Mr. Selfridge's financial ruin

Mr. Selfridge, an elderly gentleman and the largest stockholder of the Titan, faces complete financial ruin as a direct consequence of the ship's destruction. His entire worldly wealth, including one hundred thousand pounds invested in Titan stock, is lost when the insurance on the ship is declared void. This financial catastrophe, compounded by the recent loss of his son in the wreck, proves fatal, leading to his sudden death from heart failure in the office of the underwriter Mr. Meyer.

The Scale of His Investment

Mr. Selfridge's financial stake in the Titan is immense. He is described as the largest holder of Titan stock, with an investment of about one hundred thousand pounds. This sum represents his entire fortune, as he confides to Mr. Meyer that "All I had in the world --- even to my son and grandchild --- was in the Titan." His investment is so substantial that he is a member of Lloyds, the great association of underwriters and shipping-men, and his personal wealth is tied directly to the fate of the ship. The loss of this investment means not only the loss of his income but the complete destruction of his financial security in his old age.

The Insurance Dispute and Its Consequences

The immediate cause of Mr. Selfridge's ruin is the refusal of the underwriters to pay the insurance on the Titan. Mr. Meyer, the heaviest insurer, declares that the policy is void due to the concealment of the collision with the Royal Age and the drugging of the lookout John Rowland. As Mr. Meyer explains, "You or I must have been ruined, Mr. Selfridge, and it has settled on you." The invalidation of the policy means that Mr. Selfridge, as the largest stockholder, must bear the entire loss himself. Furthermore, the collision clause in the policy is also void, requiring the steamship company to reimburse Mr. Meyer for the insurance he must pay to the Royal Age owners. This additional liability would have been assessed against Mr. Selfridge's remaining assets, had he left any, making his financial ruin even more complete.

The Fatal Shock

Mr. Selfridge's reaction to the news of his ruin is immediate and devastating. When Mr. Meyer announces that the insurance will not be paid, Mr. Selfridge stumbles toward a chair, grasps it, loosens his hold, and falls to the floor, gasping convulsively. Rowland, kneeling by his side, diagnoses heart failure. Despite efforts to revive him, Mr. Selfridge passes away before a doctor or carriage can arrive. The doctor attributes his death to "sudden emotion of some kind --- violent emotion, too." The news of his ruin, coming on the heels of the joy of finding his granddaughter Myra alive, proves too much for his aged heart. His death is a direct result of the financial catastrophe, underscoring the human cost of the Titan's destruction and the callousness of the insurance industry.

The Aftermath and the Child's Loss

Mr. Selfridge's death leaves his granddaughter Myra, the child rescued by Rowland, without any inheritance. As Mr. Meyer notes, "He was der heaviest stockholder in der Titan. One hundred thousand pounds, be owned, of der stock, all of which this poor, dear little child will not get." The old gentleman's fortune, which might have provided for Myra's future, is entirely lost. This outcome highlights the tragic irony of the situation: the child who was saved from the wreck is now deprived of her grandfather's wealth, and the family's financial security is destroyed along with the ship. Mr. Selfridge's ruin thus extends beyond his own death, affecting the next generation and leaving Myra dependent on the charity of others, including Rowland, who ultimately refuses to testify against the insurance company to protect her interests.