The San Francisco call., 1899-03-10
BRIBERY IN BUSINESS CIRCLES.

,HILE we are busy engaged in devising 1egis-
NX laton to put an end to bribery in politics the
4 British arc trying to find some means OF check
ing the practice in business circles bill for that
purpose drawn up by the Lord Chief Justice has been
submitted to Parliament and has been favorably re-
ceved although some of its strongest supporters are
doubtful whether it will be sufficiently effective to put
stop to the practice altogether
The movement is an outcome of the scandals con-
nected with the Hooley bankruptcy case. 1t will be
remembered that the evidence given by Hooley dis
closed the fact that he had paid out large sums OF
money to nobemen and other digntares OF repute to
induce them act directors in his various specu-
ativc companies These dignitaries served as decoy
ducks for the public, and by reason OF having their
names the willy promoter able to sell almost any
kind of stock at high prices.
Further investigation OF the subject showed that
HooIey was by no the only adventurous specu-
lator who practiced the art OF getting prominent men
to give the sanction Of their names to risky enter
prises by paying them large OF money. In fact
it appears that for long series of years British pro-
moters have been using dgnitaries to boom their
schemes in much the way that actresses and
opera singers are used in this country to advertise
soap or complexion powders. The deception thus
practiced has been carried to a point where it
amounts to downright fraud and as in the opinion Of
the Chief Justice the law present is capable Of
dealing with the evil, new legislation is asked for.
The London Chronicle, which, with the British
press generally favors the bill and recognizes the
need OF remedial legislation, does not, however
pec it to be wholly successful 1t says there many
ferns of business bribery which hardly be reached
by law, and cites two as examples In one OF
these a gentleman of high social standing given
position at good pay in a company, and was
then required to make with his wife summer holiday
visit at the seaside palace of the promoter. In the
other case of rank induced to assist in
the promotion of various companies, receiving there
for nothing in the shape of money, but astonish
ing amount of Jewels and other valuable presents
Christmas time.
It would be difficult to prove bribery or fraudulent
intent in these In the first appeared the pro-
moter simply desired social recognition for his wife,
and in the other there nothing more than
Christmas remembrance shown by merchant to a
good customer. Many other illustrations might be
given of forms of such practices which law can
reach and yet which effectually serve to enable in
genious rascals to get into society and from that
vantage ground delude the public
Notwithstanding the many forms OF the evil which
the law cannot reach the Chronicle holds it will result
in considerable benefit, for it says 1T will catch
great army of corrupt agents and buyers and of the
equally corrupt firms who bribe them. 1t is, in fact
bill to punish bribery in business life and if
it does not destroy that nsdous evil it will largely
circumscrbe its range"