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
But Delaware, as my readers have doubtless gathered long ere this, is
its own kind of a country, and rewards and punishments are so perversely
adjusted that it seems a sort of Topsyturvydom. In this instance certain
of Addicks' heelers went to State's prison and death; Kenney returned to
the Senate to help make laws for the great free people of America, while
the chief conspirator, with a threat to sue the blindfolded lady for
damage done, began to set out the pieces on the Bay State Gas chessboard
with a view to trying certain new moves that had occurred to his
perpetual-motion mind.
The situation of Bay State Gas stock was fully understood by the public.
While Rogers had possession of the Boston companies, he simply held them
in trust, and must give them up whenever the parent corporation had coin
enough to redeem them. The securities were still in the hands of the
public and my friends, and my own duty to get Bay State Gas on its feet
was plain. It was again a case of raising money, and to do this we had
the issue of securities which we were preparing to float just before
Foster and Braman swooped down on us. Addicks agreed that if I would
undertake the marketing of this stock, he would issue only enough of it
to redeem the properties from Rogers. His directors met and formally
"resoluted" on this point, and I felt satisfied before going ahead that
there was no danger of this money being put in jeopardy without actually
stealing it. The company, for the nonce, had no other business but to
pay office rent and clerk hire, and in spite of Addicks' financial
immorality, all who knew him were aware he took no chances of ever
getting himself sent to jail. So I began to sell the stock in the open
market.
_PART II_
CHAPTER I
THE MAGIC WORLD OF FINANCE
Though this is the twentieth century and enlightenment is supposed to
prevail throughout this broad land of ours, the majority of people still
regard the world of finance as the world of magic. Within the fairy
realm of finance the laws of nature apparently are suspended, and,
overnight, wonders are worked. The ordinary mortal, wise in all other
walks of life, sees the man who yesterday stood beside him at the plough
or at the bench emerging from the mysterious portals bearing the fruits
of the endeavors of a hundred or a thousand lives, although a moment ago
he passed through them with nothing. Who can deny the magic that thus
demonstrates its power, or fail to accord veneration to the magicians
that work such marvels? No wonder the ordinary mortal feels that he has
no license to enter the world of finance save on his knees, hat in hand,
bearing tribute to the divinities enthroned within this enchanted
territory.
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