The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1898-06-20
WOMEN HIS RUIN.
A Fast Life Responsible for Lei
ter's Fall.
Favored His Female Friends
with Tips on the Market.
THEY GAVE HIM AWAY
Time Necessary to Business De-
voted to Pleasure.
That is Why His Father With
drew His Support.

story in which appear the alleged causes
of Joe Letters downfall. 1t runs as fol-
lows:
Letters easy and gay habits away from
his office have been the subject of know
ing comment among his acquaintance.
The young man who in a plain little Of
fee sat at his desk in a chair tilted for
ward by having it's front legs shortened.
and there, while literally sunk down to his
ears with his work before him, planned
and directed schemes of Napoleonic dar-
ing, was another being when he left his
office behind him. His father has long
known of this and chose to overlook it.
Now he realizes that it played an import
ant part in the huge collapse that mas
SThe blow has had little effect or the
markets, and this is an additional humll-
when he should fall many must fall with
him. Only a few firms here ana there
Had Joseph Letter been content to
give his attention to it, he would
still be financial king. But ne spent IN
to have been spent in work. And. pulled
up by his phenomenal success in one aeld
ings in stocks of various kinds. The
strain of such varied and complex speeu-
low. the noise Of whose dSwnf;al was was
markets of cities thousands of miles away.
thought that he could take up business as
brilliant and gainful pastime. ,,oo- oro
that Joseph Letter, now only thirty years
SSld began his phenomenal Hd men ds career , But
young man of ordinary ability and quail
e ced He ha1 was eh hand Esm Of spiendd
physique, a triffe over six feet In height
was parted in the middle. He wore the
finest clothes. He loved horses yachting
He is a gay fatalist. He believes that
if man is meant by P r. to sqceeed
to suffer from the high price of bread
they must suffer. Now, when disaster
boid front tan and says that it is mere
happening that could not be avoided, and
test his fate with fortune.
shortly after leaving college he was
His father expected him to lose it, and.
indeed. he did. lose most of it., But ne
led the details of street railroading and
learned the cost of operative electricity
and how to know sailed mine from the
He still laughed and danced and kept up
learned hard facts and human nature He
began to win before he had lost the full
million, and after awhile had more than
recouped his losses.
mixed character. His eyes can be very.
gentle. but his enemies see them burn with
but there is a sensuous broadening at tho
i3Wgr END e of the n0 ogv 1S or P P unat
can tighten in firm lines.
His chin is broad and determined, but 1t
from high living and the indulgence of
passion and appetite. In these dual char
acteristics lie the secret OF his rise and of
Letters Victories continued He was
was a man who watched the crops and
the fluctuations of the markets in every
hat G he ' had made heavy EGropean COM
tracts, to sell, long before he began to
He is man of curious opposites and
who prides himself on attention to small
details. Visitors to his office are COM
PEELED to take their turn.and the other day
a man who, as Letter knew, wanted to
rent from him property at $4,000 a year,
was compelled to wait until a man with a
basketful of rare fish had shown his goods
At another time his broker. called him
up on the, telephone to tell him that g
ITS got to wait" said Letter coolly.
and rang off to go back to the man with
whom he was talking. 1t was one of his
tenants, and the matter in question was
whether or not a new sink was needed in
the house. That momentouS affair set
ranged for the 500. Oo5 deal
Row is the time, to sell May wheat.
Don't breathe a word; but Joe says So
The Joe" referred to was Joseph Lei
ter, and the speaker was Nina Harrington.
was one of Letters gay friends. and he
told her enough of his plans one day last
arg SUM no pus She her in m turn G5 to t
her chorus girl friends in New York. and
cagO and am better OH than when L was
on the stage. Now, let me tell you in
confidence to buy May wheat. Don't till
[ telegraph you, and If you follow my adj
vice you will make enough to buy new
spring bonnet
A few days later she wired to jeanette
to call her up on the long-diStance tele-
phone, and then told her what Joe had
advised. Joe did not expect that his
secret would be passed about, but it FL
tered out to many, and dealers heard OF
In his year of brilliant speculation Lei
ter is credited with having cleared over
IS. 900, and in less than two days he lost
more than that.
That under the fever of prices that
companied his speculations the price of
wheat went up and the price of bread fol-
lowed, and that the poor all over this
country cursed him, was nothing to him.
He merely laughed again, and said that
he really must start on that long yachting
trip. He defled public opinion, and said
that he knew he was acting within his
rights and the law.
The bakers associations of this city de-
cided to put back the price of bread, and
Letters downfall. 1t is unique among
business collapses. in that it results in
Cargoes of grain for Letter. were stop
ped at Kingston by the Canadian authori-
ties until the purchase price and all
charges are paid.
1t is said that Letter, through brokers,
disposed of $1,000 shares of stock, 1ncIud-
ing Chica go, Burlington & Quincy the
Peoples Gasnght and Coke company and
the Baltimore & Ohio.
Summer Tourist Rates.
Colorado and return for $24.00 from