Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-08-14
DIT'EMAN DISHED.
A Criminal Prosecution Launched Against
the Great Specu1ator-He Passes TIE
Night in Cell at the City Eal1-some
Details of His Transactions.

Spectator and facile financier, whose brief
and rapid career has exemplifed the fatal
mania of how to make money fast and
easily.
To a radical defect in tempera-
ment in this respeca is due the in
generation in felon's cell of one of the
best known business men in st. Paul. The
causes which have led to this catastrophe
are many, but mainly is his predicament
to be attributed to a spirit of grasping and
mistaken enterprise, which bends all its
energies to the accumulation of wealth.
The arrest of Dittman, which
has been expected almost any
time within the past few weeks,
took place about noon yesterday, and it
was made on the strength of warrant
sworn out by George Barbaras, of the
German-American bank, of Hastings.
The warrant charges Dittman with hav-
ing felonously uttered and published
promissory note for $1,000, bearing the
forged signature of E. A. Whitford. It
was placed in the hands of Capt.
Bresset, who collared his man
in the Bank of Minnesota shortly before
noon, but as the accused asked leave to
look up bail he was not brought to the city
hall until o'clock, having at time failed
to secure the services of bondsmen.
As before stated the arrest of Mr.. Dit
man was but the bursting of the storm
cloud whose rumblings dave been heard
in the business armament for some time
past, and therefore The mere
fact of his having been taken
into custody did not occasion so much
surprise as it would have done had the
! premonitions been absent. The same
bank, it is understood, which swore out the
warrant, have another charge of forgery
amounting to 1000, but as compared with
his other alleged transactions these are
but flash in the pan. Last night all
sorts of rumors went afoat concerning
| his transactions and it was
almost impossible to obtain
anything like a consistent or reliable
story, particularly as the ones most inter
ested and moss qualified to speak pre-
served most obstinate silence.
The transactions of Mr.. Dittman up to
short time ago have been simply enor-
nous, and he has made so many lurge and
reckless trades that his friends
have almost doubted his sanity.
The naodus operandi has been quite
unique, particularly with regard to his
dealings with the banks, his favorite
scheme being to duplicate notes. The
way he worked it was this: Upon making
sale of real estate he would receive for
example 81 900 down and the note of the
purchaser for similar amount. Depos-
iting this in one of the banks he would
make duplicate copy of the note and
place it in one of the other banking
houses where he had running accounts
and thus draw on both accounts. The
original note would generally be lifted by
the maker and at the start the forged note
would be taken up when due by Dittman.
After while, however, the scheme did not
work so smoothly, and on one occusion he
failed to meet the payments and the bank
which held the forged note sent it to the
supposed endorser for collection, he hav-
ing already lifted the original at another
bank.
II this way it is understand Mr.. Lane K.
Stone paid two notes of $4,000 each,
while the firm name of Walker, Judd &
Veazie is said to have been forged to the
extent of $50. 900, to say nothing of numer-
Gus other escapades.
1t is net presumed by the friends of Mr..
Dittman that he originally meant to be
dishonest, but being engaged in numerous
heavy transactions and pressed for ready
funds, he took this means to bridge over
what was considered temporary embarras-
ment.
His method of dealing in real estate was
purely on the option plan. That is to say,
he would procure piece of prosperity, pay
nominal sum down to bind the bargain,
and then he would try to realize on the
property at an advance before his purchase
money was payable. Occasionally by this
means handsome profit would be real
lied. but again it would not work, and if
unable to consummate the sale the earnest
money would 60 by default. In one
instance it is known that $500 was
put up as margin on purchase, and be-
ing unable to make sale or raise suffici-
ent means, the money was declared for
feited. In this way he is said to have lost
large sums of money.
Latterly, however, real estate dealers
were shy of accepting his bids unless
backed by certified checks, while the banks
have granted but few or no
| favors. According to statement
given by EMr. Dittman and
his attorney and published in the DAILY
GLOBE about two weeks ago. His indebt-
edness is IN the neighborhood of 100000,
while his assets are nominally stated
in round figures at $25O,OO0.
As stated in previous article in reference
to the local phase of the matter, the banks
of this city have been fully protected
against loss, but it is thought there are
several outside institutions yet to hear
| from.
As there was nothing small about the
man he took an occasional whirl at wheat
and when margins were not handy he is
said to have put up real estate as security
against loss on the deal. In this way one
or two city firms came to have
confidence in him and trades were
sometimes made without margins, the re-
suit being that the parties taking the risk
are now compelled to stand the loss.
DITTMAN's STATEMENT.
Mr.. Dittman was seen by GLOBE re.
porter last evening, and in replying to in
quiries said that his predicament was due
to his father-in-law, Mr.. j. G. Bettinger
who had endorsed his note for $1,000 Oh
the bank of Hastings, and who had let il
go to protest. 'My affairs are in such
shape" he continued, ''that no one will