(1) The cost of printing of the two issues by the job printer, in addition to the cost of the paper.
(2) The cost of a fair distribution of ten thousand copies daily, in order to keep faith with the advertisers.
(3) Our rent of the offices for three months, plus the cost of the office accessories, lighting, etc.
These were all chargeable to the debit side. On the credit side, nil. No matter how clever my sporting confrères might be in spotting winners, we could add not one penny to the credit side. I summoned my two partners to a conference that afternoon. Somewhat to my surprise they seemed cheerful. “Things are not so bad as they look,” they said. “We have a real ‘dead bird’ for the Melbourne Cup. We are going to borrow every penny we can, pledge any credit we have with the bookmakers, and on Tuesday evening, after the race, we shall have enough to pay our liabilities on the Tissue and plenty more besides. So cheer up; just raise as much money as you can, and we shall put it all on on Monday evening. On the Tuesday, the morning of the race, we will print twenty thousand copies of the Tissue with the name of the winner. We will scatter the Tissue all over the city and the race-course. The public will back him for all they are worth, for he is a good horse. He may shorten in price. If so we can lay off and stand on velvet.”
This cheered me up a good deal. Their confidence in their plan was catching. So we went to Scott’s, after all, had a bottle, and I went home, calculating what my third share of our losses in the Tissue would amount to, and how much ready cash I could lay my hands on to back our tip so as to balance the account. I was not the least ambitious to make a fortune. All I wanted was to get clean clear of my journalistic enterprise and cease to be the proprietor, editor and publisher of a newspaper.
I put aside my worries for the week-end. As a matter of fact, three of our tips out of six races came off on the Saturday, which gave the public considerable confidence in our selection for the winner of the Cup on the Tuesday. Then, casting sorrows to the winds, I arranged for a quiet week-end down at Sorrento. The weather was hot; Sorrento beach was delightful. The lapping waves on the beach were fresh and briny; Nature smiled, and I put worries away.
Then came Monday. It was the evening we were to put our money on our horse, our pick, nay, our “dead bird” for the Cup. We three met at the office. Our office boy, rather a wag in his way, had decorated my office table with flowers. My two partners, who seemed to me to have spent the week-end without any sleep, visiting training stables, waiting for the first streaks of dawn to watch the early Sunday and Monday morning gallops, and doing all that is expected of racing touts, were more than convinced of the certainty of their choice. There was nothing in it but “Mata.” “Mata” could not be beaten. The race was all over. “Mata,” however, was at a short price, and I could see it would require a good deal of money to enable me to get round my share of our losses. Still, what was the use of all our exertions and hard work and financial risks if the two partners specially selected for their intimate knowledge of the true form of the horses were not to be believed? There was nothing for it but to sink or swim together. We duly published the Tissue on the Tuesday morning, the Cup morning. By a quarter past ten you could pick up a copy of the Tissue anywhere in the city. We sent cabs full of them to Flemington and scattered them all over the road and the course. Every one was saying “Mata” would win all right.
The Melbourne Cup was run that afternoon, and Mata did not win. As a matter of fact, he was one of the two last horses to finish. Grand Flaneur won—our tip for a place. All was up with the Turf Tissue. Nothing was left but for myself and my two partners to try to look happy and pay our responsibilities. I attended the office on the Wednesday, but my partners did not turn up, as I expected. I found out afterwards that they had lost their all, and that, as I had undertaken the financial responsibilities of the venture, it was left to me to have the pleasure of winding up our company’s affairs. I had in this respect to stand a great deal of good-natured chaff from my friends and General Scratchley, who thought it was quite a good joke.
I am reminded that years afterwards the following amusing incident occurred in Melbourne. The Melbourne Cup of 1896 was to take place. Some two months before the race the Duke of the Abruzzi, cousin of the King of Italy, then a young man and a sailor, arrived in Adelaide on an Italian man-of-war. He was making a tour round the world. I saw a good deal of him during his stay in Adelaide. I was then Commandant of South Australia. The duke was much interested in the Cup, and he was most anxious to get a good tip. A mare called Auraria, belonging to Mr. David James, of Adelaide, was in the race. She was a good mare, and a good deal fancied for the race by the talent in Adelaide. She had, at any rate, an outside show. So I suggested to the duke and his staff to put some money on, as the odds against her at the time were about thirty to one, and if she improved before the day of the race that price was sure to shorten and they could lay off. He made me write the name “Auraria” in his notebook, so that he wouldn’t forget. He continued his tour, and I had forgotten the incident. Later on I was in Melbourne, staying with Lord Hopetoun for the Cup carnival. I had backed Auraria myself, hoping to lay off. However, when the day came, nobody wanted to back her. As a matter of fact, you could get forty to one about her as the horses went to the post. The race started. Coming up the straight it was an open race. When they got to the distance the crowd yelled the names of several horses as the winners. At the half distance there came a regular roar. “Auraria, Auraria wins!” A few seconds more and Auraria was first past the post.
After the race we went to afternoon tea with their Excellencies. The room was full, but there were only one or two of us winners, when one of the A.D.C.s told His Excellency that the Duke of the Abruzzi was just outside and he had asked him to come in. In he came, with two of his staff, full of smiles, rushed towards His Excellency and said, “Look! I backed Auraria. We”—he pointed to his A.D.C.—“backed Auraria. We each win £160. Look! All here in our pockets,” which were bulging with gold and notes. And, turning round to the admiring crowd, he suddenly saw me. In a moment he was embracing me with both arms round my neck, saying, “Auraria, my friend! The beautiful Adelaide Auraria.” He then explained that it had been mere chance that he had been enabled to leave Sydney the night before, and had arrived at Flemington race-course just in time for the race, and they had backed Auraria with the cash bookmakers, obtaining the useful odds of forty to one. He then pulled out his pocket-book and said, “You see the name ‘Auraria’? You wrote it for me in Adelaide. I came to put my money on. It is splendid.” And so it was.