The ‘London Gold Rush’ 1903: Part 6 (and Final).
Davy was invited back to his employers in September to examine and discuss his proposal in relation to the steamroller. At the meeting he laid out his business plan in detail. He had been working on it for the previous two weeks and was happy that every argument was soundly based and could not be faulted. Mrs. Manners surprisingly showed that she had a rare talent for such things. The gist of his proposals were that Davy’s new company ‘DavWil’ would supply one steamroller and driver as and when required by the company at a fee of twenty-five pounds per day. In order to justify the cost, four men from the gang would be released as no longer required. Davy did not like the item about the men but already had an idea in his mind. He agreed the terms and signed the contract.
In December they received the brand new steamroller from the manufacturers and to Davy’s utmost surprise, once Willie had read the instruction manual and had a few phrases explained to him, he managed to handle it like a veteran.
As Christmas approached, Davy decided to pay a short visit home. He wrote to his mother telling her that he would be bringing with him Mrs. Manners. Davy’s mother did not know what he really meant by such a thing and was on tenterhooks until the day of his arrival. Mrs. Manners loved the town and area and formed a friendship with Mrs. Williams that would remain for the rest of their lives. They were more like sisters than business partners were.
Davy called a meeting of the contracted weavers in his mother’s house. He introduced Mrs. Manners as the person who would be taking over the day to day running of the project as he envisaged that he was going to be too busy in the near future. The members were hesitant at first until she stood up and spoke with authority and what she already knew of Irish Linen. Her argument for acceptance was so sound that no one could dissent. With that, Davy made arrangements to return to London whilst Mrs. Manners would remain for a couple of weeks.
Davy later discovered that the first thing that Mrs. Manners did was to form a second
Co-Operative of Weavers this time adding the word
‘The Star’ before the title. This would allow the company to sell to whomever they liked and thereby get rid of the only source in London of its monopoly. She also suggested that their company
DavWil include the word
‘Textiles’ for future reference in relation to the Linen and that the other include the word 'Engineering'. It was strange, but he, Davy had never thought of that point. Both he and Willie agreed the proposed changes. The second thing she did was to arrange the dispatch of a quantity of their finest linen to the
King in London. It was no surprise when the
Palace accepted the gift and awarded them
‘The Royal Warrant’. As a result another one hundred unemployed weavers were recruited.
As soon as the Warrant was received, Mrs. Manners sent a similar gift to the American Ambassador in London. She received a most congratulatory letter of thanks and an offer of help in establishing an outlet for their products in the United States, beginning with one of the largest stores in New York. In anticipation, and correctly so, Mrs. Manners recruited a further two hundred weavers. In fact, all the weavers in the town of Banbridge were now producing all types of wares under her management and specifications. Within six months, their exports amounted to almost fifty thousand pounds. There would be a delay in receiving payment but Mrs. Manners who originally had intended staying merely for weeks had now extended her stay to six months. She paid the weavers what funds they required. The once dying town was now one of the most industrious in the whole of Ireland.
Their greatest achievement as far as Davy was concerned, which even outdid that of the Royal Warrant, was an order from the President’s Secretary in the White House in America. They ordered fifty sets of bed linen including all the accessories. This would keep several of the weavers busy for at least six months. As soon as this information was leaked to the press, he anticipated that orders from the United States would more than quadruple.
Back in London, the steamroller was working most days of the week. When not required by the company, which was rare, Willie would negotiate a couple of day’s work for other navigators. The steamroller was in fact earning their company almost one hundred pounds per week.
Davy’s hunch had been correct for literally within months, the company was accepting contracts from all types of sources for roads, pavements, the levelling of factory sites, access roads and a hundred and one other uses. Davy was already beginning to plan the purchase of at least one more steamroller.
He had not officially ‘laid-off’ four men from the team. He had decided, and this was agreed by the other members of the team, that he would pay their wages from the ‘bonus’ payments. It was in fact logical, as with those extra men the work would be completed well ahead of schedule. Not only that, but when not too busy they could be hired out to do other types of similar work. Everyone was happy with the arrangements.
