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
"Lawson, do you really intend that this whole copper business shall be a
charitable affair? If you do, just count us out right here. We are
willing to accede to a lot of your ideas, but there is a line we must
refuse to cross even to please you. This fifty-one per cent. of the
selling company is to be owned by all of our friends, and it is one of
the things we must use as a sop to Daly, Stillman, Morgan, and the rest,
to make them enthusiastic on our main scheme, and it will not come under
our general arrangements of seventy-five and twenty-five per cent. It is
one of the things I want you to leave entirely to Mr. Rockefeller and
myself, and you can depend upon it we will do the right thing. All the
stock is to be pooled in our hands for a long term of years, so you can
say to the public that its operations will be in favor of the
consolidated company."
There you will note was the second explosive point in our conversation.
I was too much concerned at the moment to take in all his words implied
or to appreciate the fine dexterity with which a difficult situation was
being handled. These decisive sentences were cracked off quick, sharp,
emphatic, like the snapping of a bunch of firecrackers. I began a "But,
Mr. Rogers," when he interrupted, and his words came stern, aggressive:
"Is it satisfactory to you or not? I am half beginning to think you are
crowding this good thing we have in copper a bit too much. I simply ask
now, Is this satisfactory to you? Do you leave it to us, or not? But
whether you do or not, this particular part does not go to the public in
any way."
He really showed a heap of irritation, and even now I think a little of
it was genuine anger. It came over me that perhaps I _was_ overcrowding
it and treating the whole copper enterprise too much as if it were my
personal property; for here was something I had had nothing to do with,
the setting out, pruning, and gathering the fruit from, this particular
plum-tree, and so I answered without any hesitation:
"It is you, I think, Mr. Rogers, who are a little unreasonable in not
giving me a chance to tell you how I look at it. Yes, it is perfectly
satisfactory. I will leave it entirely to you and Mr. Rockefeller.
Whatever you do will be all right."
At once Mr. Rogers' expression changed. He looked relieved, making no
attempt to disguise the fact that he had discharged a troublesome duty.
"That is the way to look at it, Lawson," he said. "You'll not suffer, I
promise you."
Meditating over the conversation afterward, I realized how delicate his
task really had been, and how well he had performed it. It had been to
settle this matter and to rearrange our copper plans that he had
summoned me to New York, and if I had proved refractory I can see he
would have been badly snagged in his negotiations with the Lewisohns. If
there had been a trace of dissension in our camp, that firm would never
have surrendered their great business on such terms as Rogers proposed
to exact.
Public-domain text, read in full here on John Shaqi.
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