Standard Oil Company; Trusts, Industrial -- United States
Detectives appear in almost every scene of our story, and are as common
in its plot as in any extravagant melodrama of the Bowery thirty years
ago. To counteract the anonymous circulars the City Council sent a
committee headed by Mayor Hamilton--the "War Mayor," one of the ablest
lawyers of the city, upright and loyal at all times to Toledo--to visit
the Eastern money-markets. The committee, in their official report,
state that they were assured by responsible dealers in municipal
securities in New York and Boston that they would bid for the entire
amount to be sold. "We regret, however, to have to report that the
powerful and influential parties who have on all occasions and in every
way sought to obstruct and defeat the enterprise for which the proceeds
of these bonds were to be used, in some way succeeded in inducing those
who intended to purchase to withhold their bids--in fact, no matter
how guarded our movements, we believe that every person or firm with
whom we had interviews was reported to the agents of the Standard
Oil Company, for in every instance where from our interviews we had
encouragement that the bonds would be bid for, within a short time more
or less influential agents of opponents interviewed these parties and
succeeded in changing their minds."
What a picture of "high finance," of the "beneficent inter-play of the
forces of supply and demand," of the "marvellous perfection" with which
capital moves under "natural laws" to carry its fertilizing influences
where they are most needed! The officials of this free city compelled
to sneak around in the open money-market under cover with "guarded
movements," seeking buyers for its bonds as if they were stolen goods!
About them a cloud of spies and detectives reporting every movement as
if it were a crime to the little handful of trust millionaires in their
grand building on Broadway! "They have entered the ---- Bank!" "They
have just left ----'s office!" After each report the leash is slipped
of a waiting sleuth, who flies away to run down the quarry.
The gas trustees made public a letter and telegram they received from a
prominent New York bank:
"NEW YORK, November 27, 1889.
"DEAR SIR,--A gentleman named" (naming a man who signs the
certificates of the Standard Oil Trust as treasurer),[532] "introduced
by the card of Mr. ----" (one of the richest men in New York not
otherwise known as connected with the trust), "called on us to-day and
stated that understanding that our firm was on the point of bidding
on the Toledo bonds, etc., he would caution against the purchase, as
they were not legal. Mr. ---- represented himself as coming from ----"
(one of the companies of the oil combination), "and referred us to
their lawyer for further information. Now as this may hurt the sale
of the bonds we want to be cautious, and on Friday will make further
inquiries, and will wire you accordingly. We may not care to hand in
our bids on this account."
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account