There was something very near akin to a panic in Lloyds’ when the total loss of the Port Edes was reported, and those unfortunates who had underwritten her were anxious to dispose of their risks at remarkable prices to any credulous man who believed that this first report was a canard. Consequently there was some pretty steep gambling gone through in the space of minutes, and more than one small man got broke with surprising rapidity.
Now, Master Lossing happened to be in the room as an idle spectator, and was hit with the excitement, and asked a friend who was a member to act for him. “I’m going to play a hand in this,” quoth Master Lossing.
“At what price?” asked his friend.
“When they get to ninety-eight guineas.”
“I suppose you know that makes you liable for about £10,800. There’s £540,000 underwritten.”
“I’m good for that,” said Lossing; and an hour afterwards proved himself so, as he had to pay. To this day many Lloyds’ men, who were interested in that scene, congratulate themselves on having made £10,800 salvage by a fluke out of a ship that was totally lost.
It began to dawn on Lossing after the event that he had made a fool of himself, and that his luck was through; but he had the sense not to whine aloud, and so his friends forgot the matter in the excitement of other interests. Lossing did not forget, because the bank had written to him that his account was overdrawn, and he had several bills which much wanted paying. Unostentatiously he began to look about him for a means of making a more regular and steady livelihood.
As after several months of search this last did not seem any appreciably nearer, he was able to give full attention to a letter he received concerning the Port Edes and her cargo. It was unsigned, and bore an American postmark. It ran as follows:—
“Sir. I hear that you are now legitimate owner of the Port Edes and her cargo. She was picked up at sea, and is now in the Everglades of Florida in (here followed the exact latitude and longitude). The specie is taken out of her, and you will find it by digging (here came elaborate cross-bearings and directions). If you are a wise man, and wish to enjoy what is now legally your own, you will say as little about the matter to any one as possible.”