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
Court came to order. Foster rose, announced that the claims of his
client had been satisfied, and made a formal motion to dismiss the
receivership. The Court formally consented, and as the clerk was
entering the dismissal in his minute-book my partner telephoned the
facts to me. I sent back the word that my directors were resigning--had
resigned--that Rogers' directors were being elected--had been
elected--that the Boston gas companies were now transferred to Rogers.
My partner whispered my words to John Moore's partner and Rogers'
counsel. At once the two dress-suit cases, each loaded with currency,
were slipped to Braman and Foster. At the same time the messenger who
was to telephone to their broker rose and quickly left the court-room. A
brief period was consumed in signing receipts, certificates, and other
legal papers, and then the performance was over. Addicks rose and went
out among his henchmen in the rear, who eagerly surrounded him. In the
bustle Braman and Foster, each with his own booty, fled.
Let us see what was happening at the Boston end of the wire while all
this dumb show was being enacted in the Wilmington court-house. My
directors and officials were lined up against the walls of the
directors' room in the Boston Gas Light Company's office like so many
members of young John D. Rockefeller's Sunday-school class, inasmuch as
they were prepared to listen, sing, or shout "Amen!" at any time they
received the nod of the class-leader. In an adjoining room Rogers'
counsel had a similar line-up, with the difference that my men were
about to shed the crowns which the others were waiting to receive, and
which would transform them from humble business men into royal gas
kings. Through the open wire I was in such close touch with the scene in
the Wilmington court-room that I was almost sure I heard the subdued
weeping of the blindfolded Lady of the Scales on the bills which
occupied such a prominent part in the disreputable proceedings. Nothing
now could impede the course of events, so I concluded to take Time by
the headgear and secure what Bay State stock was in the market before
Braman and Foster got in their work. Over another wire which was at my
elbow I gave the word "go!" to my own brokers in Boston and New York,
and when a few minutes later they told me they were securing thousands
of shares, and that the stock was climbing toward 10, I could not
repress an inward chuckle at the thought that the money we had so
reluctantly parted with would spread over only one-half or one-third the
surface it was originally intended to cover.
Public-domain text, read in full here on John Shaqi.
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