The Kalispell bee. [volume] (Kalispell, Mont.) 1900-192?, 1901-01-08
Hooiey Failure Recalled.

Inc COlldpSe Oh me lAoliuoA anu
Globe Finance corporation of London
is the greatest financial failure that
has taken place in the London mar
ket since the sensational crash of Ern
est Tcrah Hooley two years ago.
HoOley's story is the story of the
a mushroom. He is the
son of wealthy lace manufacturer in
Nottingham, and at his mothers
death was left a fortune of $15O,OO0.
But lace manufacturing was not to
his liking. He left school at the age
of 13, and soon drifted into stock
brokers' office. Then, on attaining
his majority, he became an indepen1-
ent broker in his native city. Since
that time he boasts that he has never
made less than $4,000 year.
In 1895 he went to London and be
gan the meteoric career that made
him the observation-disclosures in all
Europe. The organization Of the
Dunlop Bicycle Tire company was the
feat that proved his Midas touch. He
heard that the company was anxious
to sell out and he obtained an option
for $1O,OOO,O 900 for one week. Then he
organized a syndicate, bought the
property for $10.00O,000, and two days
afterward sold it to his own syndicate
for twice that amount. All his
friends made comfortable fortunes out
of their investments.
| And then. as though playing with
millions were his recreation and not
his business, he organized the Bovril
Extract company in the same way,
reaping fortune on the deal. The
Swedish Tube company and innumcr-
able smaller concerns were all maniD-
ulated to pour their golden streams
into the Golfers of this remarkable
young man. Yet with all this wealth
and it's attendant responsibility he
scorned to hire a clerk to keep his &C
counts.
Everyone remembers his eXtraya-
giant expenditures of money for his
toric country seats, yachts and fast
horses. His purchase of the homes
of penniless mobiles aroused the ire
of the aristocracy and he was hated
by them as only they can hate. When
he dined with the Prince of Wales, and
the royal family at Sandringham the
| l., .Je,
But Hooley had given $2,000,000 to the
queens jubilee fund for the poor, ant
his place in the royal favor seemed
secure.
When he came to grief he had pro
: NOTED companies which had an ag
= gregate capital of from $6.000,000 tt
$65 900 900. After gigantic dealings
in bicycles, beef extracts and othc
l. useful articles, of which he obtaine,
n a monopoly, he doomed as philan
t thropist. The Hooley communion
n plate was accepted by the authoritie
= of st. Paul's cathedral, who however
thought it best subsequently to retur
the magnificent gold dishes to tn
lIooley estate.
In his bankruptcy examination
p. came out that he had given $4,000 t
the Carlton club in the hope of oil
tanning a baron's title through this al
" to political party, but in this cas-
N also the check was returned. Fou
no fr,- t,fn III, 10, -,
ID proprietor of the first rank One ;
these he was able to retain.
just before the war with Spain NJ
=" Hooley formed an enormous syndicat
il for the purchase of Cuba. The CAP
IL tai was to be some $2OO,O0O,0OO.
" is said that he had offered to flo.
~, 100000 loan for the Spanish go
eminent and $75,OOO,OOO loan f,
china only a few weeks before he w;
H. formally adjudged a bankrupt.
Ill The hearing of the case is not y
Is forgotten in England. Earls and lori
Is were dragged into court and indulg,
az in much washing of soiled linen. TT
he penniless aristocracy, though OF
M wardly scorning the wealthy cockno
''' had evidently not hesitated to sto'
10 almost to degradation to share Il
a' benefits of his millions.-Chicai
Chronicle.
NE --------
ots Life of Century Ago.
Memphis Commercial Appeal:
One hundred years ago a man COZ,
1l1r