The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1880-11-08
cosrnoLLlya ronK nAaKEr.
How Armour Brother, Of chicago. hnd'
$4,000 0e by Ihis Years Operations.

How Armour Br"ther., OF Chicago. hnde
S7.OoO.oOe by Ihis Years Operations.
CHICAGO, November 5.-The inside his.
tory OF the great Armour "pork corner"
in which the firm made profit OF 81 0OO,-
900, Is published here to-day. The history
OF the operations goes back to the summer
Of 1879, at which time Phil. Armour and
bis Milwaukee partner, John Plankington,
went to Europe with the intsntiou of cor
nering the pork market Of the world.
They were abroad about two months
and during their absence ordered
the purchase OF an enormous amount
OF provisions, including 60,000,0O0
pounds Of ribs, bought at lPss than a
cents per pound, and $50 600 barrels OF
pork at an average Of only IS per barrel.
On their return 10 America In September
they found the market strengthening
Prices went mp and they realized profit
Of 81 100000 In the next two or three
months pork advanced to $l4 barrel, and
ribs In proportion. Under the impression
that the boom was going 10 continue they
made further purchases. Then came the
reaction, pork goirg from Sl4 TO 50 25 in
spite OF III that could he done TO bolster II.
The 81, 100000 went and another 81 ,0O0;.
900 alter II. The members OF the tirm At
once set about retrieving their Losses, and
sent agents throughout this country and
Europe, and from the reports made salts
fed themselves that the product OF the
hog would be In demand for the ensuing
four months. They began In April to
purchase all tho actual stock in market
about 225 900 barrels on hand tere
and uias over 100000 barrels
in store In other cities. This they bought
at prices ranging from 50 so to siO 80, the
average being about $40. In addition
they secured "options" on l,25O,000 bar
rels more and then awaited Developments.
They took occasion TO let every body know
that they had all the pork in existence
and great deal more. The manipulators
had laid their plans to force the price up
to 500, but they wanted 1t 10 20 up gradu-
ally. But when 1t became apparent 10 the
traders and spectators that great bull
movement was on foot, prices were nup
with such rapidly that It was feared the
effect would brighten offthe "shorls" and
induce them to settle TOO early. To pre-.
vent such 4 move the Arm0uTs threw
nearly hall million barrels on the mar
ket, aud this served to check
the boom and keep it within their
control, and at the same time pro.
duce the impression that they could not
or did not carry out their published pro-
gramme Of forcing quotations to $50. Or.
eratioDs were not alone coDfiued " Amer.
ca, but all OF Europe was taken in, and
wherever men were found willing 10 sell
pork they did not have, the Armours were
graciousIy accommodating. They knew
that they held oil the pork, and that those
who had sold them the article would have
to come TO them Tor 1t or settle the differ.
ences The amount OF money that was
placed against this game was enormous
In striking this balance the lucky owners
oil the brace" fad that they have made
not lets than 81 1000 ono. In other words,
they got back the IS 100000 lost when
pork went down last winter aud s. 900 900
besldes. The Wall street dealers ieel rs
hard a. their Western brethren 10 misIor.
tune, and . vast sum Of New York money
is placed to tue credit Of the Chicago
bulls"