Chapter 20: Chapter 20

The people in Collins Street were so distraught none had so far thought to try the

back entrance and the two men strolled as casually as they could out of the lane and

turned away. It was only when they were safely out of sight and walking along the

busy street that Pryor turned to his partner.

I got four hundred quid, what did you get?

Fox paused to dive into the bag they had taken from the clerk before sending him

back to the office. "There's three hundred here. I'm going to save Benno's money and

Henry's even if I don't do anything else. We're going to need the rest to see us

through.

Pryor snapped his fingers. ''Sorry, Gabby. I was so busy thinking about our affairs I

forgot We both had bank accounts there, too . We can’t go back and knock him up a

second time. He won’t come to the door again. Anyway, we should be able to get

through now we’ve got most of the money back.”

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At their office a crowd had gathered also. It was a noisy crowd showing signs of panic;

the news of the bank failure had soon spread and every finance office in the city had

it's own fringe of frightened depositors and investors. James Pryor did not pause at

the edge of the crowd.

''Make way please,'' he cried. ''Make way. Let me through. I am James Pryor, Managing

Director of the Melbourne and London Amicable. Mr. Fox and I will soon sort this out.

Come along Mr. Fox, we must talk to our friends here about this terrible bank crash.''

In no time they were behind the barrier of the counter and facing a crush of people.

But Amy was there! She and Harold had appropriated the office chairs and were

sitting watching him. Amy smiled and blew him a kiss. He would have stammered

something but Pryor was in command.

He stood on another chair and held up his hands as though he were a bishop about to

bless his flock.

''I am sorry we were not here earlier. Mr. Fox and I came as soon as we heard the

dreadful news because we thought some of you may have imagined that we too could

have been caught in this shocking financial calamity. You need have no fears. The

Melbourne and London Amicable Building Society is as solid as a rock. My partner,

Mr. Fox, who is a financial and banking expert, took it upon himself as his first duty on

arriving from England to examine the financial strengths and credit base of all banks

in the colony and I am sorry to say that the Occidental & Civic Bank did not pass the

test. Of course, the result of its weakness we have observed today. A great tragedy for

thousands of Victorians. What we do intend is to take advantage of Mr. Fox's expert

financial knowledge, to start an investment advisory service. It would have been a

great boon to Victorian investors if Mr. Fox had been able to make more widely

known his findings on that unhappy institution before its collapse.'' He was

interrupted by an impatient workman who had forced his way to the counter.

“That's alright abaht 'im, but what abaht ahr money?”

Mr. Pryor's first eloquent sentences had hardly begun to work because there was a

pretty general sentiment in the office that the cockney workman had spoken for all of

them. A few people called out to back up his inquiry. Mr. Pryor looked at him coldly.

''You have money invested in this office?'' He asked.

''Too right I 'ave! S'mornin' I guv' that man ten quid deposit on an 'ouse. I've changed

me mind and I want me money back.''

Mr. Pryor shook his head sadly. ''I thought this might happen. Once a financial

institution fails it casts a shadow over all the others no matter how solidly based they

may be.Very well, you shall have your money but I must warn you that once the house

that you chose has been built its price will increase greatly, probably by fifty percent,

and you would be lucky to buy it for that. By then it will be too late you will have to

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115

pay extra or purchase an inferior house on worse terms because you were frightened

of a shadow today.''

''I don't want a check! This bloke 'ere said I'd have to wait until I got a check from

Sydney. That's no good to me, I want cash in me 'and, now!!!!''

There were cries of support from others present causing Mr. Pryor to look round his

audience in great pain.

''This is very sad. Mr. Fox and I thought we may have encountered an attitude of this

kind and that is why we have prepared ourselves. You will be paid in cash! Every

single person who has doubts about the financial stability of this office will be paid in

cash this afternoon. The doors will not close until you have all been satisfied. We have

several thousand pounds on hand, which should be enough. If it is not we will send

out for more because I have arranged for our financial agents to stand by to supply us

with as much cash as is needed.''

''The only condition we make, which is fair enough, is that you must produce an

official receipt or document from this office to indicate the extent of your credit.”

It appeared that the workman could have been won over by what he had heard, but

he produced a paper from his pocket and laid it on the counter.

“Examine that please Mr. Pringle”, said Pryor grandly. ''Is it a receipt issued by you in

the course of business today and is it to the value of £10''

Pringle examined the receipt and admitted that the client was quite right.

