Omaha daily bee., 1896-11-15
ERA or RECKLESS SPECULATION.
English syndicate Floats mn Immense
4 ,...,l..i ~. t..r...I GI.nl..


Amount of wntcrcd stocks.
Copyright 1896, by Press Publishing Company
LONDON, Nov. 14.-(New York World
Cablegram-special Telegram)-As wild
and reckless speculation is in progress in
certain great English enterprises lately
launched I'm the market as there was in
South African stocks last year. The pro-
moters all seem to be the men who made
quick and vast fortunes in pneumatic tire
stock last year They purchased the original
company at $1,000 900 and put it on the mar
kot at 100000 One bicycle company at
birmingham was bought by the syndicate
Cthe great Ernest Terrah Hooley is at the
head Of the syndicate) at flS5OoO, and
marketed 1t at 1000 and another at fli,-
600 and marketed 1t at $1,000 Then they
bought out the great Upton Tea company
at couple of millions sterling or so, and
"Boveril," a meat juice invention at about
the same figure. Three or four-column
trading notice" advertisement OF the new
companies appear in all the newspapers to-
day have already informed the World
of Mr. Hooeys enormous purchases OF old
English country estates. He declares in an
interview his belief that his English land
will advance in price. A government report
Just issued notes that about $4,000 people
are employed in bicycle manufacture in
Birmingham and Coventry alone producing
about $50 900 cycles a year valued at tl2,-
600 900. The capital of these companies
amounts to FL 600, 600. The exports of Brit
ish bicycles to the United States were once
quite large, but have fallen off to prac-
tically nothing, while the import Of Amer
i,
newspaper notes today: MANY riders prefer
the American bicycle for its lower price
and lighter make. 1t is said, moreover.
that arrangements are being made by these
American companies to place thousands of
chainless machines on the English market In
the spring"
MOTOR CYCLES GET A SHOW.
This motor cycle excursion to Brighton
today attracted only one or two private COM
pettors. nearly all the machines being SAM
pies from the manufactures, chiefly French.
This was the first day the English law per-
mltted them to appear in the streets except
under practically prohibitiyc restrictions.
Now they can traverse every road virtually
at the sweet will of their owners. They must
not exceed. however, three tons in weight
unladon and not be used for drawing more
than one vehicle the whole AFFAIR not eX-
ceeding four tons in weight in the absence
Of a load The locomotive must be so con
structed that no smoke or visible vapor snail
be emitted from It, except from a temporary
| or accidental cause. The act permits max
imum speed of fourteen miles, but empowers
the local government board to prescribe a
slower rate Twelve miles is fixed as the
present limit and will only be allowed to a
vehicle weighing less than a ton and
half. II the weight reaches that figure, but
is not more than two tons, the speed is
limited to eight miles Again. if the weight
exceeds two tons, the pace may not be more
than five miles. Where a motor cycle OF
whatever weight draws another vehicle the
speed is never to exceed six miles. These
regulations in respect to speed are to have
effect for six months and afterwards until
.the local government board shall otherwise
| direct
Not only newspaper men, but the public
generally, will be interested in case In
| the courts this week brought by recent
purchaser of a small interest In the London
Times property The Times always has been
| profoundly secretive concerning its circula-
| tion and income. Its enemies and the irish
men at the Parnel inquiry have from time
! to time made determined efforts to obtain
information on these points, and in view OF
the fact that some eighty odd persons have
| minute shares in the paper it Is surprising
that until the present moment no authentic
data have been procurable, but the trial OF
this suit has been the accidental means OF
giving a clear index of the amount dis
tributed in dividenGs among the proprietors
Of this famous newspaper.
NET INCOME OF THE TINES.
Mr. Birnie Todd of Brighton was proceeded
| against for misrepresenting the income de
rivable from a fractional share in the Times
which he had sold to Rev. Aurelian Adams
for 1854 ($1 l7O). Mr.. Todd's share was de-
scribed In court as one fourteenth of two
thirds of one-ninth of two-siXteenths of the
paper, or, reduced to n simple fraction, one
! fifteen hundred and twelfth He sold it to
the clergyman on the representation that it
was worth f25 C$l25) per annum, whereas, its
actual income in 1894 was only fl7 about
$780, simple calculation l have made,
| based on these figures, shows the total
amounts distributed among the Times pro-
prietors in dividends in that year t26,OOG
(sl3O O3U From similar data given for 1893
IL seems tnat the amount ulstIlpulou was
f27, ,973 ($139 500. while in 1892 the amount
was f3G, ,2SS ($lS1 ,4iO). OF course these figures
do not represent the total net income, as
probably a substantial percentage is carried
forward each year. But it is certain that
the total net income is less than 100000
(S2OO .O0W a year. Before its disastrous deal
lngs with Forger Pigott and the era of the
Parnell commission the net income of the
Times was commonly reported to be 100000
$1,000 OGW a year, but competition of late
years has grown keener. whereas the eX-
penditures, previously liberal, have substan-
sally increased.
Some time ago I cabied to the World on
the authority of the London newspapers that
Cornelius Herr went Immediately to the
United States after the English courts re-
fused the French application for his eXtradi-
tlon on the ground of his helpless physical
condition. Rochefort has been poking fun
at both governments for this and Labouchere
takes up the subject in Truth. But it ap-
pears that Herr has only now left his rooms
at the Bournemouth hotel.
The report OF Painter Munkacszys serious
illness seems unfounded.
BALLARD SMITH.
POPE "ADNISES" THE ARCHBISHOP.
Ireland VIII Not lie Removed, hut He