River of Smoke(22)

In other words, he, Bahram, who had contributed so much to the firm was to be shut out of the succession and pensioned off.

That the Mistries might be willing to sell off their hugely profitable export unit was a possibility that Bahram had never contemplated. Nor could he abide the thought of retirement; never to go to sea again, never to return to Canton would be to diminish his life by half or more; it would be as good as a living death. Three years had already passed since his last visit to China, and in the meanwhile his son, who was now in his early twenties, had disappeared and Chi-mei had died. For that reason alone it was impossible for him to think of renouncing Canton for ever; he would never be able to live with the torment of not knowing what had become of his boy.

But why now? said Bahram to his brothers-in-law. Why do you want to sell the export division at a time when it’s poised to do better than ever before? Why not wait a few years?

The Mistrie brothers explained that they had of late heard many troubling rumours about the situation in China; there was even talk that the Emperor would soon impose a total ban on opium imports. A period of prolonged uncertainty seemed to be looming ahead, which was why many Bombay businessmen were washing their hands of the China trade. As for themselves, they had always felt that this enterprise was overly risky and speculative; they had now concluded that it would be best to get rid of the export division before it became a drag upon the rest of the firm.

Bahram’s response was to stare at his brothers-in-law in frank astonishment: being much better informed about the situation than they, he had given the rumours and gossip much more attention than they had. The conclusion he had reached was exactly the opposite of theirs; it seemed to him that the present conditions offered an unmatched commercial opportunity, the like of which came only once or twice in a lifetime. Similar rumours had circulated in 1820 and Seth Rustamjee had tried to dissuade Bahram from shipping any opium that year. Not only had Bahram insisted on going, he had shipped his biggest consignment to date; things had turned out exactly as he had expected and he had made an immense profit. It was this coup that had pushed him into the select group of foreign merchants who were known in Canton as daaih-baan – or taipans, as they liked to style themselves.

Bahram had good reason to think that the same thing would happen again this year: he had recently learnt that a group of senior mandarins had submitted a memorial to the Emperor of China, recommending the legalization of the opium trade. It seemed likely that this would soon be acted upon: the state stood to earn huge revenues if it taxed the trade, and the mandarins too would make enormous profits. The demand for opium was sure to increase vastly afterwards.

Bahram could have told the Mistrie brothers about this if he had wished; he could also have told them that he had planned to ship an unusually large consignment of opium this year, in the expectation of making a great deal of money for the firm. But he did neither; instead he came to a decision that he should have made many years ago: for much too long had he used his wits, his nerves and his experience to make money for his brothers-in-law; it was time now to do it for himself. If he pooled all his resources, cashed in his savings, mortgaged his properties, sold Shireenbai’s jewellery and borrowed from his friends, he would surely be able to double or treble his capital, allowing him to set up his own company. The risk had to be taken.

He gave his brothers-in-law a polite smile. No, he said. No you will not sell off the export division.

What do you mean?

You will not sell it off because I will buy it from you myself.

You? they cried out in unison. But think of the cost … there are the ships … the Anahita … the crews and their salaries. … the insurance … the daftars … the warehouses … the working capital … the fixed expenses.

They fell silent and goggled at him, until one of them found the breath to ask: And do you have the funds?

Bahram shook his head. No, he said. I don’t have the funds right now. But once we settle on a price, I give you my word that you’ll have the money within a year. Until that time, I ask that you leave the export division intact, and in my charge, to run as I see fit.

The brothers had glanced at each other uneasily, unsure of how to respond. To settle the matter, Bahram had pointed out, gently: You have no choice, you know. Everybody in Bombay knows that I have built this division from nothing. No one would buy it against my advice. You would not realize a fraction of its true price.

Right then there was a sound overhead. It was caused merely by the fall of some weighty object on the floor above – but Bahram was familiar with the superstitions of his audience and he seized his opportunity. Laying his hand on his heart, he said: Hak naam te Saahebnu, Truth is the name of the Almighty.