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. Lawson, it has long been my ambition to show the public of Boston
and gas consumers what I could do with this situation, and now that I am
absolutely assured of gas supremacy, I would have you and all others
distinctly understand I will run it as I deem best, regardless of the
wishes of any one."
Nathan Matthews was destined later to learn that in an Addicks edifice
there are secret trap-doors and concealed passageways available for
quick escape in emergency, and that the term "absolutely assured" is of
relative value when used in high finance, with Addicks to interpret the
relativeness. A few days after the mayor had shown his colors the annual
election was "pulled off" in an unexpected manner. The Mercantile Trust
Company delivered its proxies to the president of the Bay State _of New
Jersey_, who promptly re-elected himself and his friends to their old
offices.
Next morning the public, the press, and the ex-mayor were alike
surprised to learn that J. Edward O'Sullivan Addicks was still president
of all the Boston gas companies; that General Sam Thomas, of New York,
and Thomas W. Lawson, of Boston, were vice-presidents; and that the
expected and widely heralded Matthews turnover to Matthews had been
indefinitely postponed. There was a tremendous "towse" for a few days
during which time I tried my hand at public-opinion moulding, and so
successfully that all interested saw that the tide had really turned,
and was running swiftly against the heretofore invincible "Standard
Oil." Rogers tried to stem it by causing it to be known that Matthews
was to carry the new complication to the courts, but we quickly disposed
of this possibility by reaching a settlement with our man. This was
brought about by the payment to Matthews of a number of thousands of
dollars, which Addicks afterward informed me he had entered in the
gas-books as "balm salary." From this event until August, 1895, it was
one continuous running fire with Rogers and his crowd, with a constant
gain to our side in public opinion, though final victory was still far
off because of the unlimited money resources of "Standard Oil." In fact,
it gradually became evident that, though we might hold out, it was
impossible to whip "Standard Oil" to an open acknowledgment of defeat.
Public-domain text, read in full here on John Shaqi.
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