"You persist, Lawson, that this is necessary?" Mr. Rogers interrogated. "You seem to lose sight of the position I shall be in should anything happen later to reveal to these men with whom I am so closely associated in business that they were binding themselves without their knowledge, and that I was fully aware of the fact." [Illustration: LAWSON'S ADVERTISEMENT WHICH APPEARED IN CONJUNCTION WITH AMALGAMATED'S. =COPPERS.= =Amalgamated Subscription.= Owing to the very large number of inquiries (over 3,000 the first day), received and anticipated, as to the best means of securing an allotment of the first issue of the consolidated stock, it is necessary to reply collectively by this advertisement. I advise the purchase of Amalgamated by subscription, because it is, in my opinion, the best opportunity ever offered the public for safe and profitable investment. It is probably the first time in the history of public subscriptions that a stock is worth and can be sold for 50 to 75 per cent. more than the subscription price, and yet will be allotted to each and every subscriber in proportion to his application. This means that every one who makes a bona-fide subscription, large or small, will receive shares at one hundred dollars each that can be sold at once at a large profit. In my opinion the entire $75,000,000 is worth and can be sold to-day for from 30 to 60 per cent. more than the subscription price. First--Because the assets now owned by the Amalgamated Company are worth from $100,000,000 to $125,000,000. Second--Because the Amalgamated Company is now earning at the rate of 12 to 16 per cent. per annum. Third--Because it will, from the start and always after, pay 8 per cent. dividends annually. Fourth--Because the interests actively engaged in its management will make and keep it one of the most conservative and sought-for investments. Fifth--Because there will be rights attaching to it almost at its beginning that will give to it large profits independent of those accruing from its dividends.