Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1904-05-11
SERIOUS CHARGE.
Arrest Of HooIey, the London
Company Promoter.
Accused Of the Crime Of Conspiracy
to Deffaud.
Meteorjc Career Of HooIry Aston'si'eo
Financial World.

London. May 10.-Ernest Terrain
uooIer. whose mcteOric career anu
company promoting a few years ago
ustonished the financial world. was ar
rcstol I'm London, Tuesday morning, Oh
the charge Of conspiracy to defraud.
IIouloy's colossal bankruptcy and the
procee Iings arising therefrom were the
sensation Of 1898. Since then he has
been connected with various promo
items. some of which led to court pro-
ceedings.
Henry ]. Lawson, another co 1rany
promoter, WAS also arrested in connec-
ton WITH the Hooley charges.
Hooiey and Lawson were subsc-
uuertly brought up at the Bow Street
police court.
Counsel for the prosecution, Which
IS undertaken Ivy the public prosecutor.
said the prisoners were charged with
dcfrauding a. ]. Payne of $5o.000 by
selling him shares of Siberian gold
mines and other worthless concerns.
Further charges counsel said, woull
probably follow.
The magistrate offered to accept bail
in $50 600 each. but bail for IIoolcy WAS
finally fixed at $4,000 with two SIRE
ties. which was Immediately given.
L.awson's bail was fixed at 100000,
with three surcticg, who have net yet
beer fou:.l, SO Lawson remains in GUS
tody.
A receiving order i'm bankruptcy was
issued against Ernest Terrah IloCl"y.
June s, 1898. IIOOlcy ut that time WAS
the biggest company promoter in Great
Britain. He WAS prominently inter-
ested in bicycle, land and meat extract
concerns, and was supposed to be
multi Millionaire. He reached the PIN
nacle of his prominence in 1896, when
he promoted n tire company, as the re-
suit of which he was supposed tC have
cleared $12 500, 900 IIOOlcy at that tinc
was living q sort of Count of Monte
Cristo existence, buying yachts and
race horses and Il number of historic
county seats. In January. 1898, he pur-
chased the racing cutter britannia
Chen owned by John Lawson john
store ana formerly the property of the
then Prince of Wales. now King Ed
ward. wlo later re-purchased the
yacht.
In 1856. HoOlcy, who was member
of n number of prominent yacht clubs
-
from the Earl Of LonSflalc.
The ann ounccmcnt of the bankruptcy
proceedings against IIocley caused Il
great SENSATION in London. though iii
the best informed quarters his failure
has been expected for some time. owing
to his inability to float a large Chinese
loan. Eventually Hoolcy was formally
adiudgcd a bankrupt. The capitals of
h,, 4 loo. II ~
to 1898 aggregated $5O,G00.000 to &c.,
900. 900.
IIooley comes from family of Not
tingham lace manufacturers When he
was % years of age. his mother left him
f175.O00 whercupon he started in bust
ness as stock broker in Nottingham
and for some time, according to q
statement made by IfoOley in 1896, he
made 100000 a year.
AS a stock broker he got into touch
with Il large connection of very rich
people and secured their confidence.
They were the great factors in the sue
cess Of the big schemes he afterwards
carried through. On August 10 last, ap-
plicatiOn was made to a London magis-
tcrate for Il warrant for the arrest of
HOOley on the charge of fraudulently
and by false pretcnces, obtaining signs
to checks and bills Of exchange amount
ing to over S65O000.
The magistrate reserved his dcci-
sion. On Aug 10. the director of public
prosecutions had been instructed to In
vcstigatc some of the transactions OF
IIooley in connection with Il sapphire
mine. situated i'm Canada.
Shortly after the death in Bellevue
hospital. New York, of Adolphu: ORA
cur of London, who had been Il MEM
Der of Parliament for Northampton II
became known that his life was insured
for about $1,0O0.O0O and that one of the
policies for S5OO,OOO was in favor OF
Mrs Ernest Tcrah Hooley. The late
Mr.. Dracur was named with the many
prominent people. including GO members
of the House of Lords, who figured III
connection with the 100 companies
which were connected with the Hooley