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
On reaching New York--the two bankers and myself--we went directly to
Addicks' apartments at the Imperial Hotel. Although the fortunes of war
were rapidly crumbling this worthy's brilliant financial structure,
there were as yet no outward signs of disintegration. His beautiful
estate at Claymont, Del., his stock farm in the same State, his
town-house in Philadelphia, his $30,000 apartments in the Knickerbocker
on Fifth Avenue in New York, and the superbly furnished suite in the
Imperial, close by, all seemed to testify to the man's boundless
prosperity.
Memorable though this meeting was destined to be to both of us, my chief
sensation in approaching it was a certain curiosity as to the
personality of Addicks, whom I had seen, but had never spoken to. I knew
him to a "T" in my mind, but here was my opportunity to compare my
mental "sizing-up" with the real man. The apartment into which we were
ushered was of the low-burning-red-light, Turkish pattern. Addicks rose
from a great divan disturbing a pose which his white cricket-cloth suit
and the scarlet shadows made so stagy that I guessed it was for my
benefit. I looked him over, and he returned the inspection. After the
introduction he at once unlimbered his business gun.
"Let's get right down to business, Lawson," he began. "I wanted to meet
you to see if we could get together on any satisfactory basis."
I told him that that was my understanding of our meeting. Then he wanted
assurances that I had no connections with "Standard Oil" and that I was
free, sentimentally and commercially, to enlist in his fight. I replied
that I was a stock-broker and operator, and was looking for
opportunities; no one had strings on me, and provided he made
satisfactory terms I was free to join him; further, that when it came to
enlisting in a fight between two such financiers as Addicks and Rogers,
sentiment seemed to me out of place.
"That's right," he said. "That's what I like to hear. Now, Lawson, will
you take this fight of mine against 'Standard Oil'?"
"If you meet my terms, yes."
Addicks looked at me. "What do you want?" he asked. "Perhaps, though,
you'd first like to have me tell you how my affairs stand."
"I know sufficiently where you stand," I replied, "to name my terms
right now. If they are acceptable, I'll hear you tell where you stand
afterward. I'll take your fight for a cash commission of $250,000 and a
cash capital of $1,000,000, to be used in the market on joint account,
we to divide the profits of all operations."
Addicks smiled. "You are too high," he said. "I'll pay you $50,000
commission and give you $250,000 capital, and after I show you in what
good shape my fight now is and how near I am to victory, you'll agree
that the terms I offer are good pay and fair."
Public-domain text, read in full here on John Shaqi.
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