News and citizen. [volume] (Morrisville, Vt. ;) 1881-current, 1884-07-17
THE NEW CHICAGO SPECTATOR.
The Young Butcher Who Has Made His
Fortune in Pork and Wheat.

A striking feature of Chicago specu-
lation is the suddenness with which men
make and lose fortunes, and the KIND OF
men who do it. The leaders of the mar
ket now are Norman B. Ream and
chap named "Jack" Cudahy. The
former was clerk but two or three
years ago and now has a fortune esti
mated away up in the millions. His
operations alone are making half dozen
houses rich. He buys and sells wheat
by the half million, and often carries
over night "jag" of 5000, 900 bushels.
But Cudahylis the odd fish of the street.
He is even a heavier operator than
Ream, and is thought to be worth more
money. About eighteen months ago
'Jack' was a working butcher up
in Milwaukee. About that time he
came to Chicago, and with another
butcher opened little shop near the
stock yards. They dealt to some extent,
too, in live hogs, but probably the cash
capital of the twain was not more than
81, 900. 1t fell to the lot of Jacks part
ner to come up to the city nearly every
day, and he soon got to dabbling, in q
| curb-stone way, in pork and lard. He
was invariably unlucky, dropping $50,
500 and $500 in style that made the
young Milwaukee butcher furious. He
swore he would dissolve partnership,
but when they came to figure up ac-
counts it was found that dissolution
meant the death of both. "Jack"
thought while over the matter. Then
he said, ''Jim, you stay in the shop for
while, and III do the specializing my
SELF" 1t is but a trife more than wear
since humble Jack Cudahy left the
butcher shop to do the specializing, and
to-day he is regarded as the leading
spirit of the market. He seems to have
grasped the science of speculation by
very intuition. His luck is marvellous,
his daring is unprecedented in the street,
and his success has been phenom-
email. He is worth a good deal more
than a million in real estate, and is said
to carry bank account of as much more.
He and Armour are now engineering the
pork market, and practically own all the
pork in the West. His deals in wheat
and corn have been very heavy and
keeps from five to seven houses busy
with his accounts alone. "Jack" Cud-
ahy is a genial, rollicking Irishman, just
turned thirty-one. He is the plain look
ing chap that he was when he chopped
meat in Milwaukee eighteen months ago.
Success has not spoiled him nor his
suddenly acquired fortune turned his
head. The only difference observable is
that where his associates used to be boys
of the cleaver and ''pig stickers'' of the
stock yards, they are now bank presi-
dents and pork packers of the million
aire variety and capitalists of the Board.
Jack, it is to be regretted, is rather I'M
lettered, but that he says will improve
in time, and laughingly adds that he
has got as far as knowing how to sign
his name to check. One of bis great
traits developed since his fortune came
is generosity. In fact Jack is blooming
out as a sort of philanthropist. He is
exceptionally liberal to the Catholic
Church, of which he is an ardent adj
herent. He gives huge checks to the
orphan asylums, to all the Catholic in
situations, to the clergy, and no Sister
ever left Jack Cudahy's presence with
out rich bounty from his purse. When
Bishop Riordan left here for San Fran
cisco, Jack chartered a special train to
take him to Omaha, and from there on
he had private car-all at Cud-
ahy's expense. And if the good Bishop
needed fat check for any pious pur-
pose we may rest assured he got it. An
humble fellow Jack Cudahy is, but he
has become mighty power in the Chi
cago grain market. That is the history
of a young man forced into sudden
wealth by pure luck and the possibilities
of gambling in the cereals. San Fran
cisco Alta Californian.