Alexandria, and open a branch house there, and
that his share in the profits of the concern
should be one-half of what we made in
Alexandria, and a fourth of what we made in
London, Mr. Velardi having supreme management
and sole direction of the affairs of all the various
firms. At Alexandria the name of our house
was to be White, Velardi, and Co., and as it was
announced that our new partner joined us with
a large capital—magnified, as is usual in these
cases, threefold and fourfold—we gained not
only in actual capital, but also in credit. And
as most of the trade at Alexandria is conducted
through Marseilles and Liverpool, it was thought
expedient to establish firms at both places. To
each of those ports a dummy Greek clerk was
despatched, with orders to accept and draw bills,
as he might be from time to time directed from
head-quarters in London; thus we at one jump
had two new "drawing posts" at our disposal,
to say nothing of the bona fide branch firm
established at Alexandria. Our means for doing
business were of course very largely increased
in every way.

I have said that our firm was at this time
thought to be wealthy, and no wonder. So
large and so intricate had our bill transactions
become, that I question whether Mr. Velardi
himself could have told what were our assets
and what our liabilities. If pen, ink, and bill
stamps could build up a fortune, then we were
wealthy indeed; but to me, who knew that the
foundation of our firm was paper, and that the
half-yearly profits of the concern were regularly
divided and taken away by the partners, the
future did not seem as bright—or at any rate as
certain—as it did to the outsiders who stood
looking on. We kept up appearances remarkably
well. We had, besides our house in London,
branch establishments at Odessa, Smyrna,
Liverpool, Marseilles, and Alexandria. At the
latter place the business we did was bona fide,
for Mr. Velardi was far too long-headed a man
to put himself in the power of a partner who
was son of a brother bank director, and, therefore,
not only was our commercial accommodation
bill system on our large scale not carried
out in that place, but produce was regularly
shipped from Egypt to Liverpool or Marseilles
on our account, and Manchester as well as
French goods sent out there on commission.
Our partner there—Mr. White—being known
to have brought capital into the concern, and
also to be the son of a rich London merchant,
we were looked upon in Egypt as a highly
respectable and wealthy firm, and the odour
of this commercial sanctity was wafted from
the banks of the Nile to those of the Mersey
and the coast of France, so that paper bearing
our indorsement or acceptance was freely
discounted in either place, and as we had judgment
enough not to overstock either place with
our paper, our prosperity seemed more than
likely to increase with time.

I had no reason to complain. I had worked
hard for Mr. Velardi, but I had been well
paid, and, having been allowed to follow the
example of my senior partner, could withdraw
my half-yearly share of the profits from the
concern. I was worth from three to four thousand
pounds, which I had invested securely and settled
upon my wife in such a way that all the legal
powers in England could not touch it, happen
what might. What Mr. Velardi's profits had been
up to this time I never could exactly make out,
but I know for certain that they were not less
than twenty thousand pounds; for he had settled
upon his wife, a house, furniture, and a round sum
in Consols which represented rather more than
this sum. Nor was our partner, Mr. White,
discontented with his lot; for, after he had been
little more than a year in Alexandria, he wrote
and told his father that his share of the profits
exceeded five-and-forty per cent of the capital
he had placed in our firm. As a matter of
course, this news got noised abroad, more
particularly among the directors and shareholders
of the Onyx Bank, so that our fame and our
credit increased and throve greatly all over the
city of London. As an instance how we
stood at this time, which I may call the zenith
of our commercial prosperity, a friend of mine
was offered no less than five hundred pounds if
he could by any means induce one or other of
our partners to become directors in a new joint-
stock concern:—palpable swindle. Nor was our
reputation for wealth less widely spread upon the
Continent. I happened about this time to go over
to Germany for my autumn holiday. By some
mistake or other, my luggage was sent from
Strasburg direct on to Trieste, instead of being
given over to me at Vienna, where I intended
remaining a few days. In my portmanteau was
my desk, and in my desk were my letter of credit
and circular notes, so that, except a few
napoleons I happened to have in my pocket, I was
penniless in a town where I was an utter stranger.
I went into the first private bank I came across,
and, asking to see one of the partners, told him
who I was, and requested him to telegraph to
London, and ask his correspondent there to
inquire of our firm whether he could on my order
advance me fifty or sixty pounds which I wanted
to pay my way until I could get my baggage
back again. But the moment I mentioned the
name of our firm, and showed by my passport
and letters that I was really the Mr. Watson
who was a partner in that house, the banker
offered me any sum of money I liked to ask for,
and placed himself entirely at my disposal,
adding to his civility and kindness by asking me
to dine with him, and go to his box at the
Opera afterwards.

To make our business affairs all the more
secure, both Mr. Velardi and myself left off in
a great measure speculating in shares and stocks.
It is true that wherever we had an interest in a
really "good thing," we kept what we had
purchased or obtained. But we left off buying or
applying for shares in new concerns, and resolutely
declined very many offers that were made us of
putting us upon the direction of "first-rate"
companies. Mr. Velardi continued a director of the
Onyx Bank, and took a very active part in the