Willie truly missed Mrs. Manners and longed for her return. They had ‘hired’ a part time maid to keep the house clean and tidy but Willie could not get along with her. He actually prayed for the day when Mrs. Manners would return.
In fact she did return briefly in May and informed Willie and Davy that she had in fact fallen madly in love with Banbridge and its surrounds. She intended to ‘sell up’, return as quickly as possible and settle down on the outskirts of the town in the shade of the Mourne Mountains. Willie was devastated whilst Davy sensed a business opportunity. He came straight out with it. "How much will you be looking for the house Mrs. M.?" he asked. "In the region of three hundred pounds Davy, but if you were interested, I would leave everything that’s here, excepting a few personal items". "You have a deal, Mrs.M." Davy replied not having the faintest idea from where the money was coming.
----------------------------------
Mrs. Manners packed two large trunks with her clothes and personal photographs and such and had them shipped to Ireland. She signed over the house to Davy without payment having been made. He did in fact pay her one hundred pounds from his savings as a deposit. She insisted that this would suffice until money began arriving from the American sales of the linen. He was in fact to receive news that would very shortly resolve all his problems.
It came completely out of the blue and had obviously been kept a closely guarded secret among those concerned. A group of wealthy philanthropists had formed a company with the intention of building a
‘new town’ on the northern extremities of London to which they intended to rehouse many of the poor from especially the
East End of London. It would be affordable accommodation and there would be a rapid train service direct to the centre of London. It was expected that it would take a minimum of five years to complete. The plans having been prepared, Davy was invited to attend a meeting with the consortium. Davy’s name had been put forward as one of the best employers in the engineering field and at least three of the six members of the group had asked that all efforts be made to recruit him for the project.
Their offer was quite simple. He was asked if he considered it possible for him to form an engineering company to prepare the site, build all the necessary access roads, lay water, gas and electrical supplies and all other such work that would lay the foundation for the new town.
Davy was shocked at the proposal and asked for time to consider the proposal. He was given four weeks in which to do so. Without hesitation, he went to his company’s office and spoke to Mr. Jones, the head engineer he had dealt with in the past. Much to his surprise, a little information regarding the project had preceded him and Mr. Jones was only too willing to join the project. He was asked to sound out any others members of staff who might be also interested. Davy had unknowingly become one of the original
‘head-hunters’.
Once again Lady Luck laid her hand on Davy, not to mention Willie. Willie had become one of the most competitant self-taught civil engineers in the country. He found that he had the ability to look at a site and visualise the completed project. A couple of examinations of soil and rock from the vicinity and he could price a job both competitively and financially sound.
Davy discovered from Jones the engineer that there was severe unrest among the white-collar staff at the company and that the aged family members who owned it would be only too happy to ‘get rid of it’. Notwitstanding all the new contracts they had taken on, they were losing money at an ever increasing rate. Again without hesitation, he asked for an appointment to meet with the senior management to discuss the purchase of the company.
He attended the meeting with Willie. Jones the engineer was present on the company’s side and no mention of his future intentions was given to the company. He was in fact playing the role of a double agent. Davy had not liked the idea for as he said to Willie "If he does it once, he might also do it later on us". However, it was Willie who came out with "Davy, all is fair in love and war – and especially business".
To their surprise from the first moment it became obvious that the management wanted at all costs to ‘get out’ as quickly and as cheaply as possible. On the other hand, it was Davy’s intent to ‘get in’ on precisely the same terms.
Davy hit them with a further major surprise when he stood up and announced that he had been offered the engineering contract for the ‘new town’ project, which incidentally was to be the first of many. He could see that the senior management were absolutely shocked at the news. Davy sensed that they would be only too willing to become part of such a project. He therefore stood up and announced: "I and my colleague, Mr. McLaughlin on behalf of our holding company, DavWil Engineering, are willing to offer your company directors one third share option in exchange for your company. I anticipate that such an offer will be worth one third of a million pounds over three years and far more over the next ten to fifteen years. Gentlemen, we shall withdraw and await your decision". With that, both he and Willie left the room.
