The Barre daily times. (Barre, Vt.) 1897-1959, 1904-08-24
LAWSON'S TALE OF
"FRENzIED FINANCE"
Boston Man Describes Birth CT
Amalgamated Copper Company.
TELLS HOW sae,OOo.oOo WAS MADE

Henry ii. Rogers, william Rockefel.
Ter, National City Bank Of Rev
York, "Onice Boys and clerks lie
Declares, Put the scheme Through.
says Funds We're Juggied.
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, ID his ~E'renzied Finance the
Story Of Amalgamated, ID the Septeln-
Der number Of Everybody's Magazine
Freedom and equity" he continues,
ARE controlled by dollars. The laws
which should preserve aud enforce all
rights are made and enforced by dol
lars. 1t 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 presi-
dent Of the United States. SO that the
people as matter of fact must elect
one Of the 'steered candidates.
Il shall 20 further and say that there
exists today uncontrolled in the hands
Of a set of men a power to make dol
lars from nothing
Mr.. 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 inha-
Ition of values Of property. The Stand
ard Oil men, lie alleges, used this de-
vice BY using Standard oil stock as
collateral the Standard on group Of
men, lie says. acquired control Of
banks and trust and insurance compa-
MES In an parts Of the United states
Then be writes, the funds Of each
bank were so manipulated by deposit
ing those of one institution with am
other as TO create In all an apparently
Legitimate basis for increases of capi-
talization.
The jugglery Of the S30,000,O00 Of
mining stocks and other property into
SIC, 100000 Of Amalgamated 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 aud 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 oil taking advantage Of the cor
poration laws Of the state Of New Jer-
sey, we tthe said office boys and clerks
do so take advantage Of the said laws
and form ourselves into the Amalga-
mated Copper company. which VIII
have a capital Of S75.000000 and which
win 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 Ii copper and
other things and to DO numerous and
rariegated other things.
The office boys having thus be-
come the Amalgamated Copper com
pany, Mr. Lawson tells how they went
on with tile deal:
zone Of our number VIII purchase
the entire capital stock Of the said
Amalgamated Copper company for
S75,0OO0O0 cash. which $75.000000
cash we herewith certify TO have been
paid IN the form Of check for S75,-
100000, herewith delivered to the treas
urer, one Of our number, BY the clerk
who drew 1t, ana the treasurer. here
with certifying that he has received
the S75,O00,O00 herewith delivers unto
said clerk the S7J.000O00 capital stock
Of the Amalgamafed Copper company,
and we Che said Office boys and clerks
herewith certify that there is within
the treasury Of the Analgamated Cop
per company ST5.O00o00. aud we 1.-THE
said office boys and clerks vote that it
| (the said S75000.000i shall be used ia
the purchase Of certain stocks ana
properties. ana said certain stocks ana
properties shall be the same stocks aud
properties previously purchased BY Mr..
Rogers and William Rockefeller and
now owned by them
Further describing the process, Mr..
Lawson shows how I'VE (said Office
boys and clerks herewith certify that
we have paid from the treasury $75,-
100000, that said S75.000,000 is in the
form Of check, and said check Il the
one previously received or its equiya-
lent BY our treasurer from one Of our
number 10 wit the clerk referred to
earlier in these papers. and said $780,
100000 has been paid to Henry II.
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 S75,000000 Amalgamated stock was
sold to the public 1T 500 to Sis a
share, enabling, as Mr.. Lawson says.
"Mr. Rogers and William Rockefeller
(after paying the City bank its $780,
100000 loan TO become the absolute
owners OF S30,000000 Of money, none
Of which they had owned before and
which they had made as absolutely as
| though they had coined it,"
Months later the public were obliged
to sell Amalgamated at S33 a share
Baseball Players In skirts.