Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1899-1903, 1903-03-17
Said to Have Swindled English
Public Out Of 300, 900. 1000.
MANIPULATED AUSTRALIAN STOCKS
Was Taken by New York Police When
Steamer La Lorraine Reached Port
. Crown Will Pay the Expense Of Ex-
tradition.


died the British investing public out
of more than 100,000,000, J. Whitaker
Wright, the fugitive London promoter,
! who was arrested here yesterday, this
afternoon demanded an examination
in the United States, though his attor-
. neys said that he was willing to return
to England to face his accusers Wright
declares that his arrest was an out
rage and contends that he is innocent
of any intention to defraud anyone.
Miss F. Browne, said to be niece of
Wright who accompanied him to the
United States. says she will return to
England shortly.
Wright and Miss Browne left Havre
on the steamer La Lorraine March Z,
the former being met by United States
officers with warrants for his arrest
when the vessel reached the pier here.
Made and Lost Millions.
Wright's successes did not begin
until after he had left this country. In
West Australia he is said to have
made SIS, 100000 in mining specula-
tions and to have made several times
that amount in London in the oper-
alton of companies he organized to
float his properties He induced sew
y SIdl IueIuDGIS VI 8LIic HODiilly stO 4oGlNO
on his boards of directors, among
them the late Lord Dufferin, at one
time governor general of Canada, who
was financially ruined by the failure
of the concern
In Big Operations.
Mr.. Wright's financiering has been
of the pyrotechnic order. He fioated
into fortune in the flood tide of the
boom in West Australia gold mines.
The London and Globe Finance COM
pany was a promoting concern for
manufacturing securities, and it has
been said that none of the directors
except Mr.. Wright had the slightest
grasp of It's affairs or the remotest
cnception of its ramifications and
ventures. Men like Lord Dufferin,
Lord Loeb and Lord William Beres-
ford were used by Wright to dazzle
the bourgeois public rather than to
assist in guiding the affairs of the COM
pany. He has a marvelously rich mine
In Lake View, in West Australia, and
the stock scared to $140 share An
American mining engineer was in
charge of the mine, and reported to
Mr.. Wright's London Office that bon
ANA mine, which was producing most
of the profits, was growing bigger and
stronger in depth. Mr.. Wright bought
all the stock in sight, only to learn later
that the great store of ore was dug out.
Floated in London.
Before the collapse of the Lake View
mine Mr. Wright had advanced S10000,000
the. total capitalization of the London
and Globe Finance company--to the Baker
Street railroad scheme in London. Then
I,rh Duff
tion. with capital Of $7.500,00o. 1t was
oyersubscribed and the stock went to a
premium. This corporation bought the
lie Roi and other mines in British Column
bia, and within two years the LIE Roi mine
alone was said to have made S2,500,00o
pIoht.
Four different corporations We're organ.
ized to control these mines and the com.
panies were loated on the London market
The market value of the stock of the foul
companies soon rose to S40000.o00. repre-
senting an Investment of less than s., ,000
OO00, all made within three years This
was an imitation and manipulation which
could not last Collapse was inevitable
Thirteen firms involving about thirty
members of the London Stock Exchange
failed through the Globe group collapse
some of whom were among the best
known men in the London financial world
Surprised at Arrest.
When Commissioner, Alexander read tc
him the details of the charge, against hin
he could not believe he had heard arigni
and asked that it be. repeated TO him.
II cannot express to you my ,lmazemenl
at my arrest he declared 1T is an out
rage, and those who are responsible for il
will be made to suffer to the full extent OF
the law. The entire charge against me i.
technical, and in this country no one
would ever think of making it. Why, Mr.
Morgan even might be subject TO annoy
ance every day such as this If your law.
were as st,sct as ours in England. If
had believed it possible that a charge
would be made | would not, of course
have left home. But, after having devoted
the last two years to assisting the locu
liquidator of the Globe company. and tn,
crown officers having made the statement
IN parliament that it was not possible t,
press any charge against me, 1 felt FIRE,
to tnke q two months trip to British Co
lnmbia to inspect certain mining proper
ties there. to visit California. where
have some interests and to return hom
by way of Australia, where l have inter
ests of various kinds.
Says He Was Cleared.
''It is now more than two years sine,
the Globe company failed. There was ;
public inquiry more than3a year ago, afte
whiAl 1t was declared that my hands wer
clean of any crime or intent to do wrong
and that nothinp but- errors nfs ind ,y,,,a,,