“Have your documents ready, please Ladies and Gentlemen, so they can be examined

and verified by Mr. Pringle. In the meantime I will ask Mr. Fox to withdraw behind the

screen, and he will be our cashier. As a man who has handled millions of pounds in

our London office I am sure he is capable of counting out the hundreds of sovereigns

we will be dealing with tonight.

''Don't forget, Mr. Pringle, each client must sign a release on the back of each

document. If any lady or gentleman is unable to write have them make a cross and we

will both witness it.

Mr. Pryor did not examine any of the papers or assist with counting or handing out

money: he was there to give the proceedings an air of permanence and respectability.

The cockney workman was paid in sovereigns but did not go away as soon as he had

his cash but hung around inside the door.

The next investor was a very young mother carrying a baby swathed in the grey

shawl she wore. Her receipt showed an investment of £20 about a week ago. She

explained that it was an inheritance; all she had, and she couldn't afford to lose it with

the possibility of her husband's job disappearing if the works closed down.

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“I hope you don't blame me, she said.

“Not at all, my dear. It's natural that when you hear of tragedies like this you don't

want to be part of them. It is a pity the money was not left there longer it would have

the first step to owning your own house. However, you do what you think best. But

whatever happens take care of it, and the baby, on the way home.”

By this time the mood of the clients had changed. Pryor's apparent honesty and

respectability had made a great impression and his willingness to pay everyone out in

cash had the intended effect.

"Really and truly now," asked a woman, "is our money safe? Can we trust this office?

Pryor raised his right hand. “Word of honour. This office is as safe as a,'' he paused. ''I

was going to say as safe as a bank but when one considers the sad event that took

place today the word is not appropriate. Let me say that the London and Melbourne

Amicable Building Society is as solid as the Rock of Gibraltar, or as the British Empire

itself."

The press of people in the office was now decreasing as some of those near the door,

satisfied with what they had seen and heard, began to slip away taking their papers

with them. They were replaced with others who had been trying to get in earlier but

the tension was considerably less for there had been reassuring murmurs running

through the crowd from time to time as information was relayed to those outside.

Some were merely onlookers who were curious to see what a collapsing financial

institution was like and what the reaction of the disappointed depositors would be.

The cockney workman, rather shamefacedly returned his ten sovereigns to the

counter and redeposited them on the house he had chosen. The money was

graciously received and he was congratulated by Mr. Pryor on his judgment and his

prospects of obtaining an excellent new abode within a few months: provided, of

course, he kept up the monthly payments of £1.

It was late afternoon when the office finally emptied. The partners shook the hand of

Mr. Pringle, thanked him for his support during the crisis and looked forward to

seeing him at the office the following day.

The door was bolted shut and Pryor collapsed into a chair, vacant. at last.

''What a day Thank God no one got hysterical. We could have lost control as easy as

anything. If we had of it would have been all up with us.''

''You were superb!'' said Gabriel.

''You both were,'' cried Amy, leaping from her chair. She ran across to hug and kiss.

Gabriel yet again.

''I deserve one of those,'' said, Pryor. ''It was me that did all the talking.''

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Amy obligingly gave him a hug and kiss on the cheek.''

''So far so good,'' said Pryor, ''But we're still on a knife-edge. One wrong step, one

inquiry by the wrong people, and the whole business could come crashing down.”

''What assets do we have? Gabriel took some paper and dipped his pen into the

inkwell. Two weeks to go before we have to pay the next rent instalment.

''Put that away,'' said Amy. ''You've done enough for one day. We'll go back to the

restaurant and have a meal. You can talk it over there.''

''I just remembered, We ran out without paying.''

"It's alright, father paid, but you can apologise and pay him back next time you meet.

He wasn't expecting to pay and doesn't have an awful lot of money, but I'll make sure

you do the right thing.''

They went back to Mr Hosie's restaurant. Harold slumped into a chair and dozed off.

His sister had taken his bottle of brandy away from him several times while they were

in the office, but he always got it from her again. She did not want to be seen in public

struggling with him for possession of a bottle of brandy. Now he was snoring with his

head thrown back. Amy was terribly embarrassed but the staff politely ignored him.

So did Pryor. “We haven't been pushing the real estate side of the business hard

enough,'' He said

There will be an ad in the papers in the morning advertising the houses at Prahran.

We will have to be on the ground early and, with luck' we'll be selling like billyoh all

day. The footings of the first row have gone in so at least we will have something to

show."