The Aberdeen examiner. [volume] (Aberdeen, Miss.) 1866-current, 1884-10-02
A PORK KING.

A middle sized man with shoulders
solid and broad enough to belong 20
a shoulder hitter, was making his way
across Washington street.
''1he most talked-of man in the
West" said man at my elbow.
"Who is he?"
"Phil Armour" was the reply. The
pork kings figure is worth looking at.
One marvels in the first place where
in the world The great operator got
such muscular frame. A large square
head sits we'll upon the shoulders.
The face is pleasant, broad, firm look
ing and clean shaven, except for small
side-whiskers under the temples.
While he was getting across the street |,
from a restaurant to his office half
dozen people recognized him and
spoke to him.
Armour is a great figure in produce
speculation at all times, but he has
just closed big pork corner, and that
fact filled peoples mouths with his
name of late.
The price of pork, which has been
in the vicinity of $50 for month or
more, dropped the other day 50 a
barrel. 1t was a sensational decline.
The little coterie of rich fellows who
gamble in hog products went home
one night leaving the quotation on
August pork at S2S. The next morn
ing after they had stood around their
pits for awhile, 200 barrel lot was
offered, and singularly enough, nos
body wanted it. The whole crowd
with one accord turned their eyes to-
ward Phil Armour's men. They were
the least concerned of all. They did
not want any pork. That 2o0 barrel
lot was offered first at one figure, and
lhen at another, until it was offered at
$50. Then somebody took it. The
difference between the sum that this
little quantity of products actually
brought, and what it might have been
sold for the night it was $1,000.
Everybody understood the siguiti
canoe of this transaction. Armour's
pork corner, in existence since last
May, was over. The big packer had
pocketed his profits and retired from
the market The provision pits
breathed easier.
1t was a remarkable transaction
this last great deal Armour, the clev-
crest and most profitable, say the pro-
vision crowd, since the gigantic one
of 1779, which involved the pork Of
the globe ard netted profit OF
, S3,500,000.
"Suppose," said bank president
to me the other day, "that while the
panic at New York was at its heigth
and the raid on the railroad stocks in
Wall street was sweeping away for
tunes, "a raid had also been successful
ly made upon the holders of produce.
in the West" The bank official put
the question with iervor that made
plain his horror of the mere thought
A raid was actually made, fierce
raid and a great raid, but not sue
cessful raid. Armour met them and
, took them into camp. This drop in
pork the other day was only the no.
tce of their relief.
The recent panic in New York was
signal for selling movement which
was not unlike a frenzy. Bear traders
everywhere could not sell fast enough
Especially in New York were the be-
levers in total financial collapse
disappointed at their inability to sci
stocks in anything like the quantity
or at the prices they wanted. They
turned their attention to other mar
}, kets which they believed were certain
+ to collapse, but, which had not theI
started. They sold petroleum at Oi
f City, but especially did they sell porI
at Chicago. 1t kept pretty steady
e. But the bank panic at New York the,
thought was destined to spread tt
S Chicago, and was certain to, If the,
I could smash prices. The Wall stree
wreckers, led by that biggest of al
5 bears, Charles WoerisholIer, poured
= their orders on this market in vol
ume great enough, they thought, t
o oyerwhelm it. There were eXcitin!
z scenes for some weeks, Pork di
o break from $40 to Sl6,and tor Will
i the signs were that the terrors of Ne'
York were to be gone through wit
', here. But the selling did not avai
= Lots, of whatever size offered, wer
y taken. Nat Jones the big local sellt
\ and Woerishotfers representative,sOl
for his own account, and for the az
70 count Of his Wall street principal
n not less than 100000 worth of ho
N product. Somebody took 1t, and u'
only put up the margins, but held I'll
a market, and was ready to take NOR
If The selling waXed furious for a for
night, and then it was suspected thi
rs Armour was "protecting his prope
ID ty." He had $l2,000,000 Of his stu
" in his cellars and cold not afford
let the market go to pieces. II
Sc wreck at New York went on,the pan
es was on the increase. There were son
o. who put Armour in the category wi
Seney, Garrison and Jim Keen; wi
at boasted that the time his good Gortul
was going to leave him, and the
kept up their attacks. 1t lasted ol
month perhaps. That was in May.
es June it was not over, there was no po
tu ! for sale. The price began TO creep Il