All right, so it's eight o'clock and it's and being that I'm the host I think it's probably time to start So thank you everyone for coming. This is my turn to give my functional update and Was that someone just speaking no I got a hand raised though No, I don't okay Sorry about that. I'm not used to presenting on zoom Anyway, so I'm going to give it an update being that this is my first one of the of the year I'm going to recap last year and give a forward-looking plan for what I'm doing this year I shared the slides in the meeting invitation. So if you have been with issues or you just want to look at them offline you can Sort of start with a 12 month recap will use the outline that Brittany put into the Meeting designation will start off with accomplishments So for the last 12 months when since I came on board and started the the channel partner program We've onboarded 10 new channel partners. So we have we currently have 12 Total and I'll get into that in a minute We've had three new hires myself We hired someone to do marketing enablement back in November and just in January. We had Shagang join us for a technical enablement Which is really important both of those tasks are really important the marketing part because partners strive for recognition and Legitimacy in their markets a lot of times customers aren't sure if they really have an affiliation with us And if we perform joint marketing events with them, that certainly helps on the technical enablement side That's important as well because they typically will carry seven eight sometimes even ten Products in the development tool space so they can never be complete Experts out the door on our product not so they've been working for a while. They've had a bunch of training And so we need to be able to support them in their deals As well as provide them with the training for them to become self-efficient sufficient at least the beginning The channel added 35 net new names Last year which doesn't sound like a lot Except when you take into account that the vast majority of those resellers did not come on board until the last half of the year And then needed time to come up to speed. It's actually pretty good And with Francis coming on board we enabled the sales force comm partner portal So the resellers now have access or most of them anyway have access to our Salesforce comm system which means they can interact with our our sales team and our in the BDRs who sometimes pass them Leads and be able to do their own coding and other things straight from within sales force Which should certainly help with stuff moving forward So the next up on the agenda was concerns or starts off accomplishments and concerns So in the last year we off-boarded two partners, right? So I said that we We brought on 10 when we off-boarded to The first one that we off-boarded was a company called mouse off that of Korea They onboarded and off-boarded in the same year And interesting enough the biggest reason they off-boarded was because they are an Atlassian reseller as well And Atlassian told them that they needed to either stop selling get lab or Stop selling Atlassian which I took as a complete another compliment that Atlassian sees us as that big of a threat that they are Challenging their reseller in Korea to cease to sell get lab The second reseller we off-loaded was not a surprise anyone that was when disco when disco was a product-based reseller meaning that They bundled us with some of their products It was a product line that they ceased to support themselves. And so that wasn't really a surprise to anybody The other concern is is that marketing resource that we that I mentioned was a high point that we hired Well, we've lost the marketing resource in the last 12 months Which was gonna? Caused some issues and I'll bring up on the on the next slide wouldn't want to talk about blockers and help needed and the The resellers had a disappointing financial contribution from my standpoint I was wanting them to do between two and three times the amount of revenue that they did I Don't think they did all that horrible Compared to the amount of time they've been on board or the amount of support We've been able to give them but I still would have preferred them to have done much better so The next up in the gender border players are stalled and need help so where I'm stalled and and where I need help I'm stalled in the same place that the rest of the sales team is is that we don't have a lot of sales enablement collateral and again, this comes back to the fact that the resellers carry many many different products and Therefore they rely upon the crutches of having pre canned demo scripts and sell sheets and Your free formative PowerPoint presentations and so forth all lined up for them to be able to use Because if you imagine if they had to create their own for you know, 12 or more products that they wouldn't have any time to actually sell And also team growth. I spent a lot of my time doing sort of maintenance tasks And I need to add to my team to actually manage the partners are on board so I can build the program Larger and recruit more more resellers The biggest part where I need help though is is in the partner marketing enablement The the resellers are quite noisy on marketing. They do lots of marketing the local regions one of the reasons that we look for resellers in Places like Korea or South Africa or what have you is those markets are too large for us to ignore but Too small or too difficult for us to address directly And so they perform tons and tons of marketing tests in those in those regions for us on they they host meet-ups they they they do webinars to do all sorts of stuff and Right now. I we don't have a dedicated resource to help with that Which means I need to lean on about a dozen different people in the marketing organization to help me get to make these things happen And another part of that as well is I don't have a budget for some of the Things that they want to do where it doesn't overlap what we would normally do on our corporate marketing needs and and I need to I need some help with that as well That's one move on and we'll talk about goals And so by the end of 2017 I Want to be able to have complete coverage in markets in what I call partner markets Which are again those places where it is they're either too small for us to address directly or too difficult for us directly So a place like Argentina is too valuable to ignore But it's too small for us to address directly in a place like Korea or China. It's just too difficult for us to direct address directly And I want to be able to say that we have a competent reseller in each of those markets Before the end of the year and we're actually the vast majority of the way there And I want to hire a channel marketing manager to help them with their opportunities and manage them through their their requests And everything that they need so that I can spend time on Recruiting partners in other areas as well as both the program I also want to implement a badging program for technical expertise So I mentioned before that resellers have Validity issues right they they need to prove themselves valid to their market They need to to show that they are legitimate and one of the ways to show that they are legitimate is To show that they have been blessed by us in some way Right and and a good way to do that which also helps preserve our brand Is to ask them to participate in a technical badging program meaning they go through A technical training by us To show that they are competent to perform Consulting and other things and support and what have you along with our product And that they actually give back to us by Contributing to our source And so that's one of the reasons that we hired Xiao Gang at the beginning of the year is he built a badging program for his previous company And he's going to help build that moving forward and that should Actually also help enable us to recruit a whole slew of a different style of partner called a service reseller And so before I was talking about the market resellers and market resellers are like I said Based in locations or verticals that are difficult for us to address Service resellers are different Service resellers make most of their money not necessarily selling product But by selling their services Most of it last season's resellers around the world fall into that category They're they make their money selling consulting around Atlassian And we don't really have our own direct consulting teams. As a matter of fact it we We are sort of unable to offer those services for for any price to the vast majority of our customers who want help integrating with third party solutions converting from wherever they were before or You know Doing a full-blown CICD Integration and implementation and so there is a market for us to have A lot of companies out there who are technically expert in our product to be able to do these things And those guys if they're going to make money off of selling services around GitLab They are very well motivated to make sure that lots of customers have GitLab And so if we give them a small margin and we give them the training and the backing They will go out and push to all of their customers GitLab so that way they can get the service revenue And having a badging program is critical to be able to do that I also want to be able to enable government channels with by having fulfillment resellers meaning that people who are on the government schedules and I actually Have come close to meeting this right now Our reseller in colorado release team just managed to secure a gsa listing Which means that now it makes it easier for us government agencies to purchase GitLab If they purchase them through release team release team might not be Large enough to handle where we think that market is going to go But it gives us a a solution for that right now The other thing I want to be able to do is add a bunch of new product-based resellers What I mean by our product-based resellers is that's a reseller that makes most of their money Selling their own product and selling GitLab helps them sell that product So if you think about pivotal and perforce those are two great examples, right? They both resell GitLab as a means to help them sell their own product And they tend to be pretty low maintenance It's not a whole lot of of work you have to do once you get them on board which makes them Really worthwhile And currently right now I have three product-based resellers that I'm that I'm talking to that I hope to bring on before the end of the year One of them before the end of this quarter They won before the end of this quarter is a company named Contact Software They do a product life cycle management solution Another one is Swisscom and the third one is PTC PTC is also a PLM solution Swisscom wants to do a hosted GitLab as a service sort of like a GitLab.com for paid for Another goal I have for the end of the year is to make sure that the channel is fully trained As a matter of fact before the end of this quarter I want to have them have gone through basic training to begin with and I'll get more into that in a minute A fully trained channel is a channel that is fully equipped to sell our product and support our product and to make more revenues And hopefully all this will contribute to substantial revenues to our company's bottom line So for Q1, I sort of want to focus on some channel enablement I know Amara's got a bunch of collateral She's getting ready to give us and my friend she just gave us a slide deck the other day I want to make sure that all of this is available to the channel and they are trained on how to use it And and and exactly what it is. That's important because it's hard for them to conduct a lot of Sales activities without my intervention if they don't have that So currently whenever they have a decent size deal and they need someone to give a slideshow I get a phone call and I get up in the middle of the night and I give a A slideshow to a customer and that that's not scalable and we need to get these materials in their hands and I'm trained to use it We also need to Promote them which is part of the legitimacy, right? Currently only three of our resellers have had a press release saying that they are a reseller We need to fix that every time we sign a reseller then you're a press release Four of our resellers have had a campaigns In their territories to say hey, we now have a partner in this territory You might want to want to contact them. We need to do that for all of them And we also need to to plan a launch event, which is sort of like a Meetup on steroids where they invite all of their Local customers and we invite all of our local names to a meetup And someone from git lab shows up and we talk about why we chose that partner and how valuable they are and and one of Our mutual customers talks about what the reseller What value the reseller brought to them and how git lab solved the problem of theirs And that's a that's sort of a a big event to kick start them and get a lot of people interested in git lab because the more Resources they devote to git lab at the beginning of their relationship the more they will continue to devote as time moves on Um, I also need to with Francis's help do a bunch more salesforce.com automation We already have it on a bunch of automation to keep them on top of their open opportunities and their leads There's a there's a bit more we need to do but that's going along Really well I also want to grow our reseller base I want to add Another product based reseller and that is probably going to be contact that I mentioned before they're they Are rare to go and want to have us launch for for their q2 And I want to add two new market based resellers this this quarter. So those are in territories that are hard for us to address I have several that i'm in talks with There's a contract out to a reseller in taiwan And it looks likely i'm going to have one in argentina as well Maybe even before the end of the month. So i may be able to exceed that goal for q1 The u.s. Government fulfillment partner like I said, we've already got a release team on board for that And I know chad's been talking to some large organizations that do strictly just fulfillment It may be able to make that a bit easier And I want to begin the process of interviewing a channel manager to manage those Market-based resellers so that I can then concentrate on building the program and looking for more resellers So we've gone into q2 In q2, I hope to launch the reseller badging program That is that again the program where we're going to sort of certify the resellers on their technical expertise And chad is is hard at work in figuring out What existing trainings we have that we can use to leverage and what new things need to be put in and what sort of structure needs to be put in place In order to have that work I'd also like to do three of those launch events that I mentioned earlier And and be able to get that legitimacy campaign started One of the things I wanted to do for the resource as well is to have a quarterly Get lab university style event There's no way I could get them to watch every get lab university video. We have that comes out every single week but if we Went through what we did in a quarter and pulled out some of the highlights and then did another get lab university session Targeted at the resellers I think it would really help their understanding of our product and keep them motivated to To sell us as well as keep us on the top of their mind, which is really really important And as part of that badging program that we want to launch by the end of the quarter I want to have at least three of them badged Badging is different from training. It's going to take a lot more effort on their part Also, I want to have At the end of q2 three more market resellers on top of what we already have And being that we have the badging program on board I want to start recruiting service resellers and so I want to have at least four of them And I want to add that second product based reseller And for the second half of Of 2017 More of the same really I want to have more of the launch events. I want to badge more of the resellers And I want to add a whole bunch more resellers a lot more service based resellers because They get real low margins and they We can afford to have lots and lots of them all over the place Um And again, I want to add another product based reseller because this as time goes on those will prove Really easy To manage and move forward


This study found that percutaneous aspiration of breast abscess is more successful than incision and drainage in terms of early restoration of breastfeeding. The success rate of percutaneous aspiration was higher than that of incision and drainage, with a statistically significant difference between the two methods. This article was authored by Noor Hussein, Imran Khan, Tanwer Ahmed, and others.


