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nydus/Frenzied Finance, Vol. 1: The Crime of AmalgamatedPublic

This volume compiles a series of articles originally published in Everybody's Magazine concerning the practices of high finance. The author presents a historical account of business dealings spanning twelve years and challenges readers to evaluate the veracity of the events described.

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Table of Contents

III

  1. Why would it not have been a crime to dispose of only 50,000 shares when the whole 750,000 were advertised?
  1. Messrs. Rogers and Rockefeller were the Amalgamated Company after purchasing the capital stock from the office-boys, were they not?
  1. If Rogers and Rockefeller paid for their shares, what became of the Amalgamated Company's $75,000,000 secured by sale of stock?

These may sound foolish to you, but I'm interested and should like to understand.

Permit me to state that I admire your pluck and ability and wish you success in your remedy, whatever it may be.

Respectfully yours,

(Signed) ——

I replied:

Your first question is a hard one to answer, as it goes to the very foundation of "the stock-market." In the ideal operation of stock-markets, owners of valuable properties should always allow the public to join in their "good things" at fair prices, because all who thus participated would make money and would be ready for the next "good thing," and so on to the end. On the other hand, if the public were only invited into the "bad things," in time they would not come in on anything, good or bad, and there would be no stock-market. The foundation of stock-markets, like all other kinds of markets, is the public interest therein—for it is the

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