Waterbury evening Democrat., 1904-08-25
LAWSON'S TALE OF
 "FRENZIED FINANCE"
Boston Man Describes Birth of Amalgamated Copper Company.
TELLS HOW sse,ooo,ooo WAS MADE

Henry H. Rogers, William ROckefel- Ter, National City Bank of New York, "'OmCe Boys and ClerAxS," He
 Declares, Put the Scheme Through.
 Says Funds Were JuEEIed.
 At no time in the history of the United States has the power of dollars been as great as now," writes Thomas W. Lawson, the Boston copper mag nate, in his "Frenzied Finance; the Story of Amalgamated," in the SepteIn- Der number of Bverybody's Magazine.
 Freedom and equity" he continues, ''are controlled by dollars. The laws which should preserve and enforce all rights are made and enforced by dol lars. It is possible today with dollars to steer the selection of the candidates of both the great parties for the high est office in our republic, that of prest- dent of the United States, so that the people as a matter of fact must elOct one of the 'steered' candidates.
 "I shall go further and say that theRe exists today uncontrolled in the hands of set of men power to make dol lars from nothing"
 MT. Lawson's use of the phrase ''make dollars means an expansion of credits, and this he shows in an illus tration is made possible by the inda- ton of values of property. The Stand ard Oil men, he alleges, used this de- vice. By using Standard OH stock as collateral the Standard Oil group of men, he says, acquired control of banks and trust and insurance compa- nieS in all parts of the United States. Then, he writes, the funds of each bank were so manipulated by deposit ing those of one institution with an- other as to create In all an apparently legitimate basis for increases of capi- talization.
 The jugglery of the $3O,OOo,oO of mining stocks and other property into $75, 100000 of Amalgamatsd Copper company stock is thus described in the article:
 'The second part was the summon ing into the City bank" [New York] 'of Standard Oil lawyers, office boys and clerks and the organization by them of the Amalgamated Copper company. The lawyers drew up the papers, and the office boys and clerks signed them. First the papers certified that whereas we (the office boys and clerks) are de- sirous of taking advantage of the cor poration laws of. the state of New Jer- sey, we Ghe said office boys and clerks) do so take advantage of the said laws and form ourselves into the Amalga- mated Copper company, which will have capital of $75, ,Oo0, 900 and which will be allowed by said laws to own copper mines and other things, to mine copper and other things, to manufac- ture, buy, sell and trade in copper and other things and to do numerous and variegated other things"
 The "ofice boys" having thus be- come the Amalgamated Copper com- pany, MT. Lawson tells how they went on with the deal:
 "One of our number will purchase the entire capital stock of the said Amalgamated Copper company for $75,OOO,OO0 cash, which $75,O00,O0O cash we herewith certify to have been paid in the form of check for $76,- COG, 900, herewith delivered to the treas urer, one of our number, by the clerk who drew 1t, and the treasurer, here with certifying that he has received the S75,OOO,O0O herewith delivers unto said clerk the S75, 100000 capital stock of the Amalgamated Copper company, and we (the said ofice boys and clerks) herewith certify that there is within the treasury of the Ama1gamated Cop per company S75,0O0 900, and we (the said office boys and clerks) vote that it (the satd $75,0Oo,OO0) shall be used in the purchase of certain stocks and properties, and said certain stocks and properties shall be the same stocks and properties previously purchased by MT. Rogers and William Rockefeller and now owned by them"
 Further describing the process, MT. Lawson shows how i've (said office boys and clerks) herewith certify that we have paid from the treasury $75,- 100000, that said $75tOoo, GOO is in the form of check, and said check Is the one previously received or its equiva- 1 lent by our treasurer from one of our number-to wit, the clerk referred to | earlier in these papers, and said $76,- 100000 has been paid to Henry H. Rogers for his and William Rockefel- ler's use."
 Then the office boys and clerks re- signed, their places were taken by a Standard Oil board of directors, and the $75 100000 AmaIgamated stock was sold to the public at $10O to $115 a share, enabling" as MT. Lawson says, "Mr. Rogers and William Rockefeller (after paying the City bank it's $39,- 100000 loan) to become the absolute owners of $80,O0o,Oo0 of money, none of which they had owned before and which they had made as absolutely as l fhnnUh fhov had nOinod tf