Capitalists and financiers -- Fiction; Great Britain -- Politics and government -- Fiction; Political fiction
Elated, and (it must be admitted) rendered a little wayward in judgment
by this accession of wealth, Mr. Clutterbuck was more deeply convinced
of advancing prosperity when the rise of Government credit during
the next weeks still further increased the value of the bonds which
his bank held for him. He sold in July, and with the sum he realised
entered upon yet another venture, which must be briefly reviewed. Upon
the advice of an old and dear friend he purchased no less than 72,000
shares in the discredited property of the Curicanti Docks. The one
pound shares of that unhappy concern had fallen steadily since 1897,
when the whaling station had been removed to Dolores; but even here,
imprudent as the speculation may appear, his good fortune followed him.
The friend whose advice Mr. Clutterbuck had followed--a private
gentleman--had himself long held shares in the property of that
distant port; its continued misfortune had raised in him such doubts
as to its future that he thought it better a solid brain such as Mr.
Clutterbuck's should help to direct its fortunes, than that he and
others like him should be at the loss of their small capital. He
arranged with an intermediary for the sale of the shares should Mr.
Clutterbuck desire to purchase in the open market, and was relieved
beyond measure to find his advice followed and Mr. Clutterbuck
in possession of the whole parcel at one and a penny each. To
the astonishment, however, of the friend, and still more of the
intermediary whom that friend had employed, the difficulties of the
Curicanti Docks were in the very next month submitted to arbitration; a
man of Cabinet rank, whose name I honour too much to mention here, was
appointed arbitrator. The help of the Imperial Government was afforded
to re-establish a concern whose failings were purely commercial, but
whose strategic importance to the Empire it needs but a glance at the
map to perceive. The shares which had dropped some days after Mr.
Clutterbuck's purchase to between ninepence ha'pennny and ninepence
three farthings, rose at once upon the news of this Imperial Decision
to half a crown. The negotiations were conducted by that tried
statesman with so much skill and integrity that, before September, the
same shares were at eight and fourpence, and though the commercial
transactions of the port and the grant of Government money upon the
Admiralty vote did not warrant the public excitement in this particular
form of investment, it was confidently prophesied they would go to par.
They did not do so, but when they had reached, and were passing, ten
shillings Mr. Clutterbuck sold.
Public-domain text, read in full here on John Shaqi.
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