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
The blow had fallen. My head swam. Visions of Clark, Ward, Untermyer,
Utah, and others I had seen on the rack writhed fearfully across the
stage of memory. Here I was loaded with Butte, Montana, and other stocks
which I had felt as certain were to go into the first section as one can
feel in regard to a thing which seems in one's own control. On my public
and private assurances as the accredited agent of Mr. Rogers and William
Rockefeller and "Standard Oil," my friends and following had large
amounts of money in the same securities. The market was booming on what
I had proclaimed was to happen, and here an absolutely new condition was
being imposed, a condition which gave all my assertions the lie, which
discredited me, and would, I felt sure, precipitate a terrible disaster.
Inevitably the copper public would be dazed, would be shaken; a reaction
would follow which would bring on a panic and a destruction of values
impossible to measure. In it all, I should be left alone to bear the
brunt of the storm of ruin, wrath, and denunciation as the result of
what must seem base trickery to those who had accepted my
representations. I tried to pull myself together, for I felt Mr. Rogers'
keen eyes burning into the back of my head, appraising the effect of his
words and measuring the degree of my numb terror. He saw, in spite of
all my efforts to appear calm, that I knew I had been given a knock-out
blow.
As in a dream I inquired what companies it had been decided should go
into the first section.
"Anaconda, Washoe, Colorado, and all the big timber lands, coal-mines,
banks, stores, and other Montana properties that go to make up the
Daly-Haggin-Tevis properties," he replied crisply.
I found my numb inertia melting in a fierce anger. I jumped up. I raised
my voice:
"Mr. Rogers, do you mean to tell me that Mr. Rockefeller and yourself
have deliberately decided to take advantage of the situation I have
made--the situation I have not only made but put myself into--to try to
sell to the investors of this country other property than that I have
promised them they were to have? You cannot mean that--you surely
cannot, for you and all your 'Standard Oil,' even though you were many
times bigger than you are, would never have dared to tell it to me face
to face."
I was boiling over--becoming literally frenzied at the picture unrolling
before me.
Now it was Mr. Rogers' turn to be aroused. His voice quivered with
intensity and his fist came down on his desk with a force that shook the
inkstand. It flashed into my brain that this anger was assumed to cow
me, and I tried to look through his eyes on to his mind tablets back of
them, and read what was there recorded. The gaze that met mine was
polished steel ice coated, off which my glances slipped and slid. I
dropped into my chair.
Public-domain text, read in full here on John Shaqi.
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