Prologue of Madame Midas This is a LibriVox recording. All LibriVox recordings are in the public domain. For more information or to volunteer, please visit LibriVox.org Madame Midas by Fergus Hume Prologue, cast up by the sea A wild bleak looking coast with huge water-worn primatries jutting out into the sea, daring the tempestuous fury of the waves, which dashed furiously in sheets of seething foam against the iron rocks. Two of these headlands ran out for a considerable distance, and at the base of each ragged, cruel-looking rocks stretched still further out into the ocean, until they entirely disappeared beneath the heavy waste of waters, and only the sudden line of white foam every now and then, streaking the dark green waves, betrayed their treacherous presence to the idle eye. Between these two headlands, there was about half a mile of yellow sandy beach on which the waves rolled with a dull roar, fringing the wet sands with many-coloured reefs of seaweed and delicate shelves. At the back, the cliffs rose in a kind of semi-circle, black and precipitous, to the height of about a hundred feet, and flocks of white seagulls who had their nests therein were constantly circling round, or flying seaward with the steadily expanded wings and discordant cries. At the top of these inhospitable-looking cliffs, a line of pale green betrayed the presence of vegetation, and from fence it spread inland into vast rolling pastures, ending far away at the outskirts of the bush, above which could be seen giant mountains with snow-covered ranges. Overall, this strange contrast of savage arid coast and peaceful upland, there was a glaring red sky, not the delicate, evanescent pink of an ordinary sunset, but a fierce, angry crimson, which turned the wet sands and dark expanse of ocean into the colour of blood. Far away westward, where the sun, a molten ball of fire, was sinking behind the snow-cloud peaks, frown long lines of gloomy clouds, like prison bars through which the sinking orb glowed fiercely. Rising from the east to the zenith of the sky was a huge black cloud bearing a curious resemblance to a gigantic hand, the long-leaved fingers of which were stretched threateningly out as if to grasp the land and drag it back into the lurid sea of blood. Altogether a cruel, weird-looking scene, fantastic, unreal and bizarre, as one abdures marvellous conceptions. Suddenly on the red waters there appeared a black speck, rising and falling with the restless waves, and ever-during nearer and nearer to the gloomy cliffs and sandy beach. When within a quarter of a mile of the shore the speck resolved itself into a boat, a mare's shallop painted a dingy white and much battered by the waves as it tossed lightly on the crimson waters. It had one mast and a small sail all torn and patched, which by some miracle held together, and swelling out to the wind drew the boat nearer to the land. In this frail craft were two men, one of whom was kneeling in the prow of the boat, shading his eyes from the sunlight with his hands and gazing eagerly at the cliffs, while the other sat in the centre with bowed head, in an attitude of sullen resignation, holding the straining sail by a stout rope twisted round his arm. Neither of them spoke a word till within a short distance of the beach when the man at the lookout arose, tall and gaunt, and stretched out his hands to the inhospitable-looking coast with a harsh, exulting laugh. At last he cried in a hoarse, strained voice, and in a foreign tongue, freedom at last. The other man made no comment on the south burst of his companion, but kept his eyes steadfastly on the bottom of the boat, where lay a small barrel and a bag of mouldy biscuits, the remnants of their provisions on the voyage. The man who had spoken evidently did not expect an answer from his companion, for he did not even turn his head to look at him, but stood with folded arms gazing eagerly ahead, until, with a sudden rush, the boat drove up high and dry on the shore, sending him head over heels into the wet sand. He struggled to his feet quickly, and, running up the beach a little way, turned to see how his companion had fared. The other had fallen into the sea, but had picked himself up, and was easily engaged in ringing the water from his coarse clothing. There was a smooth, water-worn boulder on the beach, and seeing this, the man who had spoken went up to it and sat down thereon, while his companion evidently had a more practical turn of mind, collected the stale biscuits which had fallen out of the bag. Then, taking the barrel carefully on his shoulder, walked up to where the other was sitting, and threw both biscuits and barrel at his feet. He then flung himself wearily on the sand, and picking up a biscuit begun to munch at steadily. The other drew a tin panicon from the bosom of his shirt, and nodded his head towards the barrel, upon which the eater laid down his biscuit, and, taking up the barrel, threw the bum, and let a few drops of water trickle into the tin dish. The man on the boulder drunk every drop, then threw the panicon down on the sand, while his companion, who had exhausted the contents of the barrel, looked wolfishly at him. The other, however, did not take the slightest notice of his friend's lowering looks that begun to eat a biscuit and look around him. There was a strong contrast between these two waves of the sea, which the ocean had just thrown up on the desolate coast. The man on the boulder was a tall, slightly-built young fellow, apparently about thirty years of age, with leonine masses of reddish-coloured hair, and a short, stubbly beard of the same tint. His face pale and attenuated by famine, looked sharp and clever, and his eyes, forming a strong contrast to his hair, were quite black, with thin, delicately-drawn eyebrows above them. They skintillated with a peculiar light, which, though not offensive, yet gave anyone looking at him an uncomfortable feeling of insecurity. The young man's hands, though hardened and discoloured, were yet finally formed, while even the coarse, heavy boots he wore could not disguise the delicacy of his feet. He was dressed in a rough blue suit of clothes, all torn and much stained by sea water, and his head was covered with a red cap of war work, which rested lightly on his tangled masses of hair. After a time he tossed aside the biscuit he was eating and looked down at his companion with a cynical smile. The man at his feet was a rough, heavy-looking fellow, squarely and massively built, with black hair and a heavy beard of the same somber hue. His hands were long and sinewy, his feet, which were bare, large and ungainly, and his whole appearance was that of a man in a low station of life. No one could have told the colour of his eyes, for he looked obstinately at the ground, and the expression of his face was so sullen and forbidding that altogether he appeared to be an exceedingly unpleasant individual. His companion eyed him for a short time in a cool, calculating manner, and then rose painfully to his feet. So he said rapidly in French, waving his hands towards the frowning cliffs. So, my Pierre, we are in the land of promise, though I must confess, with a disparaging shrug at the shoulders, it certainly does not look very promising.   It has carried us all the way from New Caledonia, that hell upon earth, and landed us safely in what may turn out paradise. We must not be ungrateful to the bridge that carried us over, eh, my friend? The man addressed as Pierre nodded in assent, then pointed towards the boat. The other looked up, and saw that the tide had risen, and that the boat was drifting slowly away from the land. It goes, he said courly, back again to its proper owner, I suppose. Well, let it. We have no further need of it. For like Caesar, we have now crossed the Rubicon. We are no longer convicts from the French prison, my friend, but shipwreck sailors, you hear? With a sudden scintillation from his black eyes, shipwreck sailors, and I will tell the story at the wreck. Luckily I can depend on your discretion, as you have not even a tongue to contradict, which you wouldn't do if you had. The dumb man rose slowly to his feet, and pointed to the cliffs, frowning above them. The other answered his thought, with a careless stroke of the shoulders. We must climb, he said lightly, and let us hope the top will prove less inhospitable than this place. Where we are, I don't know, except that this is Australia. There is gold here, my friend, and we must get our share of it. We will match our gallic wit against these English fools, and see who comes off best. You have strength, I have brains, so we will do great things. But laying his hand impressively on the other's breast, no quarter, no yielding, you see.  You don't know, Belzec, my friend, went on the young man in a conversational tone, or I would tell you that, like Restonac, war is declared between ourselves and society, but if you have not the knowledge you have the will, and that is enough for me. Come, let us make the first step towards our wealth.  The rain and wind had been at work on this promontory, and their combined action had broken off great messes of rock, which lay in rugged confusion at the base. This offered painful but secure foothold, and the two adventurers with much labour, for they were weak with the privations endured on the voyage from New Caledonia, managed to climb halfway up the cliff when they stopped to take breath and look around them. They were now in a perilous position, for hanging as they were on a narrow ledge of rock midway between earth and sky, the least slip would have cost them their lives. The great mess of rock which frowned above them was nearly perpendicular, yet offered here and there certain facilities for climbing, though to do so looked like certain death. The men, however, were quite reckless, and knew if they could get to the top they would be safe, so they determined to attempt the rest of the ascent. As we have not the wings of eagles, friend Pierre, said the younger man glancing around, we must climb where we can find foothold. God will protect us, if not with a sneer, the devil always looks after his own. He crept along the narrow ledge and scrambled with great difficulty into a niche above, holding on by the weeds and sparse grass which grew out of the crannies of the barren craig. Followed by his companion he went steadily up, clinging to projecting rocks, long trails of tough grass, and anything else he could hold on to. Every now and then some sea bird would dash out into their faces with wild cries and nearly cause them to lose their foothold in the sudden start. Then the herbage began to get more luxurious and the clip to the slope is an easy incline, which made the latter part of their ascent much easier. At last, after half an hour's hard work, they managed to get to the top and threw themselves breathlessly on the short dry grass which fringed the rough cliff. Lying their half, feinting with fatigue and hunger, they could hear, as in a confused dream, the drowsy thunder at the waves below, and the discord and cries of the seagulls circling round their nests, to which they had not yet returned. The rest did them good, and in a short time they were able to rise to their feet and survey the situation. In front was the sea, and at the back the grassy, undiluting country, dotted here and there with clumps of trees, now become in feint and indistinct in the rapidly falling shadows of the night. They could also see horses and cattle moving in the distant fields, which showed that there must be some human habitation near, and suddenly from a far distant house which they had not observed shone a bright light, which became to these weary waves of the ocean a star of hope. They looked at one another in silence, and then the young man turned towards the ocean again. Behind, he said, pointing to the east, lies the French prison and two ruined lives, yours and mine, but in front, swinging round to the rich fields, there is fortune, food and freedom. Come, my friend, let us follow that light, which is our star of hope, and who knows what glory may await us. The old life is dead, and we start our lives in this new world with all the bitter experiences of the old to teach us wisdom. Come!  