THE TRUE STORY OF THE BRADA MINING COMPANY LIMITED.

Waipawa Mail, Volume XIII, Issue 2499, 30 August 1890, Page 5 (Supplement)

THE TRUE STORY OF THE BRADA MINING COMPANY LIMITED.

(•OSOLfc*KB FOOII OCR I. A ST.) PART 11. Mr. Johnson kept his appointment at *eveu ° ck ? ck that and while Zeb's sister wax serving customers in the shop, he and Zeb were seated in the cosy little parlour behind, which “ a ?t ® eeß 133,16 tid J * OT the occasion. The migineer lost no time in getting to business. Beyond all aoubt, be eaid, this mine, if properly managed, would be a big thing. But money—a very large mim~would be required to work it. Was Mr. Quirk prepared to find the meney v Zeb fankly admitted he had not a, five-pound note to spare in the world, *ud did aot know where to look for another farthiS. Mr. Johnson laughed at him. He was very pleasant, very eoeiu!able--quite the gentleman, Zeb thought. He pat the amount required at forty thousand pounds, and spoke of it in such an airy way that Zeb, though appalled by the magnitude of the figures, could not but regard him with admiring awe. It was 9 big sum he admitted—a very big sum : but ho had rich’friends in England’ andbe beiieved that, by extreme labour, ho could raise if. Of course he must he paid for his work ; that was only in the ordinary course of business. ,s Now,Mr. Quirk/’ said he, “here is my proposal. Will you be satisfied with tweutv thousand pounds in shares V If *o, I wiii guarantee you that, en condition that 1 may take any further profit there may be, in return for my trouble in floating the company.’» Twenty thousand pounds.' It unite look Zeb’s breath away. lie tried to realise what that sum meant uud completely failed. “One-tenth of that“ ho “gasped. “ Only get me a tenth—and take all the rest—and God blessyou, Mr. Johns*» !” “ Oh, you are fairly entitled to the amount I named,' said Mr. J vim son magnanimously “You must not take a pennv less.' I will have none of it. Twenty thousand pounds in shares —that is the price you are to leceive for your lease. Coins, shall wo di.tw upnußgrecinont?'’ In rather a dtfxed way Zeb fetched pens, ink, and paper: Mr. Johnson drafted a sort of deed of partnership : witnesses were called in from the shop; thedoenment was duly signed, and the thing was done. Then the two new partners shook hands and congratulations were exchanged, most of this beißg done by Mr. Johnson, for Zeb was too da/.xled by the prospect to be able to say mueb. But just as they were parting Zeb asked : “ When will you come with me to look at the mine ?’* “ Oh, I don't know. Is it necessary r” “ Have you seen it yet >** “^o t iio,” answered Mr. Johnson, hastily. “ Where is it? Somewhere up on farm, isn’t it V” Zeb thought this rather odd, but before he eould express an opinion Mr. Johnson went on lightly: “ Well, perhaps I may as well go with vou. paituer. To-morrow morning at t.n ; “will that suit you '( Then I can inspect the mine, collect specimens, write a report, and be ready to fdart away for London at once.” And this was precisely what Mr. Johnson did. I’hree days later he left the island and the ■w-ene of active operations was transferred to London. From a large and handsome office in the city a prospectus was presently issued, headed “ The Bra da Mining Company. Limited”—for so Zeb had wished it ro be called—“ First. which twenty-seven thousand are now offered to the public.” The value of the shares was five pound each, but only two pounds were to be • called up. One thousand of these shares were already appropriated, while another four thousand. lully paid up, together with twenty thousand pounds in cash, were to be allotted to the vendors, George Johnson, minin'* engineer, and ZebodiVh Quirk, merchant” ihe working capital of the company would therefore be thirty-six thousand pounds, a sum consider*■;! ample for the present. It was confidently asserted that upon this capital the mint* would pay a dividend of thirty-five per cent; atul this was proved in the clearest way by figures—figures eivin" the number of tons to be raised per week the quantity of lead per ton, and the price, with an estimate for expenses and a liberal margin felony contingencies—not a Haw for iinv one to cavil at. It. was backed up bv reports of various mining engineers, and also by statistics showing the enormous profits of other mines, e-pec.ially of the well-known mine in the same neighbourhood. To show that there was no over-colouring, intending shareholders were invited to visit the office of the company, and to inspect for themselves the sj»ecimena of ore which had been brought from the spot. The Board of Directors was a highly representative one. It consisted of the younger son of an English Earl, a member of the House of Commons, a Scotch Baronet, a half pay Colonel, a retired naval Captain, a solicitor, and a gentleman at. least, he had only a plain “Esquire ” after his name. All of them were Directors of other companies, so they were men of experience, and their name were presumably known to the public. Two others were to b - chosen by the shareholders, and tho vendors would join the board after allotment. It is a remarkable fact chat, while tms ..respect as was largely circulated in England among the dosses considered to have’'most money to invest, clergymen, widows, and the like, not a single copy wa : sent direct to tho Isle of Man. lint one got thereby a roundabout way, and eventually fell into the hands of Zebediah Quirk.

