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It was, however, rejected by a majority of 108, and a few troubled days of conspiracy and panic still remained before the blow was struck. The state of the public securities and the testimony of the best judges of all parties showed the genuineness of the alarm.
For Roland Sefton did not spare himself any reproaches; he did not attempt to hide or palliate his sin. There were other securities for small sums, like old Marlowe's, gone like his, and ruin would overtake half a dozen poor families, though the bulk of the loss would fall upon his senior partner, who was a hard man, of unbending sternness and integrity.
For her sake he had longed for more wealth, and speculated in the hope of gaining it, and tampered with the securities intrusted to him in the hope of retrieving losses. It was for her, and her only, he maintained; and now he had brought infamy and wretchedness and poverty upon her and his innocent children.
But to want ten thousand dollars and to get it in a given space of time, when you have neither securities, cash, nor real estate, is enough to keep you awake at night. Crozier had been so busy with the delicate and difficult negotiations that he had not deeply concerned himself with the absence of the necessary ten thousand dollars.
"There is nothing of that sort there beyond what I and my nephew know of. I am sure your lordship's jewels are not there." "But Horbury?" exclaimed the Earl. "Where is he? He would tell you!" "We don't know where Mr. Horbury is," answered Gabriel "The truth may as well be told he's missing. And so are some of our most valuable securities." The Earl slowly looked from one partner to another.
In my own opinion it is much too high, and considering the problem by a different method of attack I arrive at a lower figure. For leaving out of account sequestered Allied securities and investments in Austria, Russia, etc., what blocks of securities, specified by countries and enterprises, can Germany possibly still have which could amount to as much as $1,250,000,000?
Then the dogmas being in this wise sheltered, he adroitly maintains himself in equilibrium by giving securities to every power, striving to utilise every opportunity.
"Colonel Houghton stated to me, fully, his reasons for making such a disposition of his property and, as he had no near relations, I was able to approve of it heartily. I may say that he has left nearly sixteen thousand pounds. The other small legacies will take about a thousand, and you will therefore have some fifteen thousand pounds, which is all invested in first-rate securities."
"In the new bank, I suppose?" "The correct supposition," answered Ed. "I have been invited to subscribe for some of the new issue of stock, and I've decided to. I'm going over to get it in a day or two. I'm to pay partly in cash, and turn over to them some of my bonds and other negotiable securities that I inherited from father, who was a banker, you know. I think I am making a good investment."
In the case of the Bank of England the limit then established was £14,000,000, and it was enacted that if any note-issuing bank gave up its right to a note issue the Bank of England should be empowered to increase its power to issue notes against securities to the extent of two-thirds of the power enjoyed by the bank which was giving up its privilege.
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