The age-herald., 1898-06-12
E. T. HOOLEY
 THE FLUNG E

or une failure of Ernest Terah Hooley on the London Change have a local interest to at least two Philadaphians who carried his unpaid checks on the loss side of the ledger for a year or two and were surprised to find them paid one day in full, with hand some margin for protest. It doesn't much matter about them; 1t is only a local side to a wider story which has touched the financial world of London today and
 reaches out to all those interests which
 spread from a great city to the world of
 which it Is the center.
 The local part, however, can be told In a few Hines. When the Cramp boys kept the Colonnade hotel, few years ago, guest from London took a parlor suite of rooms and carried on a desperate affair Of the heart with a. well-legged young woman In Rice's Horrors Company, playing at the | Arch Street theater. He took box for the | season, and MT. Holmes took his check and he gave suppers at Finellis, then on Chest nut street, and they took his check also. and when the girl and the writer of the checks had gone-the checks came back, and fong after, when Horrors was a mem- ory, and the clean-limbed girl in 1t had gone her primrose way, MT. Hooley sent the money for his checks and was forgot ten untdl the news of his great failure was telegraphed yesterday from London.
 That winds up the local interest of the story; but Philadelphia has furnished In the person of Theodore Walton one ''plung
 er'' to London life, and this one has touch with our quiet life, so that it is not amiss to tell briefly the story of Hooley and his op- erations with a glimpse of local light, caught on the shady side of Chestnut street some years ago. A
 The present member of parliament from Tower Hamlets Is Harry H. Marks, former ly a reporter on the New York Herald, now
 the owner of the Financial Daily News, part owner of the Birmingham Gazette and happy possessor of fine estate in Kent, purchased at 960,000 He had started in New York some years ago a. daily paper in Wall street, with 'Modoc'' Fox and Fred Head as his partners, and had found in 1t suggestions of the opportunities which in a wider field similar paper could profit by. The accident of the Horrors company at the Arch Street theater and musical inter est in its elean-legged fraternity threw Marks and Hooley together at TYnelli's one
 
 News was the result of Marks and Hoo- leyS meeting. Marks had brains and no money; Hooley had prospectively some money and some brains, but when Marks and Hooley parted company the former had the paper and HooGey had besides a newly born hatred for Marks, an amount of ex- perience which Colonel North the nitrate king, made use of for a while till one day he found Hooley was making use of him and they parted. That Is short story
 apart. North had said to Marks: q am opening new nitrate beds in Peru. Are you
 with me? We'll run column advertise | ment for year." That opens the Finan- cial News" said Marks, Out where do I come in?" The advertisement ran, but the paper took hold of North by the throat and would have choked him. perhaps, if Hooley had not held 1t of, and with Colonel North's support at first and with his own brains and activity afterwards Ted Hooley took his own defined place as promoter or the Lon- don markets.
 He carried his position with a peculiar royalty of manner which won a certain re- spect in that he gave it decency, coupled with a liberality that stopped on the edge of profiigacy, but had no color Of mean ness. He had a good income from the lace house in Nottingham, which his uncles had  weight in the clubs, it was not enough to make him important in the street till he had demonstrated his capacity as a promot- CT by floating successfully transport com pany in India, mining operation In South Africa and the Mississippi lumber scheme that so favorably affected the trade of New Orleans Then he began to secure support and took up what became the marked fac- tor of his great success-the bicycle trade in England. He gathered some of It's inn khn r,rYfaTan hot sprang from insignifcance into prominence, and, departing from the custom of secur- ing names of directors who were of social distinction, sought only those who were of real weight in the financial world, and di- verted their attention from railways and
 mines to the schemes which had their ob-
 ject in profit on the lighter amusement of the day. st O..
 He quickly became the subject of personal and social interest and was soon a menl-
 Der of that coterie which embraced Lipton, the tea man, and Albert Edward, Prince of Wales He helped Upton and he gave the princes circle tips on the share mar ket that never missed fire. He made great sums of moneys, shared them with those in the swim and other friends of lesser de- gree of social importance He committed every folly but that of buying a newspaper and leasing theater for favored actress, but he did not withhold his support from either in reasonable way. He backed the Evening Star in its early struggles; he tided the Shaftesbury theater over the diff faculties which MT. Lancaster placed 1t in. He aided the Frohmans in their first the atrical ventures in London and shared the profit of the later ones. He helped Harry Marks through his parliamentary struggles, and when every one, his friends included, believed he was securely entrenched with a permanent fortune of millions on mill lions, the crash came.
 His creditors were importunate, his re- cources unavailable at the moment and the bankruptcy court offered refuge
 which he sought as last resort and en- tered on Wednesday To say this was a London sensation falntly describes the fact.