Received 5-12-92
Answered 21-12-92
Lancing
21 October 1892
My dear Chris
I have only time to write a few lines to you. The Moonstone business has not gone off well and has given me some vexation. Forbes & Barker have both been doing their utmost to defeat our scheme and judging from your telegram of two days back they have been trying to prevent the completion of the purchase thinking I suppose we should not get money to pay by the 26th inst.
At a meeting yesterday the total number of shares taken up was something under 6000 and 480 sold by brokers not yet paid in. We resolved to ask the Consolidated Bank for a temporary loan of ₤2000 on the security of the uncalled portion of the shares allotted. We get our answer today.
We meet at 12.30. If they object we must get it elsewhere. We can’t let the thing fall through now. I have influenced friends to take interest in the mine to the extent of 1250 and taken myself 500. The other directors don’t seem to have got their friends to believe in it, although they do most heartily themselves having gone so far. I can’t withdraw now – but had I foreseen how much trouble the affair would cause I should not have had anything to do with it.
If we get this money and pay before the 26th I hope you will be able to get possession and title without any hitch. Give me all the reliable information you can about the mine and its prospects. Let me know of any probability of a reverse so that I may not lose my money.
If it succeeds other claims may be put on the market ???? by the same company. If people who have taken all the trouble about this – that is any ???? and help Stormont does not seem to have much ability. I am rather disappointed with him. I think he is straight enough but wants go. He is not quite the man you want to represent you in face of such opposition as Forbes and Barker. Have heard nothing of Witherson.
Tasman can do nothing outside in his present position. I hope will for the future put nothing in the way of either Forbes or Barker that you can withhold. I consider their conduct in this matter means bitter hostility – they made fair promises to me as I told you.
Balchin has addressed you relative to the drafts that by Tara had authority attached. The manager here says: ‘Our manager at Croydon can use his own discretion as to withholding or not even when the authority “sent”. I hope you pay regularly and do not let me into trouble in any way.
Balchin tells me Kuhner Henderson are still shipping liquor to you. I surmise they are consigning to you. Keep faith with Balchin.
Murdoch sailed last week in the Arcadia.
Archie sails on the 23 in Gulf of Ancud for ???? and Brisbane.
All are well at home. I have had a bad cold but am shaking it off.
I hope you don’t consider I have done unwisely in interesting myself in the Moonstone. It is entirely on your account as I think it will be a step if carried out successfully that will lead to fortune for you not I doubt for me.
I am pretty sure now that without my help they would not have a chance of getting it off. The public have been preventing from investing by your opponents, if we can pay the money and get a cable from you to say the property has been handed over, the shares will go off fast enough I don’t doubt.
Will add a few lines later.
Yours affectionately
Jas A Elmslie
4 pm
We four directors have to shell out £400 apiece to pay the amount agreed with Vendors. Tasman and Stormont have mismanaged the business in various ways. The bank selected the Consolidated (Tasman’s doing) in the very worst possible for an affair of this sort – won’t help us in any way. Neither Tasman nor Stormont seems to have any money and if this falls through it would be a hard hit for them and you also. The expense is already considerable. If you are all right about the lease and get possession on payment of ₤3000 we will find the money.
Mr Platz was going to write you today. Lane Brothers our brokers are acquainted with all Barker & Forbes have been doing. Also that they have offered to give more for the claim than Stormont agreed to pay.