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
"D--n it, Lawson, you are a most impractical man to do business with,
but I suppose you must have your way. Now just tell me--and put it in
few and plain words--what is it you intend to do to get this affair
through, for we must carry it to a finish at once, although it does seem
hard that I must do things I don't want to and which may put me in a bad
hole; but let us hope the future will only show that all these
precautions were a waste of energies. Bear in mind, though, that
whatever is done, must be so arranged that no one but me will know the
real condition, for though I have given way, William Rockefeller and
Stillman, to say nothing of the others, would throw up the whole affair
rather than incur the danger of future litigation and trouble."
At that moment Mr. Rogers had, I believe, made up his mind to play so
fair with the public that there should never arise dissatisfaction with
the course of Amalgamated, that is, he had determined to be content with
a half brick of gold without retribution or restitution in place of the
whole fraught with penalties of exposure and reprobation. At that period
his cupidity had not flared into the towers of fire it afterward became,
in the smoke and flame of which all undefined dangers were obscured.
"As you will, Mr. Rogers," I assented; "that part is not my hunt. I
should prefer that our associates knew things as _we_ do, but as it
seems that is impossible, I must be satisfied with knowing that you
thoroughly understand the conditions I am going ahead on. Here they are:
First, all public notices must bear the names not only of the
Amalgamated Company and the City Bank, but of the individuals,
Rockefeller, Rogers, and Stillman. As the real story is to be told by me
alone, these names will prevent any suspicion the public, particularly
Wall Street, would have that there was any lukewarmness or dodging. This
means that you and Mr. Rockefeller must be known as officers of the
company as well as directors."
"Now, Lawson, right there, that is impossible--absolutely out of the
question. William Rockefeller will under no circumstances take on
additional duties of this kind, and whatever the consequences, I cannot
persuade him to."
I saw he meant this, and that we must get around it.
"Let us begin at the beginning, then--the president. You should be
president--over the flotation, at least."
"That is impossible, too, for you know it is settled that Marcus Daly is
president. I promised the position to him as a part of the trade. It
would be ridiculous for me, who it is known am not a copper expert, to
be president of a new copper company in which Marcus Daly is a large
owner and is supposed to have a prominent hand. Besides, in certain
parts of the country his name will stand much better than mine, and it
means much to all miners the world over."
Public-domain text, read in full here on John Shaqi.
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