Outside, Willie began to stutter badly. "Wha, wha, what in the name of Go,Go,God Almighty have you done Davy. Where are we going to get all that mon, mon, money?"
"What money is that" Davy asked with a broad grin on his face.
----------------------------
The interval stretched on and on with tea and biscuits being served at stages. After more than one and a half hours, they were asked to rejoin the meeting. The ‘opposition’ began to haggle about the share of the new company, which in fact weakened their position. Davy stood firm on his offer. When he actually became tired of the repetitious statements being made by the various members, Davy, feeling tired stood up and announced. "Gentlemen, I shall leave you with my offer and if we have not heard from you within seven days to our satisfaction, we shall take our offer elsewhere. Good afternoon gentlemen". Without listening to the ‘but, buts’, they turned and left not only the room, but also the building without another word.
--------------------------
Willie was a nervous wreck since the meeting but Davy was cool, calm and collected. After all, he started with nothing but had everything to win if his plan came to fruition. He had every confidence that it would.
Seven days later before breakfast he received a registered letter. He opened it carefully and read it to himself. Willie strolled up and down the kitchen but kept his eyes on Davy at all times. Davy threw down the letter on the table and said not a word. "It’s bad news, isn’t it Davy? – I knew we should have gone to forty percent" Willie was almost in tears. "Maybe you are right Willie, maybe you are right" Davy replied, stood up and walked around the kitchen. "Then again Willie, you could be wrong" he added and allowed the frown on his face to disintegrate followed by the broadest smile Willie had ever seen. "We got it you so-and-so, and all for thirty percent. They have formally accepted our offer and the legal papers will be completed within two days", Davy looked as happy as Punch whilst Willie ran to the outside lavatory.
Davy made his way to the Post Office on the way to work and sent an acceptance telegram to the consortium formally accepting their offer.
Within days, several important meetings took place. One of the younger members of the working ‘team’ was promoted to overseer in the absence of Willie but work was at this stage way down their list of priorities.
They had staff meetings to arrange, sites to visit and estimates to be made. The company accountant accompanied Davy to a Merchant Bank where overdraft facilities were arranged. When the Consortium learned of this, they immediately made available to the company sufficient funds to enable them to avoid borrowing any money whatsoever.
As each current contract was completed the relevant team was moved to the new town site. Temporary accommodation had been erected which was far superior to that which they were accustomed at Mrs. O’Brien’s. A local public house that had no more than ten regular customers soon found that they were packed out to the rafters every evening with Irishmen from the site. Davy had insisted that a proper cook be employed and that the men be given the best of food. After all, he had arranged delivery from his market costermonger friend back in London.
They had purchased a further ten steam rollers and Willie had undertaken the training of the drivers. Work was well ahead of schedule in the first month. Within three months all the access roads had been completed and the actual builders were arriving in droves. Further accommodation was erected for them. Electricity mains and a gas supply had been installed and everything was proceeding to the delight of not only Davy and Willie, but also the consortium. Already they had begun to make plans for a further four satellite towns similar in all respects. DavWil Engineering had been provisionally granted the contracts. The entire scheme was now a multi-million pound project with no end in sight.
The Chief Engineer, Mr. Jones proved to be a loyal friend and an excellent civil engineer. He too lived on the site from Monday to Friday when he left early to return to his family home on the other side of London. The atmosphere was always happy even if the drinkers found the only public house overcrowded at times.
Every three weeks, Davy had designated there would be a ‘long-weekend’ with pay and all his men would be taken by train on Friday lunchtime up to London where they would create havoc among the Irish ghettos of Kilburn and Cricklewood until their return at lunchtime Monday. Willie and Davy made sure that they were at the station when they left with some unwanted advice. The men knew what they wanted and all the advice in the world would not stop them from getting it.
The two year estimated time for the contract was completed four months early earning the company almost twenty-five thousand pounds bonus. Once again, Davy shared most of it among his workers. However, as Directors, Davy and Willie took the lion’s share. They were now very wealthy young men – just coming up to their twenty-first birthdays.
