Whitaker Wright
Encyclopedia
James Whitaker Wright was an exceptionally wealthy English mining company owner. He became infamous when he committed suicide at the Royal Courts of Justice
in London
immediately following his conviction for fraud.
Minister
, and Matilda Whitaker, a tailor's daughter. Born in Stafford
, England
he spent his early years in various parts of England with his father. In 1861, according to the census
of that year, he was a printer in Ripon
. Between 1866-1868, he was a Methodist preacher himself, but retired due to ill-health. He was also the elder brother of John Joseph Wright, who invented the reversible trolley pole
in Toronto, Canada.
, Canada
. Wright then travelled to Philadelphia, where he met and married Anna Edith Weightman in 1878. Wright made a fortune by promoting silver-mining companies in Leadville, Colorado
and Lake Valley, New Mexico, although none of the companies made money for the shareholders.
Wright returned to England, and promoted a multitude of Australian and Canadian mining companies on the London market.
, a former Viceroy of India. The question will always be whether this was sharp practice by Wright to gull the public or a way of attracting posh investors. Probably a bit of both, as Wright was definitely trying to cut a splash in late Victorian, early Edwardian English Society. Besides the mansion at Lea Park Wright also owned the yacht Sybarita which beat the yacht Meteor
(which belonged to Kaiser Wilhelm II of Germany) before the Royal Yacht Squadron.
Wright had an ability to meet and mingle with the best people. He became a friend and financial advisor to Sir James Reid, the personal physician to Queen Victoria. In fact Wright was able to get Reid to become the trustee for Mrs. Wright in the financier's will. Later this would lead to financial difficulties for the physician for neglecting her interests in the events connected to Wright's fall. Reid eventually had to pay Mrs. Wright 5,000 pounds.
It is just possible that Wright's fall was due to his ego. Everything apparently was working properly in his empire, until 1900 when he took it upon himself to try to float the bond issue for the building of the Baker Street and Waterloo Railway
(now the London Underground's Bakerloo line
). The line had been a difficult and costly one to construct. Why Wright decided to get involved in this is hard to explain. Although an engineer, he was a mining engineer, not a construction or railroad engineer. It is more likely that Wright figured if his gamble worked he would be able to cap his career in City finance by getting knighted for his public spirited activity. In any case the bond issue was a disaster - Wright found it strained his resources, and few people were willing to take part of it off his hands. It started the spiral downward for the entire Wright group.
It was here that Wright made his criminal error. To maintain an image of solvency and success Wright kept pushing thousands and thousands of pounds from one of his companies to another in a series of "loans". This led to some fooling around with balance sheets. But when he announced, despite the apparent prosperity of his group, there would be no dividends, people became suspicious. Shortly, in December 1900, the companies collapsed, and in a symbolic moment, one of the large stones at Stonehenge
also toppled over. Wright fled, but was brought back to stand trial.
The shock waves led to a panic in London's exchange. There were other losses. The humiliated Marquess of Dufferin and Ava died in 1902 in the midst of the investigation.
, the prosecution was led by one of the best barristers of the day Rufus Isaacs
. For Wright this pairing was bad, as Bigham was one of the most astute corporate law experts in England, and Isaacs was an expert in stock market procedure because he had worked as a broker. It was necessary to do this, for the government (when studying the confusion of Wright's paper trail) could not see a successful government prosecution. Instead the prosecution was from the stockholders, which made it look like a vendetta. However, with a prosecutor simplifying the various financial tricks that Wright pulled for the jury, and a jurist patiently explaining points about finance, Wright's attempts at obfuscation were slowly defeated.
On 26 January 1904, Wright was convicted of fraud at the Royal Courts of Justice
and given a seven year prison sentence. He committed suicide
by swallowing cyanide
in a court anteroom immediately afterward. The inquest also revealed that he had been carrying a revolver in his pocket, presumably as a backup. In spite of his financial errors, there was a great outburst of grief at his funeral at Witley
where he is buried.
, Surrey
and the adjacent South Park Farm from the Earl of Derby
, which included the Lordship of the Manor
and control of Hindhead
Common and the Devil's Punch Bowl
. Whitaker Wright began to develop his new properties as a single estate named Witley Park
and his wide-ranging landscaping works raised local concerns regarding the impact they were having on the natural landscape.
Following his death, his Witley Park estate was divided into lots for sale, and funds raised locally enabled the purchase of Hindhead Common, which was transferred to the National Trust
.
titled Ties That Bind Us.
