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Show FORGERIES WRECK BANK New Orleans Commission House Suspends. UNABLE TO PAY LIABILTIES Advantage Taken of the High Credit of the Odendahl Company by Member Mem-ber of the Concern to Borrow Immense Im-mense Sums From Bxnks on Forged Bills of Lading nnd Warehouse Ware-house Receipts He Is n Fugitive-Sum Fugitive-Sum Ho Secured Between S150.000 and ? 178,000. New Orleans Nov. 1. President I J Odendahl of the Odendahl Commission Com-mission company, limited, one of the largest grain exporting llrms hi tht United States, has Issued the following circular to thu grain ttade- "We legret very much to have to advise ad-vise sou that our flriu Is forced Into liquidation and will not be able to pay its liabilities. You will spare us the necessity of making further explanations, explana-tions, as they nre painful. Our business has been very profitable profita-ble and large but the protlts have been diverted Into othei channels, not through ans fault or the w titer" Todas s clr.uiar follows ,i wldels-clnulaled wldels-clnulaled report of alleged forgeries on the part of u prominent oflUer of the firm, amounting to between SIM 000 and JWiOno and at the present time the following fol-lowing banks are known to hold the compans's paper In uppioxlmatels theae amounts Comptolr Nntlouale d'Kscomleede Paris. j;o,000, lllbernla Rank and Trust rompans, $50 000 Louisiana National bank, WjOO; Commercial National bank, MM0. 1 he Odendahl Commission compiny has done a large Rraln exporting business busi-ness and for sears has been In tho haint or borrowing larRe sums from ten tbiss to a mouth on unindorsed rotes secured by bills of lading, warehouse receipts nnd blanket Insurance policies It Is alleged advantage has been tnken of the high credit of the Mrm to borrow Immense sums from binks on forged bills of lading nnd wnrehousp reielpts and thnt this has been the cause of the fulluie V J Odenduhl. president of the coin-pans, coin-pans, was formerly president of the New Orleans Hoard of Trade and Is one of the best-known business men In the houth. The company bought extensively exten-sively in Kansas Cits. ht. Louis, Chl-tagn Chl-tagn and other cities. No warrant has been Issued for the arrest of the official alleged to be responsible re-sponsible for the failure of the firm, and he Is reported to huvc left the city. |