The enterprise. [volume] (Wellington, Ohio) 188?-1899, 1898-08-03
BLAckMAlL AND BRIBERY.
Revelations of a London Bankrupt Show
That the Business Methods of Many Cor
poratIons are Terribly Corrupt

That the Business Methods of Many Cor
porations are Terribly Corrupt
London, Aug. 2.-The examination
of Ernest Hooley, the bankrupt com
pany promoter, was resumed here
Monday A number of lawyers were
present in behalf of the distinguished
clients who denied Mr.. Hooley's
charges in connection with the pay
ment of large sums of money for the
use of their names or for introduce
tions to people of prominence. Mr.
Hooley insisted, with few exceptions,
upon the truth of the statements he
had made. He said in regard to the
Earl of Winchilsea that the latter him
self suggested that he ought to be
given 100000 for joining the director
ate of the Cycle Tube Co. The earl,
witness added, said he could not take
the money personally, but said that it
would be given to his brother.
Mr.. Hooley said that while out driv-
ing on Sunday little man in ham
som stopped him and said: There
are 1000 soverelgns in the hanson for
you" Mr.. Hooley replied: what
have to do for that" Thereupon the
little man is alleged to have answered:
"If you will say the money you gave
Lord Albemarle was present made
after the company was fioated, | am
to leave you the sovereigns and take
your word of honor" Mr.. Hooley re-
piled: 81 told him l would punch his
head if he did not go away" Mr..
Hooley then told of the payments
which he claims to have made to
the financial editors of the Pail Mall
Gazette and the Westminster Gazette,
alleging that he paid the former in
order to keep him quiet"
Counsel for Lords War; and Abe
marie denied the imputations made
against their clients. The representa-
tive of Lord Albemarle also said his
client, without admitting that the
$4,000 was received for corrupt con-
sideration, was willing to return the
money to whoever is entitled TO re-
ceive it. When Lord Warrs counsel
had finished his denial Mr., Hooley
shouted: "Then | will show you what
/ have in my pocket-a telegram from
Lord War; and the draft of a docu-
ment setting forth what I was to say
to-day" Mr.. Hooley fiourished some
papers towards Lord War;, who was
present, and an exciting scene was
ended abruptly by the adjournment of
court.
Mr.. Hooley's revelations of the rot
tenness of London fnanciering have
thrown into a panic millions of En-
glishmen who have invested their saw
ings in the stock of companies. 1t was
a matter of common notoriety that the
small promoting journalistic parasites
fattened on company operations, but
the gigantic fabric of bribery and
blackmailing, by which boards of di-
rectors are organized by purchased
names and backed by subsidized
press-some lords even being paid to
quit the companies when no longer
needed-was unsuspected. The only
question asked is who will be the
next, and the chorus of denials, some
merely technical, is received with
cynical skepticism.
An exodus of aristocrats on foreign
tours is expected, and crop of in
vestigations is sure to result. Propo-
sails of legislation to regulate and
purify companies are already
reached.
The testimony given Monday impli
Gated many well known Londoners
whose names would not be recognized
in America, smirching some in the
business world hitherto untarnished
by suspicion.