New-York tribune., 1910-07-23
NE "AFFA|RE R0CHET1E'
o,rarkabIe Case Has Aroused
France to Indignation.
BANKER is STORM CENTRE
-:.oncial Coup" by Men Of
u;rh Standing Leads to In
Cancellation in Chamber.
Paris. July Il

Paris. July Il.
~eire Rochette is just now on
,.,s lips. and is likely to supply
f'e ,.,-,ote Of French politics for the
H .,-ss months. Rochette is a young,
/ h.-;sine banker and company pro-
He was arrested on March 23.
.ns He had formed several stock COM
These companies were prosper
| THE nrices Of the Rochette shares
considerably. Two of the Rochette
-,r;ses. the "BanQue Franco-Espa-
snd the Credit MINER" yielded
,ssr6s OF IL per cent, and the quota
-, :, .he stock increased in proper
| zion.
pochette did business. on an average,
=. the extent of $4,000 daily Conse-
4 -+,v during the three days that i'm
/ ,,,,.,v nreceded his arrest-that is 10
/ m Thursday. Friday and Saturday
.,--cb 70. 90 and 2l-the Bourse, of
| -ss being closed Sunday-the trans
,o,s ir Rochette stocks would. under
! no--oaI conditions, have amounted 20
| .ho,,+ $4,000 But what actually hap
/ - uss that during those three days
/ .ooulissiers." or outside brokers.
ss.,iv became creditors for over $780,
| s,n --orth Of Rochette securities. This
berause 4 small group Of in
,...;5,,o1s- had sold Rochette shares a
/ ...or,arte~-tlsst is to say, had sold at
| -, ,-;ces of the days quotations shares
4 =. ,hev did not hold. but which they
| .,,,,d themselves to deliver on the
/ ss,tler'ent day succeeding March %
The coup de bourse," or stock e1-
| ,..,,rs deal. was successful. The small
--o,,r, NJ individuals" owing. il is al
| cen 10 their official or political situa-
= tnew. that Rochette would be ar
| a..od on March IS. Rochette's arrest
,,opld. Of course. cause tremendous
/ s,urnp in the Rochette shares
Tho arrest was duly made on March
4 ,q The Rochette securities tumbled like
go ~ cards. The members of the
,-oun Of individuals were thus enabled
= March % to buy UP for almost moth
\ -, ,ba shares that they had agreed 10
5sli,er at high prices after March %
| ,. .ass very neat operation The group
>, individuals haC made clear profit
1 ~ sbour $500. .00o at the expense of sew
,-al thousand small spectators VINO
rere Rochette's customers
Found to be Solvent.
Porberta was shut up in prison A
rid investigation was made concerning
tie rnmranies that he had started
Great MAS the public astonishment when
! If y-ss discovered that the Rochette en-
/ ts-prises we're all sound. prosperous con-
.lns. The result of search warrant
show cd that the safes Of the Creol'
,,-nie~ contained S22W.eno in bank
ro,es and gold and S6.ooo.eho in valid
4 securities.
reaction Of public opinion took place
= favor of Rochette. People asked for
H ., ex-faratjon for Rochette's arbitrary
arrest They wondered why 1t was that
Rechelte if guilty. with upward of sS'-
aaal0 in cash in his hands, ano ap-
r-ised beforehand Of his arrest, DID not
-un away.
The Roohette shareholders assembled
i They dema nded that Rochette be placed
- liberty because the enterprises that
r. had started were not fictitious. pu1
bans 1de cor7pa mics making honest prof.
SIS" They insisted that it was neces-
s7rv that this financier should be Tree
T. resume control Of the business IN
-hicr 7hev had invested their money
/ Tfav urged that Rochette should be per
-,i--s= -o -7lsOe matters once more on z
soid basis
But the judicial authorities turned
4 5eaY ear 70 these demands They sought
70 bring about the ruin Of ochette IN
/ order to conceal the famous coup oe
toIrse The authorities managed 10
| declare the official bankruptcy of the
,'redit Miner Now, the Credi'
Miner vas the handspring Of all the
| Rochette enterprises and supplied the
working capital for carrying on the
business BY thus putting an embargo
N the working capital il vas hoped 10
| paralyze the companies. ruin the banker
/ himself and inhict serious losses on the
Ten thousand small holders Of the Sc
4 curites, who maintained implicit con-
| fdence in Rochettes integrity and
ability