New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-02-12
MEMORABLE TRIAL.
al Side Lights Upon the Manners
u,7 Vices of Smart Society.

s'e --.-irers. in expectation Of ~ Whitaker
i - - -,-rirfion. had prepared their hon.
4 fft" .huses Of window dressing IN
o. o. erance and the necessity for
- honor and probity In the conduct
i IaH ,.tliitv companies: but the tragic
i 8 JIM -, convicted mans life had It's dra-
ctIh p y. mich involved radical revision OF
4 SIC --,-lss Death. instead OF being Haw-
q VI 1-.--,s--erlv scene shifter" IN ringing
soTref .s,vr mon a sciled and bsfied
y - -,erc!ful angel arranging final
afe'' -, charity as the leading motive.
- IN passing sentence could not per
ll' - ertcuuatlng circumstances but ~heh
ft 80 fslon was summoned within an
uR - higher tribunal, the leader writers
ho- - srk with water and convinced their
aD-- ..s. "the quality OF mercy Is not
- Even Mr. Arnold White. who was the
straAs-- =. ~ -te doomed mans prosecutors.
nos ~ the reticence imposed by death
fe' = s..rns5 10 say anything, except that
iAaA " Wright showed himself through
IL ----ination and denomination a
on -, and that ne went through the fear
he sentence with the greatest cour-
~ - zt,,,+v.. when q tribute like this
-, she nan who was fined and i'm
CO. e,- rrotestirc against the accused
- ,.,v admitted 20 bail IL Is natural for
il--.. --.I,.,s 70 .rid their minds Of cant" and
.,b. tolerant in their Judgments
-, -.e-ac+s the ending OF this MEM
= 80 &c highly satisfactory. even with the
-. .eopel 10 round out the dramatic climax
N's.e -. -,o-s1izine 10 the level Of bathos.
:. s..,lo-es the efficiency q the safeguards OF
- -. prevention q the publication OF
80. balance sheets. Il was battle OF WIS
- A. R,lfus Isaacs was cross-eXamlnlhg 1ne
- -.s,ac+ing the manipulation OF printed
-...-,..,+s ~ -rofts and losses, assets and
-. Ia .re -7anacernent Of various com
80. ana M Walton did not lack the courage
-s,,,i-ed for protecting his client from what ne
1900 ,, unfair comment from the bench
The accused was a most remarkable Witness
cool self-possessed and resourceful. and he was
5.ss-5ed v5th signal ability; but when the fact
,as clearly established that Inaccurate ana false
statements had been made. and that he was re-
rDorslble for them there was hound 70 be sum
Gent uotency in the Larceny act for securing
conviction and punishment. This result is a
r-eat gain for public morality, because the CHEZ
law officers OF the Crown. when celled 10 ac-
count en- Parliament Tor their neglect 10 order
p-osecution. had declared that legal proceedings
were in,practicable Sir Robert Finlay, the At
tsnev General. said that he had carefully eZ-
AHMED the financial statements Of the London
and Globe group. and had come TO the conclu-
. sion that he could not properly direct the
Director q Public Prosecutions 10 put the Grim
inzl law in motion. The Solicitor General Sir
Edward Carson. was even more explicit Tt is
said" ne remarked. that Mr.. Whitaker Wright
published a false balance sheet I believe he
did ] think that 81 is an admitted fact that this
was done. But VIII anybody get UP and say that
a man can De prosecuted IL, ruse be publishes a
false balance Sheet" The pernicious effect a
these Official declarations has been counteracted
by the oxtradltion proceedings and Justice Big
bans lucid charge and severe sentence. There
WIN no longer be any clubbing over the pub
Hcation o. a false balance sheet as neither an
offence AZ common law nor breach Of statute
Jaw.
Another saIutary result OF the trial with its
dramatic close, IS the deliverance Of Whitaker
wHgh. from the ignorninious plight OF q scape-
goat The uerciful comment inspired by his
sudden death Is that he was not the only hnan-
cer In the reeion Of Capel Court who would bs
convicted OF manipulation OF accounts and de-
osptive window dressing" in company promo
ton. end. moreover that in the London and
Globe group Of speculative companies there were
others as guilty as himself This IS the truth
and 81 SIS unnecessary 20 bring in a bin OF par
tcuia-s against the auditors Of the accounts. o.
against Lord Loeb and Lord Dufferin, who were
associated wi.h Mr. Wright IN his speculative,
enterprises. Eminent statesmen and dipl0uatisu
l0w in their peaceful graves need not be in
dcted as his a-c0mplices ga imposing upon IN,
Gtaulity OF investors. when they themselves as
serted as long as tle- had breath that they wer,
hts dupes. The asureheads which he employed
were 20. like Alr. Hooley's earls, whose name,
looked SO handsome and SO attractive on gilt
edged prcsDectuscs. 1lr. Wright did not exploit
Industrial and mining companies or the bushes.
principle that middle class investors dearly love
lord, and that TIE patronage OF smart society
Is valuable asset for stock promoting. lie
operated more boldly on the lines Of successful
STOCK gambling, and after many daring ventures
ala brilliant strokes he gained a prestige q
as oWa as an lnvincible master 81 the art OF
making money by great coUps and skilful naansp-
a.ation he was the managing director Of g
group ~ companies. and in the course Of a few
3sars aoated ana financed enterprises with a
A'ulnal capitalization OF over S45.O0QO00. The
nay have been a meagre result in comparison
tith recent stock imitation In America, but Il
]4ee an Impression here and won for him the
support OF specuators in the City and gamblers
p De'sFaF4a- His success socially and in Capel
e0~l was dependent 10 a large extent, upon
-.e loct that SPECTATORS and smart people had
- ~ a Fenturesome stock gambler. and sup
- am tor half dozen years with ample
-oI conducting his remarkable opera
-He Eaers and abettors OF Mr.. Wright
Ne people who understood the nature OF
Ms operations and were M hot haste 70 Droa, -,
fhsn 'S 10 ~ oHt y
AZ. Aoolsys relations with smart society
eae more sordid than Ar. wrights. In carry
. o. 'he speculative business OF buying in
ollrial compazies for tb,ee and selliap tber,
-or I've millions he 1ouad ID certainly convenient
sno possibly Necessary. 10 square, the noble
- favorable directors whose names were re-
-. - 10Y the FROM page OF his prospectuses.
-. s'oial patrons Gid not appear 70 under