The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1906-06-04
WALL STREET WAS !
SHOCKED BY AN
HONEST MAN
e. s. HOOLEY VOLUNTARILY PAYS
MORE THAN MILLION IN
OLD CE1TS.
Tackled ON INTEREST
A Broker Who Failed Three Ysars
Aoo Settles Win :..ss Creditors
IN Order to vindicatc
His Man..


New York Jane 2Oid Diose el
Eawoke, 3, Turned IN h uaea u graqa anSl
broke into a smile of an,ent waeu II
was Tea mel tliat Edwin Sl ange. Ef.o-
leY. tie Broad s'rea broker Who failef
for nearly $S.a00pno faw years ara
ana settled witt hs cfadit ~ for half.
had voluntarily paid tho ofhfF mriety
# those III charged ohliaaton with q
bonus of per cent intafe o slnta.
The manner in whic.l Hool9y vlnIi
Gated his honcr and his q II amazed
checks were simply malod with short
notes tc some twea:y five aestwDiIs
creditors. The remittances were net
preceded by ronisc Of any u. nor
ACCOMPANIED bv Gambayar ,lecla II
tion. The checks were ssnl Il sne K
for themselves and tiieg ntaclai 4
to cynical Wall stta wilifa sa.il1
at ethics, n man who my + anlis
because he II honast and noi bssa
he has to.
Some pf,rer- II Ao-e-.
Henry X. McIlarg. a VA SIRE I.
who had aucl Hoo'ev $s4000q vca~s
ago. ard whrn " oraan ~ aseen,
ed 10000 IN hll rubbed his CIV 4
when he found latter ~ 4 ae4k
containing a check for slis00O Whst
had been ctagrcd p pr1at ard lssg
had proved - he ore of Ii h9s' IN
vestmeats, for re- cent Is hard q
get
Arhuclila rse'hes% ssH e'eot fer
$4,000 in lirvifati = III a s50001 dir
cha ged ohIientcn. The a~c apornt
wen 70 The Ntfo1ol'tan Trest com-
paay, fhe Manufqeture Natioral
bank, Importers and Tra lerv NafionaI
bank. National Bank ~ r~mmar "a.
Morton Trust omna-v Nat onal Tank
Of North An rica w Ham n CAGE q
Co, Nassau Trust company. Farmesf
Loan and Trust cananv Gnar'ina
comnany and the Weste-n National
bank
Mr. Hooley 1.-Two f. Plainffla. N J..
and T. a drectC III thu Firsi National
bank 'here. This insiituilca had loan
ed him 500 700. tie Bank ~ America
had trusted him W III sf5 0l0. tae N
tional Bank of Morrstown had lst
him have $50 900 Kuhn. L=eb G Co..
$4,000 and tho Nacnanic Nat'onal
bank s771S3. and the Mopdav moruing
mail of each oaghf a check for The
second half of the debt. with G per
cent inte~es for threa vcars.
Failed in 1908 foF s2.747e7a
These wiadfill nlacel Hnclay in
new light he hai fo-nerlv hen nrefi-
dent Of th Evansville & Te-ra HaWe
railroad. Once during his administr'-
tion dividend was declared th@
stock sy rocketed f1e e~c'angn aa1
.everal irsidc's wee said % havs
made big fo-tnpcs Then tha d'ra-tars
got tore her ana recon iSereh Tnev
d daclared ihoi- forwe- action hrd bee1
ill-advised and they rescin'el TIE
dividend declaration II Z wa a trick
n was q RAJ orc ana sov'e of those
who we~e neeael cgiiicisel Ho-la~.
He h1d bis snlary susrendef n hl1
ont the ioal bu, ma7y woull not be
lieve
4 whTr la or fool,c io'.-h' e~'''-ol
Of the Dcs Molaes ana Fort Dodge
railrl ad with Ire standing That
the Rock lanl ystom wou'd take It
OF h. hanfs omehodv saw a chance
70 .auee7o him. and th7 Rnck Island
declined to uu-ehase the Inc. Ths
stock touu. AID Ho0'av became EN-
bar as Cd Ifc hal raid GO for the
conrol Of IRE Evansville ami Terrs
Hauta and that declined On July y.
1903. ha faileI for S2.729 co. Most Of
his creditors were t1e above named
banks. who had been helping aim
carry ihe stocks.
In the panic tn e secur' ties were
.hro-n on the marset end finally fe-
rlincd 10 29ls almos; aalf price. The
Flowe- intcIefs for whom Hooiey hal
been he excaanee -epre entlt ye sail
Z voaid not se r eht % incrsass his
al that time ana dec'inel
be all