Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1914-12-15
FREED OF
S3SO,OOO NOTES
Jury Decides He Was Double
Crossed by Peavey
Interests.

Chicago, ILL.,. Dec. 15.-Joseph Lett
er's contention that he was double
crossed" IN tis attempt to corner the
wheat market in 1898 was upheld yes
terday by 4 jury in Federal Judge
Humphreys court.
The jury returned two verdicts in
his favor in the suit against him for
the recovery ;of S3SO.935 principal and
interest for 16 years on TWO notes he
gave for $685. 600 bushels of wheat
The jury took the view held by the
defense that the attempted wheat cor
ner was an unlawful conspiracy and
tina Letters notes given under those
conditions are void.
II took the jury about fifty minutes
TO reach a verdict.
The Interior and the Monarch Eleva-
tor companies of Minneapolis were the
plaintiffs. the nominal plaintiff in the
case of the Monarch company being
Chester w. Lane. One of the notes
was assigned to Lane, who was the
Monarch company's auditor.
Attorneys Dwight S. Bobb and
James B. iWescott took a number OF
exceptions to Judge Humphreys
charge. The defense held the notes
were given for straight cash transac-
tions and that if there was a conspir-
acy to corner the market, the elevator
corporations had nothing to do with ii.
IL was shown, however. that +. II.
Peavey was president of both elevator
companies. and that his heirs and for
mer business associates now own S4l4
per cent of the stock Of the Interior
company and 80 per cent of the stock
of the Monarch company.
Peavey. according TO Letter, was the
man who refused to bind himself in
writing 10 abide by the agreement to
keep wheat out of Chicago during
Letters operations on the 9loard or
trade. He said. Peavey's objections
were based on fear of going to jail"
We'll. l finally got Justice" Mr..
Letter said. after he had received the
verdic. Il am indicated. and the
verdict shows that my position on this
matter has been all right all the time.
Il should like to correct the impress
sion tina c. A. Pillsbury had anything
TO do with the Judas play against me.
He did not. He was in the pool. but
he was straight as die. Ii was Pea
vey who double crossed me.
IF Peavey hadn't sold me out, |
would have got out all right and made
2 lot of money. There is no doubt
about that. You see, Peavey had the
warehouse receipts owned by Pills
bury. Peavey and myself.
''It was he who busted the market
wide OPEN as he expressed il. lie
sold our wheat, of which he was Gus
todian, and used tbs money so OBJ
taiped to march in the short accounts.
why they offered to sell me the
notes for $4,000 about a year ago.
When they came TO me with that prop
osition ! told EN- No: you sold me
ou'. and ] am willing to spend more
money than is represented by the
notes in order TO get vindication.'
20. Peavey was a dandy. He made
pile IF money He had his life insured
for s1.OOO.0OO. and six weeks later he
died of pneumonia
While awaiting the jury's verdict
Letter was served with a summons in
another sui against him in the NUM-
cipal court for 100000. The plaintiff
is Anton HUM of Minneapolis, former
grain inspector for Letter.
HUM alleges the money is due him
for services during several years as
grain inspector.