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
"Well, what are you going to do?" I said.
"Just what we started to do." No lawyer's warnings could hold him back
from the bursting barrels now in sight. He went on:
"I told Sterling to forget I had asked him to pass on the matter, and
that I would have my own counsel take the responsibility. So we go right
ahead, and nothing is to be said to any one, not even to William
Rockefeller. I have always argued that it is fool business to go to a
lawyer with a scheme that depends entirely on how it is carried through
as to whether it is perilous or not. I could have told Sterling there is
apt to be more danger in a deal in which one makes thirty-five to forty
million dollars without turning a hair, than in furnishing staid advice
from an office-chair for a fixed sum per diem."
The concentrated incisiveness of these sentences! Opposition, the mere
suggestion of danger, had stimulated his determination to proceed rather
than enjoined caution. Himself convinced of the expediency of our deal,
no power on earth could make him deviate or face about. Truly a man of
blood and iron, as Bismarck or Moltke was, his erected will is a sword
and a vise. To gain a predetermined goal Henry H. Rogers will go through
hell, fire, and water, swing about and make the return trip, and then
repeat, until death interferes or his object is attained. Such men as
he in other days subjugated kingdoms or made deserts where they
operated; in religion they became St. Pauls or Savonarolas.
It may occur to my readers that in depicting Henry H. Rogers I use more
whitewash than tar, and that if he is half as determined and relentless
as my characterization of him, he will surely exact a terrible reprisal
for what I have written here. In describing the man I adhere to the
facts, and before I began this crusade I weighed well the consequences.
From the implacable wrath of Henry H. Rogers and his associates, from a
thirst for vengeance which grows more bitter as it is deferred, nothing
can save me, nothing but--myself.
And now events flew. Mr. Rogers took the forenoon to notify Governor
Flower, President Frederic P. Olcott, of the Central Trust Company;
Marcus Daly, and J. P. Morgan, that they, in connection with William
Rockefeller, himself, his counsel, and James Stillman, were to
constitute the directors of the new company.
"There, Lawson," he said, when he returned to 26 Broadway, "that job is
done, and I am glad it's off my hands. It was all pleasant enough but
the Morgan part. I wish it were possible for us to get along without
having his assistance, but it isn't. Leaving him out would create
comment, from which it would be only a short step to Wall Street's
nosing around and manufacturing something uncomfortable, even if they
didn't discover it. I don't like Morgan a bit, and he likes us less. It
won't be long before one or the other of us will be able to do business
without knowing what the other's about, much less consulting him--not
very long."
Public-domain text, read in full here on John Shaqi.
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