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
Capital stock paid in $25,000,000.00
Surplus fund 8,900,000.00
Undivided profits, less expenses and taxes paid 8,503,038.26
_National bank notes outstanding_ 3,180,000.00
_Due to other national banks_ $36,469,683.95
_Due to State banks and bankers_ 5,903,473.87
_Due to trust companies and savings-banks_
29,210,461.00
Provident reserve fund 30,000.00
Dividends unpaid 519.00
_Individual deposits subject to check_ 82,576,884.06
Demand certificates of deposit 43,790.00
_Certified checks_ 10,752,671.01
_Cashier's checks outstanding_ 7,631,619.78
_United States deposits_ 12,937,000.00-- 185,556,102.67
United States bonds 4,155,000.00
Total $235,213,140.78
THE NEW YORK LIFE INSURANCE COMPANY
The company was incorporated by special act of the New York
Legislature in 1841. It is the third largest insurance
company in the United States. The assets of the company
January 1, 1892, were $125,947,290, and income $31,854,194.
In 1904 the assets were $352,652,048; income, $88,269,531.
THE NATIONAL SHAWMUT BANK, OF BOSTON
This institution was incorporated in 1898 with a paid-in
capital of $3,000,000. In 1904 its total resources, also
liabilities, were $63,471,639, of the same general character
as those of the National City Bank of New York.
A calm examination of these figures, illuminated by the explanation of
the "System's" methods I have previously given, will awaken the
American people to a comprehension of what use "high finance" makes of
the savings of the public intrusted to it for legitimate investment.
Nor must it be supposed for one minute that the insurance company and
the Boston bank which I have used for illustrations differ in any way
from scores and scores of their kind which are as absolutely "steered"
in their operations by the National City Bank of New York as the
National City Bank of New York is absolutely "steered" by its president,
James Stillman, or as James Stillman is absolutely "steered" by
"Standard Oil," the Private Thing, or as "Standard Oil," the Private
Thing, is absolutely "steered" by its supreme heads, Henry H. Rogers,
William Rockefeller, and John D. Rockefeller. And if any doubt remains
in the minds of my readers of the absolute power of "Standard Oil," the
Private Thing, to "make" dollars at will, or of the dead-sure working of
their "heads-I-win-and-tails-you-lose" gambling game, I ask them
carefully to analyze the above statements in connection with the facts
in the Amalgamated transaction which just precede them.
Public-domain text, read in full here on John Shaqi.
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