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
Now the distinction, sanctity, and antiquity of the Somerset Club are
quite beyond peradventure. Since Boston has been Boston she has had her
Somerset Club, a club distinctively of grandfathers, fathers, and sons.
The right to membership in the Somerset Club is as much the inheritance
of a Somerset man's son as his name or as the proud title which always
will be found affixed to his signature when he reaches man's estate, "of
Boston." For a man to get into the Somerset without long years of
waiting and intense scrutiny, not only of his own record but of his
parents' before him, is a rare event. Yet the name of J. Edward
O'Sullivan Addicks was up for full membership, with Boston's picked best
for his sponsors, a few days after he "lit." How Addicks got upon the
Somerset list Boston will never tell, and the mention of the fact
nowadays within the club-house will empty its sideboard instanter.
The campaign of arrangement for the advent of Addicks in Boston was more
elaborate, more astute and expensive than was ever organized for
exploitation of prima donna or great pianist. For months an advance
agent had been preparing the way for his chief's arrival in a blaze of
glory. There was talk in the papers and among the financiers about the
wonderful water-gas process which enormously enhanced the profits of
gas-making, and such rumor was always linked with the name of the
brilliant Philadelphia Gas King, for so the press had already dubbed
him. A wonder and magic immensely provocative of curiosity were woven
about the identity of this J. Edward O'Sullivan Addicks, who it was said
might be persuaded to visit Boston to work marvels with the stocks that
had been "in the family" long before the present generation could
remember. When it was sure that the great man was really coming the
agent sought the advice of Boston's best in selecting quarters for him.
In the Tudor, a beautiful family hotel adjoining the Somerset Club on
Beacon Hill, a magnificent suite of apartments was taken, and though the
great man could remain in Boston but a brief space, the furniture, the
hangings, and even the carpets were all changed for him.
Eminent financial tricksters have various ways of handling their
victims. Some believe that the most skilful mode of attack is the slow,
confident, dignified approach which allays the subject's fears by its
solemn display of deliberation. Others (and Addicks is of this creed)
are persuaded of the superior efficacy of the "rush-in-and-drag-out"
method. The subject, they say, "gives up" more and quicker when the
hurry call is sounded. It was a winter's day when Addicks "lit" in
Boston, and circumstances had arisen, the suave advance agent told
various Boston's best, with whom he was in consultation, that would make
his chief's stay much briefer than either had anticipated. So when the
great man arrived at the club just before dinner, quite an array of
important people were congregated there.
Public-domain text, read in full here on John Shaqi.
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