The free lance. (Fredericksburg, Va.) 1885-1926, 1903-03-19
J. ". WRIGHT ARRESTED
London Promoter, Charged With Co
lSssal Frauds, Held at New York.
CLAIMS KING EDWARD AS FRIEND


Concern Capitalized at seO.675,ooo.
Members Of Royal Family May Sc
Connected With Gigantic swindle.
New York. March l6-J Whitaker
Wright. the London promoter. who is
accused OF being concerned In cOlos-
sal frauds in connection with the or
ganization or various financial cor
porations. was arrested yesterday on
the arrival OF the French line steamer
La Lorraine from Havre. The arrest
was made by two central Office de-
tectives at the request OF the London
police.
Wright was taken TO police head
quarters and later 10 the Tombs po-
lice court. where he was arraicuel
before magistrate and turned over
TO the United States authorities He
was then taken 10 the Ludlow street
Jail
With Wright on the steamship was
tall. goodlooking young woman. who
said she was the niece of the prisoner
Her name was on the passenger list
as Miss T. Browne. Wright when told
that he was under arrest showed no
evidence OF excitement. and said that
he was a friend OF King Edward. His
principal concern was 20 avoid pub
LEFTY. and he asked that his arrest d.
kept from the newspapers Wright
and his companion were entered on
the original passenger list as NJ An
dreoni and Mile. Andreoni
Wright and the youns woman occU-
pied one of the finest deck suites on
the steamship. Wright was sitting az
a desk in his cabin when found by
the detectives. When addressed by
name. he at once admitted his identity.
and on being told that he was under
arrest at the request OF the London
police, said:
That was a business transaction.
understood that the matter was all
settled IN parliament This is a sur
prise to me. I am willing 70 go with
you. All l want is to get away from
here with as little noise as possible.
Don't let the newspapers know any
thing about this"
The financial crash of the companies
fioated by Whitaker Wright came iu
December. 1900. There were II OF
these. including the parent company.
entitled the London and Globe Ri
nance Corporation. with a total CAPT
talization of s606750U1 Wright was
was the managing director.
One of the victims OF the crash was
the late Marquis of Duferin and Ava.
formerly governor general OF Canada
and British ambassador at Paris. He
consented TO be chairman OF the Lon
don and Globe, and had $4,000 shares
in the different companies. With Lord
Dunerin on the board OF directors
were Lieutenant General Gough-Cal
thorp. who was colonel of the Fifth
Dragon Guards. and Lord Edward
William Polham-Clinton, master of the
late queens household, ana son Of the
fifth Duke of Newcastle When the
crash came Lord DuAerin was cen
sured severely FOR his connection with
the Wright companies. but in a frank
speech TO the stockholders OF the Lon
don and Globe Corporation he de-
clared his position and won the sym
pathy OF the country. His wealth. at
one time large. was believed TO have
been swallowed up in these com
panies.
Much American money was lost IN
the failure of the Wright companies.
There was great cutlery against the
authorities in not prosecuting Wright
and his fellow directors OF the London
and Globe. A fund of $4,000 was
raised on the London Stock Exchange
to initiate the prosecution OF Wright.
Arnold White, the author. at a meet
Ing, said the reason the prosecution
was not undertaken by the govern
ment was that the directors Of the
London and Globe were sheltering
themselves behind members Of the
royal family. He added that he under.
stood a royal duke had invested his
money in the concern, and he believed
that certain hangers-On at court"
were using the name of the king and
others for the purpose of hiding their
own nefarious deeds. Other speakers
Mt this meeting declared that the
stockholders of the London and Globr
were victims of one of the most go
rible, heartless and gigantic sw:rdIas
Of the present age"