THE HOOLEY DISCLOSURES.

Auckland Star, Volume XXIX, Issue 177, 29 July 1898, Page 5

THE HOOLEY DISCLOSURES.

HOW COMPANIES ARE BOOMED,

FANCY PRICES FOR TITLED NAMES. LONDON, July 28. Mr Hooley, under examination, deposed that his partner Rucker received £478,234 between September, 1895, and December, 1896, though he put only £300 cash into the business: The gross profits on the Dunlop tyre deal Avere ■: £1,700,000. Hooley's share was £200,000. It cost £10,000 to obtain the names on the front of the prospectus. Lord De ia Warr received £ 50,----000, handing Lord Albermarle £12,----000; the Duke of Somerset g-ot 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 £1500 for the privilege of himself writing one article. He paid Broadley £10,000 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 company £63,000. Lord De la Warr received £ 11,300 for joining the French Dunlop Pneumatic Co.,and persuading Lord Albermarle to join. Earl Wihcbelsea was paid £10,000 for becoming chairman of the Cycle Manufacturers' Tube Company. Many thousands were paid to Lords Deerhurst, De la Warr, Ashburton, Warwick, Norbury, and other titled personages figuring in the prospectus of the Singer's Company. George Singer obtained £10,000 for acting as director, and Lawson Johnston £ 50,000 for selling the Bovril business and becoming director. The statement caused a sensation.,.