Hansard Publishing Union Horatio Bottomley

sir henry hawkins, judge before whom bottomley appeared, , acquitted, on fraud charges in 1893

undismayed loss of papers, bottomley embarked on ambitious expansion scheme. on basis of lucrative contract print hansard reports of debates in westminster parliament, @ beginning of 1889 founded hansard publishing union limited, floated on london stock exchange capital of £500,000. bottomley boosted company s credentials persuading several notable city figures join company s board of directors. these included sir henry isaacs, lord mayor-elect of london, coleridge kennard, co-founder (with harry marks) of london evening news, , sir roper lethbridge, conservative mp kensington north. board approved purchase bottomley of several printing businesses—he used intermediaries disguise considerable personal profits these transactions. persuaded board give him £75,000 down payment publishing firms in austria negotiating, although firms not acquired. these outgoings , other expenses absorbed union s capital, , few significant revenue streams ran out of money. nonetheless, without statement of accounts, in july 1890 bottomley announced profit year of £40,877, , declared dividend of 8 per cent.

the funds dividend payment raised debenture of £50,000. end of 1890 many city figures suspicious of hansard union, , calling bottomley s swindle . despite bottomley s outward optimism, in december 1890 company defaulted on payment of debenture interest , in may 1891, amid growing rumours of insolvency, debenture holders petitioned company s compulsory winding-up. in same month bottomley, had taken @ least £100,000 company, filed petition bankruptcy. under examination official receiver, not money had gone, , professed total ignorance of company s book-keeping. after further enquiries, board of trade instituted prosecutions fraud against bottomley, isaacs , 2 others.

the trial began in high court of justice on 30 january 1893, before sir henry hawkins; bottomley conducted own defence. observers case against him seemed impregnable. established that, through nominees, bottomley had repeatedly bought companies far less prices approved hansard union directors, , had pocketed difference. bottomley did not deny this, insisting use of nominees accepted commercial practice, , actual profits had been smaller reported; expenses, said, had been enormous. helped in case slackness prosecution presented evidence, , failure call key witnesses. further helped indulgence hawkins showed him, , own convincing oratory. essence of argument was victim of machinations official receiver , debenture corporation, had been determined win prestige bringing bottomley down , wrecking company. on 26 april, after hawkins had summed massively in favour, bottomley acquitted, along other defendants.