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
It was a remarkable situation. Here was one of the most ruthless
financial schemers of the age cornered for slaughter, and he had put
himself absolutely at the mercy of the man who had bitterly fought him
and whom he knew hated his kind. Yet he was as cool and collected as a
bunch of orange blossoms at a winter's wedding.
The man's supreme nerve astounded me, yet I could not help admiring him.
I saw through his game, yet his assurance fascinated me. I thought a
minute. I said to him: "Addicks, I'm really sorry for you, and I'll
promise you here now to keep what you've told me sacred. What's more,
I'll stop fighting you. I'll cover my shares and without doing any one
any harm I'll help make prices a bit better for your securities."
He smiled, said "Thank you!" and continued looking at me as though he
awaited something further, a quizzical, expectant smile on his face.
There was an interval of silence. Finally I said to him--and there were
neither red lights nor warning intuitions to signal my peril: "Just what
do you expect me to do, Mr. Addicks?"
"Whatever you think best," he replied in a mild tone. Then, rousing
himself a bit, he went on: "They say in the market that you like a fight
and the harder it is the better. Well, I certainly have an uphill fight.
Do as you would have the other fellow do to you."
After that I had no further doubts of Addicks' slickness. I said to him:
"You are certainly the shrewd man they describe you as. Now continue to
be frank long enough to answer this one question: Did you figure this
out as the last card to throw at me, knowing that the very desperation
of the case might warm me up and tempt me to tackle it for the sake of
the fight there's in it?"
Instantly Addicks knew his game was won. He straightened up and was the
able, shrewd, and cunning financier who had tricked conservative Boston.
His facts chased his figures in marvellously rapid succession, and he
showed a knowledge of conditions, relations, and corporation tricks that
dazzled me. For an hour he rushed on, and when at last he came to a stop
I said to him:
"It's unnecessary to say any more. I see the situation as you would have
me see it, and it comes to this: If I refuse to link up with you it
means another 'Standard Oil' victory and another wreck for Boston.
Rogers' success means that New England speculators and investors will
again, for the three hundred and thirty-third time, be robbed of their
savings. If I get in, we may either avert all this or I may be ground up
at the same time you are. However, it's too good a fight to miss, and so
here goes. I'll link up."
Public-domain text, read in full here on John Shaqi.
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