It would be enough to turn The head of any young man ; and though Zeb was singularl’v I tree from conceit., he certainly began t«» think a ! good deal more of himself than he l.ad .lone before. To see Ids name in print, joined, too with the names of nnnifbers of the ai-istoeVacy’ naval aud military heroes, and other illustrious persons, and himself styled “ merchant” that was a most pleasant sensation. And then the “ Ibudn Mining Comnany”—how detightfnl it looked ! How charmed she would be when she saw it 1 How extraordinarily lucky he was ! There, in black and white, was the sum which Mr. Johnson had promised him--twenty thousand pounds in shares. A splendid fortune! But by and by when Zeb had rend the prospectus a dozen times or so, several flaws became apparent among so much that was pleasant to tin.'eve. It occurred to him that the real value oi h:s shiftes was not live pounds a.prece, but two pounds, that being the price at which they were offered to the public. Upon this basis be was to receive only eight thousand pounds instead of .twenty thousand. 3 here was something- wrung here. The more Zeb considered the matter, the more uncomfortable he became. He began to labour under it sense oi injustice ; he fancied that thus i clever people, regarding him as a country simpleton, were cons]tiring to dctruiid him. 110 made up his mind to stand up ior his rights. True, lie had expressed himself ns quite ready to accept one-tenth of the terms offered him ; but times had changed since then. Tn those days he had not learned the value of his property; he had not been styled ** liierclraut,” and his name had not iv: n associated with baronets and colonels. He. had been—with wonderment and even shame he admitted it—a village grocer- nothing more and nothing less. Bnt. all that was altered now. His views had undergone expansion. He was “Zebediah Quirk, Esq.,” and, therefore, could claim to be properly treated. Why should he be paid in shares aud his partner Jn rash r The whole arrangement was grossly unfair. So poor Zeb wrote a letter, touched in very grand language—ijuite in tho “Polite letterwriter” style—to Mr. Johnson, at the company’s office in London, and stated his grievance. Iu due time came the answer. It was «-r*nial bright, and oven playful in srvle. It. explained the matter most thoroughly ; 'and it, quoted the opinion of eminent authorities, mostly noblemen, m such a free-and-easy way that Zeb was utterly crushed—angry with himself for having exposed his ignorance. Mr. Johnson pointed out that, while his profits were strictly limited, Zeb’s were unlimited, and might reach a figure far beyond the wildest hopes. lie wrote : “The estimate in the prospectus—an extremely moderate one under the em u instances —puts the profits at thirty-five per cent., and even if we take this low figure, without allowing for any further rise, your twenty thousand pounds’ worth of shares would readily sell for a hundred and forty thousand. Come, now partner, will yon let me have some of your shares in exchange for my cash—when X «»-et. it. ‘r If you win, 3 think you will very soon repent of your bargain. The Earl of Mavfair is wild to get shares. Will you soli After that Zeb decided he would not. Haten.rried tlie prospectus to tlie mill, and, with pride, showed it to D.m Ra.dc.HfYe. The old miller looked at it, upside down, then put on his horn-rimmed glasses and seemed to study it attentively through them for a few minutes. Finalty he handed it back. “ What docs it all come to, lad r” he asked. “ My old eyes are too dim to spell through it! Give us tho gist of it in language that one can understand, for it’s just so much g bberish to Though a good deal chilled, Zeb went at it manfully, launching out into an enthusiastic ae-cnption of the company and of his own

