The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-08-21
SOME TITLED GUINEA PIGS.
COMPANY PROMOTERS IN ENGLAND
WHO PURCHASE PEERS.

Come Up with Their Cash on the
strength of IA Name - A Species OF
brokerage in High Titles Many
Who Hold Directorships as Guinea
Pigs.
Ex-Attache In the New York Tribune.
While the barter and sale of human be-
ings stin survive in a number of oriental
and more or less barbarous countries, il is
generally supposed TO have been entirely
abolished among the civilized nations of
Europe. II is, therefore, somewhat STRAIT
ling to hear of citizens being bought and
sold in Great Britain, and these citizens
not pauDers, nor even members of what
are known as the laboring classes, but
peers of the realm, possessed of landed es-
tates, with ancestries that go back in an
unbroken line to the days of the Crusades
who as members of the House Of Lords
constitute not only the most august and
ancient legislature of the world, but like
wise the highest tribunal of the immense
empire of Queen Victoria.
This may sound like romancing, but il
is nevertheless the sober truth, and any
one who entertains doubts as TO the verac-
lily of the assertion need merely refer to
the revelations made in last week by the
former millionaire and company promoter
t1ooiey, in the course of his examination
by the presiding judge of the Court Oh
Bankruptcy in London.
From his evidence. which in many IN
stances is backed up by documentary
proof, il would appear that he was ac-
customed TO purchase people of title TO
act as directors of the companies which
ne launched, many of which have come
TO grief. The value of these titled dircc-
tors in connection with any new-1edged
company is that they serve as decoy ducks
to investors of the middle classes, who
would not otherwise embark their money
in the enterprise, but who are induced 10
buy shares on the altogether mistaken i'm
preston that the peers who figure ON the
Doard. OF management have too high a
sense of honor, and too keen a sense Of
what Is due to their name and to their
INDUSTRIOUS ancestry to stain their escutch-
cons by association with undert akings
that are in the least degree questionable.
In faet, the barter and sale of titled
personages, chiefly peers of the realm,
nave gone so far that a species of broS-
erage has been established by club and
society men, who act as dealers in per-
sonages with handles to their names,
whom they dispose of to company pro-
motors as directors. Earls, for instance
are sold al so much, Viscounts and barons
at smaller figure, baronets and knights
are disposed of for $500 or $500, ana larg-
est prices, of course, commanded by the
sale of retired judges and bishops. In
fact, the presence of bishop on the
board of directors is sufficient to extract
money from the pockets even of nom
cornformst investors
II may be said that this form of rattle
has received the sanction of the law of
the land. About two years ago case
occurred where a peer broker" sued a
company promoter for non-payment for
goods which he had furnished him in
shape of a titled directors, and the courts
gave judgment for the plaintiff, thus Civ
ing legal recognition and sanction to the
trade. The proceedings in court We're ex-
ceedingly instructive, and may help 10
throw light on the various features of tile
Hooley trial.
The plaintiff was a Mr.. De Beer a mem
Der of the bar, who admitted, under cross
examination, that he supplemented his re-
ceiptes from the practice of law by act
ing as a peer broker for company pro
motors. Belonging to a large number Of
metropolitan clubs, he was applied to in
the ordinary course of business by a pro-
moter of the name of Gavin to secure a
titled director for his "House-t to- House
Cycle Cleaning and Insurance Company"
which he had just started. Mr.. De Beer
undertook, in return for the sum Of 49,
coo, to obtain the human goods demanded
and in course of time secured and turned
over to Gavin the Earl of Westmoreland
When, however, he came to ask for the
money promised him, Gavin attempted to
evade payment. He did not deny the
contract which he had made, or dispute
that tie goods were equal to the sum
pie. But he pleaded that the delivery
of the said goods was not made until
of he ira pt laf % NT1cr
land not having signified his consent to
serve as director until after the date aD-
pointed. The Court of Queens Bench,
presided over by Justice Day found chat
Gavin had no excuse for declining TO pay
the money since he had accepted delivery
of the Earl. He had the goods and must
pay the price. Judgment was therefore
given IN favor OF the plaintiff, and the
sanction of one of the highest tribunals
in the land was thus given to the bar /
ter and sale of peers of the realm.
Lord Westmoreland, who is a brother
in-law of the Countess of Warwick of
the Duke of Sutherland and of the Earl
of Rosslyn, and who rejoices in the pos
session of the historic MOTTO me vile
fano," which may be interpreted as
Nothing Base TO the Fane"-Fane being
the patronymlc of the Earls of Westmore-
land-has until now derived but little ben
eft from permitting his time-honored
name to be thus put up for barter and
sale. Indeed no peer that the writer can
remember ever has The question was
raised once in the smoking room of the
Travellers Club, in Pail Mall, as to wheth- |
er any peer had ever-the great banking
mobiles excepted-made a good thing out
of financial companies, and no one could
recall a single instance. In the last CEN |
fury the Dukes of Chandos and of Port
land were bankrupted through dabbling /
in them, while the present century, espec- |
tally the latter moiety thereof, IS literally /
strewn with titled wrecks Of this kind be- /
ginning with the gallant Earl of Dundo- /
maid, who was before his accession to the /
peerage, and while still only Lord Coch- |
rane, expelled from the House of Com
mons and dismissed from the royal navy /
in consequence of his connection with |
financial transactions in the city-transac- |
tions 10 which he had imprudently lent |
his name without realizing his responss- !
bility.
Last year the parliamentary inquiry IN |
to the affairs az the Chartered Ctornpop.r