The times., 1897-05-02
NEW LONDON FORTUNES.
The Great Sum Amassed by Ernest
L HooIey

London, April z4.-Not since the days of
the bonanza Kings and Goal Oil Johbny.'
has the world seen the making of such
wonderful fortunes as those which have
been gainedon the London Stock Exchange
in the past fourteen months. The shuttle of
wealth has been almost incredible. Stock
exchange messengers and clerks, who a
year ago were considered happy on a
maximum income OF thirty sfsillings a
week, which Is $3.50, have suddenly be-
come metarnorphosed into the possessors
OF unheard-of fortunes, and, en- the other
hand, solid and puIse-proud merchants and
brokers have tasted fer the first time / n
tneir lives the bitterness and cruelty OF
poverty.
The EnglishIDan is, above all things, q
gambler. The conditions under wnieh he
lives make II necessary that ne should te
So. There are no corner lots Ia England,
and there is no real estate exchange in
which legitimate means OF barter Can De
established. THERE'S so much money afi1at
and the people are 10 speculative by nar
ture, and so eager 70 increase their wealth
that the only recourse left for them II th G
Stock Exchange The results that ardI y
single day passes on which the British
public is not swindied out OF thousands
OF pounds, and the more they are swindled
tEe more eager they seem to throw th cir
hard-earned money into the maeisrrom Of
the city or London.
The past year has probably been the
worst, so far as reckless gambling is con-
cerned, that has occurred since the South
Sea bubble. More people have been ruined
and more have become almost phenome-
nally rich the happy days ofArgentina not
excepted now this great and wealthy
nation lies painting for breath like an over
fed python, having swallO Owed more stocks
and shares than it can possibly digest.
1t is natural when such conditions as
this arise that there should be some men
to reap the harvest which las been so
reckIessIy sown- Common gamblers are
many. Goal Oil johnny was common
gambler Jabez Balfour was another. So
was Baron Grant, the memory or whose
deeds crops up every now and then in the
bankruptcy court.
We have had so much of this everyday
stripe of money maker and money loser
that nowadays it requires absolute genius
to attract the atten ton of the world, and
this has really been accomplished by a
man who, few years ago, was an unknown
and unappreciated lace manufacturer OF
Nottingham. His name is Ernest Terah
Hooley. He has made $50 GOO 900 in less
than one year- He has enriched his friends
by more than double that SUN in the same
time. He has become a worid-famous nan.
The city of London is at his feet. His move
rnents are chronicled like those OF 70 yalty,
and he has managed TO make himself rne
OF the most conspicuous beings in Europe.
And all because he Possesses an adamantine
nerve which has probably seldom been sur
passed.
Two year sago Hooley gave up his lace
business in provincial and antiquated Not
tingham and began to dabble in the local
stock market. He was not a poor man a nd,
in fact, has never known poverty. He says
that he has always managed to make Si5,-
900 or $50 ,0200 year ever since he was
twenty-one years OF age, and he is now
thirty eight. His first year in the stock
market netted him over $780, 900. Even an
ordinary ambition. it seems TO me, would
be freddy such q remarkable achievement.
and Hoolcy's ambition, as VIII be seen, is
most extraordinary.
Nottingham seemed to afford few oppor-
tunities for a mind of his nature, and the
natural sequence was a move 10 Capel
Court, the London Wall Street Arrived in
London, he had no sooner furnished his
office and put his desk in order than he
made straight for the highest flights of
financial operation. The world was star
tied one morning to learn that the Dunlop
Pneumatic Tire Company had been pur-
chased by syndicate for the sum of $20,-
5000, 900 This was an enormous price,
even in these days of gigantic figures, but
the surprise occasioned by the purchase
was nothing compared to the subsequent
shock when il was learned how the deaI
had been carried through. No other man
in the city of London could have done
this save Hooley. An idea OF his person
ality, his manner and his mode of opera
tion can be had from the way in W hich he
engineered it.
The Dunlop Company was willing In sell
out Hooley obtained from it an option Of
purchase OF S1O,00O,0OO for one week.
Then he employed every possible means OF
communication TO notify his friends and
associates that he wasin deal to purchase
the Dunlop Pneumatic Tire Company; that
it would be the greatest financial success
OF the year and that ne wanted ther var
ious signatures Co help him in the pur-
chase The result was that in two days
Hooley exercised his option at 81 G, ,00o, 900,
and on the thirdday Y he turned the property
over to his friend and associates for the
sum of 10000, 900. little transaction
which netted him exactly S10.000,000
without ever causing him TO put his hand
into his pocket for single shilling. This
course may giyethe initiated theimpression
that Booley's friends and associates had
been made use of to their frequent dis
advantage, but the subsequent profits made
by the company have been so large that
every man who invested penny in the
stock has expressed his unbounded conf
dence in and gratitude TO the daring
promoter.
Again, there was the Bovril Company.
Hooley's tactics were exactly those that
he had made use of in the purchase of the
Dunlop business. Bovril is a sort of beef
extract, enormously advertised here for
many years He obtained an option for
Bovril at three days for So. SOC. .0uO.l The
next morning he sold t to his friends for
$5,00O,000. -
The rush in the bicycle business createda
demand for tubes. Coventry was simply
crying out for them The cycle industry
was at a standstill because there were
not enough tubes to go on with. Mr. Hoo
ley heard of this and sent an agent to
Coventry to secure orders for tubes. No
one knew how or where he was to procure
these tubes, but, inasmuch as Hooleys
name was mentioned, it was deemed sat-
isfactory, and the agent secured a large
and valuable business.
Without further delay the British public