The Blotting Book by E.F. Benson

Mr. Taynton's statement to his partner, which had taken him so few minutes to give, was of course concerned only with the latest financial operation which he had just embarked in, but for the sake of the reader it will be necessary to go a little further back, and give quite shortly the main features of the situation in which he and his partner found themselves placed.

Briefly then, just two years ago, at the time peace was declared in South Africa, the two partners of Taynton and Mills had sold out L30,000 of Morris Assheton's securities, which owing to their excellent management was then worth L40,000, and seeing a quite unrivalled opportunity of making their fortunes, had become heavy purchasers of South African mines, for they reasoned that with peace once declared it was absolutely certain that prices would go up. But, as is sometimes the way with absolute certainties, the opposite had happened and they had gone down. They cut their loss, however, and proceeded to buy American rails. In six months they had entirely repaired the damage, and seeing further unrivalled opportunities from time to time, in buying motorcar shares, in running a theatre and other schemes, had managed a month ago to lose all that was left of the L30,000.