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
It was the moment for rapid action. We had an hour before Braman and
Foster could reach Philadelphia, and in finance in that time continents'
have been submerged and oceans pumped dry. Addicks instructed Fred
Keller to rush the books of the company into a trunk, together with all
the private papers in Addicks' safe, and to come at once to New York,
where he would be beyond the jurisdiction of the Delaware court. We
returned to the large parlor and hastily explained to the waiting
directors what had occurred. Addicks instructed the Bay State secretary,
who was present, to connect with the trunk upon its arrival and
disappear. In the meantime the company's counsel advised that Addicks
and the other directors barricade themselves in their rooms at the
Hoffman to frustrate any attempt to get legal service on them, for we
well knew that Braman and Foster, as soon as they realized they were
balked in Philadelphia, would go to the New York courts for additional
powers--which afterward they did.
This line of defence having been fully organized I hurried down town to
26 Broadway. I felt certain that Mr. Rogers had nothing to do with the
Braman-Foster affair, but to satisfy Addicks and make assurance doubly
sure I determined to see him. After being with him for five minutes I
knew I had not been deceived. Rogers agreed with me that the situation
looked as though it had been made for his interest, for it threatened to
leave us absolutely at his mercy with nothing to prevent his checkmating
Addicks at his own game. As I pointed out to him, however, there were
disadvantages in the position which he must take into consideration. His
acceptance of the opportunity would work such losses to the public and
to my friends that though the responsibility might be laid to Braman and
Foster, I would fight so viciously that no one would be spared. Besides,
between the Addicks scandal and that other which we agreed must
unquestionably lurk in the hasty appointment of the receiver, the whole
affair must eventually be ventilated in court. It is always hard for Mr.
Rogers to forego an advantage, but by this time he was tired of the
wrangle and wanted peace, and, moreover, he did not relish the thought
of court proceedings, so he admitted that my reasoning was good, and
promised to do anything in his power to assist us.
CHAPTER XXIII
TWO GENTLEMEN OF FRENZIED FINANCE
The enemy did not leave us long in suspense. Next day Braman and Foster
arrived in New York, bursting with a noble wrath at the failure of their
coup in Philadelphia. An outrage had been worked upon them, upon the
public, upon the majesty of the law. To hear their ravings one might
have supposed them the evangelists of Justice righteously denouncing a
desecration of the sacred altar; or, that we had deprived them of an
inalienable right they had possessed to our property. It would have been
humorous if the conditions had been less tragic.
Public-domain text, read in full here on John Shaqi.
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