The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-10-01
ARMOUR's SQUEEZE.

Belief that a Squeeze in Pork and Ribs
for October is on Hand.
CHICAGO Sept. 29.-It is very certain that Ar
mour is engineering a squeeze In pork and ribs
for October. In the first place. he has been buy
ing for this month day after day, until the ex-
PLANTATION that he was covering shorts" fails to
fit the case at all. 1t is not within the prOba-
biities that Armour would walt to fill his
"shOrts" right up to the month of delivery. He
has been buying long stuff, and buying it in
vast quantities. too. His men are believed to
have bought 4O, 900 barrels of pork for October
yesterday alone, and Favorlte, his chief man in
charge, filled up card after card with pork for
the same month. To-day ribs were bought, too.
While this months options were bought, the
more distant options were sold-January and
year pork.
There are other signs pointing to a great
squeeze by the "honest butcher" Armouris or
dering pork at all the other houses which it
turns out belongs to him. and is carted over to
his own houses. Five thousand barrels were
taken out of the houses OF Virgins & Gilbert
yesterday and put in the Armour warehouse The
pork in the Murphy Packing Company was
wheeled over to the same place to-day. The de-
iveries on Monday of pork and ribs apparently
will be small, for the inspector reports, ana SO
do the packers, that very little stuff has been in
spected for regular delivery.
Everybody believes here that Armour is in Oc-
tOher, and will give pork such a squeeze that the
shorts will be compelled to pay a premium over
January; that those who have sold what they
have not got will be compelled to pay a penalty
of dollar, perhaps Two dollars. per barrel for
their tenerity. Every body, however, regards
the squeeze as simply on the month of October.
To-day Armours men sold the distant options,
before they began buying, selling, too, little
for October Toward the close of the day how
ever, when prices had been depressed l00l5c,
the same who had been working to depress
the market began actively TO buy for October.
nd rfh QaIn a
Armour's deal. He knows better how ma
nipulatc them than anybody in the trade. Lard
he never touches except that he loses money
and confesses. In this October deal, which be-
lieve will be apparent to everybody within a
week, he will 6e thoroughly at home. It will
not be opposed by the local trade, either All the
packers Will be glad to see a reaction. They
tired of a depression of property. The Liver
pool people who own the lard here will he glad,
700, ana If they get little advance will sell
out Perhaps Fowler. or some Que with more
nerve than they, will take it. AT any rate, there
is to be BONN IN October. IL is said that thrre
are about $4,000 barrels OF pork and &c, 600 600
pounds of rlbs in store here now.'
1t is believed that good deal of the cash
wheat will he delivered out on Monday. 1t is
known that George @. Walker e. Co., who own
several million bushels, will deliver very large
share Of it They were large sellers of October
to-day. The effect of these deliveries upon the
market is anxioasly discussed. IL is not I'M
likely that they will temporarily depress prices;
that is the effect they usually have, and that is
the effect they will be likely 10 have Mon
day unless the expected advance in provisions
offsets the bearish influence of the appearance
of SO much cash wheat moving about. The
Wheat market was strong to-day, the different
options showing advances IF l9c over last night;
and all closing at the highest prizes of the day
October AT 954c, November at CSC, and Decem-
Der at ST. OIL d. Corn, on the other hand, WAS
weak and closed l6D l4c under last nights fig
ures; September at 40 l2a. October at 493se No
vember at 49c. The fluctuations, however, on
this latter grain were within an exceedingly
narrow range, less even than Asc, during the
whole day.