"A nice conspiracy! You know that you settled me! What money am I going to have?"
It was difficult to get the three conspirators to come to terms—the law was powerless—and I had to content myself with £1,000. Cremorne's Derby calls up anything but pleasant recollections to the writer of these memoirs.
CHAPTER IX.
HOW TO SATISFY ONE'S CREDITORS WITH WASTE PAPER.
Payment suspended— Sympathy for the ruined man—An important letter—How worthless shares enabled a man to deceive his creditors and make a fortune.
The following unpleasant circular was placed in my hands one morning some ten years ago:—
"Dowgate Hill, E.C.,
"February, 7th, 1870.
"Sir,—It is my painful duty to inform you of the suspension of my business. The liabilities are more than covered by securities, but which, unfortunately, cannot be realized at present. I have placed my books in the hands of Messrs. Bowen, Young & Co., the accountants.—I am, &c.,
Alfred George Gibbs."
On turning up my ledger I found that Mr. Gibbs owed me no less than £3,560 14s. 6d. He had never been in my debt so much before, and the heaviest of his acceptances were on the eve of becoming due. It was a piece of bad luck for me that he should fail at this time. A few days more would have made all the difference. The business we transacted was in soft goods, which he exported to Australia.
If ever a human being appeared to carry his character plainly written on his face that man was Mr. Gibbs. He was openness itself; nothing secretive or cunning about him. His whole manner invited confidence. His age was about thirty-five, and he had in the course of seven or eight years made a great name for himself, and his dealings must have been on a large scale, as after an examination of his books the accountants announced that the liabilities amounted to £125,000, against which they could only place real property amounting to £9,000 and some doubtful assets.