The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-12-26

Ectut TO Dinners.
From the New York Press.
Here is specimen of the price lists
that some London brokers are sending
| out:
Dukes; ,,. 10000 Barons ......... 5000
Marquises. -. 1900 Baronets, Hon
E tJ..l ,.,;...s. 800 CRADLES, etc $500
Commission moderate.
English investors were recently enlight-
ened as TO the existence OF the above re-
mdrkable commercial commodity The
public learned for the first time that a
nobleman has a distinct mercantile val
ue, not alone in the matrimonial market
Uhe sale of titles in exchange for settle
ments having long been recognized as an
ordinary transaction, but for wholly diff
ferent purposes, 1t was discovered that
peers were bought and sold in "the city,"
Just Ike stocks and bonds. Tor the value of
/ their names. To induce the gullible Eng
| ish public to believe doubtful investment
| valuable, the names of one or two noble
men on the prospectus are the most DO
tent arguments known to the promoter.
| The committee of the London Stock FIX
change lately had before it the case of a
member of firm of brokers, who pro-
vlded two earls as directors for one of the
1 HOated.
| which have succeeded in persuading the
BRUSH public to invest to an almost in
eredIple extent. The broker had received
toOV from the company promoter for get
/ ting the two noblemen and this sum he
Kept Tor his own purposes. His partners
We're envious of his success in the noble
man market and wanted him to divide
with themselves. This he refused to do
| ana thereupon the partners made a com,
pant 10 the stock exchange committee
ana that the $4,000 should have been piac3
eG py nm 70 the general credit
Inc committees decision is not yet
hloWn' ana is OF no particular interest ex-
| cept 10 the parties concerned, but it is GER
| fanny worth knowing to the public that
lhe noblemen whose names appear on
| pIospectuses are to be bought Just like
any other expensive advertisement What
| the Two earlS received for the use of their
names rdt es IN this particular instance is also
not stated, the money in question being
| simply the middle mans profit
| me way in which this sort Of transac-
Ton IS usually arranged is as follows The
proIhocer OF the company, generally eth
| er gold mining or Industrial enterprise
| desires nobleman for his Chairman. and
9 III or OF Two 70 more Tor his list Of directors,
tne CITY who have the reputation of sue
| cusStul peer catchers," and states his
| MisneS and the price he is willing 20 nav
| The middlemanS fee is itself considerahle
as the case mentioned shows, but the bali
I4r the nooleman is of a slightly different
II would never do to approach a peer
with an oIter of money; even the hardest
| up OF them all would resent such bare
| ldced DrlDery. So the middleman goes to
| work in a more diplomatic way. He in
forms the earl or viscount that the latter's
well-known skill and Judgment would be
u immense use TO the company; that if
| ne VIII accept the position of chairman or
! olrector-as the case may be-the duties
| VII be night, and that in consideration of
lne loss OF time to his lordship, the COM
\ pany will give him call on, saw 5000
| shares at f2 a share.
| NE We viii suppose the. enterprise is to be
called the kruger Gold Mining COMPANY
| OF Basutoland." The Earl of Lacklands is
| offered the position of chairman or direc-
| tor, and receives a call" on 5000 shares
pleases he, can demand that number of
| shares at the price named. The par value
the interest of his lordship to use every
| endeavor in his power to "bulP' the COM
pany He advises all his friends to in
| vest, allows himself to be interviewed by
| reporters of financial dailies and weeklies
| and as soon as the public shows dsposi-
ton to nibble at the bait, calls in his
| shares, and-supposing he obtains only fI
| a share-clears a profit of $4,000
| or course, 1t would not be etiquette on
the part of the earl to resign his chair
| manship as soon as his interest in the
| venture is exhausted, and as soon, indeed,
l as his use to the promoter is vanished
After the public has subscribed for the
| shares the history of the company is one
| long and solemn farce. This refers, of
| course, only TO the bogus companies in
/ n
/ vesting. 1t recently has been estimated
that the number of paying enterprises as
compared with those f1oated in London, is
| as one to six. What is said here refers to
| those companies launched for the sole
| purpose of swindiing the investing public
| The noble chairman continues to pre-
] side at the meetings and TO eat the sump-
/ tuous dinners provided for the directors.
| When the company is wound up he de-
| cares he has lost as much as any one, and
| one more is added to the long list of privi-
| legged swindles about which there is no in
| curry and only little easily suppressed
cutlery.
/ Inc nobeman for his chairman, he does
| not care what the character or reputation
| of the latter may be. Neither, apparently,
| does the public. Even the Earl of Ayles-
burys name appeared on the prospectus of
more than one company, although he was
notorious all over England as a wastrel
| and g rake. But judging from the his
| tory of the companies in which he was in
| terested Lord Aylesbury proved just as
| attractive to the public as would peer
i of responsibility and position.
| Nearly every peer in Great Britain, ex-
| cept the wealthiest, Is or has been a chair
| man or director of one or more companies.
When the enterprise smashes up the no
beman can always say that he was hon
estly deceived and there is no one to con-
| tradict him. And so the newspapers dare
! not publicly expose a scandal which is
| perfectly well known 10 every one behind
| the scenes.
But il is not only for company promot-
| ing purposes that nobleman can find a
market for their names and themselves
| Those who are. not successful in getting
| on to good thing in this city can gem
orally turn guinea by hiring themselves
out to certain fashionable caterers, who,
| for fees varying from to 200 guineas. are
willing to supply all kinds of noblemen,
| English or foreign, for dinner parties or
| dances. When Mrs. Norwood Hill or
Mrs. Lydenham Park gives a reception Il
secures her undying glory and the envy
| of all her neighbors II a nobleman is
| present at the gathering, and If the said
nobleman is an entire stranger to her
and appears in the caterers bill for a
substantial amount no one is the wiser
and every one concerned is satisfied.
Whitley of London does a large business
of this kind, and many a ''decave" scion
of nobility is enabled by this means to
support himself in comfort In chambers
in some street off Picadilly, whereas II
it were not for this pleasing development
Of the universal providers" trade he
would have to emigrate to South Africa
or Australia and earn his living as cow
boy or a miner.
From all this IL appearsithat a title is
good marketable article,3 and that those
who fail to find heiresses, and-like Wis
count Hinton--descend to such plebeian
prursnts as street organ-grinding or cab
driving, have no one to blame but them
CALVES