Rear mounted telephoto attachments of this type are a negative lens that goes behind the main positive lens to make the rays converge slower, so that the combination has a longer focal length. That positive-negative arrangement is also how a Galilean telescope works (negative lens as eyepiece), which is presumably why you can use it as a telescope, but I doubt that was its original intention. The telescope eyepiece has a shorter focal length than the objective, while for telephoto lenses the converter should be longer focal length than the objective, so that's a clue.
The telephoto effect of greater focal length decreases as you increase the distance between the lens and negative attachment.
If the attachment has a shorter focal length than the primary lens (for example a 300mm main lens and an attachment with focal length (-)200 mm), then the combination won't work as a positive lens - the attachment is too strongly diverging.
My guess (not really knowing anything about Dallmeyers in particular) is that the attachment is intended to go with some other lens. You could probably figure out what's going on by measuring the focal length of the attachment, but measuring the focal length of a negative lens is a bit of a pain. One way to do it is to measure the magnification of the Galilean-telescope configuration, which is the ratio of the focal lengths of the objective and eyepiece.