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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

Notes

CHAPTER IV

1

I know no better spot in my story than right here to set the public right on two vital points concerning Amalgamated, upon which they are and always have been greatly at sea:

John D. Rockefeller did not have before the Amalgamated Company was organized and floated, nor at its organization and flotation, directly or indirectly, a dollar's interest in its stock nor its affairs, and I have what I consider excellent reasons for believing he has not had any interest up to the time of this writing. The disasters which have come to the Amalgamated stockholders did not occur, as has been so industriously and ingeniously advertised throughout the world, because of the inability of the "Standard Oil"-Amalgamated-City Bank fraternity to prevent the collapse of the price of copper, the metal, from the high price of seventeen cents to the low one of eleven cents per pound. "Cornering" the metal market, forcing the price to an abnormally high figure and maintaining it there had, notwithstanding the many emphatic statements to the contrary, absolutely no part in any of our original plans, and the success or failure of our project was in no way dependent upon any price for copper, the metal, other than the fair and legitimate price caused by legitimate supply and demand.

In fact, as I shall demonstrate before my story is ended, forcing the price to extremely high points and the resulting collapse were all a part of the trickery by which the public was plundered.

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