The Washington herald., 1907-09-22
Takes Another Shot at ROg-
ers and His Deals.
TELLS OF ALLEGED COUPS
Boston Spectator Thinks OIL Mag
nate Is Getting Ready for Another
"SInuHhter of InnOcents''-United
Metal Selling Company and Its
Contract with the Producers.

which he heads The Crime Of the Age,
Thomas w. Lawson takes one OF his ac-
customed filings at the System this time
making the Standard oil trust the object
Of his attack. The statement is as follows:
"Of all the deYiltries Of the system, Of
which / have written, none SURPRISES in
hellsh cruelty the result Of the monopoly
Of copper. There is an innocent appear
ing corporation named the United Metal
Selling Company, only 900 capital, all
owned by Henry II. Rogers and his close
associates.
This company has contracts with the
majority Of the coppcr-producing miEes
Of America. It's contract is as simple in
its outward form as the poisoned spoon
OF the Turk and fully as fatal 10 the
/ babes il feeds These copper producing
companies give the selling company the
sole right to dispose of their production.
hundreds Of millions Of pounds annually,
at time and price in the discretion OF the
selling company. The selling companys
charge for this service is a fair commits
sion. n addition. the selling company ad-
vanced the different companies % per cent
Of the selling price OF all copper produced
upon certificate 10 the effect that the
copper has been put in its storehouse.
Gould anything be simpler. fairer look
ing?
How Arrangement Works.
"This Is how 81 works: All companies
are at ali times absolutely at the mercy
Of the selling companies. for as soon as
The selling company drops the price, the
companies are IN its debt for the money
advanced over the new made selling price.
The owners and controller Of the sell
ing company can sell at the top Of the
market all the copper actually on hand.
and thereby notify the different companies
.of such frmness IN the market that they
should rush production. which in turn
I causes these companies 20 take on more
men, and. as IN the present case. increase
wages. which all causes he price OF cop
per stocks 20 advance.
THE controller Of the selling company
can then sell IN London for future de-
livery al q substantial shade from the
market Say IL Is 1i cents. as in tie
present cases Re sells at 3. p and y
cents 10000 600 lbs for future delivery,
DE knowing be has the copper market ah-
sblutely ~ his mercy. and thereby Is
granted q smash Ga the price Of copper
stocks az any time bee desires. selling
100000 shares Of AmaIgamated and other
copper stocks short, AmalEamated, from
IS 90 Ilo, North Butte, az 10 TO 30, and
others In proportion"
Then stocks Take Tumble.
Tie then suddenly announces that all
demands for copper has disappeared.
which is confirmed by the consumers.
. who. knowing they are loaded with a
contract calling for I@C.Goaooo pounds in
the future. realize that there can be no
large demand under the existing un-
. settled condition. The controller of the
selling company then announces 10 the
b world that there are E0CH16o pounds
b accumulated. although this IS In reality
only ~ per cent Of the short sales. Also
that this amount viii soon double and
! treble At the time DE makes this an
, nounCCmeut he begins 10 rapidly drop the
, price Of the metal and crash goes the
price Of coppers under the leadership Of
b Amalsamated. which presto. is =, in-
, stead Of 10 North Butte a. instead OF
? I-0 and others in proportion. and cop
. per the metal is offered with no takers.
AZ u cents per pound and all mines CEN
ter.ng in tie selling company reduce pro-
duction ~ per cent with threats 70 re-
b duce ii . to 80 per cent more. tsereby
4 throwing out Of employment thousands
2 Of workmen.
scoops I'm the Millions.
Presto again and the world hears
there has been an enormous sale Of cop
per at slaughter prices. say = cents. The
selling companies informs the mines,
whose agent if is because Il must secure
the amount Of cash It has a right TO call
for. because Of the drop in the price be-
low the amount advanced Result, ID
cents a pound; profit on Lo)0C0CCl
b pounds OF the sales Sl0oO00o00 and N50.-
b C00olo. More profit on short sales OF
, stocks, total pillage Of $250000,000 and
;he controller Of the selling company in
excellent shape for a repetition of the
piIaga two OF three years hence
The deed was perpetrated in 1902 to the
tune Of over Sl00GO.000 profit. and copper
the metal was slaughtered from 20 cents
] 10 II cents, and Amalgamated from 40 10
o. SO, and others in proportion.
D To-day it is being repeated, but there
is no danger. In 1892 Rogers enormous
selling was discovered. but the people
| were quilted when his henchmen showed
he was about 10 die and was selling all
his security holdings TO avoid contest OF
{ Will Mr.. Rogers personally gave me this
. explanation at the time
When it blew over-AIr. Rogers is the
.f,g has
ever seen in blowing things over-he slid
in again.
Getting AIibi Ready.
Last February he was making ready
for the crash. preparing his alibi His
first public move was the giving to the
world. through his press agent, that he
discounted 100000 Of his notes Of his
i, Virginia railroad at S per cent interest.
Those who know his real condition, had
absolute proof he was shooting with cash
at the time. When his alibi was all per-
feet he slipped over to Europe and the
result is here to-day. His henchmen show
COnClusively he has had a shock tfrOm
[ surpressing merriment at the gullibility
{ of the sucker public and his press agents
? are working overtime in spreading broad
I cast that he has gone broke building his
Virginia railroad. an enterprise which
has absorbed only S1S,000 600 cash all told,
and this. supplied by Mr.. Rogers and his
i associates. There has been no time in
q ten years when Mr.. Rogers could not
e. supply SlS,00Q,000 at short notice by tele-
{ phone without turning a financial hair.
The great question for the 100000 cop
! per stockholders is; VIII Henry II. Rogers
get away with his huff this time "a he