A Bubble Burst

A Bubble Burst

by Fred Merrick White
     
 

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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…  See more details below

Overview

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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Product Details

ISBN-13:
2940148629504
Publisher:
Hillside Publishing
Publication date:
01/05/2015
Sold by:
Barnes & Noble
Format:
NOOK Book
File size:
747 KB

Meet the Author

Fred Merrick White (1859-1935), a British author of many novels and short stories under the name "Fred M. White", was born in 1859 in West Bromwich, a small town near Birmingham, England. The record of his birth indicates that his first name was actually "Fred" — not, as is often assumed, "Frederick." His second name "Merrick" was the maiden name of his mother, Helen, who married his father, Joseph, in West Bromwich in the September quarter of 1858. Before becoming a full-time writer, Fred M. White followed in his father's footsteps and worked as a solicitor's clerk in Hereford. By 1891, Fred M. White, then 31 years old, was working full-time as a journalist and author. The First World War and his 2 sons' war-time experiences as junior officers in the British military evidently influenced Fred M. White's writing during and after this conflict. His novel The Seed Of Empire, published in 1916, describes some of the early trench warfare in great detail—the places and happenings are historically accurate. A number of novels published in the 1920s describe the social changes caused by the war and the difficulties of ex-soldiers in fitting back into normal civilian life. Perhaps best known for his "Doom of London" stories, in which that city experiences a series of devastating catastrophes, Fred M. White produced a huge body of short stories and novels, mainly in the genres of crime, romance and science fiction. He was an avid golfer, which shows in some of his novels, along with fly-fishing and the card game of Bridge. Fred and his wife Clara spent their final years in Barnstaple in the County of Devon, an area which provided the backdrop for his novels The Mystery Of Crocksands, The Riddle Of The Rail, and The Shadow Of The Dead Hand. He died in the December quarter of 1935; his wife died in 1940. (Source: Roy Glashan's Library

The Master Criminal (1898)
The Dust of Death: The Story of the Great Plague of the Twentieth Century (1903)
The Romance of the Secret Service Fund (1900)
The River of Death: A Tale of London In Peril (1904)
The Four White Days (1903)
The Invisible Force (1903)
The Four Days' Night (1903)

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