The Lambertville record. [volume] (Lambertville, N.J.) 1872-1968, 1886-12-15
RICH NEWS ruABsrs.


Phil ArmOur's Vast Deposits.
Big cash balances are often controlled by
people whom one would not expect to keep
great amount of ready money on hand.
| Around the Board of Trade it is the gossip
that one of the biggist balances is kept by a
young fellow who couple of years ago was
working in Armour's Office for $50 month.
lie saved enough to get membership and
began trading in the thousand-bushel lot
crowd. He took the selling side and soon
had enough to his credit to transfer his o p
erations to the big pit. F. Fl. Hill, called
Familiarity g Efie " in the pit, is now the
biggest scalper on the floor. He sells ,000,-
QUO bushels of wheat now rs nonchalantly
as he sold 1000 bushels when he began.
The gossip in the pit is that he has made
about 5000, 900 and that he keeps all Of it
in the bank ready to be drawn at moments
| notice. Leopold Bloom, on the other hand,
IS man who does not believe in big bal
ances. When he gets $1,000 together
anywhere, whether at the Corn Exchange
Bank or in the hands of broker or any,
body else, he gets the currency, buys prop
erty and puts it in his wife's name. Ten
thousand is sort of unit with him. Any
sum under that can lie undisturbed, but he
no sooner gets his hand on that sum, or any
multiple of it-$20, 600 $50, 600 or $40, 900
than he puts it safely away.
When old s. H. Thompson, the restaura-
teur, died $1S4, 900 in bills was found pack
ed away in his safety deposit vault at the
Illinois Trust and Safety Deposit Company's
building. Thompson could not write, and
1T has always been supposed that it was the
old gentlemans constituencies on this score
that caused him to keep great fortune like
this in greenbacks. He could write check
for 500 or 5000, or any even sum like
that; but when il came to writing out odd
sums he was at loss. If old Thompson
had invested his money he.would have left
probably 100000, instead of $i50,00o. s
Andrew Cummings, who was for SO many
years III his employ, and who was only
taken into partnership few years before
his death, is supposed to be worth $780,
600. Thompson's restaurant has always
had charm for ladies, and has always been
the headquarters for cold water advocates.
The old gentleman did at one time serve
English ale, but not regularly. He never
sold but one case of wine in all his career
as restaurant-keeper. The very day that
he put this wine on the bill Cummings. a
gambler came in and ordered a bottle. He
drank too much. got into wrangle with
the darkey serving him, whipped out his
gun and shot the waiter The wine came
right off Thompson's list the very next
day.
But to get back to the topic of big bal
ances again. Armour each morning has
little ticket put ON his desk which shows
the funds on deposit at Chicago, Kansas
City, New York and elsewhere. The writer
has seen these figures when the balances
exceeded 81 900, 600 Armour's cash bal
ances used to be larger than they are now.
he invested in st. Paul and become di-
rector there mainly because he had SO much
funds that he could NOT keep them well en-
carrying wheat Then there are the mil
lions he has in st. Paul and in his business.
Armour does not believe in keeping bal
ances unemployed. Hutchinson bought
and paid for 10000 shares of Northwestern
common about year ago and is now said
to own $1,000. He probably has nearly
81 900, 900 ready money all the time at his
disposal. Eggleston, one of the Board of
Trade grain carriers, could probably raise
great deal of cash in thirty minutes. Ed
Partridge must keep very large cash bal
ance. The amount kept ON deposit by
Marshall Field & Co. and j. V. Farwell &
Co. must be something like 81 100000 for
the former and $750,000 for the latter.
In the winter the packers need big balances.
The payroll of the big houses out there run
from $4,000 to 100000 per week, and
Armour pays for cattle fnd hogs about
$3.50, 900 per week in the buy season. just
think of the balances that business like
that requires