HOOLEY'S BANKRUPTCY

Waikato Argus, Volume V, Issue 321, 30 July 1898, Page 2

HOOLEY'S BANKRUPTCY

SENSATIONAL STATEMENTS. COMPANY FORMATION EXPOSED. (BY ELECTRIC TELEGRAPH.—COPYRIGHT.) London, July 28. Mr Hooley, under examination, deposed that his partner Pucker received £478,23-1 between September, 1595, and December, 1596, though he put only £3OO cash into the business. The gross profits on the Dunlop tyre deal were £1.700,000. Hooley's share was £200,000. It cost £IO,OOO to obtain the names on the front of the prospectus. Lord De la Warr received £50,000, handing Lord Albermarle £12,000 ; the Duke of Somerset got nothing. A list of newspapers as long as his arm received money. He mentioned the names of the Pall Mall Gazette and the Financial Post. He said he had mislaid the list. He paid the Financial Post £ISOO for the privilege of himself writing one article. He paid Broadley £IO,OOO for managing the press. He admitted a heavy payment for remarks in connection with share transactions. He denied that he designed to keep the Financial News friendly. The press calls for shares cost the compsny £63,000. LordDe la Warr received £11,300 for joining the French Dunlop Pneumatia Company and persuading Lord Albermarle to joiu. Earl Winchelsea was paid £IO,OOO for becoming chairman of the Cycle Manufacturers' Tube Company. Many thousands Avere paid to Lords Deerhurst, Do la Warr, Ashburton, Warwick, Norbury, and other titled personages figuring in the prospectus of the Siuger's Company. George Singer obtained £IO,OOO for acting as director, and Lawson Johnson £'50,000 for selling the Bovril business and becoming director. The statement caused a sensation.