The sun disappeared behind the snowy ranges. Night drew a gray veil over the sky as the red light died out, and here and there the stars were shining. The sea birds sought their nests again and ceased their discordant cries. The boat which had brought the adventurers to shore drifted slowly out to sea, while the great black hand that rose from the eastward stretched out threateningly towards the two men, tramping steadily onward through the dewy grass, as though it would have drawn them back again to the prison from whence they had so miraculously escaped. End of Prologue Part 1, Chapter 1 of Madame Midas This Libra Box recording is in the public domain. Madame Midas, by Fergus Hume. Part 1, Chapter 1, The Pectulus Claim In the early days of Australia, when the gold fever was at its height and the marvellous Melbourne of today was more like an enlarge camp than anything else, there was a man called Robert Curtis, who arrived in the new land of Opha with many others to seek his fortune. Mr. Curtis was a good family, but having been expelled from Oxford for holding certain unorthodox opinions, quite at variance with the accepted theological tenets of the university, he had added to his crime by marrying a pretty girl, whose face was a fortune, and who was born, as the story books say, a poor but honest parents. Poverty and honesty, however, were not sufficient recommendations in the eyes of Mr. Curtis Sr., to excuse such a match, so he promptly followed the president set by Oxford and expelled his son from the family circle. That young gentleman and his wife came out to Australia filled with ambitious dreams of acquiring a fortune and then of returning to heap coals of fire on the heads of those who had turned them out. These dreams, however, were destined, never to be realised, for within a year after their arrival in Melbourne, Mrs. Curtis died giving birth to a little girl, and Robert Curtis found himself once more alone in the world with the encumbrance of a small child. He, however, was not a man who wore his heart on his sleeve and did not show much outward grief, though no doubt he sorrowed deeply enough for the loss of the pretty girl, for whom he had sacrificed so much. At all events he made up his mind at once what to do, so placing his child under the care of an old lady, he went to Ballarat and set to work to make his fortune. While there his luck became proverbial and he soon found himself a rich man, but this did not satisfy him. For being of the far-seeing nature, he saw the important part Australia would play in the world's history. So with the gold won by his pick he bought land everywhere and especially in Melbourne, which was even then becoming metropolitan. After fifteen years of a varied life he returned to Melbourne to settle down and found that his daughter had grown up to be a charming young girl, the very image of his late wife. Curtis built a house, went in for politics and soon became a famous man in his adopted country. He settled a large sum of money on his daughter absolutely, which no one, not even her future husband, could touch and introduced her to society. Miss Curtis became the belle of Melbourne and her charming face, together with the more substantial beauties of wealth, soon brought crowds of suitors around her. Her father, however, determined to find a husband for her whom he could trust and was looking for one when he suddenly died of heart disease, leaving his daughter an orphan and a wealthy woman. After Miss Curtis had been buried by the side of his dead wife, the heiress went home to a richly furnished house and after passing a certain period in mourning, engaged a companion and once more took her position in society. Her suitors, numerous and persistent at those of penelope, soon returned to her feet and she found she could choose a husband from men of all kinds, rich and poor, handsome and ugly, old and young. One of these, a penniless young Englishman called Randolph Villiers, paid her such marked attention that in the end Miss Curtis, contrary to the wishes of her friends, married him. Miss Villiers had a handsome face and figure, a varied and extensive wardrobe and a bad character. He, however, suppressed his real tastes until he became the husband of Miss Curtis and holder of the purse, for such was the love his wife bore him that she unhesitatingly gave him full control of her property, accepting that which was settled on herself by her father, which was, of course, beyond marital control. In vain her friends urged some settlement should be made before marriage. Miss Curtis argued that to take any steps to protect her fortune would show a want of faith in the honesty of the man she loved, so he went to the altar and reversed the marriage service by endowing Mr. Randolph Villiers with all her worldly goods. The result of this blind confidence justified the warnings of her friends. For as soon as Villiers found himself in full possession of his wife's fortune, he immediately proceeded to spend all the money he could lay his hands on. He gambled away large sums at his club, bettered extensively on the turf, kept open house and finally became entangled with the lady whose looks were much better than her morals and whose capacity for spending money so far exceeded his own that in two years she completely ruined him. Mrs. Villiers put up with this conduct for some time as she was too proud to acknowledge she had made a mistake in her choice of a husband. But when Villiers, after spending all her wealth in righteous living, actually proceeded to ill-treat her in order to force her to give up the money her father had settled on her, she rebelled. She tore off her wedding ring, threw it at his feet, pronounced his name, and went off to Valorat with her old nurse and the remnants of her fortune. Mr. Villiers, however, was not displeased at this step. In fact, he was rather glad to get rid of a wife who could no longer supply him with money and whose presence was a constant rebuke. He sold up the house and furniture and converted all available property into cash, which cash he then converted into drink for himself and jewelry for his lady friend. The end soon came to the fresh supply of money and his lady friend went off with his dearest companion to whose purse she had taken a sudden liking. Villiers, deserted by all his acquaintances, sunk lower and lower in the social scale and the once brilliant butterfly of fashion became a billiard marker, then a tout at races and finally a bar loafer with no visible means of support. Meantime Mrs. Villiers was prospering in Valorat and gaining the respect and good opinion of everyone while her husband was earning the contempt of not only his former friends, but even of the creatures with whom he now associated. When Mrs. Villiers went up to Valorat after a short but brilliant life in Melbourne, she felt crushed. She had given all the wealth of her girlish affection to her husband and had endowed him with all kinds of chivalrous attributes only to find out as many a woman has done before and since that her idol had feet of clay. The sudden shock of the discovery of his baseness altered the whole of her life and from being a bright, trustful girl she became a cold suspicious woman who disbelieved in everyone and in everything. But she was too restless and ambitious a nature to be content with an idle life and although the money she still possessed was sufficient to support her in comfort yet she felt that she must do something if only to keep her thoughts from dwelling on those bitter years of married life. The most obvious thing to do in Valorat was to go in for gold mining and chance having thrown in her way a mate of her father's. She determined to devote herself to that being influenced in her decision by the old digger. This man by name Archibald Macintosh was a shrewd, hard-headed scotchman who had been in Valorat when the diggings were in the height of their fame and who knew all about the lie of the country and where the richest leads had been in the old days. He had told Mrs Villiers that her father and himself had worked together on a lead then known as the Devil's Sleed which was one of the richest ever discovered in the district. It had been found by five men who had agreed with one another to keep silent as to the richness of the lead and were rapidly making their fortunes when the troubles of the Eureka Stockade intervened. And in the encounter between the miners and the military, three of the company working the lead were killed and only two men were left who knew the whereabouts of the claim and the value of it. These were Macintosh and Curtis who were the original holders. Mr Curtis went down to Melbourne and, as previously related, died of heart disease so the only man left of the five who had worked the lead was Archibald Macintosh. He had been too poor to work at himself and, having failed to induce any speculator to go in with him to acquire the land, he had kept silent about it only staying up at Ballarat and guarding the claim lest someone else should chance on it. Fortunately the place where it was situated had not been renowned for gold in the early days and it had passed into the hands of a man who used it as past your land, the land of the wealth which lay beneath. When Mrs Villiers came up to Ballarat this man wanted to sell the land as he was going to Europe so acting under the urgent advice of Macintosh she sold out of all the investments which she had and purchased the whole tract of country where the old miner assured her solemnly the devil's lead was to be found. Then she built a house near the mine and taken her old nurse Selena Sprotz an Archibald Macintosh to live with her sunk a shaft in the place indicated by the letter. She also engaged miners and gave Macintosh full control over the mine while she herself kept the books paid the accounts and proved herself to be a first class woman of business. She had now been working the mine for two years but as yet had not been fortunate enough to strike the lead. The gutter however proved remunerative enough to keep the mine going, pay all the men and support Mrs Villiers herself so she was quite content to wait the tune should smile on her and the long looked for devil's lead turned up. People who had heard of her taking the land were astonished at first and disposed to scoff but they soon begun to admire the plucky way in which she fought down her ill luck for the first year of her venture. All at once matters changed she made a lucky speculation in the share market and the patchless claim began to pay. Mrs Villiers became mixed up in mining matters and bought and sold on change with such foresight and promptitude, abaction that she soon begun