Book Reviews, Economics

Frenzied Finance: The Crime of Amalgamated

A classic …. Frenzied Finance: The Crime of Amalgamated Paperback by Thomas William Lawson

Frenzied Finance: The Crime of Amalgamated

American businessman THOMAS WILLIAM LAWSON (1857-1925) was notorious for his stock manipulations, but that was nothing to the infamy he achieved when he turned against his partners, Henry H. Rogers and William Rockefeller, in the Amalgamated Copper Mining Company. In this 1906 work-a forgotten classic of muckraking by an insider to the crimes uncovered-Lawson told all about the ruthless practices deployed to create this trust, making no bones abut his own involvement. Pulling no punches, Lawson discusses: • “juggling with millions of the people’s money” • “bribing a legislature” • “the magic world of finance” • “how Wall Street’s manipulations affect the country” • and much more. As the globe reels from 21st-century financial crimes, this is a stunning reminder of lessons of old that went unheeded.

Frenzied Finance: The Crime of Amalgamated Paperback

About the Author

Thomas W. Lawson was one of this nation’s most brilliant and eccentric stockbrokers. At the age of twelve, he left school to work as an office boy with a brokerage firm in Boston, and early in his career he began speculating in stocks. Lawson’s abilities were early recognized by the magnates of Standard Oil, and he became their ally for several years. By 1900 he was worth at least fifty millions. In 1897 he became connected with the promotion of Amalgamated Copper, Standard Oil’s name for the Anaconda mine and allied properties. “On this stock they [Standard Oil capitalists] now made a handsome profit, with Lawson acting as their chief broker. The stock thereafter rapidly declined in price and many holders of it suffered heavy losses.” –This text refers to an alternate Paperback edition.

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