The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-06-16
C|CAN Tie FRAUD
IS DISCOVERED
Officials of United Wireless
Telegraph Company Charged
With Swindling Public.
ONE OF OFFICERS REAPED
FIVE MILLION DOLLARS
Colossal Misrepresentation as
to Value of Stock Alleged by
POstOfiice Authorities.

NEW YORK, June 15.-President Will
son and Vice President Bogart OF the
United Wireless Telegraph company were
taken Into custody by United States
Marshal Henkel at the company's Office.
No. ~ Broadway. this afternoon. and
taken before United States Commission
er Shields to answer TO charge Of mis-
use OF the malls.
The United Wireless Telegraph COM
pany was Incorporated in No , 10 unity
wireless interests. II Eas authorized
$1O.OOo.ooo in common stock and 10000
600 in per cent preferred stock.
Gigantic Stock Swindle.
Chief Postof1ce Inspector Mayer, In d
statement, charges the officials OF the
company with a gigantic stock manlpula-
ton plan. declaring that the stock CAPT
tai OF the company. whose assets were
about $4,000. had been Increased by in
terchange OF securities and that the price
OF the shares had been arbitrarily raised
to such large amounts that the company
al this time had an apparent stock mar
kot value OF 100000 900.
Mr.. Mayer declares one OF the officials
cleaned up S5,OO0,O00. He says there are
5000 stockholders throughout the coun-
try who have placed their money with
tho company on the representation OF IT'S
officers that 1t had a surplus OF nearly
$1,000 900, when, as matter of fact, the
company was falling TO make Its opcr-
ating expenses.
Mr.. Mayer further says that the In
side officers Of the company were prvI-
legged TO sell their stock whilo outsiders
were required To accept stock certificates
stamped mon transferable until Febru-
nry IL, 1871
In addition TO arrestins President Will
loo.
Office Inspector O'Bricn Soizcd the books
and papers OF the wireless company as
evidence.
Made Big representations
The complainant named In tho charge
on which the arrests were made Is MI
chacl G. o'Bricn Of Waterbury, Conn. The
complaint alleges that the accused men
entered into a scheme TO dcfraud O BrIan
and others by representing 10 them that
tho company bad assets and patent
In other companies worth $1ilIS.Gl0;
real estate valued at $3i, ,292. cash TO the |
amount OF S317i4S. and surplus OF &c.,
52S,329 All these representations. the
complaint says were Fraudulent
William Tompltlns. president of the |
New York selling agents and local agents |
Of the United Wireless Telegraph com |
pany, pay was arrested this afternoon at Ma
hopac, Putnam county. New York, He
VIII be brought here and urraIsncd be- !
Tore Commissioner Shields.
'nTlSlcphcr columbus Wilson, president |
,f the United, is linauclcr OF tho self !
made school. Tic was born In Mississippi |
II 1915 OF irish descent and never had I
more than three monthg schooling. He |
became successfully Il cotton farmer u |
banker In Denver, u miner and finally II |
promoter Of wireless securities. lie lives |
II the Waldorf-Astoria when in New
York.
Says Business Is Good.
y. G, Newton. manager of the great
akcs and northern division OF the United
Wireless company said tonight; There
IS no truth whatever In the allegation
hat the company IS not making It's own
operating expenses. for this office is
making that and far more | am quite
'urc that the New York office which is
J. Grcatcr and more accessible station
han OURS, Is Just successful as the
.hicaEo branch. The United Wireless
Telegraph company has II steamers
equipped on the great lakes and twenty
'iH land stations. The business Will bo
optinucd as usual