CodalSearch this book — or all of Codal…⌘K
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.

Page 85 of 731
Table of Contents

CHAPTER VIII

municipal authorities, came into play in this big new business of lighting cities—a business which perforce became a monopoly as soon as the powerful tentacles grasping it were recognized as "Standard Oil."

At the time my story opens (1894) "Standard Oil" had already captured the gas-lighting corporations of certain of the great cities of the United States, including the immensely rich ones of New York (directly), Philadelphia and Chicago (indirectly); and for two years previously had been besieging the several independent Brooklyn companies for the purpose of consolidating them into a single gigantic corporation. This project it has since accomplished. Its intention is to weld this corporation with the great one that already holds the monopoly of Manhattan.

The task of diagramming a territory for invasion is one after Henry H. Rogers' own heart. His campaigns are planned with Napoleonic power and foresight. When the capture of Brooklyn was decided on, the several corporations to be subdued were "sized up" as to their revenues and liabilities; the resources of their stockholders were studied out, and a plan of action organized to separate each one from his shares at "hard-pan" prices. In the "Standard Oil" armory there are many instruments of "persuasion," and he is indeed a hardy fellow who can resist the various "trying-out" processes to which mutineers are subjected. This obstinate capitalist will be summarily knocked on the head; that other inveigled into a dark corner by a strong-arm man; another group owe money to one of the "System's" banks and a brief spell on the financial rack will weaken their grip. Sooner or later all succumb. While such details as these were being attended to, lines were being strung here and there to bring about the passage by the city of Brooklyn and the Legislature of New York State of ordinances and laws which should allow this and compel that to be done, and so rivet the various links of the great venture.

While in the midst of this campaign, to which Henry H. Rogers' genius, matured in many a hard-fought business battle, foresaw an early and easy

85