Then he tried the stock market, made a few thousands in oil and grew
more interested. A rubber speculation hurt him, but not so much that
his enthusiasm was damped or his bank balance was seriously affected.
He followed this loss with what might have been a disastrous
investment in South African Mines. Then, at a nerve-racking moment,
came Steppe, who held up the market and let out Merville, bruised and
shaken, but not ruinously so. Here might have ended the speculative
career of Dr. Merville, had he not been under an obligation to the
South African. Within a month of their meeting, the doctor's name
appeared on the prospectus of one of Steppe's companies--a mild and
unromantic cold storage flotation which was a success in every sense.
Merville had many friends in society; people who might look askance
at the name of Jan Steppe, and be disturbed by the recollection of
certain other companies which that gentleman had floated, accepted
Dr. Merville's directorship as evidence of the company's stability
and financial soundness. The issue was over-subscribed and paid a
dividend from the first year.
This object lesson was not lost upon the big man. He followed the
promotion with another. The East Rand Consolidated Deep was floated
for three-quarters of a million. Applications came in for two
millions. Dr. Merville was chairman of the board. Even Jan Steppe
was surprised. Large as was the circle of Merville's acquaintances,
neither his personal popularity nor his standing as a financial
authority could account for this overwhelming success. Merville
himself discounted his own influence, not realizing that in the
twenty-five years of professional life, he had built up a national
reputation. His name had been a household word since his treatment
of a foreign royalty whose case had been regarded by native
physicians as hopeless. This may not have been a complete
explanation; probably the fact that the stock in the cold storage
company stood at a premium had something to do with the rush for
Consolidated Deeps.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account