to make a lot of money. Stockbrokers are not as a real romantic but one of the fraternity was so struck with her persistent good fortune that he christened her metamidus after that great king whose touch turned everything into gold. This name tickled the fancy of others and in a short time she was called nothing but metamidus all over the country which title she accepted complacently enough as a forecast of her success in finding the devil's lead which idea had grown into a mania as it already was with her faithful henchman, Macintosh. When Mr Villiers therefore arrived in Ballarat he found his wife universally respected and widely known as metamidus so he went to see her expecting to be kept in luxurious ease for the rest of his life. He soon however found himself mistaken that his wife told him plainly she would have nothing to do with him and that if he dared to show his face at the pactulus claim she would have him turned off by her men. He threatened to bring the law into force to make her live with him but she laughed in his face and said she would bring a divorce suit against him if he did so and as Mr Villiers character could hardly bear the light of day he retreated leaving madam in full possession of the field he stayed however in Ballarat and took up stock-broken living a kind of hand-to-mouth existence bragging of his former splendor and swearing at his wife for what he was pleased to call her cruelty every now and then he would pay a visit to the pactulus and try to see her but Macintosh was a vigilant guard and the miserable creature was always compelled to go back to his bohemian life without accomplishing his object of getting money from his wife he had deserted people talked of course but madam did not mind she had tried married life and had been disappointed her old ideas of life in human nature had passed away in short the girl who had been Bell of Melbourne as Miss Curtis and Mrs Villiers had disappeared and the stern clever cynical woman who managed the pactulus claim was a new being called Madam Midas End of Part 1 Chapter 1 Part 1 Chapter 2 of Madam Midas This LibriVox recording is in the public domain Madam Midas by Fergus Hume Part 1 Chapter 2 Slivers Everyone has heard of the oldest inhabitant that wonderful piece of antiquity with white hair, gorillas tongue and cast iron memory who was born with the present century very often before it he remembers George III the Battle of Waterloo and the invention of the steam engine but in Australia the oldest inhabitant is localised and rechristened an early settler he remembers Melbourne before Melbourne was he distinctly recollects sailing up the Yarra Yarra with Batman and talks wildly about the then crystalline purity of its waters an assertion which we of today feel is open to considerable doubt his wealth is unbounded his memory marvellous and his acquaintances of a somewhat mixed character comprising as they do a series of persons ranging from a member of parliament down to a larrican Ballarat no doubt possesses many of these precious pieces of antiquity hidden in obscure corners but one especially was known not only in the Golden City but throughout Victoria his name was Slivers plain Slivers as he said himself and from a physical point of view he certainly spoke the truth what his Christian name was no one ever knew he called himself Slivers and so did everyone else without even an esquire or a mister to it neither a head nor a tail to add dignity to the name Slivers was as well known in Sturt Street and at the corner as the town clock and his tongue very much resembled that timepiece in as much as it was always going he was a very early settler in fact so remarkably early that it was currently reported the first white men who came to Ballarat found Slivers had already taken up his abode there and lived in friendly relations with the local blacks he had achieved this amicable relationship by the trifling loss of a leg an arm and an eye all of which portions of his body were taken off the right side and consequently gave him rather a lopsided appearance but what was left of Slivers possessed an abundant vitality and it seemed probable he would go on living in the same damaged condition for the next 20 years the Ballarat folk were fond of pointing him out as a specimen of the healthy climate but this was rather a flight of fancy as Slivers was one of those exasperating individuals who if they lived in a swamp or a desert would still continue to feel their digestions good and their lungs strong Slivers was reputed rich an Arabian knight like stories were told of his boundless wealth but no one ever knew the exact amount of money he had and as Slivers never volunteered any information on the subject no one ever did know he was a small wise and looking little man who usually wore a suit of clothes a size too large for him wherein scandal mongers avert his body rattled like a dried pea in a pod his hair was white and fringed the lower portion of his yellow little scalp in a most deceptive fashion with his hat on, Slivers looked 60 take it off and his bald head immediately added 10 years to his existence his one eye was bright and sharp of a greyish colour and the loss of the other was replaced by a greasy black patch which gave him a sinister appearance he was cleaned, shaved and had no teeth but not withstanding this font his lips gripped the stem of his long pipe in a wonderfully tenacious and obstinate manner he carried on the business of a mining agent and knowing all about the country and the intricacies of the mines he was one of the cleverest speculators in Ballarat the office of Slivers was in Sturt Street in a dirty, tumble-down cottage wedged between two handsome modern buildings it was a remnant of old Ballarat which had survived the rage for new houses and highly ornamented terraces Slivers had been offered money for that rickety little shanty but he declined to sell it a very that as a snail grew to fit his house his house had grown to fit him so there it stood, a dingy shingle roof overgrown with moss a quaint little porch and two numerously pained windows on each side on top of the porch a signboard done by Slivers in the early days and looking like it bore the legend the door did not shut something was wrong with it so it always stood ajar in a hospitable sort of manner entering this a stranger would find himself in a dark glow roofed passage with a door at the end leading to the kitchen another on the right leading to the bedroom and a third on the left leading to the office where most of Slivers' indoor life was spent he used to stop here nearly all day doing business with the small table before him covered with script and the mantelpiece behind him covered with specimens of quartz all labelled with the name of the place whence they came the ink stand was dirty the ink thick and the pens rusty yet in spite of all these disadvantages Slivers managed to do well and make money he used to recommend men to different minds round about and whenever a manager wanted men or new hands wanted work they took themselves off to Slivers and were sure to be satisfied there consequently his office was nearly always full either a people on business or casual acquaintances dropping in to have a drink Slivers was generous in the whiskey line or to pump the old man about some new mind a thing which no one ever managed to do when the office was empty Slivers would go on sorting the script on his table drinking his whiskey or talking to Billy now Billy was about as well known in Ballarat as Slivers and was equally as old and guerrillas in his own way he was one of those large white yellow crested cockatoos who in their captivity passed their time like galley slaves chained by one leg Billy however never submitted to the indignity of a chain he mostly sat on Slivers' table or on his shoulder scratching his pole with his black claw or chattering to Slivers in a communicative manner people said Billy was Slivers' evil spirit and as a matter of fact there was something uncanny in the wisdom of the bird he could converse fluently on all occasions and needed no drawing out in as much as he was always ready to exhibit his power of conversation he was not a pious bird belonging to Slivers he could hardly be expected to be and his language was redolent at Billings Gate so Billy being so clever was quite a character in his way and seated on Slivers' shoulder with his black bead of an eye watching his master writing with the rusty pen they looked a most unholy pair the warm sunlight poured through the dingy windows of the office and filled the dark room with the sort of somber glory the atmosphere of Slivers' office was thick and dusty and the sun made long beams of light through the heavy air Slivers had pushed all the script and loose papers away and was writing a letter in the little clearing caused by their removal on the old fashion in stand was a paper full of grains of gold and on this the sunlight rested making it glitter in the obscurity of the room Billy seated on Slivers' shoulder was astonished at this and inspired by a spirit of adventure he climbed down and waddled clumsily across the table to the ink stand where he seized a small nugget in his beak and made off with it Slivers looked up from his writing suddenly so being detected Billy stopped and looked at him still carrying the nugget in his beak Dropit said Slivers severely in his rasping little voice Billy pretended not to understand and after eyeing Slivers for a moment or two resumed his journey Slivers stretched out his hand for the ruler where upon Billy becoming alive to his danger dropped the nugget and flew down off the table with a discordant shriek devil devil devil screen this amiable bird flopping up and down on the floor you're a liar you're a liar Pickles having delivered himself at this bad language Billy waddled to his master's chair and climbing up by the aid of his claws and beak soon established himself in his old position Slivers however was not attending to him as he was leaning back in his chair drumming in an absent sort of way with his lean fingers on the table his cork arm hung down limply and his one eye was fixed on a letter lying in front of him this was a communication from the manager at the patchless mine requesting Slivers to get him more hands and Slivers thoughts had wandered away from the letter to the person who wrote it and from Lentz to Madame Midas she's a clever woman observed Slivers at length in amusing sort of tone and she's got a good thing on in that claim if she only strikes the lead devil said Billy once more in a harsh voice exactly answered Slivers the devil's lead oh lord what a feel I was not to have coloured that ground before she did but that infernal Macintosh never would tell me where the place was never mind I'll even with him yet curse him his expression of face was not pleasant as he said this and he grasped the letter in front of him in a violent way as if he were wishing his long fingers around the writer's throat tapping with his wooden leg on the floor he was about to recommence his musings when he heard a step in the passage and the door of his office being pushed violently open a man entered without further ceremony and flung himself down on a chair near the window fire said Billy on seeing this abrupt entry tells your mother Ballarat and Bendigo Bendigo and Ballarat the newcomer was a man short and powerfully built dressed in a shabby gentile sort of way with a massive head covered