Middlebury register. (Middlebury, Vt.) 1886-1937, 1904-07-29
Frenzied Finance.

The August number of Everybody's
Magazine contains so pages of "rattling
good stories,' besides the second chapter
of Lawson's Amalgamated.
The meat of the story is half column
on the last page in which Lawson gives
what he claims were the five stories of
"the Amalgamated deception" Intro
ducing it with ten pages, he says that
Amalgamated in the first five years of its
existence ''plundered the public to the
extent of over one hundred millions of
dollars"
| IL. II. Rogers is given the credit for
being the executive head of the Standard
Oil system, while William Rockefeller
works the financial end. William Rookie
Teller is described as a Christian gentle
man and Fl. II. Rogers as "a relentless,
ravenous creature, pitiless as a shark,
knowing no law of God or man in the
execution of his purpose"
Lawson describes Marcus DAILY as a
man who desired to cheat his partners
by concealing from them the richness of
Anaconda until he could buy up their
stock. He joined with Rogers in a secret
partnership and bought bare control of
Anacondas 100000 shares for 1914 ,000,-
900, while Mr. Rogers paid in round
figures. SIS 900 900 for the balance of the
properties, consisting of Colorado,
Washoe, the control of Parrot, and the
miscellaneous properties; "a total of
$3.50 900, 600 for what within a few days
after purchase was capitalized at S75,
600, 900 in the Amalgamated Company,
which Marcus DAILY never forgave and to
the day of his death referred to as "the
personification of corporation meanness. -
The interesting paragraph in this
article is as follows:
"'This is what actually occurred. Be
fore Mr.. Rogers and William Rockefeller
let anyone at all in, they built a superbly-
designed, water, air and light-proof
structure, particularly light-proof), con-
sisting of five floors, each one being the
exact duplicate of the 500, 100000 one
upon which they, and they only, stood.
Marcus DAILY alone was ushered in on the
uTSt lOOI, eltNdieu JIlot d lew ulilllOu
dollars above their own. James Stillman
and Leonard Lewisohn, of Lewisohn
Brothers, were admitted TO the next one,
the $50, 900 floor. In other words,
Mr.. Stillman and Mr.. Lewiston We're
given an unnamed percentage, the per-
centage to arranged later by Mr.. Rogers,
in all profits above actual cost, and such
actual cost was called $50, 900, 600, and
was arrived at by adding the 81 900 600
of secret profits to the actual S39, 900, 900
, cost. Then j. z. Morgan & Co., Freder-
ick Olcott, Governor Flower, and one or
two of the dearest friends and closest
associates, were let in on the $50 900, 000
fioor-were given an unnamed percent
age, the percentage to be arranged by
Mr.. Rogers, in all profits above actual
, cost. and such actual cost was called
$50, 900, 900, and was arrived at by adding
the SCI 100000 of secret profits to the
actual S39, 900 900 cost. Then the selected
ones from the eight different groups of
STANDARD Oil were all allowed to move
; into the fifth or underwriters floor
which was affirmed to be so 900, 00C
cost and then, as a solid phalanx, all
: the different floor -dwellers marched upon
the dear public at S75 100000, in the
2 front ranks of which We're all those of
the eight groups of the Standard Oil
: army that had not already been admitted
to any of the secret floors.
2 "In the ethics of Wall street the helm
5 BUSINESS of this transaction is not in the
d. fact that the public was compelled to pay
1856 100000 profit to few men who hac
e invested but S39, 900, 000-and, as l shall
show when approach this part of my
story, the S39, 900 900 did not even belong
to them-but in the fact Mr.. Rogers anC
4 Mr.. Rockefeller had given to their asso
ciates what, in the vernacular of 'th'
D street is termed the double cross.