A Bubble Burst

Fiction & Literature, Short Stories
Cover of the book A Bubble Burst by Fred Merrick White, Booklassic
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Author: Fred Merrick White ISBN: 9789635267347
Publisher: Booklassic Publication: June 29, 2015
Imprint: Language: English
Author: Fred Merrick White
ISBN: 9789635267347
Publisher: Booklassic
Publication: June 29, 2015
Imprint:
Language: English

How a Stock Exchange Scare Dislocated the Life of the Empire For Two Days, a story in the "Doom of London" series in which the author sounds the clarion call of potential disasters that my befall the great city. Here, it is the tale of an investment "bubble", an irrational exuberance for buying shares of South African gold mining stocks. Excerpts:

"From the highest to the lowest everybody was investing their savings in South Africa. ... In other words, there was a tremendous 'boom.' Nothing like it had ever been seen in the history of commerce. It was the golden hour of the promoter. Yet, for the most part, the schemes promised well. There was, however, an enormous amount of rubbish on the market. Some of the more thoughtful financiers scented danger ahead, but they were not listened to.

"All England was in the grip of the mania. Bona fide speculation and business had become gambling pure and simple. London thought of nothing else. The City was crammed with excited buyers and operators...."

Then a cable telegram arrives from South Africa at one London newspaper office, saying that a tremendous earthquake has destroyed the Johannesburg water system and flooded the gold mines. The undersea cables from South Africa then broke down after the message was received, so no further messages could be sent or received to confirm or to learn more. The newspaper publishes the exclusive news. Investors panic and sell their shares at any price before they are ruined by plunging values. But is it true, or a fraud? -- a market manipulation?

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

How a Stock Exchange Scare Dislocated the Life of the Empire For Two Days, a story in the "Doom of London" series in which the author sounds the clarion call of potential disasters that my befall the great city. Here, it is the tale of an investment "bubble", an irrational exuberance for buying shares of South African gold mining stocks. Excerpts:

"From the highest to the lowest everybody was investing their savings in South Africa. ... In other words, there was a tremendous 'boom.' Nothing like it had ever been seen in the history of commerce. It was the golden hour of the promoter. Yet, for the most part, the schemes promised well. There was, however, an enormous amount of rubbish on the market. Some of the more thoughtful financiers scented danger ahead, but they were not listened to.

"All England was in the grip of the mania. Bona fide speculation and business had become gambling pure and simple. London thought of nothing else. The City was crammed with excited buyers and operators...."

Then a cable telegram arrives from South Africa at one London newspaper office, saying that a tremendous earthquake has destroyed the Johannesburg water system and flooded the gold mines. The undersea cables from South Africa then broke down after the message was received, so no further messages could be sent or received to confirm or to learn more. The newspaper publishes the exclusive news. Investors panic and sell their shares at any price before they are ruined by plunging values. But is it true, or a fraud? -- a market manipulation?

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