H. G. Wells
was fascinated by the fall of Wright, and it influenced the writer's novels Tono-Bungay
and The World of William Clissold.
Royal Courts of Justice
The Royal Courts of Justice, commonly called the Law Courts, is the building in London which houses the Court of Appeal of England and Wales and the High Court of Justice of England and Wales...
in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
immediately following his conviction for fraud.
Early life
The eldest of five children, he was the son of James Wright, a MethodistMethodism
Methodism is a movement of Protestant Christianity represented by a number of denominations and organizations, claiming a total of approximately seventy million adherents worldwide. The movement traces its roots to John Wesley's evangelistic revival movement within Anglicanism. His younger brother...
Minister
Minister of religion
In Christian churches, a minister is someone who is authorized by a church or religious organization to perform functions such as teaching of beliefs; leading services such as weddings, baptisms or funerals; or otherwise providing spiritual guidance to the community...
, and Matilda Whitaker, a tailor's daughter. Born in Stafford
Stafford
Stafford is the county town of Staffordshire, in the West Midlands region of England. It lies approximately north of Wolverhampton and south of Stoke-on-Trent, adjacent to the M6 motorway Junction 13 to Junction 14...
, England
England
England is a country that is part of the United Kingdom. It shares land borders with Scotland to the north and Wales to the west; the Irish Sea is to the north west, the Celtic Sea to the south west, with the North Sea to the east and the English Channel to the south separating it from continental...
he spent his early years in various parts of England with his father. In 1861, according to the census
Census
A census is the procedure of systematically acquiring and recording information about the members of a given population. It is a regularly occurring and official count of a particular population. The term is used mostly in connection with national population and housing censuses; other common...
of that year, he was a printer in Ripon
Ripon
Ripon is a cathedral city, market town and successor parish in the Borough of Harrogate, North Yorkshire, England, located at the confluence of two streams of the River Ure in the form of the Laver and Skell. The city is noted for its main feature the Ripon Cathedral which is architecturally...
. Between 1866-1868, he was a Methodist preacher himself, but retired due to ill-health. He was also the elder brother of John Joseph Wright, who invented the reversible trolley pole
Trolley pole
A trolley pole is a tapered cylindrical pole of wood or metal, used to transfer electricity from a "live" overhead wire to the control and propulsion equipment of a tram or trolley bus. The use of overhead wire in a system of current collection is reputed to be the 1880 invention of Frank J....
in Toronto, Canada.
Emigration, Marriage and Fortune
On the death of his father in 1870, the family emigrated to TorontoToronto
Toronto is the provincial capital of Ontario and the largest city in Canada. It is located in Southern Ontario on the northwestern shore of Lake Ontario. A relatively modern city, Toronto's history dates back to the late-18th century, when its land was first purchased by the British monarchy from...
, Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
. Wright then travelled to Philadelphia, where he met and married Anna Edith Weightman in 1878. Wright made a fortune by promoting silver-mining companies in Leadville, Colorado
Leadville, Colorado
Leadville is a Statutory City that is the county seat of, and the only municipality in, Lake County, Colorado, United States. Situated at an elevation of , Leadville is the highest incorporated city and the second highest incorporated municipality in the United States...
and Lake Valley, New Mexico, although none of the companies made money for the shareholders.
Wright returned to England, and promoted a multitude of Australian and Canadian mining companies on the London market.
Sharp Practices
Wright's career as a master financial swindler peaked in the 1890s, when he formed the London and Globe Company which floated a variety of stock and bond issues dealing with mining. Wright purposely called some of these stocks "consols", which was a sharp style of dealing with the public, as "consols" were the term used by the British government for state bond issues that were solid and reliable. It was not the only bit of sharp practice subsequently brought up against him. He loaded the directorships of his companies with titled peers. For instance, the Chairman of the London and Globe Company was the Marquess of Dufferin and AvaFrederick Hamilton-Temple-Blackwood, 1st Marquess of Dufferin and Ava
Frederick Hamilton-Temple-Blackwood, 1st Marquess of Dufferin and Ava, KP, GCB, GCSI, GCMG, GCIE, PC was a British public servant and prominent member of Victorian society...
, a former Viceroy of India. The question will always be whether this was sharp practice by Wright to gull the public or a way of attracting posh investors. Probably a bit of both, as Wright was definitely trying to cut a splash in late Victorian, early Edwardian English Society. Besides the mansion at Lea Park Wright also owned the yacht Sybarita which beat the yacht Meteor
Thistle (yacht)
Thistle was the unsuccessful Scottish challenger of the seventh America's Cup in 1887 against American defender Volunteer.-Design:The cutter Thistle was designed by George Lennox Watson, with interiors by his brother Thomas Lennox Watson, and built at the D&W Henderson shipyard in Partick on the...
