The figures were paralyzing. I made no attempt to analyze them. They came so late that as soon as the newspaper-men with me got them they flew to their offices and thus I escaped a strenuous ordeal of interviewing. Our arrangements for distributing the facts throughout the country were made through the Boston Financial News, to which we had given the exclusive right to send out the details, and its special wires were soon clicking the news to all the world. The next morning the press contained the particulars. I reproduce from the papers of May 5th the tale.
$412,000,000 FOR AMALGAMATED COPPERS
$75,000,000 Subscribed More Than Five Times Over
FINANCIAL WORLD COPPER MAD
Subscriptions of $412,000,000—the largest in any financial deal in the world's history—are reported by the Boston Financial News to have been received toward the Amalgamated Company. "The world has gone copper mad" in truth.
Subscribers can be allotted only eighteen one-hundredths, or less than one share in five of the amount applied for.
One week ago, says the report, it was announced that the Standard Oil magnates, Rogers, Rockefeller, and their associates, had begun their conquering march upon copperdom—that the much heralded copper consolidation was a thing of fact—that the Amalgamated Company had been incorporated, and that its first capital, $75,000,000, would be offered to the public by subscription through the National City Bank of New York at 100 per share, without a discount, a commission, or profit to any one.