Settling Day.

Southland Times, Issue 19264, 30 January 1904, Page 3 (Supplement)

Settling Day.

[ A STORY OF SHADY CITY LIFE 3 " The old-established and conservative " firm behaved very well to their clerk, j Richard Lascelles, when they contented 1 themselves with dismissing him. Guided by the advice ol a friend who "knew ' Brighton A's would rise, Lascelles hat borrowed . fifty pounds from tho firm— 8 without their knowledge. The friend had ' proved a false prophet. Brighton A's had not risen in price, they had not even remained stationary ; thoy had ' fallen, the fifty pounds had been swal- * lowed up, and Lascelles was compelled lo think whether it would be belter to " blow out his brains or to throw himself on tho firm's mercy. Before ho had settled which course io adopt, tho fraud was discovered. *' When I took the cheque," he pleaded in extenuation. " I give you my word of honour I only intended to keep tho money for a day or two, and then pay it back. "It is that Jtind) of intentions that pave the way to the Old Bail&y," said the junior partner. " However, I will believe you intended to repay the money. 1 will not prosecute. I am aoirry $t).r y*our parents." So at the age of twenty-two Lascelles walked down Cornhill, n clerk disauj.jse-i without a character, but with tho world be/ore him waiting to be conquered. His friend, a bogus "outside" stockbroker, explained his method of making money, and offered him the loan of n roll of five-pound notes. Lascelles bluntly declined the money, saying he did not care to receive stolen goods. Three weeks passes and, though he trudged about all day, he could find no situation as a. cleric. Then he went to tho docks, thinking to become a dock labourer until he could get something better ; but he found the competi- . tion even more keen there than in. tbe city. ] He thought of enlisting, but could not bring himself to do so ; and he thought of suicide, but he was not a coward; and, dismissing the idea, determined to fight on to the bitter end. He continued to " play the square game " until a letter came from bis father, informing him that his mother had died, and that her death had been hastened by the news of her son's disgrace. The writer was brokenhearted, angry, and said more than he meant. Henceforth his son was no son of l.ia, and ho should bo what he had chosen to be— an outcast. Lascelles, who had dearly loved his mother, waa in no mood to mako allowances for his father's anger. An outcast wus he ? Then bo it so ! He thought of his friend the "outside " broker and his easily-acquired wealth. He called himself i" John Brown and Co., stock and share dealers, established 1850," and he had printed (on credit) u circular iu which ho stated he had exclusive information concerning some American railway stock, and that he could oiler a thousand per cent return to those who entrusted him with their money. Lascelles had dated his circulars from au accommodation address, and when ho called at the little tobacconist's shop ho was handed a largo hundle of letters. Each of these contained cheques and postal orders from a sovereign upwards, and one cheque for one hundred* pounds ; tho - total was a hundred and fifty pounds. With this money Lascelles took a little office in Cheapside and began business as an " outside broker '* in real earnest. At first he advised clients to deal in an unspecified stock which ho " had private information from authoritative sources " was certain of rising. He embezzled the money which was sent, und, after a little delay, despatched another circular to his victims stating that tho stock had fallen instead of rising, and that consequently their money was lost. He made money so quickly thnt thero was every probability he would bo able to retire al thirty unless, indeed, ho retired still earlier to Pontonville or Dartmoor. But he was always afraid of tho latter, and he wanted to make one good haul and clear out of the city. His chance came. " I've got a gold mine in my trunk across tho corridor. It's not worth a damn— it's a property I picked up when I was on the Ivydene, and I sold it to a compa-ny whon I came back to London, und tho company was wound up and I got the property back for a song," u " pall " told him. " There's no, gold in it— l don't know if you remember what a frost the Ivydeno was— but if we promised 20 per cent, dividends, and asked enough for it, we might pay our expenses with a bit over. I'd have tried* to do something with it before, only I haven't got the money to do it with. If I take it to another promoter he'd want to cop the boodle himself. I've been looking .for a roan with a little capital that'll work the thing with mo in partnership. Do you care to como in ?" Lascelles eventually decided to como in. " It's in a gold mine, so we'll call it a gold mine ; but as a matter of fact we could call it anything we darn well pleased— a blacklead mine, or a Colman's mustard minis. There's plenty of gold to be 'got out of it, only the public will havo to put it in first." Lascelles and the " pal " Marshall" set to work to get together a board of directors, a guinea-pig peer, .and other equally valueless persons. The capital was nominally £70,000, and £10,000 was actually subscribed. On this capital they went to allotment. Of course the Cwtamount Company never paid its way, a<nd soon after its inauguration Lascelles and Marshall convened a meeting of tho shareholder to tell them it was no good going, on with the development of tho property, as there was no gold*, in the mine and no money iu tho bank. Tho meeting of tho shareholders 'wus stormy. Especially violent was the behaviour of a farmer who held fivo £>1 shares and called all the directors vagabond-, scoundrels, and worse. At Jaat

Marshall, for the sako of peace, boughl back the old man's shares. " Will you buy my shores, sir?" asked an old lady who had invested most ol her savings in tho Catamount, and was ? looking- forward to going on the parish. " No, madam. It'll bo hotter for you 1 to hold them. I'd have given this I gentleman tho samo advice if he had be- • haved himself." j " Gi'c us thy money," said the farmer, . with a hoarso laugh. " Tho,u*li buy my . Jive shares. That'll only cost you a fi'- , pun note, and you're afraid, maybe, that I'll put a lawyer on 3-011. But you won't ' buy this poor old dame's becauso sho has a hundred." The fanner's belief was not unnatural, ' hut it so happened that it was not true. 1 The wonderful had happened. Tho worthless gold mine was worth its weight in ■ gold naw. for the following cablegram was received actually while tho shareholders were aueetiug to wind up tho cancern :— " Paying diamonds on Catamount. Very, good thing. Morgan." " Does it mean that my money ain't lost then, after all ?" asked the old lady. "So far from being lost, madam, it is exceedingly likely that in a few hours' time, when the news is known in the city, our shares will bo quoTed on tho Stock Exchange at ten pounds, and that your hundred shares will be worth a thousand pounds. I suppose you've brought the certificates in that handbag. Hold it tight when you go away, or some one may snatch it." The cablegram was genuine, and the Catamount shares went up and up and up— ten, fifteen, twenty, thirty pounds per £1 share was offered '.\ And yet tho shareholders held on to. their certificates, -ind would not sell. Every one connected with the mine was made for life. The guinea-pig Lord Moorgato was able to rebuild his castle, Marshall was a rich man, and Lascelles was able to quit the city Sor ever, and to marry the little girl who had inspired ir. him, all unknown to herself, those thoughts of regret at the course his life was taking, to which reference has already been made." " Settling Day "is a vivid picture of the shady side of city life, and the types which are so graphically described in its pages may be met any day in the purlieus of Throgmortor. street.