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
"Mr. Addicks," said I, "I have just time to get dinner, look in at the
theatre, and catch the midnight back to Boston. It is my business to
keep posted on such scrimmages as you are engaged in. If you and your
affairs are where I believe they are, the terms I offer are
exceptionally low. If your affairs are as you would have me believe, you
need no one to captain your fight."
Addicks asked where I thought his affairs stood, and I answered: "I
don't think--I know, or, at least, I feel quite sure I do. You are at
the end of your rope and are practically bankrupt."
At once Addicks grew indignant. "You are absolutely wrong," he asserted.
"I'll admit I have had a hard fight, and that it has cost me, so far,
considerable money; but I give you my word I'm worth between six and
seven millions clear and clean right now."
I bade him good-night and left. Our interview had consumed not over
twenty to twenty-five minutes. I said to his bankers:
"Addicks is the Addicks I have sized him up to be, only worse."
We got back to Boston next morning, and at the opening of the Stock
Exchange I sailed into the Bay State stock in earnest, for I felt surer
than before that Addicks was nearing his finish. A few minutes after
the Exchange opened, Addicks' banker rushed into my office and said the
Delaware financier begged that I would return to New York at once, and
whispered to me that in a conversation just held on the telephone
Addicks had stated that he would accept my terms. I informed the banker
I was not anxious for the job, but as he urged his own interest, I
jumped on the noon train and in the evening was again in New York.
It was a warm day and I was pleased to get a wire on the train from
Addicks asking me to meet him at the pier, as we should hold our
conference on his yacht, the _Now-Then_, at that time one of the fastest
steam-yachts afloat.
It was a night of memorable beauty. In the golden light of a dazzling
sunset we flew up the majestic Hudson. From under the awning I watched
the serried edges of the Palisades as we slipped swiftly by them to the
broad reaches of tinted waters above Yonkers. Every natural influence
conspired to make acute to me the warning whisper of my soul, which
flashed the caution as I crossed the gang-plank, "Watch out!" But, as I
said before, Fate hangs no red lights at the cross-roads of a man's
career, and I plunged recklessly into the toils my Mephistophelian
companion so artfully wove around me.
The _Now-Then_ was hardly in mid-stream before Addicks had got down to
business. His demeanor had changed since the previous evening. All his
bravado had disappeared; he was simple, frank, direct, and, in the
manner of one who has made a mistake and regrets it, he commenced
without any delay:
"I didn't think last night I'd pay your price, Lawson. It staggered me a
bit, but I gave it considerable thought after you left, and when this
morning's prices showed me you were again on the war-path, I saw my
error."
Public-domain text, read in full here on John Shaqi.
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