(which belonged to Kaiser Wilhelm II of Germany) before the Royal Yacht Squadron.
Wright had an ability to meet and mingle with the best people. He became a friend and financial advisor to Sir James Reid, the personal physician to Queen Victoria. In fact Wright was able to get Reid to become the trustee for Mrs. Wright in the financier's will. Later this would lead to financial difficulties for the physician for neglecting her interests in the events connected to Wright's fall. Reid eventually had to pay Mrs. Wright 5,000 pounds.
It is just possible that Wright's fall was due to his ego. Everything apparently was working properly in his empire, until 1900 when he took it upon himself to try to float the bond issue for the building of the Baker Street and Waterloo Railway
Baker Street and Waterloo Railway
The Baker Street and Waterloo Railway , also known as the Bakerloo tube, was a railway company established in 1893 that constructed a deep-level underground "tube" railway in London...
(now the London Underground's Bakerloo line
Bakerloo Line
The Bakerloo line is a line of the London Underground, coloured brown on the Tube map. It runs partly on the surface and partly at deep level, from Elephant and Castle in the south-east to Harrow & Wealdstone in the north-west of London. The line serves 25 stations, of which 15 are underground...
). The line had been a difficult and costly one to construct. Why Wright decided to get involved in this is hard to explain. Although an engineer, he was a mining engineer, not a construction or railroad engineer. It is more likely that Wright figured if his gamble worked he would be able to cap his career in City finance by getting knighted for his public spirited activity. In any case the bond issue was a disaster - Wright found it strained his resources, and few people were willing to take part of it off his hands. It started the spiral downward for the entire Wright group.
It was here that Wright made his criminal error. To maintain an image of solvency and success Wright kept pushing thousands and thousands of pounds from one of his companies to another in a series of "loans". This led to some fooling around with balance sheets. But when he announced, despite the apparent prosperity of his group, there would be no dividends, people became suspicious. Shortly, in December 1900, the companies collapsed, and in a symbolic moment, one of the large stones at Stonehenge
Stonehenge
Stonehenge is a prehistoric monument located in the English county of Wiltshire, about west of Amesbury and north of Salisbury. One of the most famous sites in the world, Stonehenge is composed of a circular setting of large standing stones set within earthworks...
also toppled over. Wright fled, but was brought back to stand trial.
The shock waves led to a panic in London's exchange. There were other losses. The humiliated Marquess of Dufferin and Ava died in 1902 in the midst of the investigation.
Trial and Death
The trial occurred in January 1904. Tried before Mr. Justice BighamJohn Bigham, 1st Viscount Mersey
John Charles Bigham, 1st Viscount Mersey was a British jurist and politician. After early success as a lawyer, and a less successful spell as a politician, he was appointed a judge, working in commercial law....
, the prosecution was led by one of the best barristers of the day Rufus Isaacs
Rufus Isaacs, 1st Marquess of Reading
Rufus Isaacs, 1st Marquess of Reading, GCB, GCSI, GCIE, GCVO, PC, KC , was an English lawyer, jurist and politician...
. For Wright this pairing was bad, as Bigham was one of the most astute corporate law experts in England, and Isaacs was an expert in stock market procedure because he had worked as a broker. It was necessary to do this, for the government (when studying the confusion of Wright's paper trail) could not see a successful government prosecution. Instead the prosecution was from the stockholders, which made it look like a vendetta. However, with a prosecutor simplifying the various financial tricks that Wright pulled for the jury, and a jurist patiently explaining points about finance, Wright's attempts at obfuscation were slowly defeated.
