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
"All right for president," I answered. "That settles, then, where you
would naturally come in--vice-president; and as vice-president it will
be proper to print your name in the advertisement below that of the
president."
He demurred at first, but finally acquiesced, for he had now made up his
mind to play out the string. For treasurer and secretary he suggested a
brother of Governor Flower's, but I knew that this was now the only
place left where the magic name of Rockefeller could be used and I drew
his attention to the fact.
"How can we do it, Lawson, when I have told you it is impossible?"
"William Rockefeller has a son, William G. Rockefeller. He's our man for
treasurer and secretary. Not one in ten thousand but will think William
G. is the senior Rockefeller, so the name is as good for the country as
his father's, and in State and Wall streets it is better, for among
financiers it is known that William Rockefeller would hesitate longer
about putting his son out in the open in an enterprise he did not
approve than about getting in himself. So William G. Rockefeller it must
be."
Mr. Rogers did not take kindly to the idea, and I could see it would be
quite a task for him to arrange the matter. However, it was necessary,
and he undertook the contract. I went on:
"That covers the company. Second, we will print three advertisements--a
plain notice of the City Bank, which must be signed not only with the
usual 'National City Bank,' but 'James Stillman, President.' This will
immediately follow the company's advertisement, which I shall so word
that the enormous properties composing the consolidation will be set
forth, yet without details of the extent of our holdings in any of them.
In its own advertisement offering the stock the City Bank will refer to
the advertisement of the Amalgamated as though all particulars had there
been given, and I will see that it reads openly and frankly and yet
contains nothing that need scare Stillman. Then there will be a third
advertisement, signed by myself, in which, in the plainest and strongest
terms at my command, I shall tell just what the company is and what it
proposes to do."
"So far all right," assented Mr. Rogers.
"There is one more thing," I went on. "It cannot openly be put forward
that I am the authorized agent of the Amalgamated Company and the City
Bank--well, I must have the equivalent of this. It must be shown by
inference. If I insert these three advertisements in the papers and pay
for them, and the company pays me for them, it will be proof positive
for all time that I acted as the authorized agent of not only the
company and the City Bank, but of Marcus Daly, yourself, William
Rockefeller's son, and James Stillman, and therefore that whatever my
advertisement says is binding upon them. Remember, though, it will be
your affair whether you tell them of it or not."
Public-domain text, read in full here on John Shaqi.
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