The Lambertville record. [volume] (Lambertville, N.J.) 1872-1968, 1884-10-15
ARMOUR THE PORK KING.
The lucky Deal by Which he Col IIIs
Sfurt.

While streuuoasly insisting that he is not
now Spectator or gambler, Mr.. Armour
admits that he made his first great fortune
by speculation. Jlst before the close of
the war, when Armour was packer in
Milwaukee, and pork was selling at $40, he
dreamed one night that there would be
great tumble in prices On the way down
town the next morning he stopped at his
\ partners house and told him that he thought
pork was too high That's my opinion,
toe" said Mr.. Plankinton. After little
further conversation it was agreed that
Armour should take the first train for New
York and sell all he could. He went, sold
pork at $40, and never took it in until it
struck SlS, making over 81 900, 900 by the
operation. Bnt he had great difficulty in
carrying oat his plan. The New York
agents of Plankinton d Armour were Wal.
lace X Wieks, at that time one of the
heaviest firms in the trade. The big packers
all over the country We're bulls on provis-
ions, Cleveland, Cincinnati, Indianapolis,
and st. Louis packers being persistent buy
ers. Wallace & Wicks did business for all
endeayored by every means in their power
to dissuade Armour from selling pork, but
he steadfastly adhered to the object of his
visit, refused to go to their meetings, and
would have nothing to do with the pool.
For about three months Armour was the
terror of the provision market, and when
he got ready to go home prices had come
down SIS. Just as he was leaving Kingau,
prominent bull operator, said he wanted
to make just one more trade
III sell you 1000 barrels" said Ar.
mour
I'll take it." said the other. "When
pork sells at $50 barrel you will want ii
back"
"Pll deliver you that pork" replied Ar
mour, " when it sells at $18."
The packers, with few exceptions, were
ruined by the break and Armour became
the richest packer in the world. He admits
that the operation was nothing but huge
gamble. If the closing struggles of the
rebellion had been delayed q few months
longer he would have been ruined. AS it
was, he WAS favored by circumstances over
which he could have no possible control.
That was the only risk ever Took he
says.
In proof of his assertion that he is q leRiti
mate trader, Armour likes to point to his
office on Washington street. wherein are
employed l50 clerks and accountants, eighty
of whom are engaged exclusively in making
out bills. He has an agent in every I'M.
portant city in the world. Each morning
messages are telegraphed to his representa-.
tives all over the country giving the prices
and condition of the market here, and each
afternoon his agents telegraph back the
transactions of the day. Mr.. Armour him
self is an indefatigabe worker. He rises
every morning at s. breakfasts at G, and is
at his Office at Z. One clerk has preceded
him to open his cablegrams. The remainder
OF the force appear Mt s. Each morning
there is placed on his desk ticket like a
visiting card. II contains a statement of
the amount of cash in bank, which is seldom
less than 81 900, 900. The capital of Armour
Co. is nominally $1O,oO0,O 600, although
the firm is worth S25 ,000 900.
Mr. Armour is short thick-set man, with
smooth-shayed face and big head. He
is native of WATERFOWL, N. Y, and first
determined to move West when he was ex.
PEELED from school for taking girl out rid
ing in school hours