puosjxejte. But th© rail Id - stopped him with a© increualous>— ~!* gold on CushagsiiS’there* I’m llntakinyZeb.’* ./I*** S *Bl true I’m telling you. Master RaJexclaimed Zeb, indignantly. MayfcOj ted— muvbe. But what have lu thy I'A-et? That', the main Zeh hid some diffipclfr ilk eaplamina that hU shares, though not .witustlv money, i eitreseirted heluF lal ge “ Um ' 1 lle ald a>ui,! » oul J shook his “ ® ra <l* wus down at the shop last night for a pound or two of baron,” he remarked alter a pause. -• Thy Bister was there aa usual, and abe said there ,w.ia none m stock. It waa the same tale a fortnight ago.” “ Goodness gracious!” cried Zeb; “would you have me bothering my head about penn’orths of bacon when : here’s a fortune lyinc yonder * ” “ May be it’ll be yon lev still when thee and roe s # lying in tha ebur. hyavd, Zeb. Let every man stick to hie trade. I eay. When tailors go a-tiuKeun* it's a bad day for tin kettles.” Zeb rose up with a stormy face. This was not at all the sort of tiilk he had come to listen to; he had a right to expect something very dupe rent. But before he had had time to commit himself Iliad a entered, and at her coming the clouds disappeared. Zeb, mailing- now, appealed to her. “ What do you think your lather has been trying to persuade me V” he asked. “To give up the mine oral attend to the shop”* “And you are grown too grand for that, I suppose you mean, Zeb’r” sard Brads, with a mischievous twinkle in her eves. ■“ There was no talk of being too grand,” said “ Any way, I’m not too grand for you. Breda.” J ’ “I’m not so sure about that,” said Brad a, sane fv. We’re plain folks fibre, Mr. ZJbedi&h, and when you've got your flue carnage, and, maybe, >ut in the Keys, there'll be no more visits to tlve mill, ©h, yes, you are much too grand a gentleman for us.” Bted’s only your pretty teasiHg said

For all that, lie was rather doubtful about it. lie could not. decide whether or not she was in earnest, and he was vexed with both her and her father, because they did not share his enthusiasm, and would not. enter into his plans tor the iuturc. But, in spite of the indignation which he had shown, the miller's words weighed upon him ; lie grew more aud more uneasy ; in the end he wrote to Mr. Johnson to say that he would sell half his shares for cash. The answer did not arrive for a fortnight, aud, when it did come, it struck Zeb—though he was far from understanding it, with a chilling sense of disappointment. Mr. Johnson 6aid that, the company not haring yet been formed, the shares had no market vulne, but that a sufficient number of applications had been received to warrant proceeding, to allotment, «ml this step would be taken immediately. The company would next apply for a quotation upon the Stock Exchange, and then, if Mr. Quirk chose to do anything so foolish, he could sell his shares. Ze*b learned little from this letter beyond the hard fact that he must wait. A month wont by ; sh j les had been allotted lo the various applicants. All seemed to be going smoethly, when an unexpected hitch occurred. An article apjwared in a leading financial newspaper denouncing “The Brada Mining Company, Limited,” as a swindle. It ‘■dared that the mine had been “ salted ” and trongly urged the shareholders to lose no time *n demanding 'the return of their money. The immediate result of this article u.is a stampede to the office of the company. The staircase was thronged with men and women "'ho. for all their angry words, could ill-eon-‘•eal their fears, and every post brought an avalanche of threatening letters. 'The Directors, no less disturbed than the shareholders, laid f';‘.e ; .rheads together and discussed tlie situation within locked doors. After a lengthy consultation they announced that an action for libel would at once be commenced against the off ending newspaper. But this announcement had little or no effect in allaying the panic. The shareholders still clamoured as loudly as ever tor the return of their monev. An informal and very noisy meeting was eventually held, and it was decided, as a sort of compromise, that an independent engineer shoulu be sent to inspect the mine and should report upon it. It was tlie arrival of this engineer, a MrBallantine,. that made Zeh first suspect there was something amiss. Upon the following day a fall acoount of tlie proceedings in London appeared in tlie Manx papers. Zeb was dismayed when he read it. He was angry ; he was puzzled. He could not but remember John statement that there was no lead upon his farm, and yet, on the other hand, he himself had seen it there—excellent ore, too. With unsteady ootsteps he went after the new engineer, overtook him on the mountain side, and began to question him. But Mr. Bai lan tine, a cold, stiff, silent man, utterly refused to give him nnv information. “ iuy report will be presented to the directors as soon as possible,” lie said. “ They, no doubt, will make it public in the ordinary wav. I am afraid you must wait till then, Mr. Quirk.” And he passed on. Mr. Ballantine’s inspection of the property whs singularly short, lie spent twenty minutes there. Then he hurried back to London and made his report. There was no mine, lie said, and no lead worth mentioning. He had observed, scattered about, a quantity of ore, which was undoubtedly rich in Unit metal ; but it did not come from the rock in the neighbourhood. It had been brought from some other place, probably from the other ride of the mountain. This could only have been done for a fraudulent purpose, and be only question was : Wh hud done it Z .Such was ne geucrai tenor f Mr. BaiianIr. produced quite a sensation in the office, and was followed by a fresh outbreak of tlie boisterous scones wh’icli had already given this palatial building an unenviable notoriety. The shareholders were for laying violent hands upon the directors, and the directors fell foul of one another. Mr. Johnson came in for the chief share of the abuse. But he took matters very coolly ; expressed bis profound astonishment at what had happened : declared he must have been tricked by the original holder of the lease, Zebsdiali Quirk, and so disclaimed all responsibility. Mr. Johnson, however, took care to make himself safe. As soon as be could do so unobserved lie slipped away, and the city knew him no more. It w.m believed that he had gone to Spain. "When the accounts were examined it was found that the greater part of the money paid by the unfortunate shareholders hud disappeared. Zeb was nearly broken-hearted. He could not lift up his head; be dared not stir out of doors: be sat brooding over his troubles, with no power to meet tho dark suspicion which had fallen upon him. 'Then, in his hour of adversity. when his neighbours held their faces averted from him, the girl who had laughed at him in his prosperity came to him and did her utmost to give him strength and courage. “Tut. man!” sail Brada. “You’re no worse off than you were before. You have got a a good business, if you will give your miud to it, and that’-s mere than John Senoglc-s can *Zeb raised his pale face and looked up nt her gratefully. But all he said was : “ They say 1 did it, Brada.” “ Did what, though r” she asked. “Acted a lie. Put good ore on tlie land to deceive people. Planned and executed a cruel swindle.”