with black hair heavy side whiskers and moustache and a clean shaved chin which had that blue appearance common to very dark men who shaved his mouth that is as much as could be seen of it under the drooping moustache was weak and undecided and his dark eyes so shifty and restless that they seemed unable to meet as steady gaze but always looked at some inanimate object that would not stare them out of countenance well Mr Randolph Billy is moved slivers after contemplating his visitor for a few moments how's business infernally bad retorted Mr Billy is pulling out a cigar and lighting it I've lost 20 pounds on those Moscow shares more Phil you replied slivers courteously swinging round in his chair so as to face Billy is I could have told you the mine was no good but you will go on your own bad judgment it's like getting blood out of a stone to get tips from you ground vileers with a sulky air come now old boy in a cajoling manner tell us something good I'm nearly stone broke and I must live I'm hanged if I see the necessity malignantly returned slivers unconsciously quoting Voltaire but if you do want to get into a good thing yes yes said the other eagerly bending forward get an interest in the pactulus and the agreeable old gentleman leaned back and laughed loudly in a raucous manner at his visitors discomforted look you ass hissed Mr Billy is between his clothes teeth you know as well as I do that my infernal wife don't look at me ho ho laughed the cockatoo raising his yellow crest in an angry manner devil take her rather I wish he would muttered villas fervently then with an uneasy glance at Billy who sat on the old man's shoulder complacently ruffling his feathers he went on I wish you'd screw that bird's neck slivers he's too clever by half slivers paid no attention to this but taking Billy off his shoulder placed him on the floor then turned to his visitor and looked at him fixately with his bright eye in such a penetrating manner that villas felt it go through him like a gimlet I hate your wife said slivers after a pause why the juice should you retorted villas sulkingly you ain't married to her I wish I was replied slivers with a chuckle a fine woman my good sir why if I was married to her I wouldn't sneak away whenever I saw her I'd go up to Pactila's claim and there I'd stay it's easy enough talking retorted villas crossly but you don't know what a theme she is why do you hate her because I do retorted slivers I hate her I hate Macintosh the whole billing of them they've got the Pactila's claim and if they find the devil's lead they'll be millionaires well said the other quite unmoved all Ballarat knows that much but I might have had it shrieked slivers getting up in an excited manner and stumping up and down the office I knew Curtis Macintosh and the rest were making their pile but I couldn't find out where and now they're all dead but Macintosh and the prize has slipped through my fingers devil take them devil take them echoed the cockatoo who had climbed up again on the table and contemplated at his master why don't you ruin your wife you feel said slivers turning vindictively on Villas you ain't going to let her have all the money while you are starving are you how the deuce am I to do that ask Villas sulkingly relighting his cigar get the whip hand of her snulled slivers viciously out if she's in love and threatened to divorce her if she doesn't go harms there's no chance of her having any lovers retorted Villas she's a piece of ice ice melts replied slivers quickly wait till Mr. Wright comes along and then she'll begin to regret being married to you and then well you'll have the game in your own hands the wicked old man rubbing his hands oh he cried spinning round on his wooden leg it's the lovely idea wait till we meet Mr. Wright just wait and he dropped into his chair quite overcome by the state of excitement he had worked himself into if you've quite done with those gymnastics my friend said a soft voice near the door perhaps I may enter both the inmates of the office looked up at this and saw that two men were standing at the half open door one an extremely handsome young man of about 30 dressed in a neat suit a blue surge and wearing a large white wide awake hat with the bird's eye handkerchief twisted rounded his companion was short and heavily built dressed somewhat the same but with his black hat pulled down over his eyes coming ground slivers angrily when he saw his visitors what the devil do you want work said the young man advancing to the table we are new arrivals in the country and we're told to come to you to get work I don't keep a factory snarled slivers leaning forward I don't think I would come to you if you did retorted the stranger coolly you would not be a pleasant master either to look at or to speak to filly is laughed at this and slivers stared dumbfounded at being spoken to in such a manner devil broken billy rapidly you're a liar devil those I presume master sentiments towards me said the young man bowing gravely to the bird but as soon as he recovers the use of his tongue I trust he will tell us if we can get work or not slivers was just going to snap out a refusal when he caught sight of Macintosh's letter on the table and this recalled to his mind the conversation he had with Billius he was a young man handsome enough to make any woman falling up with him and who moreover had a clever tongue in his head all slivers animosity revived against Madam Midas as he thought of the devil's lead and he determined to use this young man as a tool to ruin her in the eyes of the world with these thoughts in his mind he drew a sheet of paper towards him and dipping the rusty pen in the thick ink prepared to question his visitors as to what they could do with a view to sending them out to the pactulus claim names he asked grasping his pen firmly in his left hand mine said the stranger bowing van der loop my friends Pierre Lemaire both French slivers scrawled this down in the series of black scratchers which did duty with him for writing where do you come from was his next question the story said Montseua van der loop with Swarbertie is too long to repeat at present but we came today from Melbourne what kind of work do you do are slivers sharply anything that turns up retorted the Frenchman I was addressing your companion sir not you snow slivers turning viciously on him I have to answer for him replied the young man coolly slipping one hand into his pocket and leaning up against the door in a negligent attitude my friend is dumb poor devil said slivers harshly but went on van der loop sweetly his legs arms and eyes are all there slivers glared at this fresh piece of impertinence but said nothing he wrote a letter to Macintosh recommending him to take on the two men and handed it to van der loop who received it with a bow the price of your services Montseua he asked five bob growled slivers holding out his one hand van der loop pulled out two half crowns and put them in the thin claw like fingers which instantly closed on them it's the mining place you'll go into said slivers pocketing the money the pactulus claim there's a pretty woman there have a drink van der loop declined but his companion with the grunt pushed past him and filling a tumbler with the whiskey drunk it off slivers look ruefully at the bottle and then hostily put it away incase van der loop should change his mind and have some van der loop put on his hat and went to the door out of which Pierre had already preceded him I trust gentlemen he said with a graceful bow we shall meet again and can then discuss the beauty of this lady to whom Mr. Slivers alludes I have no doubt he is a judge of beauty in others though he is so incomplete himself he went out of the door and then slivers sprung up and rushed to Villiers he asked in an excited manner pulling his companion to the window Villiers looked through the dusty pains and saw the young Frenchman walking away as handsome and gallant a man as he had ever seen following by the slouching figure of his friend van der loop he said turning to slivers who was trembling with excitement until he retorted the other triumphantly that is Mr. Wright End of Part 1, Chapter 2 Part 1, Chapter 3 of Meta Midas this liberal box recording is in the public domain Meta Midas by Fergus Hume Part 1, Chapter 3 Meta Midas at home Meta Midas was standing on the rander of her cottage staring far away into the distance where she could see the tall chimney and huge mound of white earth which marked the whereabouts of the pactulus claim she was a tall, voluptuous looking woman of what is called a dunesque type decidedly plump with firm white hands her face was of a whitish tint more like marble than flesh and appeared as if modelled from the antique with the straight Greek nose high and smooth forehead and full red mouth with firmly closed lips she had dark and piercing eyes with heavy arched eyebrows above them and her hair of a blueish black hue was drawn movely over the forehead and coiled in sick wrists at the top of her small finely formed head although a striking looking woman but with an absence of animation about her face which had a calm, serene expression effectually hiding any thoughts that might be passing in her mind and which resembled nothing so much in its inscrutable look as the motionless calm which the old Egyptians gave to their sphinxes she was dressed for coolness in a loose white dress tied round her waist with a crimson scarf of Indian silk and her beautifully modelled arms bare to the elbow and unadorned by any trinkets were folded idly in front of her as she looked out at the landscape which was mellowed and full of warmth under the bright yellow glare of the setting sun the cottage for it was nothing else stood on a slight rise immediately in front of a dark wood of tall gum trees and there was a long row of them on the right forming a shelter against the winds as if the wood had thrown a protecting arm around the cottage and wanted to draw it closer to its warm bosom the country was an undiluting character divided into fields of long rows of gorse hedges all golden with blossoms which gave out a faint peach like odor some of these meadows were yellow with corn some are dull red with sorrel others left in their natural condition of bright green grass while here and there stood up white and ghost like the stumps of old trees the last remnants of the forest which were slowly retreating before the acts of the settler these fields which had rather a harlequin aspect with their varied colors all melted together in the far distance into an indescribable neutral tint and ended in the dark haze of the bush which grew over all the undulating hills on the horizon however at intervals a keen eye could see some tall trees standing boldly up outlined clearly against the pale yellow of the sky there was a white dusty road or rather a track between two rough fences with a wide space of green grass on each side and here and there could be seen the cattle wandering idly homeward lingering every now and then to pull at a particularly tempting tuft of bush grass growing in the moist ditches which ran along each side of the highway scattered over this pastoral looking country were huge mounds of white earth looking like heaps of carded wool and at the end of each of these invariably stood a tall ugly skeleton of wood these marked the positions of the mines the towers contained the winding gear while the white earth was the clay cool mullock