The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-12-17
TOO MUCH FOR LAWSON

TOO MUCH FOR LAWSON
The Lawson anniversary marked the
week just closed. IA year ago at this
time the Boston man issued his first
sensational advertisement advising peo-
pie to sell the stock Of the, Amalga-
mated Copper company. The public was
already acquainted with Lawson, and
his serial articles exposing the iniquities
Of the system were being eagerly
devoured by many thousands Of read
ers. 'Frenzied finance had become
a popular phrase Of the street. The
press was devoting columns Of space to
the man and his doings.
Never had there appeared in modern
American finance man Of character
more difficult of fair analysis. There
were a multitude Of commentators, writ
ing in the Wall Street environment and |
carrying natural bias, who saw only
evil and personal selfshness in the man.
Upon past records of his own shady
stock-jobbing deals, the Inconsistency of
his later stand, and the imperfect
thought evidenced by the egotistic
phraseology Of his bulletins they based
strong argument of his financial IRA
tionalism and responsibility. But of
his Importance as disturbing factor
they were forced to take recognition,
while the fact that he stood upon no
high pedestal and made little claim to
being better than the men he assailed
made his attitude unique. !
A second class Of writers, very largely
yet not entirely of the west, saw in Law
son benefactor Of the people, man
destined to check corporate greed and
aggression. They had witnessed the
ever increasing tendency in our country
towards consolidation and concentration
Of financial power, and the fragrant
abuses accompanying. To them the ad-
vent Of Lawson appeared to mark the
beginning of great things working for
change. ! :.m
The first class came in time to know
that their condemnation and villifca-
They hid themselves for shame, when,
by the quarrels of cliques and rival
groups in their own money world a
breach was made in the wall Of secrecy,
and a mass of scandal and corruption
rushed out, worse even than anything
Lawson had limited at.
The second class came finally to be
disappointed in the man. They saw him
at close range when he toured the west.
He measured up to all expectation in
force Of presence, power Of address and
general mental alertness. Yet the mark
Of the professional speculator and mar
ket manipulation remained upon him,
and an indefnable something, that, de-
spite all evidence. of sincerity on his
part, left some who met him unable to
shake off the feeling of having been
in touch with one who was not entirely
sincere. : =
! Lawson is indeed an interesting phe-
nomenon in present. day finance. ! He
has been very useful and the net re-
suits Of his great disturbance are bene-
! fetal. To accuse hinSo of having been
actuated by desire for personal gain and
Of having written so unanimously and
aggressively to facilitate his own stock,
market operations might be to do him
injustice, yet to credit him solely with
, desire to lead, at his own expense, the
fight for personal vengeance, or for the
rights of the people, and to destroy the
iniquitous ''system' that the heritage
Of the people might be restored to them
} might make him smile inwardly. NJ
mathematical table Of Lawsonian moves
or motives is possible Of construction
7 for the next move to come might upset
all calculation. y; d. "",~
: One quality Lawson does possess thai
endears him to the American heart-ht
is fighter. His worst detractors 'hav,
never called him coward.
a The story is that he has lost SOM
;, millions. Lawson is a born speculator
: Presumably he knew well in advance O.
e moral rottenness in high finance. I
: was fair speculative calculation tina
disclosure would demoralize things an,
unsettle confidence, The short side il
$ securities was the logical play. Law
d son sold Amalgamated Copper dow
from TN to GIN and predicted that i
would 20 to 33. He was wrong. I
sold to 1925 on Friday last, and al
thru the list are other stocks that hav
r, risen materially within the year. TIL
e country was against Lawson. Will
s. his pronunciamentos were appearing an
L actual developments were bearing out
in Wall Street scandal, their worst hint
at financial immortality, the country wa
turning out big crops and business wa
good everywhere. A majority Of tn
people, pessimistic at first, were chang
ing over to the view that while pos
tions Of honor and trust had been gross
ly and shamelessly abused, nest o
financial pirates discovered, and col
porate Encouragement and lootin
As brought to light, the country nevertht
as less was sound financially at the hear
,e Adverse influences which ordinaril
= might have won the fight for Lawso
t te were overpowered by the unbounde
prosperity Of the country. -.,
1E7@@ George F. Piper