Jasper County Democrat, Volume 4, Number 15, Rensselaer, Jasper County, 20 July 1901 — THE LUXURY-LOVING HOOLEY. [ARTICLE]

THE LUXURY-LOVING HOOLEY.

Since Hl* Bankruptcy He Haa Been Llrinr Kxtravauantly. It 1b now three years since the failure of B. T. Ilooley, wliose estate bus yielded so far only 50 cents in the pound to his creditors. In view of the magnificence with which this splendid bankrupt continues meanwhile to enjoy life, inquiries have been made as to the future prospects the estate offers. George Hardy, a member of the bankruptcy committee appointed by the creditors to act under the supervision of the board of trade, when questioned as to the outlook for creditors, expressed the belief that the estate would yield another 2 shillings in the pound in the course of a few months, and was exceedingly pessimistic as to anything beyond that, says the London Mall. “Mr. Hooley bears his creditors’ misfortunes bravely, does he not T*

*Tn what way?” “He still lives at the rate of a few thousands a year?” “More than a few thousands,” replied Mr. Hardy. “He has, besides his suite of rooms at Walsinghana HouSe, his two country seats—Papworth Hall and -Rlsley Hall. Why, he pays In wages to his servants, male and female, and his gardeners, grooms and the rest, more than $30,000 yearly. Hit weekly wages bin, apart from those he pays monthly or quarterly, Is between SOOO and SOSO. He keeps many horses and every sort of vehicle—from a dog cart to a shooting coach; he has about a score of gardeners at Papworth alone; he is constantly adding to his estate there by buying up adjoining farms, and recently he bought SIO,OOO worth of additional agricultural machinery for his operations there. His wine cellars contain one of the most extraordinary collections ever got together, and you may say on my estimate, as a member of the (hsmmlttee, that this princely bankrupt is not living at the rate of less than $75,000 yearly.” “But haven’t you and your fellow committeemen any means of diverting some of this Income toward the credito’rs?” “None at all. Mr. Hooley obtains his income by the financial operations he conducts from Walsingham House, where he sees clients daily. Blit he doesn’t deal on his own behalf. He is the agent of his wife. I have long contended that we, the committee, should be able to control the bankrupt’s earnings. We ought to be able to secure for the creditors the remaindei of that income after allowing the bankrupt a good maintenance—say $25,000 a year.” “And do your powers enable you tc do anything in that direction?” “No, but I have heard from a very reliable quarter that as one result of this Hooley business legislation will ht proposed with the object of rendering such crying scandals impossible in th« future.”