“The Brandon Bank has been going at a rate that would have foundered any
other concern long ago. There’s not a man that I sent there who has not
been welcomed and obtained all that he wanted. Most of the money that
they advanced has been to men that I sent. They drew on us for the money
and sent us various securities of their own, holding the securities
of these applicants. It is simply bewildering to think how easily that
scoundrel fell into the snare.”
“When a man has made a fortune easily he gets rid of it easily,” said
Louis, laconically. “Potts thinks that all his applicants are leading
men of the county. I take good care that they go there as baronets at
least. Some are lords. He is overpowered in the presence of these lords,
and gives them what they ask on their own terms. In his letters he
has made some attempts at an expression of gratitude for our great
liberality. This I enjoyed somewhat. The villain is not a difficult one
to manage, at least in the financial way. I leave the dénouement to you,
Louis.”
“The dénouement must not be long delayed now.”
“Well, for that matter things are so arranged that we may have ‘the
beginning of the end’ as soon as you choose.”
“What are the debts of the Brandon Bank to us now?”
“Five hundred and fifteen thousand one hundred and fifty pounds,” said
Frank.
“Five hundred thousand--very good,” returned Louis, thoughtfully. “And
how is the sum secured?”
“Chiefly by acknowledgments from the bank with the indorsement of John
Potts, President.”
“What are the other liabilities?”
“He has implored me to purchase for him or sell him some California
stock. I have reluctantly consented to do so,” continued Frank, with a
sardonic smile, “entirely through the request of my senior, and he has
taken a hundred shares at a thousand pounds each.”
“One hundred thousand pounds,” said Louis.
“I consented to take his notes,” continued Frank, “purely out of regard
to the recommendations of my senior.”
“Any thing else?” asked Louis.
“He urged me to recommend him to a good broker who might purchase stock
for him in reliable companies. I created a broker and recommended him.
He asked me also confidentially to tell him which stocks were best, so
I kindly advised him to purchase the Mexican and the Guatemala loan. I
also recommended the Venezuela bonds. I threw all these into the market,
and by dextrous manipulation raised the price to 3 per cent, premium. He
paid £103 for every £100. When he wants to sell out, as he may one day
wish to do, he will be lucky if he gets 35 per cent”
“How much did he buy?”
“Mexican loan, fifty thousand; Guatemala, fifty thousand; and Venezuela
bonds, fifty thousand.”
“He is quite lavish.”
“Oh, quite. That makes it so pleasant to do business with him.”
“Did you advance the money for this?”