The People's vindicator. [volume] (Natchitoches, La.) 1874-1883, 1880-10-16
rhe Great Corner In Pork and the Han
who Engineered It.

The Great Corner In Pork and the Han
Who Engineered 1t.
Or all the men who have cornered the
Chicago market, says correspondent
Of the New York Sun, Philip ID. Ar
mour, the manager of the present g.
gantic pork deal, is the most thoroughly
disliked by the "boys." He is one OF
the severest men on the Board. Hutch
inson, Lyon, Sturges, and other old OPP
orators who have in their day run cor
ners, always had little mercy on their
victims, but with Armour it is different.
He demands the fultillment of the bond,
even to the pound Of flesh.
1lr.Armour, who is Of Scotch descent,
is about fifty years of age, we'll preserved
and quite portly in appearance. Hewas
brought up on a farm, but when ayoung
man entered into business in Milwaukee:
From there he removed to Chicago about
fifteen years ago. He lives in atlluence
in the southern part Of the city, has a Gull
tiyated musical taste, and supports the
choir in leading south-side church.
The Armour house, of which ne y the
head, is really quadruple one. Chica-
90. on account Of its business import
-ance, is the headquarters, but there are
defensive branches in Milwaukee,, Kansas
}City, and New York, each being under
the personal direction Of some memoer
.of the firm. The capital Of the firm &C.
tiyely employed is variously estimated
at from SIS, coo, 900 to SlO,OOO,OOO. It u
[.bv all odds the most extensive packing
and provision house in the world. IL
ability to control means in its business
Is plainly shown by past corners in PORK
and corr, and the present one in pork and
meats. Armour has made most OF nj;
mcncy since 1870 in packing pork and
| handling grain, and in extensive spec,!'
lations in both of these articles. lie il
largely interested in wheat now. Be-
sides his deals in pork and wheat, 1t Ii
believed that on the first of the present
month he got control Of the lard mar
ket. Although he has as yet failed t.
DISPLAY his strength in that line, it il
known that be recently checked out ove1
81 ,OOO, 600 for lard delivered to him OF
September contracts.
The present corner gro" cut OF the II
feeling engendered by ARM VS. losse
in buiiing property after the opening o.
the regular packing season in 1879. A
that time Armour had made up his mint
from personal observation in Europ'
and extensive correspondence that no!
products should rule high in sympath.
with breadstuffs, on account Of the ligh
condition Of stocks in England and o.
the Continent. He labored to advanc
nrices. but was oversold by the trade
who, being influenced in their opera
tons by the large packing in progress
during the winter, and the large stoc
of hogs available for summer cutting
were free sellers. His losses from tn
steady depression in the market whlc
} this state of affairs brought about az
said to have been very heavy. To n
cover some part Of the money droppe
7 by him. he, at the close Of the packin
, season, obtained control Of all the winte1
, cut meats in this market, amounting
several millions Of pounds. His holt
! ings at one time were not less than Az
| OO0, COO pounds. After getting contr'
| of the meat deal, which occurred
. March last, he gradually bought u
t pork, and by the middle Of May he ma
: complete control of that article ais
= Pork being the leading speculative art
8 Gle in the provision line, Mr.. Armo,
D found no trouble in obtaining all Il
n option contracts necessary to make b
. pork transaction profitable one. Sim
:, NAV he has steadily squeezed the ma
i ket, ana has advanced prices from abo
q 80 to $l7.75 per barrel.
's After Armour obtained control OF Il
- cash meat and portland it mig
% truthfully be said Of the entire provisi'
Is market-he did not sit down and wi
It to sell, but established agencies in eve
T. place of importance between the NJ
Q souri River and the Gulf Of Mexico, al
l. in all the English and Continental ma
9 kets, and worked off the better part
d the product on hand at saving prict
3: He has opened these agencies to such
u extent as badly to cripple the provisi
8: brokerage business in Chicago.
y This great deal will probably wind
u by the opening Of the regular packsi
IS season on Nov. l, but its effects will
+ felt for some time longer. Since
house of Armour went into the c.
ner il is estimated that it has handl
GOO, 900 barrels of cash and option POI