Mortomley's Estate: A Novel. Vol. 1 (of 3)Riddell, J. H., Mrs.
General
Mortomley's Estate: A Novel. Vol. 1 (of 3)
Riddell, J. H., Mrs.
Bankruptcy -- Fiction; England -- Fiction
Facing the river the imposing-looking warehouses of the General Chemical
Company rear themselves story on the top of story. To the left lies
London Bridge, the masts of the larger vessels showing at uncertain
intervals between the stream of vehicles flowing perpetually over it,
while to his right the old bridges and the new confuse themselves before
him, so that he has to pause for a moment before answering the eager
inquiries of a country cousin.
To look at the wharf, to look at the warehouses, to enter the offices,
most people a few years back would have said,
"Here is a solvent Company. It must be paying large dividends to its
shareholders."
Whereas the true history and state of the General Chemical Company
chanced to be this:
When in the palmy days of "promoting," long before Black Friday was
thought of, while the Corner House was a power in the City, the old and
long established business (_vide_ prospectus of the period) of Henrison
Brothers was merged into the General Chemical Company, Limited, with a
tribe of directors, manager, sub-manager, secretary, and
shareholders,--probably no one, excepting Mr. Henrison and his brothers
and the gentlemen who successfully floated the venture, was aware that
the old and highly respectable house was as near bankruptcy as any house
could well be.
Such, however, was the case, but a considerable time elapsed before the
directors and the shareholders found that out.
Mr. Henrison "consented" to remain as manager for one year after he and
his brothers put the purchase-money in their pockets, (the shares they
sold at discreet intervals), and it is unnecessary to say _he_ did not
enlighten the Company he represented about that part of the business.
Neither did the sub-manager, who hoped to succeed Mr. Henrison, and who
did succeed him. Neither did the secretary, whose ideas of the duties
connected with his office were exceedingly simple.
To do as little work as possible, and to draw as much money as he could
get, was the easy programme he sketched out for his own guidance; and
that the programme pleased his audience may be gathered from the fact,
that whilst shareholders varied, and directors resigned, and managers
were supplanted, that fortunate official's name remained on the
prospectus of the Company.
He beheld Henrison fulfil his year. He was on friendly terms with the
sub who succeeded him. He still nodded to that ex-sub and manager when
he was discharged for malpractices. He preserved his equanimity when the
next manager, also discharged, brought his action against the Company
for wrongful dismissal, and the Company, their eyes beginning to open,
compromised the matter rather than let the public light of day in on the
swindle Henrison Brothers had practiced.
Public-domain text, read in full here on John Shaqi.
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