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Show Wright's Meteoric Career. Whltaker Wright Is accused of losing los-ing to British Investors moro thnn $100,000,000. Ho promoted forty-ono companies, having a total capitalization capitaliza-tion of $111,775,000, and nil havo failed or gono Into liquidation. For several years Whltaker Wilght was tho meteor of tho financial world in London. When ho began his career as a promoter Iu tho British capital no ono know him. Ho waB reputed re-puted to hnvo made millions in the mines in West Australia. He began business in no small way. Ho astonished aston-ished nil Hngland by inducing the lato mnrquis of Duffcnn to accept tho presidency of ono of tho first companies com-panies ho floated tho "London and fllooo Finnnco corporation." Tho Company was capitalized for $3,000,-000 $3,000,-000 and Offered Its stock for sale.' Tho Investing public, lulled into security by the nanio of tho Marquis of Duffer-In, Duffer-In, purchased tho shares with tavld-ity. tavld-ity. Tho London nnd Globo invested tho money thus poured into Its treasury treas-ury In many enterprises. Worst of all, It paid $3,750,000 for tho Baker Street nnd Waterloo Underground rnllway and it failed. Whllo tho London nnd Globo company com-pany was at tho llus.i of Its popularity popular-ity with tho Investing public Wright organized tho "Standard Exploration company." Botli companies wore capitalized for millions. Both paid ono or two dividends on a magnificent magnifi-cent scale, and tho public simply threw its money Into Whltaker Wright's lap. Then ono company nftor another was organizod. Tho public bought stock eagerly. Monqy was paid into Wright's hands by millions. Ho was at tho pinnacle, of I1I3 success. Ho spent millions of dollnrs for ills bwn personal gratification. Ho ownod nlmost a palace In Park lane next to tho famous mansion of tho mnrquis of Londonderry. Ho purchased a country homo upon which ho spent money llko water. Ho filled It with raro works of nrt, paintings nud statuary. He owned steam yachts and gave lavishly to charity. Tnon camo tho crash. Tho London nnd Globo company failed on Deo. 29, 11)00, dragging down nearly a storo of London firms with It. Then, ono nftor another, tho remaining forty compaulos organized by Whltnker Wright crumbled. Investors lost ovcrytlilng. |
