New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-08-13
HOOI.EY'S EARIS.
THE PROCESS OF EXPLOITING m
DUsTRIAL COMPANIES on THE
PRINCIPLE THAT AN IN.
VISITOR LOVES A LORD

in n small stuffy courtroom. ana are attended
mainly by lawyers and journalists: but In a few
hours everybody IN town and country IL read.
ing a detailed report OF the proceedings ana
revealing In pure sensationalism. This weeks
performance was highly dramatic The bank.
rupt had placed large number OF 'itled d.
rectors and men II fashion upon their defence
by charging AT the previous examination that
he had scattered his gold among them IN the
davs n; his prosperity as a company promoter
Thore had been n black cloud Of disclaimers and
denials from Mr. Hocley's earls and benehciares
and some binding Clashes NJ truth were ex.
rected in the dlngy courtroom. Flashes ~ In.
tense light there were. but tho mystery envelop-
ing curren. methods Of company promoting was
darkened and deepened. great swarm Of
buzzing barristers protested that their distn-
guished and gded clients had never sold either
their names or their sacred honor, and that
their pockets had never been lined with Hooley
money. The bankrupt listened with signs Of
Impatience and rapidly plunged into refu'a.
ton Of the discriminating denials and explana-
tons ending by enlarging his black list and BY
asserting that ne had been ofTeIei oribes com.
nit perjury.
Justice must he done to Mr Hoo.ey in at least
one respect. His revelations have been made
under cc,npulsion lie has not accused HE
forced by the Registrar TO make a clean breast
Of his Intricate and mysterious TRANSACTIONS;
and since his charges are steadily increasing IN
gravity as well az piquancy. he has laid bare
public scandal which will have to he thoroughly
investigated. HIS manner as a witness is neither
theatrical nor malicious. He speaks In low
tones and seldom shows signs OF either bitter
hess or passion. He Is apparently sincere IN
his expression Of regret that he should De COM
PEELED to incrminate so many CT his FINANCIAL
clients and no is certainly emphatic In his dec
laratlon that he is eager for cross-examinatioa
on all questions Of fact.
"sorARING" NORLEMEN.
The burden Of Mr.. Hooey's story Is that n
carrying on the business Of buying industrla
companies for three millions and selling them
FOR five millions II was necessary Tor MIN 10
SQUARE" the noble and honorable directors
whose names were required for the front page"
Of the prospectus Few OF these gentlemen
seemed to entertain the old-fashioned notion
that a director occupied position OF trust and
represented the interests OF shareholders and
investors. Most Of them had the new-fangled
idea that their names would be worth good
deal to a company which was over-capitailzed
on a purely speculative basis. and that they
ought 10 be paid something handsome for ad.
yertising the enterprise on the front page"
| Not only had some Of the directors 10 be pur.
| chased In this way but other gentlemen IN
smart sets In good society had 10 receive com.
| missions for procuring good drawing names and
| introducing tn .r patrons or confederates to MI
Hooley's notice. II was. moreover. necessary In
the course Of these financial transactions 10 have
a large secret press fund. and 10 buy up city
editors and professional blackmailers. All these
were Incidents In the regular business OF sue
cessful company promoter
Mr. Hooey's recitals have compromised a
| greater or less degree a good many people whose
| names constantly appearing in society Jour-
nails leaders Of fashionable sets. Much Old
| time prejudice remains In England against trsi.
fc in personal honor and betrayal ~ public
trust. and the titled directors and fashionable
brokers dealing In high-toned names have fallen
under what thy consider a cloud of unwar'
| rantable asperslons II may be we'll to refer Ia
| detail TO some OF these names:
| EARL DE LA WAR;. This is the eighth Earl,
| the title having been created in 1881 but the
family is one Of the oldest and most distin'
| ceved his title In 1909 The present Earl Is In
his thirtieth year. and succeeded his father two
years ago. his wife being daushter Of the first
! Baron Brasscy. He owns about 1900 acres.
has country houses near Tunbridge Wells and
Bexh- House. and Is member Of the Carl.
ton and Marlborough clubs. His uncle and heir
adventures during the first Cleveland Admins
! traton have not been forgotten either In Amer
| lea or England Mr.. Hooley has stated unler
oath that he paid Earl De La War; f23po for
the Dunlop prospectus I'll 300 for French Dun.
| ops $4,000 for Singer cycles. and an additional
| amount. not named. for Bovrils. His name was
| used on the prospectuses Of these companies
! On his REORGANIZATION Mr.. Hooley asserted tnet
! he had been approached by two respectao's
offered fl 900 IL he would contradict his former
statement and explain that the money re ;rived
| BY the noble Lord was not given as considers
ton for Joining the boards. but only as pres
emit Earl De La Wars legal representatives
have traversed this statement.
EARL OF ALBEMARLE.-This Is the eish0
Earl the title dating from 1896. He Is IN nn
forty first year and succeeded TO the tue lous
years ago. His wife is a daughter OF baron
Egeron OF Fulton. He was In the House ?.
Commons for two years but has peen m na.,:.
| conspicuous a man OF fashion and sports.
! man. being interested in yachting. hunting ana
racing He IS member OF the Carlton. Guaros,
original charse was that f25 900 had been paid
| for the use OF the Earrs name IN the Du,oy
| prospectus The Earl has authorized as
claimer. but apparently has admitted nas.ns .,o m
posed that II was the outcome of other tra xs.
nctons Mr. Hooley in his REORGANIZATION nss
declared that he was offered tlWo II ne wou w.
withdraw or modify his charge against nv nv
Earl This allegation Is denied by inc r"''
counsel orr,So
HAM-This Is the twelfth Earl under the nts.
and the seventh under the second titie' anu 80
man OF distinguished lineage ne Is III =" AZ
| forty eighth year having taken high RANK ~
Ralliol College and having served for TWO S na,,
In the House OF Commops He owns about
- 600 acres. has two country houses and
London residence In Bedford Square: ana Is ~.
r,ember Of the Carlton Club and OF White s. o, ne
was vaguely charged by Mr.. Hooiey o WIN IL 'c ON
responsible for payment OF tl"M" M "a nros.
necton with the use OF his name on the prus.
pectus Of the cycle Manufacturers TUBE lin 80 "a
many although the money might have gone ~
rmiddi.men Ills solicitors repudiated the ac'
cusation. but Mr. Hooley on his Ie-exatnna laid
produced check for 5000 which ", was as pdi
10 ,hat b,s solicitors acted on their own respUu
sbilty and did not consult him before ,s..
| thair dIscla Inler Mr.. HoOleys revlsed ve an