Blackwood's Edinburgh Magazine, Volume 63, No. 391, May, 1848 — John Shaqi
Blackwood's Edinburgh Magazine, Volume 63, No. 391, May, 1848Various
General
Blackwood's Edinburgh Magazine, Volume 63, No. 391, May, 1848
Various
England -- Periodicals; Scotland -- Periodicals
"A vein of the finest coal has been discovered on the estates of the
celebrated philanthropist, John Jones Tibbets, Esq. This new mine, the
Molly Wheel, having been satisfactorily tested by that eminent
engineer, Giles Compass, Esq., promises an inexhaustible field to the
energies of the benevolent and the wealth of the capitalist. It is
calculated that the best coals may be delivered, screened, at the
mouth of the Thames, for 18s. per load, yielding a profit of not less
than forty-eight per cent to the shareholders. Shares, £50, to be paid
in five instalments. Capital to be subscribed, one million. For
shares, early application must be made to Messrs Blunt and Tin,
solicitors, Lothbury."
Here, then, was something tangible for fellow-creatures to go
on--there was land, there was a mine, there was coal, and there
actually came shareholders and capital. Uncle Jack was so persuaded
that his fortune was now to be made, and had, moreover, so great a
desire to share the glory of ruining the monster monopoly of the
London wharfs, that he refused a very large offer to dispose of the
property altogether, remained chief shareholder, and removed to
London, where he set up his carriage, and gave dinners to his
fellow-directors. For no less than three years did this company
flourish, having submitted the entire direction and working of the
mines to that eminent engineer, Giles Compass--twenty per cent was
paid regularly by that gentleman to the shareholders, and the shares
were at more than cent per cent, when, one bright morning, when least
expected, Giles Compass, Esq. removed himself to that wider field for
genius like his, the United States; and it was discovered that the
mine had for more than a year run itself into a great pit of water,
and that Mr Compass had been paying the shareholders out of their own
capital. My uncle had the satisfaction this time of being ruined in
very good company: three doctors of divinity, two county members, a
Scotch lord, and an East India director, were all in the same
boat,--that boat which went down with the coal-mine into the great
water pit!
Public-domain text, read in full here on John Shaqi.
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