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
A few days after the document that made Nathan Matthews supreme boss of
Boston Gas was conveyed to him, there came an explosion. Like the
premature bursting of a bombshell at a Fourth of July celebration, the
transaction "leaked," and the press announced in sable head-lines that
Mayor Matthews had sold out, that Addicks was on top, and that Rogers
and "Standard Oil" would surely be found beneath the _debris_. Matthews
has always claimed that this "leakage" was a piece of Addicks' double
dealing; Addicks declares it was a part of Matthews' and Rogers'
deep-laid plan to give him the double cross. Anyway, as a hurrier-up of
coming events the news was most successful, although its effect was
somewhat of the nature of that produced by the throwing in of an
overdose of soda at a candy pull--the pot boiled over, and the air for a
time was permeated with the odor of burned sweets. In spite of all
public and private criticism Matthews budged not a jot, and confirmed
the reports. I made the most of our triumph over "Standard Oil," and for
a few days the public took to it, too. Then came one of those return
waves of sentiment which may always be counted on in any contest in
which "Standard Oil" is engaged. From mysterious places and in
untraceable ways the report became current that victory was really with
Rogers instead of with our side; that the deal was a smooth piece of
Machiavelian work; that Matthews when he took the helm was to steer our
ship alongside one of Rogers' forts and perhaps drop anchor under a row
of his concealed guns.
This rumor alarmed me. I lost no time in running it to earth, and
discovered to my consternation that Matthews had spent the night before
he made the agreement to come over to us in New York, at the home of H.
H. Rogers. Exactly what had occurred there, or what their programme was,
I don't know. Long after this episode had slipped into gas history, at
the time when Rogers and myself were doing business together, I asked
him to enlighten me on this one point, and he did to the extent of
saying, "Matthews only did what I approved of." This certainly redeemed
Matthews in my eyes from the reproach of having sold out his friends.
There is nothing more despicable than a man who, after having consented
to be "put" will not "stay put"--even though the first "put" be of a
questionable character.
This new complication demanded immediate action. I called on Matthews to
make public announcement that I was to be his vice-president, and thus
set at rest the reports that were fast destroying the beneficial effects
of our coup. I argued that such an announcement would convince the
public that victory was with us and not with Rogers. My surprise may be
grasped when the Mayor placed this icicle in my hot palm:
Public-domain text, read in full here on John Shaqi.
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