The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1898-08-02
A0OLEY'S REVELATIONS
Have Thrown Into a Panic Millions
Of Englisbmen.
AN EXODUS OF ARIsT0ORATs
Is Expected as Result OF the Expose,
and a Crop of Investigations Is suro
to Result-How "Noblemen" Aided
1 in Bleeding Investors.

to Result-How "Noblemen' Aided
in Bleeding Investors.
London. Aug. 2-Mr. Hooley's revela-
tions Of the rottenness of London finan-
ciering have thrown into panic mil
lions of Englishmen who have invested
their savings in the stock of companies.
1t was matter of common notoriety
that the small promoting journalistic
parasites fattened on company opera.
tions, but the gigantic fabric Of brib-
cry and blackmailing, by which boards
of directors are organized Of 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 denials, some
merely technical, are received with
cynical skepticism. Ansc exodus of
aristocrats on foreign tours is expected,
and a crop of investigations is sure
to result Proposals of legislation to
regulate and purify companies are al
ready broached. In the meantime the
promoting Napoleon, turned informer,
mounts the pedestal as popular hero
People are forgetting his share of
the responsibility for the system he
exposes. the crowd in court applaudins
every time he scores off nobleman.
Yesterdays proceedings were filled
with with dramatic episodes, especially
the revelations Of attempts to bribe
Mr.. Hooley to perjure himself by with
drawing the statements he made at the
last examination.
The testimony given yesterday i'm
plicated many we'll known Londoners,
whose names would not be recognized
in America. smirching some in the
business world hitherto untarnished by |
suspicion. One of the gravest charges
was the story of the dealings with |
Lloyds' bank, where were deposited |
$4,000 shares of the Singer company. !
The day Hooley went bankrupt these
shares were transferred. He swore
yesterday afternoon that he never |
transferred them, and that the cer-
tifcates used were signed in blank for
another transaction.
Among his alleged dealings with the
Earl of De La War; Mr.. Hooey as
serted that the earl tried to sell him
an estate at Ialsingden. representing
that it contained 1000 acres Mr.
Hooley said: II promised to take it,
but when l sent my agent to see the
property he found there were only
loo acres. had to pay De La War;
10000 shares Of the Trent Cycle COM
pany to get him to let me off the bar
gain"
When replying to an interruption, he
denounced the speaker. eXclaiming
Dean, Harrison Davis and Beall are
three of the greatest backmailers in
London" He was tremendously APP
plauded for this retort.
At another point of his testimony Mr.. /
Hooley said he promised Lord March
G1OOO and G1,OO0 yearly for joining {
the SChweppes' board, that he paid Mr.
Adolphus Drucker. the Conservative :
member of parliament for Northamp |
ton. C. 2,500 and Sir Blundel Maple G1.-
500, by repurchasing their shares at t
enhanced prices. c
The witness afterward said he paid Il
Lord Walter Lennox for introducing
Lord March and Lord Templeton, and 7
promised him $500 and G5OO yearly /
for serving on the board of directors,
"Ho' hpN'Nti' I'ttSSh " '1Ih'' ~ |
so he paid Lord Templeton E70O for /
q
incidentally Mr.. Hooley mentioned =,
having purchased the Prince of Wales
racing cutter Britannia for Mr. Law S
son Johnstonc, and said he had to keep
the yacht because she had not met his o
expectations. :,
Counsel for Lords De La War; and
Albemarle denied the imputations made +,
against their clients. The legal repre- d
sentative Of Lord Albemarle also said
hat his client, without admitting that
The E9Oo0 was received for a corrupt q
was willing to return @
he money to whoever was entitled to
'eceve it.
When Lord De La Warr's counsel -
lad finished his denial Mr.. Hooley
shouted: Then | will show you what
have in my pocket-a telegram from II
Lord De La War; and the draft of a !
document setting forth what l was to
Jay today"
Mr. Hooley foUrished some papers
owards Lord De La War; who was
present. and an exciting scene was
nded abruptly by the adjournment Of
he court.