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
"What does it mean, Lawson?" His voice was in a court-and-jury key.
The opportunity was too good to miss. I could not help it. I said,
"Untermyer, you have another guess coming."
"Do you refuse to tell me anything about it?" he snapped.
"Tell you about it?" said I. "What could I possibly tell you about your
own scheme? You flatter me; you are getting excited. Let me ask you a
question, What do you say it means?"
"I say it means," he fairly yelled, "that we have been
buncoed--swindled!"
"If that is a fact," I said, "you are the best man on earth to tackle
such a proposition. Introducing swindlers to justice is your specialty."
"Lawson," said he, "let's talk it out. I don't see wherein you are in
any way to blame, but I tell you if I find true what I now suspect,
there will be music in the copper world that will set copper investors
by the ears."
I saw there was no use trying to dodge the issue, and we entered into
executive session. He had gathered most of the facts, he told me, and to
ascertain the balance, proposed at once to call a meeting of Utah
Consolidated stockholders. Also he had men out examining the transfer
agencies to find who got the shares of Utah delivered to Rogers.
I said to him, "What do you think has happened, Untermyer?"
"I think you people have sold the bulk of that stock," he said.
"Suppose we have," I said; "there is no crime in that, is there?"
"No crime," said he, "but it is a piece of dirty double-dealing."
"All right, suppose I admit it," said I, "what of it?"
"Well, did you do it? Did you sell that stock after we delivered it to
you?"
"Not a share," said I.
"Do you give me your word for it?"
"I give you my word, we didn't sell a share of that stock after you
delivered it to us."
"When did you sell it?" said he.
"Every share before we secured it of you."
At this the distinguished impassivity faded finally away and Samuel
Untermyer was actually and absolutely flabbergasted. The sight of him
dumfounded, confused, was too much for me. I laughed. It is seldom one
gets the laugh on Mr. Untermyer.
"Do you mean to tell me you were short the whole bunch?"
"Short every share of it, and 10,000 besides," said I.
"And where do you stand now?" he pursued.
"Still short of it, and before you can get fairly to work kicking up a
rumpus I should not be surprised if we were short the whole capital
stock. Rogers, as you know, does play a great game, that is, when he has
all the cards, owns the table, the room it's in, and has control of the
doorkeeper."
There was an interval of tense silence. Untermyer was making a noble
effort to swallow his fury. I began to figure the degree of my
responsibility if he should burst a blood-vessel or have an apoplectic
stroke. Finally he said:
"Lawson, if I don't blow this thing to pieces and shake 26 Broadway to
its foundations, I'm not Sam Untermyer."
Public-domain text, read in full here on John Shaqi.
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