The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-06-09
lie was a.",Napolcon Of Finance
For a Time.
HE WAS VERY @GAYaRIRD
HE BOUGHT YACHTS. RACE
a HORSES AND COUNTRY SEATS
! IN ENGLAND WHILE HE WAS
ON ToP OF THE HEAP DEEP
WATER IN FINANCIAL AZ
FAIRS. HOWEVER, DROWNED,
e HIM. ItiSs M

4 LONDON. juno S. The markets
were mot affected by the downfall OF
Mr., Hooley, who petitloned for bank
ruptcy, as the news Of the receiving
order, lille Il caused q sensation was
not unexpected In the best quartcrs.
The last attempt 10 float Hooley bills
was o failure, although ten per cent
was offered; bot ~ Is Believed there is
Considerable OF his paper IN existence.
eItgwill be the second and third class
institutions which will suffer bv his
failure. The shares with which Mr..
sHooley was connected slumped latterly,
but the London market did not take
much share In the gamble.
Il, has. been, well known that Mr.. Hoo
LEY has been unable to find money for
the big Chinese loan which he proposed
10 float some time ago. and there was
much talk a year ago when the nu-
sthoritles of St. Paul.s Cathedral ac-
cepted from Mr.. Hooley a magnificent
4 gold communion service, Z,
8GSWithln the last month Mr.. Hooley
leased the big. building at the corner
of Pail Mall and Regent street, for
msrly the Belvldere Club. to be used as
4 offices. IS IS q .l{
To-day's petition In bankruptcy was
made BY Mr., Hooley himself, who de-,
scribes himself .'ot Berkeley Square,.
y London. RislcY Hall, near Derby and
Papshire hall. Cambridgeshire
tits said that actions aggregating
81 900, 900 are now, pending against Mr..
Hooley. and that one for s9s5, 900, which
was set for to morrow, precipltated the
4 crisis. ~ = 81 n : "a
Counsel for Mr.. Hooley. In the course
Iof the application Cor the order In
formed the registrar that a perfect run
Y had been made on Mr.. Hooleg, who, In
order to protect the general body OF
z his creditors, and to prevent his assets,
i which were We y large, from being sac
rificed by hurried realization, had
adopted the course Of applying or a re-
'ecelying order. This, counsel explained,
was done only after most enormous
sacrifices had been made upon Mr.. Hoo
sley's part. Counsel for the petitioner
further said he was not prepared to
say whether any scheme Of settlement
had been propounded. and he asserted
THAT Mr. Hooley had not personally
reaped the benefits OF large profits re-
Ssulting from his promotions. AR. Hoo
lev counsel said, had been "victimlzed
i to an extent which will be revelation
TO the public"
Mr.. Hooley was formally adjudged
Z a bankrupt. It Is impossible, at present,
Z to make any correct estimate OF the la
bllities of NJ. Hooley, but there Is no
doubt they are very large.
Among the more recent projects al
5 tempted by 3Ir. Hooley was the float
5ing.of a Spanish loan.
III The-capitals of the companies pro-.
&moted by the bankrupt aggregate from
4 s60,000,o00 to S65, COO. 600, and the shares
! In these concerns, taken as whole
+ have deprecated over forty per cent
4 since their. flotnuon. 4
Mr.. Hooley reached the pinnacle OF
: prominence in 1886 when he promoted
= the Dunlop Tire Company, and was
3 supposed to have cleared Sl2, SOC. 900 By
that deal alone. He has since been
connected with the promotion of the
Boyril company, and with many bicycle
= companies. It Is understood that not
any of the latter was profitable to the
stockholders. p
In the meanwhile, however, Mr.. Hoo
I, ley lived sort OF Monte Cristo exist
Sence, bought yachts and race horses
and nuemrous historic country seats
In January OF the present year Mr.
I Hooleg purchased the racing cutter
/ Britannia, formerly the property OF the
q Prince of Wales from John Lawson
Johnstone. During 1896 he purchased
& the schooner-yacht.. verena, from the
Earl OF .Lonsdale. Mr.. Hooley is q mem!
3 Der OF a number Of yacht clubs. 81
For months past financiers have pre-!
i dicted that Mr.. Hooley was in deep
water. e,-