Waterbury evening Democrat., 1907-09-09
WAITING FOR WHITE,
De Forest Wireless Promoter Is
 Accused of Fraud.
USED STOCK TO BUY MANSION

Charged With Converting Assets Of Corporation to His Own Use and Ruinins the StoekhoIders-Suit Be- gun In New Jersey.
 Trenton, N. J., Sept. 9.-In the Unit ed States circuit court for New Jersey, before Judge w. W. Lanning, in this city, there was argued motion made by the Abraham White Realty and Improvement company to lift a lis pendens on the magnificent estate in Long Branch owned by John A. Nc Call, former president of the New York Life Insurance company, and ac- quired in August of last year by Abra- ham White, president of the De For est Wireless Telegraph company. The lis pendens was placed on the property as a result of suit begun against White, his wife, the De Forest Wire less Telegraph company, the American De Forest Wireless Telegraph compa- ny and other companies which are offshoots of the De Forest concerns, by Walter Althause in behalf of him. self and all other stockholders of the De Forest Wireless Telegraph com pany.
 The suit is for an accounting of funds alleged to have been shifted H. legally from the De Forest Wireless Telegraph company to the American De Forest Wireless Telegraph compa- ny by White for the alleged purpose of defrauding the stockholders of the original company.
 A Remarkable Promoter.
 The motion is minor incident in a long and complicated litigation against White. Behind it, however, there is revealed a glittering story of the sky rocket rise and fall of probably the most remarkable promoter who ever shoveled stock into the pockets of 1n- vestors in almost every part of the world and received therefore, it is es- timated, at least $1,500,000 in hard earned cash.
 Hard earned indeed was the cash which White received, for most of it came from small investors, who had faith ill the future of wireless telegra- phy. They succumbed to the alluring literature of Whites companies, and for time they gobbled up the stock almost as fast as the printers could get it off the presses. Most of the in- vestors still believe wireless telegra- phy one day will supplant wire" telegraphy, but Althause and others who invested their money have found it impossible, it is alleged, to find out what is being done with the large sums that have been received from the sale of stock.
 White the Stock Genius.
 Occasional bulletins sent out by the American De Forest Wireless compa- ny that the system has been installed on various ocean liners is about the only knowledge they have of what the company is doing. What the income from this source is they have been un- able to learn, nor have they been able to untangle the relationship between the De Forest Wireless Telegraph com pany, the American De Forest Wire less Telegraph company, the Occiden- tai and Oriental Wireless Telegraph company, the United Wireless Tele- graph company and the Mutual Securi- ties company, all of which were or ganized by White to exploit the wire less system.
 White, the guiding genius of all these companies. it is charged by Alt hause, converted the assets of the American De Forest Wireless Tele- graph company to his own use and that he invested part of the money in the purchase of the Mccall property. White Missing.
 Where White only few months ago had cut a comets path there is now a dark trail of clamorous stockholders and unpaid obligations. The Mccall mansion. one of the show places of the Jersey shore, which was transformed into White park when the promoter bought it and in which he entertained foreign noblemen, financiers and pros pective customers, is closed. Store keepers in Long Branch are waiting anxiously for Whites return in the hope that he will settle. the obligations he incurred when he gave his magnifi- cent entertainments Some of the storekeepers. tired of waiting for the promoter. have obtained judgments against him.
 They had extended to him practically unlimited credit. and even after he closed the house and moved away they felt their money was safe. The mag nificent mansion of the promoter, they thought. could be attached, and those who obtained judgments against him tried to do so. To their dismay they i found that on the day White filed his deed to the property he conveyed the estate to the Abraham White Realty and Improvement company and that the corporation was the real owner of the property.
 A.. u1.I