, 1872-11-16
THE PORK CORNER.
Some 3zes from the New
Something Concerning the Operations Of
Vim. Young & Co.
The Stock on Hand, and What They
viii Do with 1t,

From Our 0wn Correspondent.
New YonE, Nov. u, 1872.
Tho pork market in this city is in q state o.
martial paia1==is, which will become total If tht
IT originated by William Young q; Co., Of
city, is not brought to an end before long
they succeed, ns soma think they WILL il
6 the pork-packers to curtail their opera.
during the coming season. On the 1st in
the stock Of mess pork on hand in this city
only 19, 600 barrels, as against q, 900 barrels
the corresponding day last year, and of this
-ly all was held by David DoHs g.
Of 10. % South street, who ara
orally reputed to be the agents OF William
Cd Co.. Of Chicago. This shows that ou1
net has been depleted to assist the Chicago
nerers" III you will excuse the word) in
grand and comprehensive scheme.
the sales of mess pork made in this city fol
St three months do not amount, in the
egate, to one half Of the sales made in c
th when the market is in its normal condi-
OF COURSE, do not include in this state
the large sales made by dealers here to the
Of Young 4 Co., Of Chicago. Dealers
='sc-s here look upon the condition Of the
ct With despondency, not to say despair.
have had no trade for months,
profess to believe that the future out
quite as gloomy.
long conversation to-day with Colonel
Perry, one of our Oldest dealers, and
.;sted to him for many particulars which
har5; new to Chicago. Ills theory with
4 70 tie corner is that, lille the world-fa-
grain corners which have given Chicago
.,nelnental title Of the City Of Corners" :"
Al 11t} r1fr10 0f 1fc nyTt1 ifHf Tn ffla
,'i:ee, said be, now that these enterprieing
4tcrs have masRed all tie pork in the
.ry in their warehouses, they find
purchasers for their stock. True, they sell
u lots at q profit, and probably give the
rts pretty tight squeeze; but. then, the
crop is about due, and it will be the biggest
ecord- The heaviest packers in the West
iciE1ta crop Of at least {, 900, 600 hogs. Last
r (she heaviest then recorded), the crop was
o0,G1o hogs, in round numbers, and in 1871
t was 8, ,G50.0 .000- It would be an utter impos-
ibi}ity for them to corner such 3 crop ss this,
! thilk their only hope for coming out sound
Il their ability to bluff the pork packers. and
81 nievent the packing Of any large quantities
10. he M "a ::king will go on as usual, and when
be new crop comes in they will find themselves
addled with something like 125, 900 barrels OF
I'D mess, vhiel cost them probably s12.25 per
barrel.
leayy reduction in :rices, and thus the old mess
Vii Eaye to be iI,toNu on the market at o tre-
nendous m @ sacr;s-j. &C The large profits they have
de by squeezing the shorts will be rapidly
ten up b storage expenses ETC.. sofia 80 that their
One incident Of the corner WAS related to me
" Colonel Perry, which shows that its preliuli-
,ry stages we're managed with al addroitness
Indicating that practised hands we're engineer
ng the scheme. Some time last summer Young
:. r. - ijrroT 1-adh N11rhf hor
els Of cid mess pork Of g firm there at about
?12 barrel, making contract for its delivery
Chicago within certain dates. The Mi1wau-
:ee men thought they had what is popularity
and but they thought they knew where they
ould buy it, go they sent out their men and
ltiently awaited results. Returns came III
lowly at first, then more slowly, and finally
eased to come at all There was no pork to
I'll. Cincinnati was bankrupt, st. Louis de-
ut OF the question. Young g. Co. had been be-
-7e them. The corner was an established fact,
nd the purchase Of 10000 barrels Was coup
eat which made the unwary Milwaukee men
hoSl OF the market But their contracts must
g filed. and TO ELL them they must buy Of the
cry men to whom they had seid SO short time
go. This Was the very last feather, and the
ulvaukee men settled the differences and went
acE home profoundly impressed with the as- |
onshirgg genius Of Chicago dealers in corners.
ely By its skill in corners. It is the de- |
cenda2t e. generation or tF'o remo7ed) Of the |
nee famous hrm Of Stevens, Young d Co., of
1ontreal. Old Harrison Stevens, who has long
lining lights of his day in the list Of selfmade
n He started life somewhere up in Yankee |
-n--in New Hampshire, beleve,-as 8 farm I
rs boy. Before reaching mans estate, he
tuck out for himself, and was wont in after |
. rs to boast that he had dug more dirt |
1t rf he r1H r}ni.o at
ae peried Of his life than any other laborer, |
I'd had afterwards paid ittwice as much in tolls |
eny other merchant He built the Stevens
- in this city, then one Of the finest hotels !
the city. and retired from business many years
20, with colossal fortune. t
John Young, lis partner, is now Sir John
oung, and is, or WAS recently. Cabinet Minis
It Of the New Dominion. He was Vermont
y, and came from somewhere near the battle
ed Of Bennington. Twenty years, or more,
corner ever heard of in those compara-
'ely primitive days. They laid in over
1000 barrels Of pork. mostly in this
ty, where they had branch; and as pork was
erely an article Of speculation, they squeezed
.e consumers very tightly, But somehow there
q hitch in their arrangements-a fall in
ice, or something pf that kind-and they
'und themselves one day with a vast stock on
md, aad nobody to; buy it. Everybody pre-
Y, they carried their pork through tho
Ter. The crop that year was very Light, and
the succeeding spring they made fortune
1T Of what had been looked upon as very u1l-
ely venture. This may have been luck, but +
ink there was some business sagacity to help
a1ong.
After this, John Young became q public char
,terin Nontreal-hlled an A1dermanic chair
ith dignity, represented his city in Parliament,
ade.a solid speech or two on free trade, reci-
rocity, and kindred subjects, and at last, thcso
.ultifarious services coming to the ears Of Her
racious Majesty Queer Victoria, she was moved |
confer upon @ SohR Yonng g the shEewa Green
After old Stevens retired, the firm became
Ohm Young g. Co., then Holmes, Young &,
.napp and so on down to plain William Young
c. William Young is said to be a nephew Of
ir John, and there is no doubt that
q is backed in his present en-
.rprise By Montreal capital a provision
IN here, Who processes to know, says that tho
;ank of Montreal is advancing the money which
carving the corner through.
In October, the chicago men caught some Of
,e New York traders short for about 5000 bar
= but the risks were SO generally divided that
0 special excitement was caused. After that,
il tbs New York men fought shy Of pork and to-
- - o.r G,,irfy t1,air 5an1;1