Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1886-09-19

| TIC htaRStfeu.
To begin with the chairman, Lord
Bunkum found out that his lord
ship was not only a man without
shilling that he could call bis own, but
that be was known in the West End and
throughout Clubland to be deeply In
debt, and TO be living principally upon
his winnings at whist, or on the turi, IN
| addition to the money he occasionally
received as director Of some newly
iloated company. thought It my duty
10 bring these facts TO the kno Wedge OF
Mr.. Nixon, but, greatly 10 my aston
ishment, that gentleman treated my
| communications as OF no vaide, |
ord courieously but firmly declined
to take any practical notice OF them
ssMy dear sir" he said, "when yoa !
have been connected with joint-stocS |
companies as long as have you wlh
understand that, no matter how shady |
he may be in the money TRANSACTIONS
nor however limited his means, very |
Indifferent lord is better on Board OF
| Directors than the best behaved man |
| aho has no title--no handle to his |
name. Don't you know that, as the
Scotch say, every little makes
mickle.' 1t is the rank and lille
Of the community we want to
take up our shares; and what DO
Brown, Jones, and Robinson know
about Lord Bunkum, or the esteem ne
!, held in by the elite OF society! II
Brown Of Islington, Jones of Peckham,
or Robinson Of Clapham, see his
lordship's name a. chairman OF the
directors of the Trixie Gold
Mine Company he will at once ap.
DIV for shares in the affair, and all
the more so because the shares are
only 81 each, and no larger SUN than
five shillings has TO be paid on each ap-
plication. Why, il. you ask me in conf
dence, there is not, with two eXcep-
tons. director on the Board who could !
call 1000 pounds sterling his own.
They are alI--with the exceptions,
mean-what we call in the city Guinea
pigs-that is, men who have nothing OF
their own, but who utilize their Oppor-
tunities by sitting on the boards of
companies, each of which give them
couple, or perhaps three, guneas a
week for doing exceedingly well what
they know nothing about"
"And," Iasked "are there any such
on our Board?"
"why," he replied, with the ex-
ceptions | told you Of, there are none
other. Come, III be frank with you
except Mr.. Samuel Strait, there's not
man on our Board who could earn one
hundred pounds sterling year as
clerk in a house Of business. But what
of that? You don't suppose it's
name like MIR. Straits that makes our
shares 60 off or bring grist to the mill?
OF course not. John Bull likes titles
and rank, and whore they are
10 be found he will so. re-
member some time ago when l
and Mr.. Stanford brought out the
Actopaxi Bank; VIC had right good
board-ihree lords (of which one, the
chairman, vas a Marquis). two baro'
nets. two members of Parliament, and
retired Indian judge. All that was
board If you like. Why, there were
people who took shares-and they were
ten pounders--for the sole purpose OF
being able 70 call from time to time al
the Office and being able to 60 home and
boast that they had been talking to the
MARQUIS Of Defer or to Lord Clum.".
And did you," ! asked, "did You
allot the shares, did the bank ever do
anv business?" " We'll, no, not exact
w." replied Mr.. Nixon. THAT is to
saw. we bad about $1,000 Of our So
600 shares applied for !; the two pounds
ten shlllings sterling, on application,
was pretty freely paid up-we even got
a quotation on the Stock Exchange,
and a good many Of those who had
shares sold them at one and one and
one half premium; bu. we never got
further. The second payment OF two
pounds ten shillings sterling on al
iotment was scant and shady. One
of the shareholders applied to
have the affair wound up; TINS
was granted, and few OF
us got some profitable work IN the
winding up. Those who had applied
for el0 shares had to pay up the full
amount--not the knowing ones, you
understand, but the country folk, the
, West End gentlemen, tho retired Indian
. Judge. &c. Many OF them were nearly
, ruined by it, but some OF US made a
| good thing of it. | had few shares
with two Others in the affair, and what
, with being paid money by one for
! getting him made solicitor to the wind
, inr.up, and from others for having
, them appointed accountant, @c.,
= we three made between US some two
l thousand pounds sterling all told. Ii
! YOU take my advice" he went on,
4 I" YOU will not throw up the secretary
+, shin of the Trixie Gold-Mine Company.
r Whether it pulls through or not you
1 will be able TO turn the five hundred
a pounds sterling you have lent us-for,
n after all. il is only loan--into fifteen
. hundred pounds sterling. If you like
: TO work with me | shall not ask you
= for n shilling Of what you make, and
= you will stand in," as they say on tho
T iurf, TO win on every horse-that Is,
Q whether the company floats or not"
= determined to follow Mr.. Ni1on's
D advice, and told him so. As have
Q said, the prospectus of the company
J. appeared in all the morning and eve
o ming papers, as also 10 the weekly
n prints. 1t occupied a full column in
d the larger and one and half in the
Il smaller ones, and was of course placed
e in a leading position.
g The following is a copy of the first
|. part Of the announcement, but it is
!, very much shorter than the original
10 The Trixie South American Gold Mine
Company Qimited), registered uRder the
companies acts Of 1892 TO 1888 whereby
IL the liability OF each shareholder Is limited
Lee 10 the amount OF mis- shares Capital
= flbO 0OO, In 10000 shares OF fl each, o;
50 which the vendor takes 100000 In part
SO | payment OF the purchase m ney. aud the
=, balance ~ now offered for issue at par pay :
IN able Is Cd, OH application, 2s Cd. on allot.
H. ment. and ts one month after allotment
a. The balance OF los. per share TO be called
w for as may ba required. in instruments al
on rs. cd. each. at intervals Of not less than
or three months.
Oh Dfscciors-The Right Hon. Lord Bunku ~