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
"Absolutely necessary, Mr. Rogers," I returned without an instant's
hesitation. "Now let us run over the situation finally, for I want to
relieve your mind of the idea that I am doing anything selfish in
insisting on these conditions. When the public subscription is offered,
there must be a story of facts to go with it. Some one must make it. The
men who should, will not, although they are prepared to reap all the
benefits of what the man who will, says. It seems I am that man, and
what I say must be what I understand is the exact truth about the
enterprise. Well and good. It is essential for the one who assumes this
responsibility to do it in such a way that he can for all time show that
the men who benefited and upon whose say-so he acted were in every way
responsible for what he did. All this is undeniable. There are only two
possible considerations that enter into the problem: first, that the
facts I am to state are not true; second, that it devolves on me to
accept a risk those associated with me will not take. If the first can
be maintained, farewell to our enterprise, and get ready for the worst
financial scandal Wall Street ever faced. If it's the last--Mr. Rogers,
the 'Standard Oil' people are all very strong, but I don't believe any
of them would have the nerve to ask me to accept a risk they dared not
themselves undertake."
There was no escaping my conclusion, and unwelcome as the fact was, he
saw no further talk would avail, so he snapped:
"Draw up the advertisements you think proper. Have them ready in an
hour, and I will in the meantime see William Rockefeller and Stillman
and do what is necessary."
I noted the set of Henry H. Rogers' jaw and the down slant of his eyelid
as he uttered these words, and I had no doubt of the compliance of James
Stillman and William Rockefeller with whatever demands he chose to
propose that day. "Cyclones and thunderbolts! Heaven help these or any
others who venture to resist him in this mood," I inwardly commented,
"especially if they are of those with whom he has travelled the
'Standard Oil' blood-trail." My imagination showed me a picture of 26
Broadway and the National City Bank swaying and shaking like full-blown
hollyhocks in a gale.
I had my advertisements ready and was waiting when he returned.
"Lawson," said he peremptorily, "if your work will pass me you may go
ahead with it."
"You mean you have obtained all the consents necessary?"
[Illustration: INITIAL ADVERTISEMENT OF AMALGAMATED COPPER COMPANY.
=Amalgamated Copper Co.=
=Capital................$75,000,000=
This company is organized under the laws of the State of New
Jersey for the purpose of purchasing and operating
copper-producing properties. Its capital is $75,000,000,
divided into 750,000 shares of common stock, of the par
value of $100 each. It has no bonds or mortgage debt.
Public-domain text, read in full here on John Shaqi.
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