322 KINGSCLERE 



DR. SHORTHOUSE AND THE SWINDLER, WALTER 



Only propose to blow a bubble, 

 And, Lord ! what hundreds will subscribe for soap ! 



It is due to the late Dr. Shorthouse to state that he 

 was the first to publicly prick the Kingsclere Discretionary- 

 Investment bubble and to place the blower in the pillory 

 — that, too, when journals which were paid large sums for 

 advertising Walter's nefarious scheme were investing 

 him with undeserved respectability by means of favourable 

 1 opinions of the press.' In a reply to a letter which Mr. 

 Walter wrote ' to clear myself from the stigmas cast upon 

 me,' Dr. Shorthouse not only exhibited the swindler and 

 his fraudulent undertaking in their true light, but defied 

 him to take proceedings. He said, ' Mr. Walter's letter 

 was accompanied by one from a solicitor who demanded 

 an apology for a " scurrilous, slanderous, and libellous 

 attack, which had injured that gentleman in his good name 

 and character, and also in his business ; " and demanding 

 an " apology which shall be deemed by Mr. Walter suffi- 

 cient," or in default threatening all sorts of pains and 

 penalties. We tell Mr. Walter frankly and most decisively 

 that he will get no apology from us. He may take his 

 case into any court he pleases, criminal or civil — and the 

 former is delicately hinted at — and we shall be happy to 

 meet him there ; and if he brings his decoy duck, Mr. 

 Beaumont, of Poultney Street, Bath, with him, we shall 

 be all the more pleased. We are especially desirous to 

 see that individual. Mr. Walter advertises a letter he 

 alleges he received from Mr. Beaumont, testifying to Mr. 

 Walter's " discretionary system," and we wrote to Mr. Beau- 

 mont at the address given. Our letter was returned 

 through the dead letter office, endorsed " not known." ' 

 There was no action. 



His frauds exposed as ' Walter and Balliee,' Walter 

 continued his nefarious operations as ' Holland and Raine,' 

 ' Wills and May,' ' Norton and Glover,' and under other 

 aliases. In August 1 871, William Walter, of 6 Myrtle 

 Terrace, Ravenscourt Park, Hammersmith, was brought 

 before Sir Thomas Henry, on a warrant obtained by the 

 Treasury, charged with keeping a betting office, and fined 

 100/., or in default ' six months.' He said he thought he 



