The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-08-05


this, there was an excitement raised by the wire
operators in beef cattle at the West in the spring Of
1855 as to their scarcity, and through speculation,
they placed II here almost out Of the reach Of any
but wealthy citizens 10 enjoy sirloin-a state of
things which was, through the forestaling process,
continued into the sumner. 1t ruined, however,
large proportion of spectators. About the same
time reports freel! circulated here and through
out the West, that owing to the short crop of corn
the year previous, tens thousands ofstock hogs had
died, and that in no event could it be possible pro-
cure, at the great packing points, more than half or
twothirds the number Of hogs produced the year be-
fore. From this commenced the offering and contract
ingby the packers, at prices almost unprecedented,
which continued nearly to the close of the last
packing season; and then to show the danger OF over
estimating on short supply in the great West,a
high prices, the number of hogs cut and packed
the large points, at the last packing season-lS5
and '56-showed large increase in numbers, and
full ten per cent increase in weight. This state o
affairs became at once alarming, and the question
arose. what is to be done to get these wild and reck
less operators out OF their difficulties
A few very wealthy houses in this city had accept
ed for these operators to an immense amount, and
at once set up the hue and cry that the statemen
made by the Cincinnati Price Current (Which ha
heretofore been cons tered correct authority wa
erroneous and not to be relied on.
This statement made the number of hogs packed
West, including increased weight, over 500 900 in
number and not bringing into the account au excess
OF over two hundred thousand packed here.
This at once caused our dealers who had been in
the habit Of seeing the business done here in lie
gitmate manner to take sides with the Price Cur
rent and from this spring has commenced species
OF gambling, which is carried on in this way. The
dealers last winter and spring sold short, mostly de-
liverabe in July, from SIS to $l8 per Dbl, near
10000 bbls and nearly all of this large amount was
sold to the very same houses, who were the heavy
advancers to the Western packer and speculator,
who about that time wrote and urged those
Western consignees to hold back their pork
hide it away and deny there was any at the large
packing points, or only enough for home consump
ton, promising il they did this, that 1t would enable
extent, and teach these dealers who had dared TO
sell short lesson that they would long remember,
knowing at the same time that they controlled as
acceptors seven or eghthtenth OF all the barrel
pork here and West. This game, up to the present
time has been very successfully played and will be
continued for some time to come, as many OF the
contracts are yet to mature, during this and next
mouth.
The exhibit showed on the LIST inst. by the nspec.
tors of meat, Al 900 barrels of pork, which is be-
eved by the trade to be 900 barrels less than are
in this city and Brooklyn and the fact that there is
known to be near $4,000 bbls. at Louisville, and
10 900 bbls. at st. Louis besides large amount at
other points and in transit, ought in my estima-
tion to satisfy any reasonable mind that there is no
gOOQ reason why the consumer mas been compelled
TO pay the prices Of fresh beef for barrel pork or
will do so, to certain extent, especially when bar
rel beef has been most Of the time full 100 per cent
less; but unfortunately for the consumers the game
has been played as to enable these acceptors not
as exactly they pretended to their customers to
keep them from losing money, Qor this they can.
not do,) but to enable themselves to bag some
seventylive to one hundred thousand dol
lars, and this out Of their pretended re-
gular business, at the expense OF the con-
sumer with this Immense stock on hand and vet |
to forward. But is stated by this combination
that there is to be great scarcity Of hogs, West
the coming season. Can any sensible man, who
knows the of the great West believe this
for moment when it is well know n that from one
quarter to half of the last years corn crop is
now in the hands Of the farmers with the prospects
Of an immense crop the present season? But they
say that packers at Cincinnati and Louisville are
now contracting at SIC to &c. for hogs for Move n
ber This, to small extent, may be SO; but If so,
1t is only carrying out the gam0 that Is not yet
finished: and what do they care If they should lose
few Thousand dollars on q few thousand hogs, if by
doing they enable their friends here TO con.
tinue the present prices for O while longer. would
here state that the writer OF this has not been nte
rested in any of these gambling operations to the ex
tent OF single barrel; and IL these statements which
believe are not coored near as high as Is believed
by the trade truth warrants will the thinking
public to fully understand why barrel pork has ruled
for the last sixty days from $40 to 81 per bb with
the immense stock on hand here and West, and an
unprecedented light demand, while mess beef has
sold at from 50 to Sill. CONSUMER.