brought from several hundred feet below the surface near these mounds were rough looking sheds with tall red chimneys which made a pleasant spot of color against the white of the clay on one of these mounds rather isolated from the others and standing by itself in the midst of a wide green paddock Mrs. Villiers eyes were fixed and she soon saw the dark figure at the man coming slowly down the white mound along the green field and advancing slowly up the hill when she saw him coming without turning her head or raising her voice she called out to someone inside Archie is coming Selena you would better hurry up the tea for he will be hungry after such a long day the person inside made no answer saved by an extra clatter of some domestic utensils and Madam apparently did not expect a reply for without saying anything else she walked slowly down the garden path and leaned lightly over the gate waiting for the newcomer who was indeed none other than Archibald McIntosh the manager of the Pactulus he was a man of about medium height rather thin than otherwise with a long narrow looking head and boldly cut features clean shaved saved for a frill of white hair which grew on his throat up the sides of his head to his ears and which gave him rather a peculiar appearance as if he had his jaw bandaged up his eyes were grey and shrewd looking his lips were formally compressed in fact the whole appearance of his face was obstinate the face of a man who would stick to his opinions whatever else might say to the contrary he was in a rough minor's dress all splashed with clay and as he came up to the gate Madam could see he was holding something in his hand do you know Ken what you may be he said a smile relaxing his grim features as he held up a rather large nugget tis the third in this week Madam Midas took the nugget from him and balanced it carefully in her hand with a thoughtful look in her face as if she was making a mental calculation about 20 to 25 ounces I should say she observed in her soft low voice the last we had was 15 and the one before 20 looks promising for the gutter doesn't it well I'll no say but what it might mean a deal may replied Macintosh with characteristic scotch caution as he followed Madam into the house it's no a very bad sign I know I'll say but what we might be near the devil's lane and we are said Madam turning with a smile well ma'am you'll have me sillier nor you can what to do with and tis be hoped you'll be making no fool of yourself Madam laughed she was used to Macintosh's plain speaking and in no wise offended her in fact much than being flattered as people's blame is always genuine their praise really so at all events she was not displeased and looked after him with a smile in her dark eyes as he disappeared into the back kitchen to make himself decent for tea Madam herself sat down in an armchair in the bow window and watched Selena preparing the meal Selena Jones-Frotz who now acted as servant to Mrs. Villiers was rather an oddity in her way she had been Madam's nurse and had followed her up to Ballarat with the determination of never leaving her Selena was a spinster as her hand had never been sought in marriage and her personal appearance was certainly not very fascinating tall and gaunt she was like a problem from Euclid all angles and the small quantity of grey hair she possessed were screwed into a hard lump at the back of her head her face was reddish in colour and her mouth prim and pursed up as if she was afraid of saying too much which you need not have been as she rarely spoke and was as economical of her words as she was of everything else she was much given to quoting proverbs and hurled these prepared little pieces of wisdom on every side like pellets out of a pop gun conversation which consists mainly of proverbs is rarely exhilarating consequently Mrs. Rotz was not troubled to talk much either by Madame or Macintosh Mrs. Rotz moved noiselessly about the small room in a wonderfully dexterous manner considering her height and after laying the table placed the teapot on the hob to draw thereby disturbing a cat and a dog who were lying in front of the fire for there was a fire in the room despite of the heat of the day Selena choosing to consider that the house was damp she told Madame she knew it was damp because her bones ached and as she was mostly bones she certainly had a good opportunity of judging annoyed at being disturbed by Mrs. Rotz the dog resigned his comfortable place with a plaintive growl of a more irritable temperament set up and made a sudden scratch at her hand drawing blood therefrom animals observed Selena grimly should keep their place and she promptly gave the cat a slap on the side of the head which sent him over to Madame's feet with an angry spit Madame picked him up and soothed his ruffled feelings so successfully that he cooled himself up on her lap and went to sleep by and by Archie who had been making a great splashing in the back premises came in looking clean and fresh with a more obstinate look about his face than ever Madame went to the tea table and sat down for she always had her meals with them a fact of which they were very proud Archie always treated her with intense respect though every now and then they were inclined to domineer Archie having seen that the food on the table was worth thanking God for asked a blessing in a peromptery sort of manner as if he thought heaven required a deal of pressing to make it attentive then they commenced to eat in silence for none of the party even to speech and no sound was heard save the rattling of the cups and sauces and the steady ticking of the clock the window was open and a faint breeze came in cool and fragrant with the scent of the forest and perfumed with the peach like odour of the gorse blossoms there was a subdued twilight through all the room the night was coming on and the gleam of the flickering flames of the fire danced gaily against the roof and exaggerated all objects to an immense size at last Archie pushed back his chair to show that he had finished and prepared to talk I didn't see any new bodies coming he said looking at his mistress they feckless things except were better than none though they should have been sculpted for their idleness you have written to slivers said madam, raising her eyes that wooden-legged body retorted Macintosh deed and I have but that old type hasn't done anything to get me what I want well well in a resigned sort of manner we might be where off than we are and what canes will send us men by and by Selena looked up at this saw her opportunity and let slip an appropriate proverb if we go by, by and by lane she said sharply we come to the gate of never this being undeniable no one gave her the pleasure a contradicting her for Archie knew it was impossible to argue with Selena so handy was she with her proverbial wisdom a kind of domestic tupper whose philosophy was of the most irritating and unanswerable kind he did the wisest thing he could under the circumstances and started a new subject I say on the day Yon in this case meant Mr. Villiers whose name was tabooed in the house and was always spoken of in a half hinting kind of way as both her servants knew all about her unhappy life madam did not scruple to talk to them how was he looking she asked smoothing the crumbs of her dress broadly replied Archie rising he lost money on that Moscow mine but he made a fine whore a fine of hearts came the wicked observed Selena flourish like a green bay tree O. E. I. retorted Macintosh Stryly we can about that Selena, old horny looks after his own I think he leads a very hand to mouth existence said Madam calmly however rich he may become he will always be poor was a provident man he's coming to see him and said Archie lighting his pipe madam rose to her feet and walked to the window he's done that before she said complacently the result was not satisfactory continual dropping wears away a stone said Selena who was now clearing away but not Ion replied Madam placently I don't think his persistence will gain anything Archie smile grimly and then went outside to smoke his pipe while Madam sat down by the open window and looked out at the fast fading landscape her thoughts were not pleasant she had hoped to cut herself off from all the bitterness and sorrow of her past life but this husband of hers like an unquiet spirit came to trouble her and remind her at the time she would willingly have forgotten she looked calm and quiet enough sitting there with her placid face and smooth brow but this woman was like a slumbering volcano and her passions were all the more dangerous from being kept in check a bat flew high up in the air across the clear glow of the sky disappearing into the adjacent bush and Madam stretching out her hand idly plucked a fresh dewy rose of the tree which grew round the window if I could only get rid of him she thought toying with the flower but it is impossible I can't do that without money and money I never will have to find that lead I must bribe him I suppose oh why can't he leave me alone now surely he has ruined my life sufficiently in the past to let me have a few years if not a pleasure at least a forgetfulness and with a petulant gesture she hurled the rose out of the window where it struck Archie a soft and fragrant blow on the cheek yes said Madam to herself as she pulled down the window I must get rid of him and if bribery won't do there are other means end of part one chapter three part one chapter four of Madam Midas this Libra Vox recording is in the public domain Madam Midas by Fergus Hume part one chapter four The Good Samaritan is there anyone nowadays who reads Kaopa that charming domestic poet who wrote the task and invested even furniture with glomer of poetry a less to many people Kaopa is merely a name or is known only as the author of the delightfully quaint ballad of John Gilpin yet he was undoubtedly the poet laureate of domesticity and every householder should possess a bust or picture of him placed not amid the frigid splendours of the drawing room but occupying the place of honour in his own particular den where everything is old fashion, cheery and sanctified by long usage no one wrote so pleasantly about the pleasures of a comfortable home as Kaopa and was he not right to do so after all every half is the altar of the family whereon the sacred fire should be kept constantly burning waxing and waning with the seasons but never be permitted to die out altogether Miss Sprotz, as before mentioned was much in favour of the constant fire because of the alleged dampness of the house and Madame Midas did not by any means object as she was the perfect sullamander for heat hence when the outward door was closed the faded red curtains of the windows drawn and the newly replenished fire blazed brightly in the wide fireplace the room was one which even Kaopa cyber-right in home comforts as he was would have contemplated with delight Madame Midas was seated now at the small table in the centre of the room pouring over at the wildering array of figures and the soft glow of the lamp touched her smooth hair and white dress stewed light Archie sat by the fire half asleep and there was a dead silence in the room only broken by the rapid scratching of Madame's pen or the click of Selena's needles at last Mrs. Villiers with a sigh of relief laid down her pen put all her papers together and tied them neatly with a bit of string and said I'll have to get a clerk Archie she said as she put the