Aberdeen herald. [volume] (Aberdeen, Chehalis County, W.T.) 1886-1917, 1904-03-04
WHITAKER WRIGHT.

whitaker WRIGHT. what seemed at
time to be millions by stroke Of the
pen and yet I'm the end. ran against
the fact that paper is paper and hon
esty is honesty. Wright was English
by birth. but turned up when young
man I'm the Colorado mines. Starting
with little money. he became an act
i've Spectator at Leadville and I'M
doubleday had a gift in influencing
others to expect immense profits from
small investments. Getting enough
means together. through the breezy tai
ent for deception that was always his
chief capital he went East and en-
gagged in speculation in the New York
and Philadelphia exchanges. About
seventeen years ago he returned to
London and soon began to exploit
mines i'm West Australia. Wright's
holdings there had tendency to be
phcnOmenally rich on the surface. and
his methods were sensational. The MIL
lions in which this snowy promoter
reveled were almost Invariably paper
when the final analysis was reached.
One of Wright's London corpora
tons. forced into liquidation in 1901.
was found to have liabilities of $48,-
100000 and assets of $7.OOO,OOO. The
cOnfiding public lost the $39.OOO,OOO.
and the public, it must he remember
ed. pays cash for its paper. AS for
/ Wright, who was practically supreme
In the management he could take $50.
600 in deferred shares, and. with Il
drop of ink. convert it into certificates
representing sixty times the original
value. 1t was less labOriOus than rub
bling the lamp of Aladdin. and the
trustful public always came forward
with the treasure. The directors were
satisfied with large fees in return for
services merely nominal and never In
terfered with or questioned their Mon
te Cristo. When Wright's accountant
in 1900 told him there was deficit Of
$780, 900 in certain property. Wright
assured the public that there was a
surplus Of s$5.OOO.OOO. He fixed 1t in
ten seconds with his facile pen. No
director thought 1t worth while to look
further. But some Of the stockholders
were more inQuisitive and gradually
forced the matter through the courts
to an issue. In spite Of years Of Oppo-
sitiOn in various forms.
Wright was personally dazzler, a
species of parsonage for which many
persons with money to invest seem to
have strong prediction. II the
stage is magnifcently set, they bite
freely Wright lived in miniature
palace. and the fact that it was n copy
Of the residence Of n French king open
ell the pockets Of many susceptible per-
sons with supernuOus cash. When this
class heard that Wright had an army
of 900 lab0rers improving his country
seat they fairly chased him around to
take their money. The fact that his
stables were finished in mahogany and
polished gun metal. with costly paint
ings hung In the stalls. was spread
abroad and the millions Of cash rained
upon him. As long as there are people
Of this kind there will be Wrights to
fire their imaginations. 1t Is the old
story Of a glittering lure and human
gudgeons. who tumble over each other
to hand their money to John Law. a
Hooley. a Nine. Therese Humbert. or
the latest hashy get-rich-quick fakir.
The most impressive part Of tiie end Of
the Wright story il that he knew pun
ishment to be certain and therefore
killed himself. In some parts OF the
United States he would have given
bond. got up champagne feasts for 9th
err confidence men Of the same distin-
guished characteristics, and, in due
time. been discharged on some trifiing
tecnnicality connected with defective
document or microscopic legal formal
ity.-St. Louis lObe-DemOcrat.