To their surprise, on their return to their home on one long weekend in April, they were surprised to find Mrs. Manners telling off the maid for the state in which she found ‘her’ house. She was just about to sack her when Davy intervened. After all it had taken a long time to get someone in the first place.
Mrs. Manners then proceeded to sit down at the sitting room table and took out some very official papers. She handed a set to each of them. She then stood up and declared "This meeting of the directors of DavWil Textiles will now come to order, Mr. David Williams is in the Chair. Also present is Mr. William McLaughlin and Mrs. Davina Manners". Willie began to snigger at the first mention of her first name. However, the look on her face shamed him into silence.
She then proceeded to read the Financial Report. There were so many figures shown on it that it was making Willie’s eyes cross. Davy on the other hand merely went down to the final line where he saw the entry: Net Profit: £175,246.7s.6p. Davy then stood up and produced another bundle of papers.
"I have here preliminary papers announcing the profits from the DavWil Civil Engineering side of the business" Davy announced. "I will not bore you with the various figures other than the net profit. I can tell you that it will not be too far short of £426,750. As far as my crude estimation goes, it means that after everything is said and done, the three of us have to share the best part of £425,000 pounds. Not bad for our first real year". Much to their surprise Willie stood up and collapsed to the floor. When they managed to bring him back to the land of the living, he merely said "Am I right or wrong, but is that over £140,000 each?" "More or less Willie," answered Davy " that’s not a bad guess".
---------------------------------
Financial news, as with all aspects of money, reached the City of London Bankers and speculators. From basically a nil investment, these two Irishmen and widow had accumulated a fortune with much more to follow. The Green Eyes of the God of Envy were beginning to look in their direction from some unscrupulous men.
There were many offers to purchase the company but the directors on the advice of Davy declined them all. He had his ideas on what he intended to do in the not too distant future.
Three years later they had just completed their last but one major new town project. Davy, Willie and Mrs. Manners were now millionaires with money coming in from all directions. Davy called a meeting.
"Lady and gentleman" he began "or should I say friends. We now have more money than we will ever be able to spend in our lifetimes. I feel that it is decision time. I would like to open for discussion as to what we intend to do with the company. I for one do not wish to put it in the hands of those city slickers so I ask for your suggestions". He then sat down. Willie stood up and spoke quietly. "I am tired Davy and Mrs. Manners. I would like to go home and leave London forever". Mrs. Manners then stood up and added "I have already done so and can see the strain in both your faces. I think you should both follow Willie’s suggestion". "Yes, I agree" Davy said "but what about the company?" "Give it away, don’t sell it" came in united chorus from both Mrs. Manners and Willie.
"You realise what you are both saying?" Davy asked. "Of course Davy" Willie answered "as you said, we have enough. Lets give the linen company to the people in Banbridge and the engineering company to the workers. I think that Mr. Jones would make a good and fair boss". Mrs. Manners said nothing but had a beautiful smile on her face. "Why are you smiling Mrs. Manners?" Willie asked.
She continued to smile for a few moments then quietly spoke: "I can remember the first time that my old husband brought two young Paddy boys to our home for Saturday tea. You were two of the nicest lads I had ever come across and we secretly called you ‘our two sons’. Well I can tell you that poor old Mr. Manners would be so proud of you both and not only for what you have done, but what you are intending to do. I agree with the proposal – give everything to the workers – they earned it".
Arrangements were made to legally transfer both companies in the coming weeks. In the meantime, the two boys or should I say the two men were making their own plans.
--------------------
Six months later, at three thirty in the afternoon, on a beautiful July day, a small boy stood on the bridge overlooking the River Bann. He stood silently and watched as two men lay on the riverbank with two fishing rods pointing out into the river.
One turned to the other and said, "You know Davy. I think we should go back to London and try and get a job – this fishing is not really for me – there’s no blinking fish. I fancy getting on a Steamroller and doing some damage". "Willie" Davy replied "now if we could stock this river with plenty of brown trout, sure we would have the tourists coming in their droves. And if they did they would need somewhere to stay. How about building a hotel or a row of cottages for them to stay in or………………………."
-----------------------