papers away the office work is getting too much for me deed, ma'am and tis the same I was thinking on returned Mr. McIntosh sitting bulk upright in his chair lest the imputation of having been asleep should be brought against him it's ill work seeing you spoiling your bonny eyes you can muck a lot of figures as you had there someone must do it said Madame resuming her seat at the table then why not get a body that can dart retorted Archie not that what can a figure yourself ma'am but really you need a rest and if I hear of anyone in town what we can trust I'll bring him here next week I don't see why you shouldn't said Madame musingly the mine is fairly underway now and if things go on as they are doing I must have someone to assist me at this moment a knock came to the front door which caused Selena to drop her work with a sudden start and rise to her feet not you Selena said Madame in a quiet voice let Archie go it may be some tramp replied Archie obstinately as he arose from his seat it is very likely a man from the works saying he wants to go there's mere talk nor sense about them I'm thinking the yattering parrots Selena resumed her knitting in a most thematic manner that Madame listened intently for she was always haunted by a secret dread of her husband breaking in on her and it was partly on this account that McIntosh stayed in the house she heard a murmur of voices and then Archie returned with two men who entered the room and stood before Madame in the light of the lamp his two men from the wooden leg and gout as slivers said Archie respectfully and OVM has a wee bit of letter foyer turning to receive same from the foremost man the man however did not take notice of Archie's gesture but walking forward to Madame laid the letter down before her as he did so she caught sight of the delicacy of his hands and looked up suddenly with a piercing gaze he bore the scrutiny coolly and took a chair in silence his companion doing the same while Madame opened the letter and read slivers bad writing with a dexterity only acquired by long practice having finished her perusal she looked up slowly a broken down gentleman she said to herself as she saw the easy bearing and handsome face of the young man then looking at his companion she saw by his lumpish aspect and coarse hands that he occupied a much lower rank of life than his friend Monsieur Vandeloop for it was he as she was scrutinising them and his face broke into a smile a most charming smile as Madame observed mentally though she allowed nothing of her thoughts to appear on her face you won't work she said slowly holding up the letter and placing it in her pocket do you understand anything about gold mining unfortunately no Madame said Vandeloop coolly but we are willing to learn Archie grunted in a dissatisfied manner for he was by no means in favour of teaching people their business and besides he thought Vandeloop too much of a gentleman of work you look hardly strong enough for such hard labour said Mrs Villiers doubtfully eyeing the slender figure of the young man your companion I think will do but you I Madame am like the lilies of the field that neither toil nor spin replied Vandeloop gaily but unfortunately and though I should prefer to earn my bread in an easier manner beggars with a characteristic shrug which did not escape Madame's eye cannot be choosers you are French she asked quickly in that language yes Madame he replied in the same tongue both my friend and my self are from Paris but we have not been long out here mmm Madame leaned her head on her hand and thought while Vandeloop looked at her keenly and remembered what slivers had said she is indeed a handsome woman he observed mentally my lines will fall in pleasant places if I remain here Mrs Villiers rather like the look of this young man there was a certain fascination about him which few women could resist and Madame although still to a considerable extent by experience was yet a woman his companion however she did not care about he had a sullen and lowering countenance and looked rather dangerous what is your name she asked the young man Guston Vandeloop you are a gentleman but said nothing and knew asked Madame sharply turning to the other he looked up and touched his mouth pardon him not answering Madame in deposed Vandeloop he has the misfortune to be dumb dumb echoed Madame with a glance of commiseration while Archie looked startled and Selena mentally observed that silence was golden yes he has been so from his birth at least so he gives me to understand said Guston with a shrug of his shoulders which insinuated a doubt on the subject but it's more likely the result of an accident that he can hear though he cannot speak however he is strong and willing to work and I also give me an opportunity adding he with a winning smile you have not many qualifications said Madame shortly angry with herself for so taking to this young man swerve manner probably not retorted Vandeloop with a cynical smile I fancy it will be more a case of charity than anything else as we are starving Madame started while Archie murmured pure dowels surely not as bad as that observed Mrs. Villiers in a softer tone why not retorted the Frenchman carelessly manner does not fall from heaven as in the days of Moses we are strangers in a strange land and it is hard to obtain employment my companion Pierre can work in your mind and if you will take me on I can keep your books with a sudden glance at a file of papers on the table thank you I keep my own books replied Madame shortly what do you say to engaging them Archie we may give them a try said Macintosh cautiously yay do need a figure man as I told you and the dare deal can work in the claim Madame drew a long breath and then made up her mind very well she said sharply you are engage Montseur van der loop as my clerk and your companion can work in the mine as to wages and all that we will settle tomorrow but I think you will find everything satisfactory I am sure of that Madame returned van der loop with a bow and now said Madame Midas graciously relaxing somewhat now that business was over you had better have some supper Pierre's face lighted up when he heard this invitation and van der loop bowed politely you are very kind he said looking at Mrs. Villiers in a friendly manner supper is rather a novelty to both of us Selina meanwhile had gone out and returned with some cold beef and pickles a large loaf and a jug of beer these she placed on the table and then retired to her seat again inwardly rebellious and having two trance at the table but outwardly calm Pierre fell upon the victuals before him with the veracity of a starving animal and ate and drunk in such a savage manner that Madame was conscious of a kind of curious repugnance and even Archie was startled out of his scotch-flem I want no care about keeping you long he muttered to himself he is mere like a cannibal nor a civilised body van der loop however ate very little and soon finished then filling a glass with beer he held it to his lips and bowed again to Madame Midas to your health, Madame he said drinking Mrs. Villiers bowed courteously this young man pleased her she was essentially a woman with social instincts and the appearance of this young and polished stranger in the wilds of the pactulus claim promised her a little excitement it was true that every now and then when she caught a glimpse from his skin-to-lating eyes she was conscious of a rather unpleasant sensation but this she put down to fancy as the young man's manners were really charming when the supper was ended Pierre pushed back his chair into the shadow and once more relapsed into his former gloom but van der loop stood up and looked towards Madame an exciting man up I'm afraid, Madame, we disturb you he murmured vaguely though in his heart he wished to stay in this pleasant room and talk to such a handsome woman we had best be going not at all answered Madame graciously sit down you and your friend can sleep in the men's quarters tonight and tomorrow we will see if we can't provide you with a better resting place van der loop murmured something indistinctly and then resumed his seat meanwhile said Mrs Villiers leaning back in her chair and regarding him fixedly tell me all about yourselves our last Madame answered van der loop with a charming smile and deprecating shrug of his shoulders there is not much to tell I was brought up in Paris and getting tired of city life I came out to India to see a little of the world then I went over to Borneo and was coming down to Australia when our vessel was wrecked and all on board were drowned but myself and this fellow pointing to Pierre who was one of the sailors we managed to get a boat and after tossing about for nearly a week we were passed up on the coast of Queensland and from thence came to Melbourne I could not get worked there neither could my friend and as we heard at Ballarat we came up here to try to get employment and our lines Madame with another bow have fallen in a pleasant place what a dreadful chapter of accidents said Madame purely looking at him to see if he was speaking the truth for experience of her husband had inspired her with an instinctive distrust of men van de loop however bore her scrutiny without moving a muscle of his face so Madame at last withdrew her eyes quite satisfied that his story was true is there no one in Paris to whom you can write she asked for a pause luckily there is Return Guston and I have already sent a letter asking for a remittance but it takes time to get an answer and as I have lost all my books papers and money I must wait for a few months and as I have to live in the meantime I am glad to obtain work still your consul begun Mrs Villiers alas Madame what can I say how can I prove to him that I am what I assert to be my companion is dumb and cannot speak for me and unluckily he can neither read nor write I have no papers to prove myself so my consul may think me what do you call a scamp no I will wait till I receive news from home position again besides with a stroke after all it is experience experience said Madame quietly is a good skill master but the fees are somewhat high ah said Vandaloupe with a please look you know high I perceive Madame I did not know he was read out here we are not absolute barbarians I assume Vandaloupe said Madame with a smile as she arose and held out her hand to the young man and now good night for I am feeling tired and I will see you tomorrow Mr McIntosh will show you where you are to sleep Vandaloupe took the hand she held out to him and pressed it to his lips with a sudden gesture Madame he said passionately you are an angel for today you have saved the lives of two men Madame snatched her hand away quickly and a flash of annoyance spread over her face as she saw how Selena and Archie stared Vandaloupe however did not wait for her answer but went out followed by Pierre Archie put on his hat and walked out after them while Madame Mathers stood looking at Selena with a thoughtful expression of countenance I don't know if I have done a right thing Selena she said at length but as they were starving I could hardly turn them away cast your bread on the waters and it shall come back after many days buttered said Selena giving her own version of the text Madame laughed Monsieur Vandaloupe talks well she observed so did he replied Selena with a snip referring to Mr Villiers once bitten twice shy quite right Selena replied Mrs Villiers coolly that you are going too fast I'm not going to fall in love with my servant you're a woman retorted Selena undoubtedly for she had not much belief in her own sex yes who has been tricked and betrayed by a man said Madame fiercely and do you think because I sucker a starving human being I am attracted by his handsome face you ought to know me better than that Selena I have always been true to myself and without another word she left the room still for a moment then deliberately put away her work slapped the cat in order to relieve her feelings and poked the fire vigorously I don't like him she said emphasizing every word with a poke he's too smooth and handsome his eyes aren't true and his tongues too smart I hate him having delivered herself of this opinion she went to boil some water for Macintosh who always had some whiskey hot before going to bed Selena was right in her estimate and logically argued the case stood thus some animals of a fine organization have an instinct which warns them to avoid approaching danger women is one of these finally organized animals ergo let no woman go contrary to her instinct


