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 all over in a few minutes, and when my partner said, "It's done,"
and "By Jove, there go Dwight Braman and Roger Foster on the dead run
with a dress-suit case apiece!" I held my sides as Parker Chandler in
his inimitable way bawled: "Tom, let's leave our straw hats on the pegs,
for we'll probably be back next spring figuring out how to pump air
enough through the gas-measuring meters to pay for that money we've just
loaned Braman and Foster for a day or two."
Braman and Foster, as I have observed before, knew their business. The
danger to which $175,000 in currency would be exposed, in a territory
controlled by Addicks, had appealed to their cautious instincts, and
once outside the court-room they literally took to their heels and ran
for a corner of the railway yard, where awaiting them was a special car
and engine. They jumped aboard, yelling to the engineer: "Let her go."
In the meantime eager-eyed ruffians searched the streets and hung round
the hotels, looking for two men with dress-suit cases. A hundred of them
were on the station platform, awaiting the departure of the regular
train. Ten minutes before leaving-time one of the henchmen appeared
among the gang, and passed round the word that the gents and the "stuff"
had got off by a special, and it was no use waiting any longer. Later
that afternoon, Addicks, to use his own words, in one of his rendezvous,
"dealt out his own good money in place of that he had hoped would take
care of the people's rights."
It was a fierce session of the Stock Exchange that Saturday morning.
Shortly before closing time a new set of brokers were frantically
grabbing for Bay State stock round 10, and Monday morning, when all the
world knew that the receivership had been lifted and our company was
itself again, the same crowd continued to buy fiercely. To these eager
purchasers I resold all that I had previously gathered, and enough
short besides, to compensate me for some of the losses I had previously
suffered, for this latter I was enabled to repurchase at half price,
when news came that another suit had begun against Bay State. This
latter drop in price so shattered the nerves of Braman and Foster that
they retired, having made up their minds that they did not know quite as
much about one end of "frenzied finance" as they did about the other. As
a matter of fact, nothing came of the suit in question, for it was
evident when the transfer of the Boston gas companies to Rogers' control
became known, that Bay State Gas receiverships had played their last
successful engagement.
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