Evening star., 1932-04-12
FINAL JOSEPH LETTER RITES
WILL BE CONDUCTED HERE
Burial of Noted Capitalist to
Be in Rock Creek
Cemetery.
Passes Away in Chicago
From Pneumonia Att
er Heart Attack.

ef Heart AttdCk.
Joseph Letter, whose colorful career
as a capitalist and sportsman gained
hina worldwide fame, will be brought
to the National Capital, where he has
been for many years a power in the
business and soc'al life of the city, for
burial tcmcz-ow afternoon in Rock
Creek Cemetery.
Mr.. Letter died in his Lake Shore
home in Chicago at 4 O'Clock yesterday
afternoon as result OF pneumonia
and complications which set in after
he apparently was on the road TO re-
covery from an attack of heart trouble
suffered about two weeks ago at his
Winter home on the Louisiana coast.
Funeral services are to be held this
afternoon in the fashionable st. Chry-
sostom's Church in Chicago, following
which the body will be brought to
Washington for the final rites. The
services here are to be conducted with
the utmost simplicity in historic st.
Johns Episcopal Church. overlooking
Lafayette Square and the White House.
Simple Funeral Rites.
The Rev. Robert Johnston, rector Of
ST. Johns, will offfciate at the services
here, which will be attended only by
members of the family and the closest
friends. There will be no honorary
palibearers and even the musical Serv-
ices will be omitted Mr.. Letter win be
buried in the family plot in Rock Creek
Cemetery.
OF massive figure, Letter was a
familiar person at nearly every race
4 Al 1rr
well known in the halls of business and
finance. His first spectacular venture
in business. when he tried to corner
the Nations wheat market In 1893,
brought him into the lnlelight Of pub
bic attention in which bis colorful activ-
tiles had kept him during the re-
mainder of his life.
Since he first hlazed across the skies
Of the business world. Joseph Letters
name has appeared frequently in news
paper headlines over the whole country.
He caught public fancy and held 1t
with his tireless activities as q grain
trader, railroad and utility operator.
breeder of race horses, promoter OF
races and big game hunter. His income
at the time of his death was estimated
at $1,oo0,0e0 year.
Prominent Here.
Joseph Letter was q prominent figure
in the National Capital. where be be-
came q business leader In an effort to
came president Of the Washington Gas
Light Co.
He owned the beautiful home at 1900
New Hampshire avenue, on Dupont
Circle. which, was built by his father,
Levi Letter. one Of the Nations fore
most merchant princes. and formerly
owned o home known as the Glass
Palace. which he built for his wife on
the Virginia shore of the Potomac, be-
tween Chain Bridge and Great Falls,
near Langley.
Mr.. Letter was a member Of the
washington Board Of Trade and Wash
ington Chamber Of Commerce and Of
many local clubs, among them the Uni-
versity. Metropolitan, Army and Navy.
Allbi. Chevy Chase and Riding and
Hunt Clubs.
Attempted Corner Failure.
old-time operators in the Chicago
grain pits still delight in telling Of the
stormy days way back in '97" when
Joseph Letter. then a youth Of 29, tried
to corner all the wheat in the United
States. And with q subtle gleam far
more significant, perhaps, than the lay
man Is able to appreciate, they don't
forget to add that before the gigantic
scheme collapsed the game Of bushels
and margins had swallowed up from
$4,000. 900 to $12, 600. coo of the Letter
family fortune, as well as some 81 ,o0O, :
600 in paper profits" standing to the
credit Of the terrifying young manipu-
lator at the height of his career.
iv,
Joseph Letter reached manhood the
heir to one of the largest fortunes in
the country. His father, Levi zeigier
Letter, was member of that coterie Of
Middle Western multimillionaires num-
bering among its partners the first
Marshall Field. one Of the richest
merchants IN the world, and p. d. Ar
mour. founder Of the great packing IN
dustry that bears his name.
Young Letter, the only son Of q SELF
made father, who had begun life as q
country store clerk, was educated at st.
Paul's, Concord, N. H., and Harvard
University, receiving the degree Of A. b.
from the latter institution IN 1891.
Upon his graduation his father pre-
sented him with 81 900 900 in cash and
gave him free reign to try his hand
in business. He showed such aptitude
that he was soon made agent for his
fathers estate, and by 1897, when he
embarked upon his famous ventures in
wheat, more than $50, o,o0o, 900 Of the
Letter properties were under his direct
control. Among other Offices, he held
the presidency Of q railroad. headed Q
great Illinois coal company and was q
director in several banks and trust
companies.
Tries to Buy at 73 Cents.
The huge wheat corner-most am
bilious as well as most disastrous Of
several such schemes attempted in the
Chicago grain pit-was launched in
April, 1897, when Letter began buying
wheat at IS cents o bushel on the bull
side, dealing chiefly with the Chicago
Board of Trade. Eighteen million
bushels Of cash wheat and $4,000, 600
bushels of futures were at one time in
the hands Of Letter and his associates,
and by May 10, 1898, they had forced
the price up TO sl.S5. q new high
record.
The battle for supremacy in the
wheat pit ragged throughout the Winter
of 189798 without quarter, and during
the period millions Of dollars were
poured into the corner. p. D. Armour,
whose huge grain elevators lined the
banks Of the Chicago River. had sold
5000, 900 bushels Of grain to the Letter