Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1885-12-11
NEEnHAM'S FAILURE
By JOSEPH HATTON.
Author of "The Queen of Bohemia" "1hs
Three Recruits" Etc.

FortunaueIy Tor the country, some OF MI.
Needham's commercial and financial under
takings began to be seriously troub esome
to him just when his political fortunes were
most smiling. Indeed he was so pressed for
funds, almost inlms lately after his APP
pointment that he commenced to traffic
financially with his official knowledge be-
fore he had properly guarded bis outposts
from the active enemies which his poll tical
treachery had created.
Financial reputation is a sensitive plant.
1t will shrivel even at a rumor; while the
mere suggestion of doubt upon the financial
honesty of member of the government
would blight the most fourishing career
You may say that a minister is politically
dishonest; you may even charge MIN with
sacrificing the best interests of humanity
for the sake of office; you may go so far as
to say that he is in league with the enemies
of his country in the furtherance of a
wicked and murderous foreign policy, and
you shall not hurt him; but say he has com
mitted shady commercial transaction,
show that he has used his power to specu-
late in the funds, convict him of some
money tran saction that is not consistent
with his honor as a minister of the crown,
name forever.
Fate did not give Mr. Needham time to
grow into a first-class ministerial fraud; it
n1pped him in the veriest bud. A whisper
from the Stock Exchange killed his treasury
lordship almost in aday. can intima ton"
to quote the careful words of ths journal
istic chroniclsr, from the righ5 honorable
gentleman who is res ponsible for the treas
ury business, backed by The approval of the
noble earl who led the cabinet, that her
majesty would be graciously pleased to dis
pense with his further services resulted in
his resignation"
Then began his downfall He had looked
UP at the other heights in the range of his
ambition with tn, conf 1encs of the AL pin 3
climber, who only sees in them new tri-
umphs. But he had reached the top of his
mountain VIII the spring sunshine glld3i
its apex on that May day of our prev. ous
chapter; HenGeforth the path was down.
ward, aud far more pefilous than the as
cent.
SIS it true that Needham has retired9'
asked one city man of another
"Yez."
what has gons wrongs'
His many other engagements, the alb
sorbing nature of his private occupations, y
said the o'her with cynical smile
And down went thu shares in every COM
pany with which he was prominently asso.
eiated.
why has he rasignedF asked poll
tician at the club.
"Becaus, they have found him out" an
swerel his enemy, ''as we did in Ireland.
Does man of his character, with the ball
at his feet, throw up the game CT his cwn
free wills He is swindler, sir, politically
and financially"
Strong language" remarked the ques-
TONER, land especially so when applied to a
millionaire; we call pettifosgers by those
names, not chairmen of great banks and
corporations" SAID the other,
Watt exc-aima1 the enemy, who felt
be had Need ham by the throat; swat a id
watch; you will see his millionaireship in
queer street before many days are over"
Multiply these takers by ten, and calcu-
late the volume of the whispers and rumors
and explanations they would create in four
and twenty hours, # they had been false
they would have seriously affected MI.
Needham's credit. Being true, they crushed
him. The city firm with which he had
done business began to examine the securi-
ties he had placed i'll their hands; the banks
required payment of overdrafts, and his
margins in respect of current operations in
stocks were suddenly closed. He was asked
to retire from the craftsmanship of the
English and County Banking corporation
and he did SO, fighting desperately to keep
back the dreadful exposure which for over
a period of FIVE years he had had reason to
dread and fear. Tempted to meet reverses
in speculation By forgery, he had gone on
staving on Che inevitable in the same way,
hoping for some great stroke of fortune to
pull him through 1t came. when it was
too late. But for the necessity of using his
official influence while it was yet green, he
might have lived to convert the secretary
ship to the treasury into a means of
emancipation; but the ministerial bride
of Office had not come in time for the use he
meant to make of it; and with the first blush
Of his honors thick upon him came disaster,
financial downfall and exposure. He fought,
however, to the last=-fought on with des-
rerate GOODNESS; fought, forged, lied and
held up his head. The drafts of the Need
ham Irish bank had been dishonored at a
leading London bank. He went to the city
writers for thu press and requested them not
to refer to the report that he was in difficult
ties. He assured them that his embarrass-
m,nts were Of a temporary character. The
sinking man did not merely catch at straws.
He seemed to be swimming vigorously. His
audacity secured him some little aid; but
trifling assistance was no good to him. The
bank which had refused to pay thu Need
ham joint stock drafts without remittances
put him into the most seriors s-raits He
appealed to a great financial firm Byles.
Grant & Byles) who had often advanced
urge sums on his securities. His proposals
to them on this last occasion were 50 very
unroasonab bic that they began to suspect tho
geaYinepess of certain deeds under the seal
Of the Irish encumbsred estates commission,
upon the security of which they had already
made considerable advances. IN .elhamh
20 thu historian, "iatectel the doubt
which he hal unwittingly raisel, and be
was not mista zen in his expectations that
Byles, CIR. Mt & Byles would take instant
stops to satisfy thems Ives. He saw at oncs
that the game was up-for the signatures
to the documents were forged, the official
seal of the court having bee4 transferred
from genuine dse1-and he at once made
up his m nj to anticipate the denousment.
He went home and comm IN ce1 the most
careful and complete arrangements for
nor