Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1886-06-12

fore h. had properly guarded bis outposts
from the active enemies which his political
treachery had created.
Financial reputa ZION is q sensitive plant
II will shriyel even at a rumor; while the
mere suggestion OF doubt upon the financial
honesty of member of the government
would blight the most dourishing career.
You may say that q minister is politically
dishonest: you may even charge MIN with
sacrificing the best interests of humanity
for the "a Ike of Office: you may 60 so far as
to say that he is in league with the enemies
of his country in the furtherance Of
wicked and murderous foreign policy, and
Won shall not hurt him: but say he has COM
mitted a shady commercial transaction.
show that he has used his power to specu-
late in the funds, convict him of some
money transaction that is not consistent
with his honor as a minister of the crown,
and you hurl him from Office and blast his
name forever.
Fate did not give Mr.. Needham time to
grow into first-class ministerial fraud; 1t
nlppsd him in the veriest bud. whisper
from the Stock Exchange killel his treasury
loriship almost in aday IAN intimation,"
to quote the careful words of the journal
istic chronicler, from the right honorable
gentleman who is responsible 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 the confidence of the Alpine
climber, who only sees in them new tri-
umphs But he had reached the top Of his
| its apex on that May day of our previous
chapter. Henceforth the path was down.
ward, and far more perilous than the as
| cent
SIS it true that Needham has retiredF
asae one city man OF another.
'Ye,n
What has gone wrorgr
His many other engagements, the alb
| sorbing nature of his private occupations"
| said the o he wi b a cal smile.
| And down went the shares in every COM
| panv with VIII. ch he was prominently asso.
| ciatei
why has he resigned" asked a poll
| tician at the club.
"Because they have found him out" an
| swarei his enemy, las we dill in Ireland.
| Does a man OF MS character. win the ball
| at his lee, throw up tue game of his Cwn
ami financially"
Strong language" remark the ques-
| toner, ''ani especially so when applied to a
millionaire; we cali pe.tfosgers Dy those
| names, not chllrnel OF great tanks and
| corporations." said the other.
Wait" excaimei the enemy, who felt
he had Nee1ham by the throat; ''wait u d
watch; you will see his mil lion ire, hip in
queer street. before many days are over"
Multiply these takers by ten, and ualcu-
late ie volume of the whispers and rumors
and explanations they would create in four
and tweltv hours. Ii they had oeen false
| they would uave seriously affec.ei MIR.
| Needhan's credit. Bang true. tiey crushed
| him. TIE cIuy nrm with Which he had
done buslne;, began to examine the securi-
ties h. nad place. in their hands; the banks
req lired payment of overdrafts, and his
margins in resp.c5 OF current operations in
| STOCKS were suddenly closed. He was asked
| to retire from the chairmanship of the
| English and Coulty Banking corporation,
and he did so, fighting desperately to keep
| back the dreadful exposure which for over
period of five years he had had reason to
| dread AMI fear. Tempted to meet reverses
in specuati N b. forgery, he had gone on
| Saving OF the inevitable in the same way,
| hoping for some great soroke of iortune to
pull HIM through. 1t came. when it was
| too late Blu. tor the necessity of using his
official lnflu nee while it was yet green, he
| might have lived TO convert the secretary
| snip 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 IL: and with the first blush
of his no lors thiek upon him came disaster,
| financial DOWNFALL and exposure. He fought,
however, to the last-fought on with des-
| perate Coolness; fought, forged, lied and
| held up his head. Tue drafts of the Need
| ham Irish bank had been Gishonored at a
leading London bank. He went to the city
writers Tor the press and requested them not
| to refer t. the report that he was in difficult
| ties He assured tn m that his embarrass-
| m 4nts were of temporary charac err The
| sinking man did not merely catcn at straws
| He seemed TO te swimming vigorously. HIS
| auiaclty secured him some little ali; but
| trit1ing assistance was no cool 70 him. The
| bank whlca hal refused to pay the Need
ham joint stock drafts without remit tanoe,
| put him into the most seriors rats. He
| appealed to a great financial firm Bvles
| Grant & Bvles who had often advanced
| large sums on his securities. His proposals
| to them on this last occasion were so very
unreasonable that they began to suspect h.
| genuineness of certain deeds un der the seal
| OF the Irish encountered estates commission,
| upon the security of which they hrd lready
made considerable advances IN ,e1ham,"
says the historian, "detectel The doubt
which be had unwittingly raisel, aud he
was not mistaken in his expectations that
Byles, Or nj & Byles would take instant
steps to satisfy thems elves He saw at onca
that the game was up-for the signatures
TO the documents were forged. the official
seal OF the court having Teen transferred
from genuine deed-and he at once made
up his m-ni to anticipate the deaouement.
de went home and commenced the most
careful and complete arrangements for
| committing suicide