Brada laughed. “ Is that all r” she asked. “ Oh, but listen 1” exclaimed Zeb rousing himself, for this accusation galled him even more than the loss of the fortune which lie had expected. “ Who was there to do it hut me V Wlio else could have gained by it / Nobody but me, the holder of the lease. That is what they are saying. And what can I put against “ Your own honesty, Zeb. What more can you want ? And who is saying this thing r” “ Thev are saVing it iu London. They arc saying it iu the glen.” “ Come with me, Zeb,” said Brada. proudly. “ Then let him that dare say a word against you. Come with me to father, and hear what he has to say about it.” “ Brada,” said Zeb, fervently, “you best girl in all the world.” And, conquering his reluctance, he consented to accompany her. But it was a painful walk for him. The few persons they met he passed with dowcast. eyes. He was right glad when he found liimeelf within the mill. A poor place he had thought it but a few weeks ago ; and what a bright, comfortable, happy home it seemed to him now ! “ Couic back to us. then. Zeb!” cried the miller, with a hearty shake of tlie hand. “ .Sit thee down by the fireside. What’s amiss, lad ? Tliee’slookin’ middlin’ poorly.” And then, little by little, Z*:b told his story*. The miller had heard most of it before, but he pretended astonishment, and, at the suggestion c-f any suspicion attaching to Zeb, expressed utter incredulity. He treated it as a joke, making the rafters ring with his loud Laughter. “ Stick to tliy trade., Zeb,” said he, “and there’ll be a future for thee yfet, bad though the grocery business is. Maybe this affair will turn out a blessing after all.*’ With shame Zeb had to confess be had no

money. The miller at once offered to lend him as much as would be required for can-fib* ou the business. Thee shaft pay me interest on it, lsd.” said be. “ I cart’t afford to let my money lie idle, and maybe it’ll be easier tor thee to taka it ; from rue so. Security ! Tut • tut ! don’f talk of each thiuga. What better security esn a man have than downright hoxnwty. and coumge, and determination to get os r” After that, what mattered all the scasqtal and black looks of the village gossips? Zeb cwuld only exjiress his gratitude in broken sentence*. He felt that he did not deserve all that the miller had said of him, but ho made n m ntni resolution that he would deserve it ret. He spent the whole Afternoon at the mill, and a very happy afternoon it was. He was surprised how -completely he had forootten his troubles. But when, taking advantage of Bra "i s tno raeniary absence, hb ventured to speak of her as his future wife, he experienced a sharp chock. “Thee’s goiu’ too fort, l*d,” said tho miller. “I'll lend thee my but—at a fair rale • i interestmmd but that's a very different thing from givin’ thee my daughter. Thee must win her by hard work, Zeb.” And Zeb determined that he would. He did, too,but not before several y«ar*ha d jjAsseda-way. One other fact in connection with the “ Brada Mining Company, Limited,” remain* to b*Chomelcd. There was some talk of jwo .e.-utinq he Directors for conspiracy, but before :mv’ thing came of it John Senogles met with j© accident whi«-h brought him to bis deutob.d, the result being that ho made a contortion which completely exculpated Zeb. it whs fee that, at the instigution of Mr. Johnson, had “salted” the mine, ami the plunder wa- to have been shared between them. But Zeb, all un consciously, had steeped in and frustrated their purpose. Mr. Johnson hart thereupon deserted his fellow-conspirator, and Benogles fctd hud the mortification of seeing ethers reap tlie bene fits of a fraud pbiunod by himself. But a« he had orignated the “Brada Mining Company, Limited,” so he hart brought, about its dishrnetion, for the information which caused its downfall hud come from him. “I am sorry most lor poor Zeb.” said Senogles» But Zeb forgave him fr«N y. / '