“Five hundred and fifteen thousand one hundred and fifty pounds,” said Frank.
“Five hundred thousand—very good,” returned Louis, thoughtfully. “And how is the sum secured?”
“Chiefly by acknowledgments from the bank with the indorsement of John Potts, President.”
“What are the other liabilities?”
“He has implored me to purchase for him or sell him some California stock. I have reluctantly consented to do so,” continued Frank, with a sardonic smile, “entirely through the request of my senior, and he has taken a hundred shares at a thousand pounds each.”
“One hundred thousand pounds,” said Louis.
“I consented to take his notes,” continued Frank, “purely out of regard to the recommendations of my senior.”
“Any thing else?” asked Louis.
“He urged me to recommend him to a good broker who might purchase stock for him in reliable companies. I created a broker and recommended him. He asked me also confidentially to tell him which stocks were best, so I kindly advised him to purchase the Mexican and the Guatemala loan. I also recommended the Venezuela bonds. I threw all these into the market, and by dextrous manipulation raised the price to 3 per cent, premium. He paid £103 for every £100. When he wants to sell out, as he may one day wish to do, he will be lucky if he gets 35 per cent”
“How much did he buy?”