Hello and welcome to this session in which we'll discuss the third taxed asset. What is a deferred taxed asset? For one thing, we know it's an asset. What is an asset? Well, an asset is something that's gonna give you benefit in the future, something that's gonna benefit you. Well, benefit you as a result of what? Well, it's the result of deferring some tax deduction. In other words, you're gonna have a difference, a temporary difference, not permanent, a temporary difference, and that difference is the result of a tax basis of an asset or a liability and the carrying value of that amount on the financial statement that will result in a future taxable deductible amount. Hold on a second. Could you explain this a little bit slower? Yes, yes, I can. So you have an item, either an asset or a liability for the purpose of this example, I'm gonna use a liability. Let's assume you have a warranty expense slash liability. How does it work for gap purposes? So let's assume we are looking for gap. For gap purposes, when you have a liability for an estimated warranty, you will debit an expense and you credit a liability. This is what you do.  For tax purposes, for that particular year, when you estimated your liability, you don't do anything for tax. Why? Because if you did not really incur the item, if you did not really pay for the warranty, you have no expense. Therefore, what's gonna happen, you have a liability for gap, which is a liability for book purposes, and no liability for IRS purposes. There's a difference between those two. This amount, whatever that amount is, which will work in example, and the IRS amount, which is zero. As a result of those two differences, we're going to create future deductible amount. In the future, when the customer comes back and you actually service them, you will have an expense for tax purposes, and as a result, you will have a deduction. But what's gonna happen for now, we are going to record this future deductible amount as a deferred taxed asset. This is what a deferred taxed asset is. It represent an increase in taxes refundable or saved. So in the future, what we are telling the investors, in the future, we're gonna have actual cash expenses, which we're accounting for them now under the gap purposes, but in the future, they're gonna be savings for tax purposes. As a result of this temporary difference that existing at the end of the current year. The best way to illustrate this concept is to actually look at some figures. During 20X1, ARM estimated its warranty cost related to the sale of its smart TVs to be 400,000 over the next two years. So Adam says, I'm gonna have a estimated warranty expense of 400,000. For book purposes, Adam recognized the warranty expense and its related estimated liability for warranties of 400,000. So let me show you the entry that Adam will make for financial accounting purposes. For financial accounting purposes, Adam will debit warranty expense, Adam will debit estimated warranty liabilities 400,000, 400,000. Adam is expected to service 100,000 of the warranty in 20X2 and 320X3. So Adam thinks that in 2020X2, 100,000 will have to service the warranties and remaining 300,000 will be in X3. That makes sense because the longer the TVs are out there, the more likely to break. Now, what would Adam do for tax purposes? For tax purposes for X1, this is 20X1, for tax purposes, no entry. So what did we do here? Well, for per books, for gap purposes, we have a liability of 400,000. For the tax return, we have no liability and no expense for that matter, assuming no customers came back for that year. So the liability is zero, the estimated liability. We have a difference in those two liabilities, book difference of 400,000. As a result, we have a future deduction. As a result, we are going to have a third tax asset. So the question for this will be compute taxable income, compute income taxes payable, compute income tax expense and prepare the journal entries for this exercise. Before we do so, you must be either an accounting student or a CPA candidate if you're watching me. Please take a look at my website, farhatlectures.com. I don't replace your CPA review course. Please, by not any means. The fact that you are watching me and you have a CPA review course or you are taking an accounting course, it means you are looking for additional help. I can help you. I have resources, multiple choice, true, false, lectures. My courses and my resources are aligned with your course per chapter. My CPA review material is aligned with your Becker, Roger, Gleam, Wiley, Miles, whatever course you are taking. I give you access to 1,500. Previously released, AI CPA questions with detailed solution. If you have not connected with me on LinkedIn, please do so, take a look at my LinkedIn recommendation. Like this recording on YouTube, share it with other. If it's helping you, it's gonna help other people. Just share it like it, it helps me as well. Connect with me on Instagram, Facebook, Twitter and Reddit and please join me on my group me account CPA exam, support group where you can have discussion with other CPA candidate and I do participate in those discussion as well. So let's start by computing taxable income. So you have to understand what is taxable income? Taxable income is an IRS term. Taxable income is what? Is how much your income subject to taxation? Income taxes table is how much you have to pay the IRS? Well, let's take a look at who we are giving. Assume financial income is half a million and the tax rate is 20%. You are not giving taxable income, but you should be able to compute taxable income. Let's see how we compute taxable income. You have financial income of $5 million right here. Financial income is gap 5 million. What else are we giving? We are giving the fact that you deducted of this, to get to this half a million, you deducted 400,000 as a warranty expense and the journal entry is right here. You deducted 400,000. Now this 400,000 should not be deducted for tax purposes. So what do you need to do to financial income? Add to your financial income the temporary difference of 400,000. Notice you deducted. I'm gonna put it as a minus here. Then a parentheses. So you see the minus versus the plus. So you deducted this to get to your gap income to go from gap income to IRS income, you're gonna have to add it. Now we find out your IRS income is 5.4 million. What does that mean? It means you have to pay taxes on the 5.4 million, 20% tax rate. You have a tax bill of 1 million and 80,000. This is your income taxes payable. And this is your taxable income because they can ask you for either or. So we can figure out taxable income, figure out income taxes payable. Now what is your income tax expense? We're gonna see on the next slide and we haven't looked at the third tax asset. So let's take a look and compute the third tax asset. This is what we expect. We expect in X2, this is X1, we expect in X2 100,000 to reverse. In other words, 100,000 to be deductible for tax purposes. When this is deductible, it's gonna give us $20,000 in tax savings. In X3, the remaining 300,000 to be tax deductible times 20%, it's gonna give us tax savings of 60,000. Let's prepare the journal entry for X1. Remember for X1, it doesn't matter what year. And when you are preparing the journal entry, the first entry you make is income taxes payable. What you have to pay to the IRS is 1,080,000. The next thing you compute is your third tax asset or the third tax liability. Here we have the third tax asset because we're gonna have future savings of how much of 80,000. So we're gonna debit, it's an asset, the third tax asset of 80,000. Now what's left is your income tax expense. What is your income tax expense? Your income tax expense is if you have the third tax asset. So you have, you have to pay the IRS now 1,080,000. In future years, you are going to save 80,000. Therefore your income tax expense for now is a million. Again, it's a plug. It's the debit is a plug. This is your income tax expense. Simply put, this 1 million has a current portion and a deferred portion. The current portion is the 1 million. The current portion and the deferred portion is 80,000. You have a deferred tax savings. So let's take a look at 20X2. What would happen in 20X2? Let's assume for the sake of illustration, your income taxes payable happens to be, I don't know, 800,000. I just made up this number. Now you are going to reduce your deferred tax asset. It's gonna reverse of 20,000. Now what's your income tax expense? Your income tax expense is 820, which is what you have to pay to the IRS. 800,000 plus 20,000 is 820. Here's what I want you to see. I hope, and I hope you are familiar with T accounts because this is where the value of T accounts comes into place. In year one, in X1, here's what happened in X1. In X1, if we look at your deferred tax asset, and this is important to see, your deferred tax asset went from zero, went up from zero to 80,000, okay? Went from zero to 80,000. The corresponding expense, as a result, if this is a debit, the corresponding expense is a credit to expense. So your expenses went down by 80,000. So notice here, 1,000,000, 80,000, you have to pay to the IRS, but your expense was 80,000 less. In X2, in X2, let's take a look and see what happened in deferred taxed asset. In X2, your starting balance was 80. Now we have to reduce it by 20. So now your remaining is 60, which is the 60 here. So now what happened, your deferred taxed asset was a credit. The corresponding debit is the income tax expense of 20,000. So your income tax expense, the corresponding, let me put the corresponding entry in a different color, the corresponding expense, if this was a credit, this must be a debit of 20,000. And that's why you have an additional 20,000 and income tax expense. What should you do now? To learn more about deferred tax asset, deferred tax liability, go to Farhat Lectures and work MCQs and through faults. Now this is only the start of this discussion. We're gonna have to have prior balances. We're gonna look at different tax rate in future years. There's a lot to learn. We're just starting this. So hang in there.  As I said, if you are listening to me, you're either a student or a CPA candidate, invest in yourself. Don't shortchange yourself. The CPA exam is worth it. Your accounting courses are worth it. Good luck, study hard, and of course, stay safe.