Omaha daily bee., 1898-07-28
HO0LEY WAS A HIGH FLYER
Expended Money Right ana Left In
Bribing the Nobility and London
Editors.

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Copyright, 1898, by Press Publishing Coz
LONDON, July 27.-(New York World
Cablegram-special Telegram. )-Ex-Milion-
aire Ernest 7. Hooley was examined in the
London bankruptcy court today and gave
the first authentic particulars Of his brib-
cry of the London financial newspapers for
favorable notices Of his joint stock fota-
tions. Hooley attributed his failure to the
action of his partner, Rucker, who drew
100000 out of the business in fifteen
months.
Hooley's payments to peers for using
their names as directors of his companies
are the most sensational features Of his tcs-
timony. Earl Delaware, he said, got $780,
900 for becoming chairman of the Dunlop
Pneumatic Tire company and the earl of
Albermarle got G12,0O0 for becoming a di-
rector in the same company. He paid the
two stockholders of the highest standing
$4,000 each for allowing their names to
go on the prospectus, and he gave two
firms Of solicitors, also of the highest repu-
t%ation, 100000 each for the same service.
Hooley swore that It cost him sea, 900 to
Square London newspapers in connection
with the Dunlop f~otation. His intermediary
in these transactions, he said, was A.. NJ.
Broadley, ormerly on the London World,
but who left London hurriedly some years
ago in connection with an odious scandal.
Broadley got G10, 900 for his services.
The Financial Post published an an
nouncement to it's readers: Don't buy
Dunlop shares until you read the Financial
Post of Thursday next
Then, Hooley said, two proprietors of
that paper called on him and informed him
that he could write the editorial himself If
he paid them Ell, 900 each. He said he paid
the money and wrote the editorial.
Harvey Marks, the New York editor of
the Financial News, got a present OF $50
900 from him, Hooley said, and ut was not
for keeping his paper quiet But Hooley
did not say what the service was. He gave
options on a large number of shares to the
advertising agents Of various papers at half
price. He did not mention the names of the
papers they represented, but he promised
to do so when the examination is resumed.
The gross profit in the Dunlop fotation,
Hooley said, was Ell, 700, 900, but this was
reduced to a net profit of E200, 900 by the
payments made in all directions to assist
the ~fotation on the market.
The earl of Delaware, he said, was paid
$4,000 for introducing Lord Greville as di-
rector, and Hon. Alister Hay, one of the
best known men in London society, got
10000 for introducing Lord Norbury for
the same purpose, while Norbury himself
got e1, 900 for allowing his name to appear
on the prospectus.
The duke Of Somerset and the earl of
Warwick were the only titled directors who
received nothing, according to Hooley's
statement, but he said that 100000 was
paid to Warwick's solicitors for introducing
him.
1t is quite plain that Hooley has only
4 lifted a onrnp~ nf tha n,,rtot hut 10 ,u,ll
be forced to make a full disclosure, as the
whole respectable press of London demands
it. He did not enter into the particulars of
his bribery transaction with the late fl
nancial editor Of the Pail Mall Gazette (As-
tors paper, but that also is to come. The
revelations have created a tremendous stir
and they are considered a fatal blow to the
use Of titled directors as decoys by company
promoters.