CodalSearch this book — or all of Codal…⌘K
nydus/Frenzied Finance, Volume I: The Crime of AmalgamatedPublic
Page 171 of 730
Table of Contents

CHAPTER XIX

The experience of any man who has had to do with political and financial affairs invariably shows him that nothing ever happens of itself. Thunderbolts do descend from clear skies, but an enemy and not nature has hurled them. A clever tactician will always look for his antagonist's hand behind any isolated or detached fluctuation of public feeling which bears in the slightest degree upon his problem. In going over the circumstances, looking for the correct interpretation of the appearance in our field of this second Richmond, I took into consideration the fact that H. M. Whitney was deep in a speculative venture, Dominion Coal, which owned vast tracts of these low-grade coal lands in Nova Scotia, and it was known he had been trying vainly to utilize their products in the locomotives of the Boston & Maine Railroad and several other ventures in which he was a controlling factor. In one way it seemed reasonable that if Whitney really had found a way to get something out of his coal, he was justified in making the best possible use of it. On the other hand, I could not but see how the new project brought about the very situation at which Rogers had so long been aiming. Selling gas at 75 or 50 cents, the new company would absolutely command the business; the old companies must go bankrupt, pass into a receiver's hands, and in due course would be absorbed by the Whitney corporation. That would leave but one gas company in complete control of the Boston field, and it would not be bound to continue the low prices when competition had disappeared, but would be legally free to go back to the old rates of $1 and $1.25. In a combination which so completely went Rogers' way, surely his fine slim Italian hand might be perceived at the throttle.

Once I had made up my mind by what we were confronted, I lost no time. Inquiries revealed that Whitney's alleged control of the Legislature was not exaggerated. In fact, it seemed eager to do his bidding in any direction. There was no space for negotiation or deliberation, so I

171