New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-06-15
AN ATTACHMENT AGAINST LETTER
SECURED BY OTTO z I.oHRKE co. FOR s7e3.
noa z5-EI-E,Ec-, on TIE MARKET

SECURED BY OTTO T. IOHRKB co. FOR s7e3-
e25 75-Ef-FECT on THE MARKET.
PROMPTLY following the news Of tho downfall OF
Joseph Letter in Chicago the grain commission firm
Of Otto E. Lohrke & Co. whose Offices are IN the
Produce Exchange building and who have been Mr
Letters shipping agents IN this city. obtained on
Moniay afternoon from Justice DAILY. sitting In
Part H. Special Term of the Supreme Court. an
attachment FOR t7s3s25 10 against Letter. on the
ground that ne is q nonresident. In their applica
ton FOR an attachment the plaintiffs f.
Lohrke. William p. Callaghan and William Knight
composing the firm OF Otto T.. Iohrke Co-ahege
that between February and June 10 they had PAID
out and advanced various sums OF money for MI
Letter and performed work labor and services and
agreed to pay various sums OF money TO other par
ties obgating themselves therefor. This was done
on Mr Letters promise and agreement that he
would pay 10 Otto f. Lohrke & Co. Immediately
and upon request the full amount OF such advances
and all sums which they would promise and agree
10 pay at his request and the full value OF ser
vices which they would render at his request The
payment Of the s7e2.e25 had been demanded. and Mr.
Letter had failed to pay It or any part thereof.
Deputy-Sherir Burns yesterday served copies OF
the attachment upon three banks In which 1t was
supposed that funds belonging 10 Nj. Letter might
be on depost-the Chase National Bank and the
Hanover National Bank. both Of which are local
correspondents Of the Illinois Trust and Savings
Dam. ana INC BANK OF MONtTfd, III A'iS"N
banks will send certificates today TO the Sherry
showing how much. II any. money belonging 10 Mr..
Letter Is he'd by them respectively. Mr.. Lohrke
declined yesterday 10 discuss the question OF the
attachment proceedings. Tho FIRMS attorneys are
Parker & Aaron. OF No u Wall-st. MI Aaron
'aM yesterday. when asked what property his
cients expect 20 attach:
i % not think mat anything will be attached,
cont believe that Mir Letter had any money In any
local banks. We directed by Mr.. Lohrke
YESTERDAY afternoon TO get out the summons com
pant and undertaking on the ground that MT.
-s.ler was q non-rtsident ,,
Ny Lohrkes action was taken because things
.ooke1 dubious for Letter YESTERDAY ana because ne
eOuid not be reached by wire In Chicago. LohTke
aSout $50 900 worth OF storage, freight and transfer
charges on inland wheat bound for Europe. besides
wshom this money due became anxious when
As we could not get any word 70 Letter yester-
gay Ir Lohrke got out the attachment with
ktsp the matter in his hands in case there should
T. any other ATTACHMENTS: Practically Lohrke IS
r mhieh are in the shape Of certificates for grain.
most Of which is bound for Europe
..eters prospects look so much brighter to-day
,Nat Mr.. l.ohrkes action OF yesterday seems TO
"s'e been an unnecessary precautionary measure.
Il was reported in Wall Street yesterday after
ICON on what declared 10 DO absolutely trust
froIhy authority, that the actual condition OF tho
ILe.ter collapse IS substantially as follows The
an ssax - hold ten million bushels OF wheat In store
No..
49, xt 70 he banks % 10 to M cents bushel. TO
ms s.ch average price It was margne6. An agree
~" ..t mas been made between L. Il. Letter. Joseph
.Ier iathef, and the banks that the loss Will be
n. ny mace gooG on condition that the banks grad
NJ market the wheat without disturbing values
90 .he Letter deal been closed with the last day
ms, Say' ana wheat IN hand dumped upon tho
II s Letter would have prohted about 10000
e 81 Is s2ia. Higher estimates declared to be
ssAliayagant. He now stands TO lose not more than
Is said. '0' ''0-"'e " '~p'D''' II N''''"so
biz "S developments o. Monday IN Chicsg 60 and the
In NJ
a SsrA erect Of keeping the local wheat market in
orinSoe iereilsh condition yesterday, despite tho
YIN OF the hest-nformed houses that no New
thrna. "iIs would suffer through Letters
TIE aaahQ cespite the presence Of bullsh news
ming or the attachment against Letter by
ever H 20. * Co had disturbing effect which how
foreion hOcn coLnterbalanced by unusually heavy
msrL. ouylhg. As the morning advanced the
to rec became sieader and the bu factors began
ons,.s We some measure Of consideration. July
over =, d, " cents. an advance OF cents bushe
cen,s 10" eiosing quotation Of Monday rose 10 81
AZ poid down as low as SO cents. snd closed at
q cert ~ het gain for the day OF one-Quarter Of
three ecua posael The September delivery opened
S"ar'eis OF cent up. at 1Gi, cents, and closed