FATAL AND FINAL SALES 253 



mission. This struck the directors of the Stud Company 

 as an unreasonable demand, and, as stated above, the 

 business was transferred to Mr Rymill, an excellent 

 auctioneer, but unknown in that capacity to bloodstock 

 buyers. The result was disastrous, for every likely buyer 

 thought he would have to pay money down for everything 

 he bought, though, as a matter of fact, Mr Rymill was 

 quite ready to open accounts with any well-known men, 

 and had provided 5000 to enable him to finance the sale 

 to the satisfaction of everybody. Buyers fought shy, and 

 the total realised for 56 yearlings was only 10,700 

 guineas, not half the 22,070 guineas which had been 

 totalled at the sale of the year before. Such a drop 

 as this coming on the top of an already dubious financial 

 situation was fatal, and whenever I hear people com- 

 plaining of Messrs Tattersall's monopoly as auctioneers 

 of bloodstock I always call to mind that one object-lesson. 



A meeting of the Company was summoned, and a volun- 

 tary liquidation was decided on. There was no real 

 trouble with outside liabilities, but things were going 

 from bad to worse and there was no use in carrying on, 

 even if it had been possible. 



It was later on ordered that the liquidation should be 

 under the supervision of the court, and the court con- 

 tinued Mr Rymill in the position of auctioneer at the 

 final sale. 



This time he was far more successful, for there were 

 many foreign buyers. One hundred brood mares came 

 under the hammer, and forty-seven foals. Blair Athol, 

 then eighteen years old, and Wild Oats were among the 

 stallions. The total realised was 53,150 guineas, which 

 sufficed to pay off the debentures and all other debts. 

 The shareholders got nothing. Perhaps I should not say 

 that, for I, who was the principal shareholder, had got 

 experience which in later years proved that the money 

 lost by me had not been wasted. 



I find that I even wrote some few lines on the subject 

 of the Stud Company : 



