, 1880-08-20
THE PORK DEAL,
Another Squeeze Given to the
Boys on the Short Side.
Asa Dow Called On for Adflf.
tionnl Margins, Which

~@*S~ A@o" StsEkNSA MI 4O1 1ANAA"
tional Margins, Which
He Refuses To Put Up, as He Regards The
Price Fiotitious.
There was very painf,lt rumor OH foot IN
commercial circles Inst evening, to tho elect
That tho woll-known Asa Dow, ESQ.,, cx-
presidete OF the Board Of Trade. had omitted
to respond 10 "callB" " for margins OF certaln
polk transactions OIL 'Change. It was we'll
known that Mr.. Dow was involved In tho ieaI
10 no small extent, aud everybody wanted to
know what It meant In the csse Of an ortli-
nary man the failure IN respond to margin
call, either by "putt1ng up" the money OF
settling up the deul, would be regarded rs
tantatnoltnt to a suspension; for trailing on
tho Board Is something like banking In This
respect that failure to respond on tho
Instant is equivalent to a failure.
but Mr.. Dow's wcilknown cccen.
trlcity led very many, WHO know
OF his refusal, to think that 1te would
reconsider his determination to-day. The
idea TINT he is unnblc to deposit ali the
noney called for was gencrn1ly secuted BY
tito solid men Of tho Board who wero asked
about 1t. They said le Is AZ good us the gold,
and ttose Of them WHO liave still open trades
will, hnl felt no alarin I'll regard TO It. Mt.
Dow. OIL being Interviewed by q reporter of
TIE Ts1nuNE. fatty refused to say whether
or not ho was financially clnbarr assed, but
dig aver u,at lie ia prepared to project
ali Ills trades except in pork, and
siaGs p Ill., article t. dSpGs sis, further 'a aansg ma.gns
ono closing out Ills deals in ,ori, Of .deciar.
ing them IL he closed, til the time named III
tlle contract las expired. liz clninls that
,i.p nle present prices ars fictitious. and that he
position.
In the course Of tho interview tho follow
INF @ @s2nyorsation occurred:
"of these reports on 'Ohnngo that yon hayy
at MEANS" said Slr. Dow, atllat i viii PIT
up 10 more margins Of, !h!s provision dcnl,
has my deals In my behalf shall buy them III
under protest."
.a.IL "ilsw 8, much is tho amount Of your deals In
s.That refuse to answer: I simply want
5cct. Any mnn has ii. right to exercise hts
own Judgment rs to what he will tl0, hui.
at ft +, y lerstooa that fo exercises 1t sue
tlepS! Il Ses' M;a'rs'ns@'
Mlluw much a barrcl"'
y could not state." ....
"1laYy ulargtns amounted only to 81 a
barrel?''
~ nm taking n square issue. ! refuse, to
put lli' my more margins OIL provision deals,
AND SO GIVE NOTICE
that, If people try to btty In uny tlcals they
layc with tne. they buy them under protest
from me-"
"What will be tho effect Of this announce
lueNt Tomorrow, Mr. Down
=" Shall you prosect MI your other contracts
except those OIL pr0visioilaYn
IT,. " ! lon,t M whether ! VIII or not. nm
simply talking Of PROVISIONS"
are !n!Ul!:ed for corn and also 0ats.h
:" don't cnru damn about Ii. You know
lwill DO tue right thing Hfw0ya"
+" You always llAve done no. but, In nsklng
dainE g to satisfy tie puGio desire Tor s il
furnlatlon.H
" llaiuli the public"
"Thc public viii NOT n!low the papers to
well, then. mn Long ", u00 August corn,
1O,00U September, 10,U00 October, l.il1 al,out
ting year. Then there Is l5ooo September"
refused to pay your margins on pork on tl.e
ground tllat they were based Oil, u fictitious
fxHiae but i tat y 'SyySs!5shng else you Gun
simply refuse to put up any .l,oro margins
on provision deals. and no man who l,as my
proyision inn.adst enis pf ME ca" buy them In with
pr @WIa} ;sa sy yops oM Sp!nion ' about this wloo
II k1loW about tho deal. MY Judgment Ia
TINT tile nlall who has perfect control Of tho
deal. afld y 70 rt,Sognsxtal = ~ the public, IL
til lie can get Ills margins up, n1tl then put
up NIL t!lci or twu higher, and keep 1t along
50 until margins, are up ngnin, and then
hoost + asa' , a ad "a tat t Il what his program
"liaye Reem and Singer dealings with
",rl'ero E Is NJ question n, about Singer"
~ don't know" ...-..
"You nrc short moro to Singer than TO
lsccn,,-about twice as much ~
Surprising Mt. Singer ls short 10 mo. Iln
lnay bt J. erettt dcal moro short to INC tharl
What l.i t, viii DO the effect on the deal to-
~ haven't tic slightest tdea, and don't
=. "Wspld e. it bo apt to rush pork up dollar
,"Yon think. It wout,ll You will find
plenty OF people long OIL park whom You
thtltk aru short, md Otllors short whoa yol,
Fl ',rss T sspts'abor of october i aoiE~aot ono
:".liow Is It wit. August pork?
,,st ~ Itn'S S nee.' o'g on August pork for tho
,"llow IL It about November md the year?
They went up uullnr harrel to-day. VIII
they nttynllcn any t1-nl0tr0wg'
"'fhcy Will 60 Up to So If tho boys vii!
Keep on putting up nanrgtns. AMI simply
TAKING ISSUE on THIS QUESTION.
Aa f1tsax t.iH.tt tfft,ft f,nr