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Updated: June 8, 2025
And if, as is almost always the case, the private shares had been hypothecated with banks and trust companies for money wherewith to conduct other enterprises, the falling of their value in the open market merely meant that the banks would call for large margins to protect their loans or call their loans entirely. This meant that his work was a failure, and he might readily fail.
When it appeared that Chinese likin revenues were to be hypothecated to foreign bankers in connection with a great railway project, it was obvious that the Governments whose nationals held this loan would have a certain direct interest in the question of the carrying out by China of the reforms in question.
"Is this poor boy, whom I saw born, doomed to be plucked alive by that woman, roasted by his very love, and devoured by his wife? I, who have nursed these fine estates for years with such care, am I to see them ruined in a single night? Three million and a half to be hypothecated for eleven hundred thousand francs these women will force him to squander!"
Hand, to play safe, had hypothecated nearly all his shares with various banks in order to release his money for other purposes, and he knew he would not dare to throw over all his holdings, just as he knew he would have to make good at the figure at which they had been margined. But it was a fine threat to make. Mr. Stackpole stared ox-like at Mr. Hand.
The thought occurred to him to send for Elton and throw himself on his mercy, but he shrank from such an interview. Elton was a business man, and a promise was a promise. He had enjoyed the consideration for his promise; his notes were secure and the hypothecated bonds had been redeemed.
"I don't understand you," said Demorest impatiently. "WHAT has happened?" "Haven't you heard the news?" said the manager in surprise. "It's in all the Sacramento papers. Van Loo is a defaulter has hypothecated everything he had and skedaddled." Barker started. He was not thinking of the loss of his wife's money only of HER disappointment and mortification over it. Poor girl!
By lucky sales of some of the securities that had been hypothecated they managed to save a little; but, on the whole, it was what Percival described it, "a lovely autopsy." At last the vexatious work was finished, and he was free again. At the end of the final day's work he left the office of Fouts in Wall Street, and walked up Broadway. He went slowly, enjoying the freedom from care.
"There, my son," said his father to him one day, "you won't often see a bundle of those around this neighborhood." He referred to a series of shares in the British East India Company, deposited as collateral at two-thirds of their face value for a loan of one hundred thousand dollars. A Philadelphia magnate had hypothecated them for the use of the ready cash.
A friend who owned another third share in his company had hypothecated his stock to help form the new company; and now came a call from the bank for more collateral, and he was obliged to sell out.
Everything that could be handed over, even in opposition to the rights of nations as such are known in modern civilized States, Germany has given. She has also hypothecated all her national goods. What can she give now? Germany can pay in three ways only: 1. Merchandise and food products on account of the indemnity: coal, machines, chemical products, etc.
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