The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-07-02
PHILIP ARMOUR
The Great Packer Returns and Tells How
Strong His Firm Is.

OhlcagO special.
'Tm back from my trip" said Armour
to-day. I've ridden a good many thousand
miles in the week that I've been away, but
we took things leisurely, all the same. The
whole party came back together"
People have been talking about you
since you've been away"
II hear they have. Some of them at New
York and elsewhere, / understand, had me
'bursted.' killed and packed away in my
cellars $3.50, 600 worth of meats to-day,
$4,000 worth yesterday, and as much the
day before. There's not been a day for
months when at least that amount Of meats
has not been stored away. 1t takes from
sixty to ninety days of preparation before
that meat is ready for sale. Figure on it.
All That stuff is paid for the day the cattle
and hogs are driven into my yards. All
through last winters packing up to May |
borrowed not cent from anybody; paid
for my cattle and hogs out of my own capital.
We did our own banking. I've got $12, 000,-
900 capital in this business, not including
real estate, packing-house or any other such
truck. Armour q Co. have a cash capital of
$12000000 in money, and are worth $50, 0O0,-
OO0 They can pay ten dollars for every
dollar they owe. If anybody has any
claim against us, it makes no matter
whether it is due or not, and feels uneasy
over it, let him bring it i'll. FL pay it.
We got III tnlS local ONCE, COnLlnu eq
the packer, lone hundred and seven clerks.
Seventy of them are employed in making out
bills Those bills are for all kinds of pro-
duct, ranging from minute to considerable
sums. There seems to be an IMPRESSION in
some quarters that L m a Spectator, or, a
sort of gambler. The impression is not cor
rect. My business is the preparation and dis
tribution of meats, and Pm prouder of the
machinery of that business than of any spec
ulation 1 ever INDUCED in. People say that
l have run deals / never was connected
| with one that l was not driven into by my
surroundings or for protection. say this:
| never WIS connected with any deal in my
| life that was not success Blu no money or
| other consideration would induce me to en-
ter into another never yet ran deal that
did not feel ashamed of myself when [ got
through; and before Mr.. McGeoch and Mr..
| Mitchell urged me to undertake the manage
ment of that lard corner, would mot think
| of it.
armour & Co. were never as strong as
they are to-day They never had so m 'ch
money on hand, never owed SO little COM
pared to what they had to pay with l run
| my business on such a basis that it would
| make no difference whether l died tonight
or lived; Pm fifty years old. It's summer
now, but at our houses we are killing a
| thousand cattle day and three or four
| thousand hogs. | expect to do that much
business every day of my life, and to have it
go on when Pm dead. l never was so free
from entangling alliance as to-day. The
| Milwaukee house does not owe penny,
neither does tine house at Kansas City,"
| people think" continued the packer,
''that I'm carrying a big load. l own the
provisions here, and am making carrying
charges, and liberal ones, too. It's the very
| best Investment could make"
Have you any idea, Mr.. Armour, who
| started the rumors?'
81 don't care who started them; the rumors
did not injure us. They did injure the peo-
pie who do business with us. The only per-
sons affected are the poor devils trading here,
who are forced to suspend by such stories
started by the wreckers. There are people
here who don't hesitate to lie to ruin people;
to do anything mean and contemplate to
make little money on the markets. I'm not
| the one affected by such wreckers. l would
a little rather that people would predict my
| failure when I'm on the spot. l don't like to
| have it imputed to me that | leave sinking
ship or go away when there was likely to be
| trouble. promise to be here right at 2 and
| when Armour & Co. are in any trouble
When Pm out of town, let everybody who
| cares be very sure that my firm is having very
easy sailingn