Savannah morning news. [volume] (Savannah) 1868-1887, 1886-06-14
A NEW SPECULATIVE LIGHT.
The Leader of the Recent Wheat
Turn in Chicago.

NEW DIRK, June l2.-One of the larg-
est wheat speculatons that has been seen
for some time is now attracting interested
attention. The leader of 1t is John Gu
daily, of Chicago. He is about 40 years
of age and is worth two or three million
dollars. He holds in all, it is understood,
about 100000 bushels of wheat in New
ork and Chicago. Three years ago he
carried on a campaign on the short side
of tue wheat market, and at the same
time became a bull ON corn. He was
emnently successful in both speculatiOns,
and this fact brought him into prominence.
He avoids rather than seeks nOtOrietY,
and therefore the general public
knows comparatively little about
him. His legitimate business is that
OF pork packer, ana he has one
of the best packing houses IN Chicago. He
never has occasion TO borrow money to
carry on his packing business. He not
only speculatee in grain both in New York
and Chicago, but also In stocks. In Wall
street he Is quick, lmpulsiVe trader, and
at times operates on large scale, but he
is not what is known as q ''stayer"; he
jumps as quick as Addison Cammack, or
even quicker than that leader; he inva-
rlably speculates in stocks for short turns.
Like most Western men, when he trades
in stocks 1t is almost always in those
known as the Changers; about the only
Eastern stock that Western men will
touch is Western Union, and that only
When it Is active.
Mr.. Cudahy is feet inches in height,
of powerful, rather wiry build, has black
moustache, and keen black eyes. His
features are handsome, his manners are
popular. He loves Joke and is largely
endowed withEready wit; he is quick at
repartee. he dresses fashiOnably but not
showilY. He has "A fair education. He is
one Of the keenest specuatOrs in this
country. and also one of the boldest. He
is the dashing Murat of the Chicago Board
Of Trade. He Is born leader Of men. In
an earlier civilization, when war was the
business OF large bodies OF men, he would
inevitably have come to the front, sword
in hand, on caparlsOned charger, TO lead
men to feats OF arms on trying fields
OF battle, but in this age,
when the mass Of the civilized
populations are engaged in business, aud
men, sstill instinct with combativeness.
6ghJ one another on fields OF speculation,
J0pn, or as he is more familarly known.
Jack" CUdaby finds himself a CONNER
clal chieftain with a large following. In
another age be would have led them in
battles for empty honor. Now the object
is TO spoil the Egyptians, TO secure their
gold. He is cool, daring, andinspires un-
bounded confidence in those who enIst in
his corps for the speculative war. He is
always loyal to his friends. He is mod
ern specua atOr with a knightly sense OF
honor.
He speculates in large ''blocks." II be
thinks f&Yorably OF a given side Of the
market il is no uncommon thing for him
to say to his broker ''seIl $50 wheat or
"buy 250," meaning $780, ,0G0 bushels each
time, while occasionally be will give an
order to sell or buy 500 600 bushels at a
time. Speaking0f him IN DelmonicO's the
other day, wellJpfOrmed operator said
&c laahy is the smartest of them all.
and before they get through with this deal
he will nave all the money in the pot"
Then it will be millions. He may yet
meet his waterloo; he may yet find HIM
self struggling IN hopeless qUicksands of
speculation, but was never on tirmer
ground than now.
He is now building a beautiful home on
Michigan avenue, ia Chicago, which i'll
probably cost him, friend SAYS, about
$3.50, 600. He is married and has several
children. He is a member Of the Chicago,
Calumet and w ashingtOn Park Clubs OF
the great Lake City. He is OF Irish pa.
rentage, but has more the appearance of
a German than CeIt.
The present bull speculation in wheat
is largely directed against foreign houses
that have been perslstently selling the
market short for some time past. They
have needlessly sought To depress the
value OF American property. A promi-
nent member Of the Produce Exchange
said not long ago:
81 believe these foreigners have taken
out OF that wheat pit within the last three
years nearly 500 000, ,000."
These houses are now understood TO be
abort from TX l00 0O0 IL,
aud the bull clique, or Big Four, as il is
called, composed OF John Cudaby, Philip
ID. Armour, "Nat Jones and Norman b.
Ream, are altogether holders, IL is further
understood, OF about the same quantity
partly here and partly in Chicago. The
bull movement had been decided upon
about the time OF Baron WoerishotTers
death. That cool, fearless operator had
fought the hears almost single handed for
two years, and when he dropped dead one
Sunday afternoon some weeks ago in
Editor OttendOrler's mansion at old Car
mansville, the bulls We're apparently left
without any leader OF prominence
or course no one could act for
him except within very clrcum.
scTibed limits, and Cudahy for a time
depressed the market, Armour, Jones and
Ream not interfering. The bull cam
paign opened a short Time ago 10 earnest,
and it is noticeable that the foreigners
are not quite so ready TO sell short az for
merly. The sentiment among business
men cORnizant Of the facts OF the case de-
cidedly favOrs the bulls. Among those
here who are acting with the Big -Four
are Charles Rouse, who mas five or six
years OF unbrOken success behind him :
Charles COtirell, small, black-eyed, IN
general appearance somewhat suggesting
Jay Gould; William Ii. Wallace, blue
eyed, handsome and plucky; Thomas
Carruthers, shrewd and cautious, and
Henry Allen, the Count D'Orsay Of the
Produce Exchange.
OSCAR WILLOUGHBY RIGGS.