“Early in the year a property called the Red Shallows, situated in
West Africa, was brought to him by a syndicate of seven men, able, but
somewhat unscrupulous financiers. Their story appeared incredible on
its face, for it was no less than that the gold was on the surface, in
estimated value a thousand times the amount for which they wished the
company formed. They wished my father to underwrite the company for a
hundred thousand pounds, and they stipulated that the shares should
be sold, not by public subscription, but taken up privately among my
father’s clients. Afterwards, when the value of the property was fully
proved, there would be an immense flotation running into millions, and
the profit of this my father was to share.”
“Pardon my interruption,” said his lordship.
“If what these men stated was true, why didn’t they send some one with
a basket, and gather the gold they needed, without going to any
stockbroker and sharing with him.”
“That, my lord, is practically what my father thought, although, of
course, he did not believe a word of their story. Still, he understood
that these men were not mine magnates in the proper sense of the word;
they were merely financiers, speculators, who did not wish to wait for
the full development of their property, but simply intended, so they
said, to go as far as was necessary to convince the public that this was
an even bigger thing than the wealthiest mine of the Rand, and so loot
their gold, not from the bosom of the earth, but from the pockets of the
British public; but, as I have said, he did not believe a word of their
story. However, he made the usual proviso that they should send me out
there, and the seven men instantly placed in his hands the necessary
amount for my expenses, and I sailed away.”
“Why should sane financiers spend good money when they knew they would
be found out if they were not telling the truth?”
Public-domain text, read in full here on John Shaqi.
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