The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-06-20
NAPOLEONS OF FINANCE.
IN LONDON THESE EMIL I'M EN- ARE
HNOTy As PROMOTERS.

ShliiInE or hh hls story or Sournnl-
istio BiAClmHi In Bonuon-He SAYS nc WIN
Retrieve Bi' Fortunes Rnd tie on Ton Again.
LONDON. June 1.-THE mcteoric financial ca-
reer OF Ernest I. llooley IL tho spectacle Of tho
moment In London. Two years ago London did
net know OF Mr.. Hoolcy's OK istencc. One year
ago his wOs n name to conjure with In the
worlds financial capital. Within scarcely moro
than six months he fioAtcd successfully schemes
which drew from the pockets OF the investing
public moro than Sl25. 900, 900, with a net profit
70 himself. according to his own admission. OF
elb.ooo,00o. To-day he is In the Bankruptcy
Court and 10 the posssssor. also according to his
statement. Of not q shilling OF his own.
When Wall street produces occasionally q
Capoleon OF finance no 10 n bold operator on tho
STOCK Exchange. In London ho 10 q promoter.
Nj. Hooloy was for q few briot weeks the king
OF promotSrs. 1t was doubtful at one moment,
perhaps, which Of three men deserved the title
Barney Barnato, HorAtio Bottomley, or Ernest
ToRah Hooley. Barnato's tragic end need not
DO recalled. Bottomley, whom 1t 10 no exagrera-
tion to describe a. the most marvellous hyp-
potist OF the present day. 10 succeeding, after q
series OF startling vicissitudeS, in keeping the
onthustastto confidence OF q multitude Of fol-
loWorR, Hooloy 10 struggling with his frat dis
aston ISAy his frst disaster, because no IL still
ayounF man Of boundlesS energy and because
ANYBODY who can accumulate . fortune Of nf-
teen millions In less than a twelvemonth by his
eWn EFFORTS 10 not likely to be enaced BY q single
collapse.
A man who suddenly gets possession of mill
Iona and - suddenly loses them 10 bound to DO
an interesting personality. TerAh Hooley would
attention almost anywhere. A keen,
foroeful, rather attractive face. an abrupt. al
moso impatient manner-tho man impresses one
iheSenty a. an incarnation OF fndomitablo will
ana energy. He was born 80 yeArS ago In Der
Dysnire' bue not OF poor and humble parontA.
ElS people have been yeoman-tarmers and
landoWnorS In LOiccStorshire for generations.
ne began his business career as a stock
broker In Nottingham and oy the time no
came 70 LONDON Two years ago he had acoumu'
lated Q comfortable fortune Of about $4,000.
DoSioSS occurring flSiey Hail. nne estate near
Oeroy' Meoe OF Ms property was made In CON
hsotion Win the HUMBER ana other bicycle
companies ne brought these substantial prontS
70 London In order TO undertake bigger opera
Eono Tran were possible In the provinces.
HIS nrot great venture was the buying mp Of
sho dunlop and other tire compa-
hioo. De organised . Syndioato ana purchased
the businesses for p~15.Ooo,OOO and promptly re-
heated thom at S2o'Ooo,ooo. Tit public sub
SoTibed the money moro than twice over, and
Within . Tow monthS the prioe of the S5 deferred
shares was $3.50. The present. quotation 10
$500. His other great hotations were Bovrn
~ 412IooO,oo0 and EnEISh Sowing Cotton al
V1aboo.ooo. Dozens OF nmaller bicycle and
other industrial concerns were offered to the
public and eagerly subscribed In rapid success
sion. HIS latest and GreAteSt ventures were
fanureS. namely, his attempt to obtain Q con-
tFaos Tor . ChtneSo Loan OF Seo,ooooO0 and an
onort 70 hoAt . Spanish loan at about the lime
the present war began
AZ for his methods and his moral responsible
ity to investors In his scherne1. or the lack Of ii
MN Hooloy has been talking with the greatest
franknesS since tho crash came, three days ago.
bor instahooi
"WhasA have done In the way OF company
promotion Sinoe the spring OF 1890 10 Q matter
OF public notorioty. have handled altogether
e2e.ooo.o 600 worth of property. making . pront
OF es.ooo.ooo I have worked an average Of
eixteen hours q oAys ana l have not had three
aaya holiday. / nave always acted In the most
1traiehtiorWaro manner. and no matter what I
nave oeen concerned IN! haVe always thrown
my oaFon upon sho table for every ono to SEQ. I
nave eaao' here 10 properly Tor which have
paao oomuoA' am onoringit Tor 90 much and
make 90 much DrontI'
nEefytn1heA a1Te done mas oeen open and
ABOVE BOARD. Thero mas been NO failure OF any
OF the companies ! nave promoted, but have
been Obliged 70 seek the protection OF the Bank
number OF sosOnS thai have been brought By
oiSeontented harehoidsrH.
~ oouos Sou Ane" 'hHo In the ventures In
WHOM nave oeen engaged nave not worked
elone' 1neFc mas Always Oeen syndicate and
!haVe hHo ~ sorts OF people with me, from tho
h9heSslh tne lana 70 tho IoWeSt. l nave boon
me61ng tne DunAncSS ana tney nave Been taking
inc prom: no" tHey nave tufnea their backs
on me ana le1s mem me Inron' and ! Am going
70 sho" the puDne'e1acuy no" 1 have boon
uSeteo'
man pee&nIsmoney In gold mine. and
tho enSreS oo"n 70 e-So no DOESN'T SQUEAK
= no gees mo an ndustrael company and
eeMectoES pay the i0oi' nothing Satisnsshim
-Yhon y0u 1Vokno" directors TO play the
Iool.I
.Some Ok ny companies nave peen grossly
WlsmanGSec. Ashas notninG 70 az with me. 1
am simply he promoter.