Frenzied Finance, Vol. 1: The Crime of AmalgamatedLawson, Thomas William
History
Frenzied Finance, Vol. 1: The Crime of Amalgamated
Lawson, Thomas William
Amalgamated Copper Co.; Gas companies -- Massachusetts -- Boston; Insurance -- United States; Speculation; Standard Oil Company
To return to my story, after my investigations I again saw Whitney and
Towle, and they, not relishing my remarks on the subject of bribery,
told me frankly to attend to my own part of the affair and leave their
part to them. At this stage I called in Addicks, our corporation
counsel, and some of the largest holders of Bay State bonds and stock,
and put before them the bargain I had arranged with Whitney. They all
agreed it was an excellent combination, and ratified the terms I had
proposed to Whitney. It was further agreed that Whitney should make over
to us one-half ownership in the new company, which we were to transfer
to the Bay State Company after the charter had been granted.
There was every reason at this stage in the deal to regard victory as
assured, for it did look as though the flapping sails on our
much-buffeted and battered craft were at last to be filled with a lusty
breeze strong enough to carry us to the harbor we had so long been
trying to make. Besides what we ourselves could do and had already done,
we now had Whitney for an ally in the deal, and certainly he was a
stock-selling power throughout New England. He had agreed to go before
the Legislature and the public, and pledge his word that his scheme
would do all the wonderful things he had promised for it.[8] And when
amid acclamation the charter was awarded and it became known that we
were its beneficiaries, I could see our stock soaring.
FOOTNOTES:
[8] As a matter of fact, he did, later, in the peroration of an eloquent
address before a public legislative hearing, electrify the law-makers with:
"I here and now pledge my word, my fortune, and my sacred honor to the
fulfilment of these promises."
CHAPTER XX
AN AWKWARD ATTACK OF APPENDICITIS
In no walk of life is that head-light axiom, "Man proposes, God
disposes," so often flashed plump in the eyes of enthusiastic travellers
for their bewilderment or befuddlement as in finance. At this very
moment of success I was, without knowing it, on the brink of ruin, owing
to causes and conditions which were beyond human power to calculate or
foresee. Here is what happened:
All the details of our bargain having at last been agreed upon verbally,
it was proper the principals should get together and formally execute
the documents which should bind the trade. We arranged to meet on a
given Saturday at the beautiful stock-farm of Parker C. Chandler, Esq.,
the Bay State's general counsel, and as secrecy was important, a special
train was to take the party the twenty-five miles out of Boston. By an
unavoidable accident I missed the train, and in driving over the road in
a bleak rain-storm, caught a violent cold. I was about three hours late,
but when I arrived we went to work with a will and by seven o'clock,
shortly before dinner, our contracts had been dictated to the
stenographers and would be typed, ready to sign, by the time we came to
our coffee.
Public-domain text, read in full here on John Shaqi.
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