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Updated: July 20, 2025
It is truly wonderful that they should have so long continued to preserve their credit when a demand for the payment of one-seventh of their immediate liabilities would have driven them into insolvency. And this is the condition of the banks, notwithstanding that four hundred millions of gold from California have flowed in upon us within the last eight years, and the tide still continues to flow.
They felt that in the last analysis there was no logical, honest argument for the discounting of payments unless it were a case of absolute insolvency with individual companies. It was maintained by the opponents to the "six-bit" policy that the insuring public had paid for what it assumed to be valid contracts and was entitled to just indemnity and payment in full.
Magical prosperity is succeeded by a general insolvency among builders and land speculators; after a few years of fallow another start takes place, and so on speculation follows speculation. Birkenhead has had about four of these high tides of prosperous speculations, in which millions sterling have been gained and lost.
And how his father, limited as he was in his resources and destitute, you would have thought, of all opportunity for wild expenditure, how he could have contrived to owe the amount he did owe passed Ranny's understanding. Into that pit of insolvency there went all that was fetched by the sale of the stock and the goodwill of the business and all that Mrs.
It was not at all seemly, at a moment when the Company itself was so distressed as to require a suspension, by act of Parliament, of the payment of bills drawn on them from India, and also a direct tax upon every house in England, in order to facilitate the vent of their goods, and to avoid instant insolvency, at that very moment, that their servants should appear in so flourishing a condition, as, besides ten millions of other demands on their masters, to be entitled to claim a debt of three or four millions more from the territorial revenue of one of their dependent princes.
When I do, it will be a tooth-and-nail fight, and I must be equipped with facts, not theories. I want some particulars about Mr. Lawton's insolvency, and there is no one who could more naturally inquire into this without arousing suspicion than you." "I don't need to tell you, Mr. Blaine, how anxious I am to do anything I can to help you, for Miss Lawton's sake," Ramon Hamilton replied eagerly.
So he said to him, "Hold thy hand, O ass-driver;" and the donkey-boy desisted and cried, "Praised be Allah for thy safety, O master! Verily my heart was with thee." "Why so?" "Thou art become bankrupt and they have filed a docket of thine insolvency." "Who told thee this?"
In another half-hour the car was ready, and when Bland helped Sylvia in and wrapped the furs about her, there was something new in his care for her comfort. It was a kind of proprietary gentleness which she did not resent. Then they sped away across the dusky moor. Sylvia finished her round of visits in a state approaching insolvency. Mrs.
Watson's efforts, his patient plodding industry and commercial skill in connection with this insolvency, were greatly commended at the time; and, indeed, as the affairs of the company were in a state of the greatest confusion, it required more than ordinary tact and perseverance to place them on an intelligible and proper footing. It would be unpardonable to omit reference to Mr.
The immediate result of defeat would mean, of course, that insolvency would take place in a very large number of commercial businesses, and others would speedily follow.
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