Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-12-29
4 BANKER,s Rise AND PALL.
The Remarkable Experiences Of FinaneisE
DItmap, Of Philadelphia.

The Remarkable ExpsrisBes Of Financfer
DIrmau, Of PhiIadslDhia.
Philadelphia Record.l
The story Of the financial rise and fall Of
Banker Joseph G. Ditman, coupled with
his subsequent disappearance, makes most
interesting tale, and one that rivals many
romance. Mr. Ditman's father was q.
farmer living near Frankford, in comforta-
bic circumstances, and q man Of much
force Of character. and his memory is re-
vered to this day by his many friends and
acquaintance in that section.
When a boy, young Ditman entered the
employ Of William II. Flitcraft. a papeR
dealer at Fifth and Minor strets. In eourSs
OF time be rose to the position Of salesman.
and at the age Of % years embarked in the
paper business for himself on the small cap
ital OF $1,000, borrowed from friend, who
was afterward repaid fourfold. Soon after
his advent into business Mr.. Ditman mar
ried Cecilia, youngest daughter Of the late
Marcus L. Bulkley, at that time q coal
operator and purchaser OF coal lands for the
Reading Railroad under the management
Of the late Franklin B. Gowen.
Father-in-Law Bulkley Joined Mr.. Dit
man in business in 1871, under the firm name
Of J. G. Ditman & Co. They began with .
cash capital Of $50, 900, and from that time,
as Mr.. Ditman's business associates used to
say, everything he touched turned into
gold"
At the end of seven years Mr.. Bulklev
retired from the firm, and, in addition to the
annual profits that were divided between
the two partners every year, Mr.. Ditman
handed the retiring partner a check for
$40, 900 as mis- share in the capital OF q con-
Germ that had begun business seven wears
before on joint capital Of $50, ,000
About four years ago he disposed Of his
business to A. G.. Elliott 8 Co., and bound
himself never to re-enter the paper trade in
this city. When be retired be had fortune,
according to his own statement, within :
fraction OF $500, COO. He believed that .
profitable field lay before him as .
money lender. But with all his
knowledge, it is said, he lost heavily.
covered big hole in his fortune His old
time luck deserted him, and he got caught
in so many unfortunate speculations that 4
short time ago he found himself stripped Of
his once handsome fortune. The blow was
a heavy one, and, as it now appears, was
sufficient to weaken his mind; but be was
careful not 90 allow his wife or family to OBJ
tain any knowledge Of his financial Losses.
Mrs. Ditmsn is regarded BY her friendsas
a noble-minded woman. A creditor who
was indebted to Mr.. Ditman in the sum Of
$40, 900 once appealed to Mrs. Ditman to
plead his cause with her husband. The
creditors wife also waited upon Mrs. Dit
man and added her entreaties to those Of her
husband. The appeal was successful, and
Mr.. Ditman agreed not to levy upoa the
mans property. His kindness was poorly
repaid. as he recovered only 1000 Of the
debt, yet it is stated that the creditor is now
worth $50, 900, and lives in style betting
the possession Of that sum.
All Of the family believe that Mr. Dit
man was drowned in the SchuyIkin on the
night Of his disappearance.