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A Romance of the Stock Exchange.

(Hvma Nows. )

There has been great excitement in the London Stock Exchange these las', ten days over the doings of a criminally foolish sharebroker’s clerk, who, in his employer’s absence speculated not wisely but too deeply. The young gentleman was left in complete control of his master’s business while the master went on a yachting cruise in the Mediterranean with friends. Unfortunately for both himself and his employer, the clerk —who was a member of the Stock Exchange on bis own account—-took to gambling in stocks and shares. His master had played for heavy stakes and won them in a like game—why should not the clerk be equally fortunate? So, no doubt, the foolish youth thought as' he plunged into huge operations, venturing to have as much as Li 93,000 open in one stock alone, beside much else in others. But the luck went against him 3 and settlement day drew.near with what for him were enormous “differences” to be met. He had been trusted on his master’s account, whose name and authority he doubtless used, and there was no suspicion that there could be anything wrong. Everything, however, was wrong—very much wrong. The miserable clerk saw ruin staring him in the face, and cowardice urged him to make his escape. He became a fugitive, taking with him not only his master’s books, but also his cash balance at his banker’s and other moneys, amounting to Ly,ooo and has not since been heard of. The facts becoming known the telegraph wires were at once set in motion to communicate with the absent broker, who was for- . tunately found at some Mediterranean port within a very short time The master hastened home as quick as steam would bear him, and arrived in London on Tuesday. His clerk’s speculations had involved him in a loss of Li 6,000, which he honorably paid 3 so that, including what had been taken away, the master had lost L 23,000 by his yachting cruise, in addition to the expenses which his trip cost him. We should think he will not be in haste to go on another expedition of the sort.

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/AG18801224.2.12

Bibliographic details

Ashburton Guardian, Ashburton Guardian, Volume 2, Issue 225, 24 December 1880

Word Count
362

A Romance of the Stock Exchange. Ashburton Guardian, Volume 2, Issue 225, 24 December 1880

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