The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-03-20
LAWSON PICTURES
SYSTEM AT WORK
K.sw Standard Oil Made Several
Millions in Amalgamated's
Early Stages.
nagton Broker Promises to Show
Big Bankers Part in the
Montreal Case. -....

Montreal Case. ~
New York, March 20.-Thomas w.
Iswson, in the April number of Every
h8dy's Magazine, is at last getting
69Wr to particulars as to the great
kmalgamated Copper deal. According
"a Mi Lawson, it was in the handling
d the Utah company, in the amaigar
hy MI. Lawson with Standard on back
isg, shat the Standard Oil crowd gath.
AIRED in it's first harvest of profits. 1t
came as a surprise to Lawson himself,
tho he was handling the great consol1-
dation, and even he, veteran OF the
market tho he was, says he was dumb
|'squeeze.' -,
pectation of a big deal, had carried
$he price of the Utah company's stocks
away above the price their holders had
paid. Then came a report that STAND
ard Oil was about to announce that 1t
would have nothing to do with the Utah
company. The company saw that this
meant the collapse of the market for
their stocks and heavy loss. So they
rushed to get into the Amalgamated
deal. They were told they could come
In on condition that they would give
Standard Oil a sixty-day option on
siderably below the market. They
agreed.
Men Buy Their Own Stock.
In the meantime the stocks went on
upward. The Standard Oil people be-
gan an investigation OF the mines and
stocks on which they lad obtained an
option. The: market took them at a
gulp at figure away above what
Standard Oil had to pay for them. The
purchasers were already the actual
owners Of the stock. In fact, they were
buying back from the Standard Oh
people their. own stock at more than
twice the price the Standard Oil people
were to pay them for it. This part Of
the deal alone netted the Standard Oil
ginning. Before the "systen'' got
thru and gave it's open support to the
mining company it had held the owners
up, according to Mr.. Lawson's story,
for 1O1 900 more shares and millions
Of money.
Rogers View Of the "squeeze.'
When the head Of the "system,' In
answer to his instructions to Mr.. Law
son to demand the last block Of shares
Oh over OU,UUU, was GO1u bUdG Vic uO1O'
ers would never submit: MT. rogers
came back with this:
They won't, Ell? You look it ove1
more carefully and I think you will
agree they must stand 1t, even If make
1T another 100, 0O0 This is the situation
They are sure we are going to take anc
pay for 100000 shares and in anttcipa'
ton have borrowed millions on call a.
the banks. For fear they may not see
all the nice points of their position, yol
can show them that if they refuse thu
banks, as we'll as every one else, will
know that we not only are not going into
Utah as investors, but would not--in fact
could not-become connected with thu
management, because our thoro eXamina
ton Of the property shows that the mines
are not as valuable as they affirmed
Now when they grasp the fact that they
have all the Utah stock they had, tt
start with, and 100000 more which they
have bought since, they must realize thai
in slump the price Of their shares will
go lower than the 81 or 81 it started
from. Have no fear. Clark, Ward ant
Untermyer will do just what we ask, and
in fact, if it was not for the stir a 10
of failures would make and the bad eff
feet these would have on our plans, Il
refuse to take up that option anyway
for there would be more money in buy
ing back in a smash what we have solt
than in taking it from them at our owl
price.
Holders Had to Submit.
Of course the holders submitted
Standard Oil had caught them boil
ways, getting their stocks for beggar
~. price and then selling them back tt
them at the top Of soaring market.
Munroe & Munroe Deal.
Mr.. Lawson charges the "system
not only with playing for big, game, bu
f with robbing the poor Of their dimes
He points to the Munroe & Munroe
Montreal & Boston deal, as a case il
point. Of this he says:
The episode was, on the whole, SO fou
In its revelation of greed that even Wal
street was horrifed-not at the arran
double-dealing exposed, but that tn
system should descend to such vulga
malpractice. The documents now in m
possession, which I shall publish later Il
my story, include the original under
writer's agreement, which, at great cos
of time and money, has so far been KEEP
from the public, and they show some O
the greatest bankers in the land DELHI
erately planning, by the use Of fraudu
lent papers and bogus agreements, to be
guile investors to adventure their none
In scheme the sole purpose of whic
was the enrichment of it's organizer:
The whole performance reveals deprav
ity so profound and a greed so heart
less that the people may we'll trembl
for the safety Of their savings entruste
to the custody Of men of this type.
also proves my contention that the ''sys
tenn while depending on burglary fc
its largest returns, does not despise tn
small profits Of the pickpocket
COLDS CAUSE SORE THROAT
Laxative Bromo Quinine, the worldwide cold ar
grip remedy, removes the cause. Call fer the f,I
name and look for signature of E. W. Grove. %
$3,0O0,0OO STAYS IN FAMILY.
Rock Island, ILL.,, March 20-An e'
tate estimated at 100000 is b,
queathed to the widow and children b
the will Of F. G. A. Denkmann, til
lumberman, which has been field fc
probate.