“It will be in your recollection that in July, 1887, I was obliged to make a composition with my creditors while trading as a corn merchant under the style of Thomas Hatchard & Co., and that they were good enough to accept the sum of seven shillings and sixpence in the pound.
“Immediately thereafter, as you may be aware, I began business as a corn broker, and owing to the kind assistance of certain of my creditors and other friends, have had considerable success.
“Having made a careful examination of my affairs, I find that I can now afford to pay the balance of twelve shillings and sixpence which is morally due to my creditors of 1887, and it affords me much personal satisfaction to discharge this obligation.
“I therefore beg to enclose a cheque for the amount owing to you, with 5 per cent compound interest, and with sincere gratitude for your consideration ten years ago.
“I have the honour to remain,
“Your obedient servant,
“Thomas Hatchard.”
“Isn't that great, young gentlemen?” and Beazley took a turn round the room: “it's the finest thing done in Liverpool in our time. Tommy has come in again an easy first on the ten miles—just skipped round Baughfell: there's nothing like the old school for rearing hardy fellows with plenty of puff in them for a big hill.”
“Thomas 'ill be a proud man the night,” remarked Macfarlane, “and his wife will be lifted.”
“What about the Hatchard securities and encouragement company? isn't it a booming concern, and aren't the three men lucky dogs who took founders' shares? Oxley, old chap,” and Freddie grew serious, “it was you who put Tommy on his legs, and helped him on to this big thing.”