Daily globe., 1883-07-28
4 Legal QUARREL.

G. M. Dittman, the Real Estate Dealer
Sued for Debt-The Specifications in the
Complaint and the Defendants State
ment of the Case.
An action was begun in the district
court yesterday by Chas. Janney against
Chas. M. Dittman, formerly of the Bank Of
Monticello, to enforce payment of 1886.
1t is alleged that between June II and july
1.-the plaintiff put on deposit with defend
ant the sum of 5000; that only a small
portion of the money was drawn out, and
that the bank was recently closed and de-
fendant refuses to give an accounting.
Judgment is asked for 1886.
NIB. DITTMAN's STORY.
In view of the above action and the fur
ther fact that number of wild rumors
have been set floating concerning the en-
barrassment of MI. .Dittman, it was deemed
proper to see that gentleman last night
and substantiate the reports, or at least
obtain such definite Information one wav
or the other as would set matters at rest.
1t has been we'll knowd that Mr.. Dittman's
operations in real estate in this and other
cities in the state have been on a scale of
great magnitude, and there have been
those who have not hesitated to say that he
has lost considerable money in outside
speculations. 1t has also been intimated
that his dealings with a number of Door
people to whom lots were sold on the
easy payment or installment plan. were
such as they should not have
been, while insinuations were rife
as to his dealings with the bankers.
Mr.. Dittman was seen by a GLOBE re-
porter last night in company with his
counsel, Mr.. Warner, and while averse to
making his affairs matter of publicity. he
was finally induced to make a statement.
In the first place the reporter was assured
that the Indebtedness was entirely secured
by real estate and collateral. and with
reference to unfairness in any respect Mr..
Warner stated emphatically that in the
transactions of Mr.. Dittman there was not
the suspicion of anything wrong or ques-
tionable. The rumors to this effect were
denied with particular emphasis, and so as
to repel any unjust insinuations. As to his
embarrassment it came about through an
attempt to carry more real estate than he
could successfully handle in the face of a
depressed market and the dull times char
acteristic of this season of the year.
The net value of his real estate is esti-
mated at 100000, besides which he has
collaterals and stock valued at $4,000.
His Indebtedness at the banks is about as
follows:
Bank of Minnesota SI5. 600
Merchants National. Observation-Disclosures. $500
German American Observation-Disclosures, 0O00
Oeconu Nauonal ...'........ l,UUO
St. Paul National ........ .......... 300
Peoples Observation-Disclosures. 5000
This total of $54, 400 is all secured. The
depositors of the Monticello bank have at
tached property in Wright county repre-
senting more than the face value of their
claims, while the depositors of the Glencoe
bank have attached 16O lots to secure
claims of $500. The total Indebtedness is
stated as $160,000, consisting of purchase
money on lands, mortgages, etc.
1t is confidently expected that with an
improvement in values, and a better feel
ing consequent upon the opening of fall
trade, Mr.. Dittman will be enabled to pull
through all right.