The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1920-12-16

MCi1 ldll iloul ulLLy uClShlo, SlitISi-
ing structures collapse; and people,
seeing, learn With them for a long
time new promises of riches, words,
smiles, all fail. Yet to get them to
bring their money out again for new
venture, there is always a lure-the
habiliments of responsibility. These.
the pirates of finance know, never
cease to inspire confidence.
How am l going to live on $500
year," Captain Rickley kept asking
himself in the early weeks of 1S47.
Just discharged from the British army,
he found himself in London at the age
of 33, compelled for the first time to
think for himself six hundred
year," Why, his tailor's bill would
take half of it,
A friend at the Army and Navy club
suggested that he become specu-
lator ut is very simple" he said
Get made a director"
On the security of his income, Cap
tain Rickley borrowed $4,000. This
he deposited in a reputable bank and
then got himself introduced to a COM
pany promoter. In a few days, be-
cause Of his name and standing, he
found himself a director of the PopO-
catapel Gold & Silver Mining COM
pany, drawing $25 week for attend
ing the board meeting, and in posses
sion of 100 free shares.
He now took an apartment in Ken
sington, had his tailor garb him in
clothes of the most dignifed cut, and
bought an umbrella. In a week he
had proposals from no less than %
concerns to become Director on their
Boards. He looked them all over and
selected three of the more stable kind.
He now had from Board fees an in
| come of 500 and a capital of $4,000
in shares. His name ranked high in
the city. To set off the umbrella he
| bought a carriage and joined the Con-
sentative Club. There was no end to
his ambition. A seat in Parliament
would be his next dignity, he felt. He
! began to think of marriage.
| 1t was while he was looking for a
suitable heiress that he and Miss Bar
bara Hilder met. At the balls and
parties he dallied by her side for a
while; then seeing one. much younger.
! Miss Clymena Eykin, he passed over
to her. Miss Hilder looked resentful-
ly after him, 1t was thought, but not
for long. In a few months she was
married to a Mr.. Montague.
A short time afterwards, Mr. Mon
taigne approached Captain Rickley
! with a proposition. I'VE are forming
the General House & Land Finance
| Co.. he said. MY wife says we must
| get you as a Director. You will get
salary of $4,000 a year, and $40 a
Board meeting"
Captain Rickley wondered why she
should want to do him such a good
| turn. But the offer was too good to
be suspected. Moreover, the public
were taking to the Company, fol
! Lords, Members of Parliament and re-
! tired officers were on it's Board, and
! it banked with London's most respect
able bank. The capital was $4,000,
600, only 100000 of which was to
be paid up. An annual dividend Of at
least 40 per cent was promised
The new Co soon had its share
list full 1t offered to take in other
money on deposit. guaranteeing to pay
higher interest than any bank With
all the money put away in it's own
! tank the Co. opened for business.
/ From all over the country people ap.
| piled to it for financial assistance.
The Co.'S methods were simple 1t
! paid the borrowers in it's own paper
which any banking house of the coun
try honored, knowing of the enormous
sums the Co. had lodged in its own
bank The charge for the loan was
II per cent, which was all clear profit :;
and its own money was earning fur
! Their interest in the bank.
! Even the directors themselves were
surprised at the simplicity of it all
Events of the times were also helping
! them. A new financial fever was
breaking out all over England Every
! business, old or new, was being turn
ed into joint stock concern The
General House & Land Finance Co
would secure from the public the
money to float any venture 1t would
LAY over to the new Co. the money
in paper, the cash being as before
deposited in it's bank. So we'll die
the business turn out that a dividend
of 80 per cent for the first six months
! was declared.
Railway companies, gas companies
companies to exploit inventions, min
ing companies, they all had none,
found for them by Captain Rickley ant
his associates. Everybody Throughout
the country now heard of their won
derful operations. London papers sal,
it would not be long before evry tow
had Finance Company of it's own.
So far scarcely a penny of the casl
at the bank had been touched. Still
more money came in and the Financ