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
That night Whitney and Towle's plans were mapped out to the army and
their orders despatched with a vicious snap that plainly said: "Whoever
attempts to put the Whitney machine in a hole will be shown no mercy."
The morning papers announced that Whitney had picked up the gantlet
Governor Wolcott had thrown at his feet, and--all roads led up Beacon
Hill.
It was a quick, sharp set-to. Every man was lined up with a jerk, and
when the line was tallied up and tallied down and Towle had consented to
the last raise in price of votes and given away to the final squeeze,
the word went up and down the ranks that the Whitney bill would, on the
approaching last day of the session, go flying through both Houses over
the governor's veto with a vote or two to spare. Again the prices of the
two stocks shot upward.
Then, sharp and quick as a bolt of lightning, Fate, who apparently had
been camped on the trail of Bay State Gas and Addicks from the first,
let fly another of her quiver's contents. On the morning of the closing
day of the session (the one selected for the Whitney coup), there
slipped in and out amongst the Whitney legislative ranks a man with a
story. As each legislator listened, his brow knitted and he nodded
assent. The story was a simple one: In one of Whitney's former
campaigns, desperate like this one, on payment-day Towle had gone back
on his promises and forced the acceptance of a fifty-cents-on-the-dollar
settlement; and, so the story now went, he, Towle, had put the saved
fifty cents, a matter altogether of some $75,000, in his own pocket.
Probably he was now going to repeat the operation on an even larger
scale. In an hour there came to Young's Hotel a trusty messenger who
delivered to Towle himself the ultimatum of the Great and General Court
of the dear old Commonwealth: "Money in advance or no bill!"
Consternation reigned. The army was quickly recalled to head-quarters,
and despatched back to the State House to put through every manoeuvre
known to the two veterans--but to no purpose. The Great and General
Court stood its ground, openly defied the army and hurled back into
Towle's teeth all his frantic threats. It was the last day, and the
Great and General Court was intrenched inside the protecting walls of
the State House, and it knew that before it could be compelled to come
forth to face Towle he must come to a decision. A terrible dilemma,
surely, for the amounts promised had run up to such an enormous
aggregate that it was impossible to pay all in so short a time, even if
such had been Whitney and Towle's intention. Yet to pay one or a few of
the dangerous malcontents meant to pay every one; the gang had firmly
banded themselves together.
This was the real moment of panic. Even Whitney and Towle were at their
wits' end. Finally, in desperation, and as a last resort, Whitney rushed
to the governor, threw up his hands, and asked for mercy. "What would
the governor sign?"
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account