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
Just to keep the conditions of the transaction at this stage before my
reader's mind, I'll repeat that the Clark-Ward-Untermyer people had now
given us the right to buy of them 100,000 shares of their stock (_at a
price $2,250,000 less than we had already sold it for_), with the
understanding--not in words or in writing, of course, because "Standard
Oil" never makes a promise in writing, but implied as sacredly as though
it had been set down and attested under oath--that we would take and
pay for their stock and engage with them in their enterprise, giving
them the benefit of our experience, our capital, and our prestige. I say
they had every reason to assume that we were acting in absolute good
faith, and no ground to suppose that there was any ulterior motive
behind our negotiations. It must be remembered that this occurred some
years ago, before the "System's" perfidy was a calculated contingency.
The knife was now in, but the "System" had still to corkscrew it in the
wound.
CHAPTER XIII
THE TRAP IN FINANCE
After "pulling off" such a big "trick," as the professional crooks put
it, and getting away with such a fat bundle of "swag," you, my good
reader, might naturally suppose that this shining light of the "System,"
contented with his profits, would pass on to new victims; or, if you
have a mistaken impression of Mr. Rogers' sense of humor, for really he
has a keen sense of the ridiculous--after five o'clock on week-days and
all day Sunday--you might think he would take the opportunity to order
me to tack up his card on the Utah office door, inscribed, "We will
return when you recoup," and transfer his milking machine to other
udders. No, that is where you, old-fashioned reader that you are, have
"sized up" Mr. Rogers inaccurately. He had not finished.
Utah was not yet exhausted as a wealth-producer for the "System." After a
brief lull, representatives of Clark, Ward & Co. came to me requesting that
they be allowed to see "Standard Oil's" report on their mine. It was most
important for their financial arrangements that they be told what was in
store for them. That was what they thought. I told Mr. Rogers. He
instructed me to report to the Utah people that Mr. Rogers had looked wise
and said nothing. The double-perfected "look-wise-and-say-nothing" is one
of "Standard Oil's" pet business devices. Whoever tries to penetrate its
secrets is always welcome to his inferences, but no one in "Standard Oil"
is ever on record in case the inquisitive one guesses wrong.
"Lawson," Rogers said, "just tell those people that our way of doing
business is to send out reports when we decide it is time for them to be
seen."
Public-domain text, read in full here on John Shaqi.
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