Show FINANCIAL CRASH IN NEW ORLEANS FOLLOWS EXPOSURE OF FORGERIES BY MEMBER OF BIG EXPORTING FIRM I NEW EW ORLEANS Nov President I.-PresIdent 1 E E. J J. J Odendahl of ot the Odendahl Commission Commission Com Com- ml mission sIon company compan limited one of oC the largest grain exporting firms In the United St States tes has Issued the following circular to th the grain trade c We e regret very ery much to lo have hav to advise ad ad- 18 vise viso you OU that our firm la Iq forced Is-forced forced r into to liquidation and will not be able to pay 1 Its Us liabilities You will spare us the nee necessity of making further explanations lions as HS' HS they are arc painful Our business has been very r profitable ble and large but the profits tM have ha peen been diverted dl Into other channels not through h an any fault faull of oC the writer Today's circular follows a 0 widely- widely circulated report of alleged ed forgeries on n the part of a 3 prominent officer of the Iho firm flim amounting to lo between and at the present time the following fol 01 lowing banks hank are arc known to hold the company's paper in approximately these amounts Nationale Parl Paris iO Hibernia Bank and Trust company compan Louisiana National bank Commercial National bank U OO The Odendahl Commission company has done a lar large e grain exporting busIness business business busi busI- ness and for years has been In th the tho habit of oC borrowing lar large c sums from ten tenda da days to a month on d notes rotes secured by hills of lading warehouse I receipts and blanket Insurance nce policies It Is alleged ged d a advantage has been taken of the high credit of or the firm to borrow immense sums from banks on forged I bills of lading and warehouse receipts and that this has been the cause of the failure I F F. J Odendahl president of oC the com com- I I pan pany was formerly president of the 1 New O Orleans Board of Trade Trade- and Is Js one one of the known best business men in the South Th fh The company bou bought ht extensively extensively exten exten- In Kansas Kanus City SL SU Louis ChIcago Chicago Chicago Chi ChI- cago and other cities No o warrant ha has been Issued for the arrest of or t the e alleged to be re rl re- for tor the failure allure of ot the firm and he Is reported to have left the city Dewet Leaves aves London LONDON Nov 1 1 Gen Dewet started started start start- ed from London today for South ca He was heartily chewed cheered b by those who had lied gathered 1 to see him off |