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
This was the formal declaration of war. State and Wall streets, familiar
with my style of fighting, at once lined up and took sides. The papers
entered the controversy. According to what one read, Butte & Boston was
either the greatest mine in the world or a hole in the ground. Feeling
intensified; Geneva and Queensberry conventions were forgotten; it
became a go-as-you-please scramble; mud batteries filled the air with
liquid dirt, and both sides used Gatling guns to fire off their libels.
It was altogether a lusty and vociferous contest, which meant
destruction and death for the lame, the halt, and the slow-footed who
got between the fighting lines. I was naturally the chief mark for the
enemy, and was deluged with vilification. In the Bay State campaign I
had learned the personal cost of antagonizing the "System"; the copper
magnates showed me that they had terrors at command which might make
even "Standard Oil" jealous. In those days I don't believe my bank
account varied thirty-five cents without the news being passed around
before the ink on the bank-book was dry, and my family, down to my
ten-year-old, received daily or weekly through the mails pictorial
representations of their parent being hustled along to the realms where
sulphur is the standard of all values. Here is a sample of my usual
breakfast-table reading:
C. W. Barron, the proprietor of the "Boston News Bureau,"
feels it his duty to inform his readers, the banks and
bankers and brokers and representative investors of New
England, that that faking ass of State Street, that knave of
knaves, Tom Lawson, is braying again, and such
braying!--"Butte is to sell at 50, and going to be worth
50." It would be such a joke that this conservative paper
would be only too happy to circulate this scoundrel's
vaporings, if it were not for the sad part of such schemer's
work--if it were not that the poor and ignorant unfortunates
who are unacquainted with this knave, may buy Butte because
of his advertised lies at $14 or $15 a share and thereby be
robbed of what they can ill afford to lose. There is no more
chance of Butte & Boston stock selling at $50, or even $25,
than there is of Tom Lawson telling the truth; and this
paper does not hesitate to say that if Butte stock ever does
sell at 50, we will upon that day close up our office and
forever leave Boston and our lucrative business of guarding
investors against such knaves as this lying thief; for any
man who would do what he is doing to fleece investors is a
thief and should wear stripes, and it is surprising to us he
has so long escaped.
Public-domain text, read in full here on John Shaqi.
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