[I had no idea what this was about so went into yahoo and discovered it was
to do with the non-completion of the Bakerloo Line due to fraud by Mr. Whitaker
Wright's company, and his subsequent fleeing to America, etc. There are some
very interesting articles about this on the internet. - Carol]

West Cumberland Times
Saturday, August, 1903


MR. WHITAKER WRIGHT.

ARRIVAL IN LONDON.
On Wednesday morning Mr Whitaker Wright arrived at Liverpool by the
Oceanic in charge of detectives, and left for London. Mr. wright, who was
looking very well, apparently has increased in weight. During the passage he
walked about the saloon promenade, associating with his fellow passengers and
smoking cigars. This was continued until Monday, when, on nearing the Irish coast,
he suddenly became quite reserved and shut himself up in his cabin, refusing
to see anyone. There he remained until the Oceanic left Queenstown for
Liverpool.
Mr Wright reached Euston Station, London, by the special boat train at
12.55. There was a large crowd awaiting his arrival, among those on the
platform being General Baden-Powell. Mr Wright stepped out of a first-class
carriage, accompanied by Detectives Willis and Philips, and walked coolly along the
platform. He looked well, although his beard was grey, and he was somewhat
more bowed than when last seen in London. He was taken to a railway omnibus
and driven to the city.
CHARGED AND REMANDED.
Mr Whitaker Wright appeared at the Guildhall shortly before three
o'clock on Wednesday afternoon and was formally charged with publishing a false
balance-sheet.
The defendant seemed perfectly cool and gazed calmly round the court
before taking a seat in the dock. Only formal evidence of arrest was given,
and he was remanded.
The magistrate allowed bail in £50,000, half of that sum on his own
bond.
STATEMENT BY MR WRIGHT
"The great mistake that I made," said Mr Wright to a representative of
the "Daily Mail" before he landed, "was in having too child-like confidence
in others, in being too trustful, especially in regard to the big operations
which brought down the company. In our exploration and mining operations we
were charged to carry on large operations in various parts of the world, and had
in many cases to put absolute trust in others. It was impossible for me to be
at both ends of the line. Therefore, when we were advised to purchase the
control of a given undertaking, on representations in regard to its condition,
and did so, and subsequently found that the company suffered a loss of nearly
half of its capital, and in trying to recover this loss in the following year,
notwithstanding all the precautions we took to be sure we were right, we were
again misled.
In the second operation we took in our confidence certain operators in
the City of London, by whom we were also betrayed. We could even have
recovered from this heavy blow but for the financial and political conditions
prevailing at the time. From the outbreak of the Boer war onward depreciation in
the value of all securities, not only of a speculative but of an investment
character, set in; nothing could stem this tide of depreciation. There are cycles
of prosperity which lead to inflated values, and there are cycles of adverse
conditions which lead to depreciated values. You cannot possibly stop this
depreciation."