There was no doubt the new combination was a winner for both of us. If Whitney got the charter, he would be in a position to make a lot of money out of his Dominion Coal stock, which would surely go up with a bound in company with Bay State Gas stock when it became known that our companies were in the new deal. Besides, all the talk he would make over the value of the charter would help create a market for new stock which we would issue for the purpose of obtaining funds to buy Rogers out. Later, if Whitney's invention was what he imagined, his own profit would run into millions and our properties, having the sole right to distribution, would be stronger than ever. That meant resuscitation of Bay State Gas, and that all the stocks and bonds held by my friends and the public would return splendid profits.
I tested the scheme in all its aspects and found only one weak spot in it. We, the Boston companies, were to "go snags" with Whitney in the results of a legislative game in which he was to bear the expense of getting a charter, and as Whitney and Towle said it was to cost them $250,000 to $300,000 to get it, it looked as if there would be some nasty business done at the State House.
I do not set up for a saint, nor to possessing exclusive virtues which distinguish me from the ordinary American citizen who does business for gain. In reiterating that the bribery end of our "hitch-up" with Whitney did not appeal to me, I am neither pluming nor crowning myself; I am merely stating a fact. This was an emergency, however, I could not regard as a mere personal concern. It was my duty to care for the interests of a great property which must not be endangered by my scruples, and I was willing to be advised by my business friends in the matter. I went round among my most conservative banking, business, and newspaper connections and put hypothetical questions to them bearing on my difficulty. In nearly all instances the replies were the same, and the subject seemed to be regarded as a joke—what were legislatures for, anyway, but to be "fixed"? All who did business with legislatures "fixed" them, and Whitney was certainly the star "fixer." I frankly stated that I considered bribing a legislator as a low-down crime and that I did not believe it was done in our strait-laced old Commonwealth as freely as they all seemed to imagine. Thereupon I was sarcastically referred to my Bell Telephone, New Haven, and Boston & Maine Railroad friends, to the organizers of trust companies, and to many other representative pillars of social and business society who had had occasion to deal with the State. I started at once a round of investigation among men who would talk frankly to me, and discovered that a most iniquitous condition existed. Massachusetts senators and representatives were not only bought and sold as sausages or fish are in the markets, but there existed a regular quotation schedule for their votes. Many of the prominent lawyers of the State were traffickers in legislation, and earned large fees engineering the repeal of old laws and the passage of new ones. Agents of corporations nominated candidates for office, and paid the expenses of their election in return for votes for a favorite measure and promises to "do business." The Legislature was organized on the same basis; its executive officers were chosen because of their subservience to certain corporation leaders; committees were rigged to do given things and prevent other things from being done. Above all, I learned that the chance of a citizen of Massachusetts obtaining a charter from the Legislature of his State, unless he had money to put up for it, was about as good as a hobo's of securing a diamond and ruby studded crown at Tiffany's by explaining that he wanted it. In fact, the citizen's request would be regarded by senators and representatives very much as Tiffany's would regard the hobo's—as a joke first, then as an impertinence.
Right here I desire to say to my readers and especially to all those hypocritical and ignorant people who, imagining any strong statement must express a strong prejudice and not a fact, will cry, "He overstates! He exaggerates!" that in years after when I had full opportunity to study at close range the Massachusetts Legislature, its workings and those who worked it, all the impressions I had received at this time were absolutely confirmed. I do not hesitate to state, then, that:
The Massachusetts Legislature is bought and sold as are sausages and fish at the markets and wharves. That the largest, wealthiest, and most prominent corporations in New England, whose affairs are conducted by our most representative citizens, habitually corrupt the Massachusetts Legislature, and the man of wealth connected with such corporations who would enter protest against the iniquity would be looked on as a "class anarchist." I will go further and state that if in New England a man of the type of Folk, of Missouri, can be found who, after giving over six months to turning up the legislative and Boston municipal sod of the past ten years, does not expose to the world a condition of rottenness more rotten than was ever before exhibited in any community in the civilized world, it will be because he has been suffocated by the stench of what he exhumes.
To return to my story, after my investigations I again saw Whitney and Towle, and they, not relishing my remarks on the subject of bribery, told me frankly to attend to my own part of the affair and leave their part to them. At this stage I called in Addicks, our corporation counsel, and some of the largest holders of Bay State bonds and stock, and put before them the bargain I had arranged with Whitney. They all agreed it was an excellent combination, and ratified the terms I had proposed to Whitney. It was further agreed that Whitney should make over to us one-half ownership in the new company, which we were to transfer to the Bay State Company after the charter had been granted.
There was every reason at this stage in the deal to regard victory as assured, for it did look as though the flapping sails on our much-buffeted and battered craft were at last to be filled with a lusty breeze strong enough to carry us to the harbor we had so long been trying to make. Besides what we ourselves could do and had already done, we now had Whitney for an ally in the deal, and certainly he was a stock-selling power throughout New England. He had agreed to go before the Legislature and the public, and pledge his word that his scheme would do all the wonderful things he had promised for it.[8] And when amid acclamation the charter was awarded and it became known that we were its beneficiaries, I could see our stock soaring.
FOOTNOTES:
[8] As a matter of fact, he did, later, in the peroration of an eloquent address before a public legislative hearing, electrify the law-makers with: "I here and now pledge my word, my fortune, and my sacred honor to the fulfilment of these promises."