Rensselaer Semi-Weekly Republican, Volume 19, Number 86, Rensselaer, Jasper County, 5 July 1898 — GREAT FORTUNE GONE. [ARTICLE]

GREAT FORTUNE GONE.

Immense Losses of Joseph Leltrr Indicated by Heavy Loam Made to Meet Hia Debta. Chicago, July 2. —Levi Z. Leiter has completed negotiations with the Northwestern Mutual Life Insurance company for a loan of $3,01*0,000 for ten years at four per cent. The securities consist of a number of the most valuable pieces of business property in the city. In completing detuils of the loan, Mr. Leiter informed the agents of the Northwestern that he would probably require further advances of about $3,500,000 or $-1,000,000. The money obtained by Mr. Leiter will go toward the liquidation of debt incurred by his son, Joseph Leiter, in the recent wheat speculation. The share of Joseph Leiter in the immense estate of his father will be nearly, if not entirely, consumed by his speculation. Mr Leiter’s notice that he would probubly require between s(>,000,000 and $7,000,000 in loans on his property is taken to indicate the extent of Joseph Leiter's losses he is compelled to bear, being in excess of the sum of losses in the deal above Joseph Leiter's private fortune, which was variously estimated at from sl,000,000 to $3,000,000 before he began his career on the Chicago board of trade over a year ago.