On 26 January 1904, Wright was convicted of fraud at the Royal Courts of Justice
Royal Courts of Justice
The Royal Courts of Justice, commonly called the Law Courts, is the building in London which houses the Court of Appeal of England and Wales and the High Court of Justice of England and Wales...
and given a seven year prison sentence. He committed suicide
Suicide
Suicide is the act of intentionally causing one's own death. Suicide is often committed out of despair or attributed to some underlying mental disorder, such as depression, bipolar disorder, schizophrenia, alcoholism, or drug abuse...
by swallowing cyanide
Cyanide poisoning
Cyanide poisoning occurs when a living organism is exposed to a compound that produces cyanide ions when dissolved in water. Common poisonous cyanide compounds include hydrogen cyanide gas and the crystalline solids potassium cyanide and sodium cyanide...
in a court anteroom immediately afterward. The inquest also revealed that he had been carrying a revolver in his pocket, presumably as a backup. In spite of his financial errors, there was a great outburst of grief at his funeral at Witley
Witley
Witley, in Surrey, England is a village south west of Godalming. The village lies just east of the A3 that runs from Guildford to Petersfield. Witley together with the neighbouring area of Hambledon have a population of about 4,000. Neighbouring villages include Milford, Chiddingfold and...
where he is buried.
Witley Park
In 1890 Wright had purchased an estate named Lea Park in HaslemereHaslemere
Haslemere is a town in Surrey, England, close to the border with both Hampshire and West Sussex. The major road between London and Portsmouth, the A3, lies to the west, and a branch of the River Wey to the south. Haslemere is approximately south-west of Guildford.Haslemere is surrounded by hills,...
, Surrey
Surrey
Surrey is a county in the South East of England and is one of the Home Counties. The county borders Greater London, Kent, East Sussex, West Sussex, Hampshire and Berkshire. The historic county town is Guildford. Surrey County Council sits at Kingston upon Thames, although this has been part of...
and the adjacent South Park Farm from the Earl of Derby
Edward Stanley, 15th Earl of Derby
Edward Henry Stanley, 15th Earl of Derby KG, PC, FRS , known as Lord Stanley from 1844 to 1869, was a British statesman...
, which included the Lordship of the Manor
Lord of the Manor
The Lordship of a Manor is recognised today in England and Wales as a form of property and one of three elements of a manor that may exist separately or be combined and may be held in moieties...
and control of Hindhead
Hindhead
Hindhead is a village in Surrey, England, about 11 miles south-west of Guildford. Neighbouring settlements include Haslemere, Grayshott and Beacon Hill. Hindhead is the highest village in Surrey...
Common and the Devil's Punch Bowl
Devil's Punch Bowl
The Devil's Punch Bowl is a large natural amphitheatre and beauty spot near Hindhead, Surrey, in England, and is the source of many stories about the area. The London to Portsmouth road used to climb round its side, but this is now closed due to the Hindhead Tunnel opening on the 27th July 2011...
. Whitaker Wright began to develop his new properties as a single estate named Witley Park
Witley Park
Witley Park was a 19th-century house and estate in Surrey, near Haslemere.The estate was developed in 1890 by the fabulously wealthy J. Whitaker Wright, as part of extensive land – approximately – he purchased in the Haslemere and Hindhead area....
and his wide-ranging landscaping works raised local concerns regarding the impact they were having on the natural landscape.
Following his death, his Witley Park estate was divided into lots for sale, and funds raised locally enabled the purchase of Hindhead Common, which was transferred to the National Trust
National Trust for Places of Historic Interest or Natural Beauty
The National Trust for Places of Historic Interest or Natural Beauty, usually known as the National Trust, is a conservation organisation in England, Wales and Northern Ireland...
.
In popular culture
Whitaker Wright was popularized along with his fictional great-grandson in a 2006 episode of HustleHustle (TV series)
Hustle is a British television drama series made by Kudos Film and Television for BBC One in the United Kingdom. Created by Tony Jordan and first broadcast in 2004, the series follows a group of con artists who specialise in "long cons" – extended deceptions which require greater commitment, but...
titled Ties That Bind Us.
H. G. Wells
H. G. Wells
Herbert George Wells was an English author, now best known for his work in the science fiction genre. He was also a prolific writer in many other genres, including contemporary novels, history, politics and social commentary, even writing text books and rules for war games...
was fascinated by the fall of Wright, and it influenced the writer's novels Tono-Bungay
Tono-Bungay
Tono-Bungay , by H. G. Wells, is a realist semi-autobiographical novel. It is narrated by George Ponderevo, a science student who is drafted in to help with the promotion of Tono-Bungay, a harmful stimulant disguised as a miraculous cure-all, the creation of his ambitious uncle Edward...
and The World of William Clissold.
External links
- Australian Prospectors & Miners Hall of Fame entry on Whitaker Wright
- The Guardian profile on Whitaker Wright
- The swindler, the cyanide pill and the underwater ballroom: The story behind Britain's most bizarre folly in the Daily Mail
- BBC Southern Counties on Whitaker Wright
- Lost Heritage - Witley Park - History and Gallery