Very soon after his establishment in Paris Rochette was said to be
worth somewhere between three and four million pounds sterling. Of
course most of this money was employed in his financial enterprises,
but these were successful beyond the dreams of avarice, and the prices
of shares in the Rochette flotations rose and rose continuously. To
mention one only among the number, shares of the Hella Gas Mantle
Company which had been issued at £4 a share ran up in the course of a
very few months to nearly £21 (518 frcs. was the exact figure) a share.
Some idea may be formed of the confidence inspired by Rochette from the
fact that when, in 1908, five years after his first appearance on the
Paris market, the financier was arrested, ten thousand shareholders of
his companies signed a petition for his immediate release, and sent it
to the Chamber of Deputies.
At the time of his arrest there were many more people than these ten
thousand shareholders who pinned their faith to Rochette and his
enterprises, and who maintain even now that his downfall was due to a
conspiracy against him by financiers who were interested in the fall
of his shares. To a certain extent this contention was true, as we
shall see later on by some of the evidence given on oath before the
Commission of Inquiry. A number of charges were formally made against
Rochette by a number of people who had lost money and considered him
responsible for the loss. These charges became so many that the Public
Prosecutor, after consulting the Minister of Justice sent for Monsieur
Rochette one day, and asked him, in view of the fact that a number of
the actions brought against him had been amicably arranged between the
parties while others of a graver nature charging him with fraud had
resulted in acquittal, whether he would consent to a friendly though
judicial examination of his books. This examination took place, took
place it may be remarked at the expense of Rochette himself, who was
perfectly willing to pay for it, and the accountants’ verdict was by no
means altogether unfavourable to the young financier. Rochette, having
triumphed, continued his issues of companies, and general opinion
began to rank him with the Rothschilds and the other overlords of high
finance.
[Illustration: _Agence Nouvelle—Photo, Paris_ ROCHETTE IN COURT
(Rochette is the central figure with the black beard)]
Public-domain text, read in full here on John Shaqi.
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