Scientific American, May 14, 1898, page 311:

Electrical  News  and  Notes.
    Wireless Telegraphy.--The Marconi wireless telegraphy boom seems to have petered out, says a cablegram of The New York Sun, and the syndicate which kept it going for over a year has arrived at the conclusion that there is no money in it. The fact is, the commercial aspect of this interesting subject led to a fuss long before the improved handling of the old discovery had got beyond the laboratory stage. Big brains are now working upon it, and, in due course, a practical method of utilizing the discovery will probably be forthcoming. Prof. Oliver Lodge, for instance, says he has an entirely new method of telegraphing without wires which will, he hopes, enable him to send messages long distances. He does not depend upon waves, but upon magnetism, which is independent of obstacles: and he believes it will be applicable to signaling between ships and between the shore and ships. Prof. Lodge's ideas are not for sale to any syndicate.