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But a higher rise than this was confidently expected, and Taynton, though not really of an over sanguine disposition, certainly hoped to make good the greater part if not all of their somewhat large defalcations. In other words, the moment that the shares rose to a price higher than £6 3s, all further appreciation was pure gain.
"I am to go out and leave you in possession?" he continued. "You will stay here sole proprietor of the house; you will stay at the office sole owner and representative of the firm? You are a good hand at a deal, James Fletcher." "I am an honest man," said Fletcher, "and to raise sufficient money to make your defalcations good will not by any means leave me the gainer, as you very well know."
Roughly the decline meant the loss of a hundred million dollars to the fifteen thousand share-holders. From every city of importance in the country came tales more or less tragic of holdings wiped out, of ruined families, of defalcations and suicides. The losses in New York City alone were said to be fifty millions.
You are a good hand at a deal, James Fletcher." "I am an honest man," said Fletcher, "and to raise sufficient money to make your defalcations good will not by any means leave me the gainer, as you very well know." "There is no necessity to borrow," began Burleigh, eagerly. "We can pay the interest easily, and in course of time make the principal good without a soul being the wiser."
His trial at the Paris Arsenal lasted several months. Proofs of his defalcations were numberless. His family and proteges made frantic yet futile efforts to save so great a culprit. The Commission sentenced him to death, and ordered the confiscation of all his property.
He knew that he was surrounded by men who were inveterate thieves, and when their defalcations were brought to his knowledge, they were either cashiered or made to disgorge. Bourrienne, Talleyrand, and Fouché, for instance.
Notwithstanding these terrible defalcations, when the numbers were announced, at nearly four o'clock in the morning, the majority had not reached those three magical figures supposed necessary, under the circumstances, to success.
They were messengers of the Sultan, carrying letters to the Kaid of Mequinez, commanding him to present himself at the palace without delay, that he might give good account of his stewardship, or else deliver up his substance and be cast into prison for the defalcations with which rumour had charged him.
He had left evidence of his identity, and when it was discovered that the stranger was Stephen Lawrence, Mrs. Clarkson's nephew, the once flashy young gentleman who controlled her estates, and who had been sent abroad when grave suspicion rested upon him of being seriously involved in pecuniary defalcations, it created a fresh sensation, and revived all the old stories of bygone days.
I do not believe that Comoundouros was personally complicated, but I find in one of my letters the following, under date, "Athens, June 10:" "Things here are in a horrible state. The latest disclosures of the great defalcations seem to involve so many officials and non-officials, and break out in so many new directions, that one does not know whom to exonerate.
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