The times. [volume] (Richmond, Va.) 1890-1903, 1898-06-10
WAS A FAMOUS
SPECTATOR.
Failure of Mr.. HOOIey, the London
Company Promoter
MADE FIFTY MILLION IN A YEAR.
The Most Picturesque Figure in En-
glish Speculation Since the Days of
Barney Barnato-He Had the
Confidence of the Public.

LONDON, June S.-A receiving order
was issued by the Bankruptcy Court this
morning against Ernest 7. Hooley the
millionaire capitalist and company pro-
moter. The order was issued upon
Hooleys own petition.
The bankruptcy of Mr.. Hooley caused
a sensation here. 1t fills the papers and
is talked of everywhere. His failure
caused no surprise among city hnanciers
who held aloof from his ventures since
he plunged into a sea Of litigation
The magnitude Of Mr.. Hooley's oper-
atoms can be judged by the fact that
during the last two years his promoters
were capitalized at over SloO00O.Vo 1hey
include seven bicycle companies. headed
by Dunlop's, and also the great Industrial
companies. such as Bovril. Schwepp
Sode and the English Sewing Cotton.
Mr. Hooley used 20 express contempt
for the London Stock Exchange and for
city men. lie conducted his operations
when i'm London from the Midland Hoo
tel. An inquiry there to-day ELECTED the
answer that Mr.. HOoley with his stan,
had left. Mr. Hooley Is the defendant
In impending lawsuits involving claims
OF over % 100000 The shares Of the COM
panies promoted by him were but slight
~ affected Some OF them had depre-
ciated IN value 40 per cent. in the last
few months. His connection with seve-
raj OF these companies ended with their
promotion
Many OF the public were favorably i'm
pressed with Mr.. Hooley's bluffness, as
when. at the time of the notation OF the
Dunlop company. he said: II have given
1900 900 for this business. Ny price to
you Is 1900 Co.,"
The solicitor who presented the petition
for a receiving order promised 20 make
interesting revelations. He suggested
that the reason for the application was
20 protect the estate for the oona-fide
creditorsagainst the enormous claims Of
certain individuals who have been VIC
Thinking Mr.. Hooley.
A remarkable consequence OF the bank
ruptcy Is that the gold plate communion
service that Mr.. Hooley presented 10 81.
Pauls Cathedral I'm June 1897. must be
delivered 10 the receiver who will wind up
the estate. for the law voids all settle
ments made within two years OF bank
ruptcy.
Mr.. Hooley dealt largely in landed -
tates. and he sold on 10 the Prince OF
Wales. He was the Conservative cain-
Qldat9 at llkeStOn lOF the House OF COM
mons He Is devoted to hunting and
yachting.
Since the death OF Barney Barnato. the
most picturesque figure in English specu-
lation has been Ernest Terah Hooley.
He is said 10 have made more than $780,
10000 in one year. and earnings almost
as great have resulted from some OF his
transactions. He was a promoter" in
the largest sense that the world OF busT-
ness had ever known such a figure. He
is about thirty-eight years old to-day
and commenced life in the lace mills -
Nottingham. He went to Ilkstone whm
he was four years old and remained
there until he realized that his business
ambitions couldnever dissatisfied In mat
limited field. He had left school when
he was thirteen years old. but se had
acquired a strong constitution as we'll as
an elementary education, for he had 70
walk eight miles day 20 school. He
never knew poverty. for as soonas he vas
a man his yearly income was about
SIS. 900 and this came not alone from mis-
own efforts. as his mother had left him
a fortune OF sl65. 900 at her death. so his
RIA TO great wealth was not from the