Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1888-10-01
Meeked Their Master
Close of the Big Wheat Deal
in Chicago.
HUTCHINSON RULES TO TIE END.

The Price Forced Up to Sc and Yet No
Faiiures-yery Few of the Shorts Buy,
Preferring to Settle After Another
Fashion-A Wild Scene of Wrath Near
the Ciose-The Boss of the Deal De-
rided with Great vigor.
CHICAGO, Oct las was expected Sep
tender wheat reached $500 Saturday and
the position of "Old Hutch" as boss of the
market was emphasized by that fact, for he
began early in the morning telling "the
boys" that he had IA little cheat" to sell at
that price There were exciting scenes on
change Every one was wild and curses
mingled with yells Of those who were on the
right side of the market. Wheat at 81 a
bushel was enough to excite the calmest
broker and the excitement was communi-
Gated To the immense throng of strangers
which filled the gallery to repletion and
surged about on the main floor No one
knew in the early part OF the day what
would come at the end. No such furore was
expected But sold Hutch had said 81, and
g. il had to be He might as well have said
s.. 1t was within his power, and he could
upb uuNt bttl NuI stu Jttftu ut any
more.
When the Harper deal collapsed men were
panic-stricken. No one knew where he
stood and failures were frequent "Old
Hutch has not called for margins and the
closing trading days of the month passed by
and not failure was announced Those
who had not the ready money to settle on a
basis of 81 p or 81 80 and held back and saw
the price steadily advance under the old
mans manipulation to 81 per bushel an
nounce that they will not pay until the en-
tire deal is settled by litigation. Even those
who are badly caught are not absolutely
known, but il is estimated that fully 1000.
OOO bushels short were not covered and that
the strongest backing possible will be given
to the fight against the Old man.
1t is a fruitful topic of discussion in board
of trade circles as to what steps will be
taken with regard to the September shorts,
who refused to buy wheat of Mr. Hutchin.
son at s. per bushel and defauted on tn cir
contracts. 1t is assumed that the great
manipulation will follow them up in the
courts and compel settlement on terms
more or less advantageous to himself
Though the excitement was great during
the morning it was not until I2:30 O'Clock
that the enraged bears began to show their
| teeth openly From that time on pande-
monium reigned. During the morning "Old
| Hutch had sat in his big chair near the foot
| of the gallery stars and smiled and quoted
| poetry. He was verv happy old man, for
| he knew that his corner was going TO be car.
| ried through He did not allow his exulta
| ton to show itself, but sat wrapped up in his
| big overcost entirely unconcerned. A little
! after noon he saw the excitement growing
| The growing was becoming more distinct Il
| was getting near the clos, and every one
was looking at the old man. Men who had
| known "Old Hutch" for years looked at him
as though he was a wild man from Borneo.
| They wished that they had been little more
| courteous in days gone by and had not voted
| for his suspension from the board.
A few moments before the gong sounded
| there was excitement among the cash crowd
| Weare was in the crowd shouting himself
hoarse in trying to bolster up ~Od Butch's'
| 81 wheat. Leopold Bloom was there and h
was feeling very sore He called out in &
| loud voice that every dollar made in tbs
corner was nothing more than stolen.
| Weare made remark on Blooms nationality
and said that in that event every dollar yor
have in your pocket is the result Of thiev
| ing" 1t looked as if there was going to b.
| trouble, but Weare turned about and made
his offer to take any part of lO,O0O0H
bushels al s. bushel, and then the gon.
sounded
1t was only little while before this that
| demonstration was made against ~Olt
| Hutch" The disgruntled bears were JOINED
| by men who had sold short, but who haC
covered on previous days, and by men VIII,
believed that the old man was Carryin!
things with too high a hand All entered
into a demonstration against "0d Hutch II
which they tried TO show their soreness
A long line was formed and as eacn mar
passed by some word of reviling was thrown
at the wheat king. They guyei him. They
tauntei him. They asked him il be remem
bered when he called Phil Armour an @olC
hog" prefacing his application with profan
language. They called him robber and
thief They used every dsgraceful tern
they could think Of They tried to make The
old man feel that he was hated and iespised
At the first onslaught sold Hutch" tried Il
take things in good humor He fired bec
the shots that We're sent him. He Gale
them boys. fools, Internal idiots for sellin
short millions of bushels of whea
when the crops all over the coun
try were failure. But tn
epithets began to get too strong. The oil
man began to get mad. He threw II
his hands in a rage. He shook his fist at til
men in line. He stormed and cursed a
them. He rushed from his place before til
line had half passed by. He tried to max
his wav over to the cash crowd Hundrej
logged his footsteps curSing him and keepin
up the TRADE of abusive names. Some {
them would have struck him If they ha
dared. "Old Hutch" was the most uupopv
lar man on the board of trade
He grew more and more angry, snd at la
he broke from his pursuers and rushed dow
, stairs. He tore through the corridors, swim,
, ing his arms and cursing at the top of h
i voice. His face was red, he stamped on til
{ floors and foamed at the mouth. &c
) Hutch was mad
A reporter tried TO find out what the pri,
of wheat was going to be, and this is I'll
{ is the answer he got from Mr. Hutchinson:
| "Have you heard of my last purchase? n,
Well, I've bought an old history Of Il
8 Hutchinson who was governor of the colon
: of Massachusetts during the revolution. 1t
s valuable think my next purchase will
!: Ruskin's works, Those English authors a
+ frst-claSs.p
- "Rut the wheat
= ave don't have any men like them ov
= here We have no Shakespeare or Bacon
no Sir Walter Scots or Joshua Reynolds
So believe we've had some Longfelows al
- Whittiers, but they were not of native stock
!, "But what has that to do with the price
n wheat, Mr.. Hutchinson
S He hesitated moment and then said:
J, "Now, I'll tell you Talmage is the grea
), est man we have since Beecher died
y 1t was of no use: he had said all that he j
;; tended to say about wheat.
The Shortage in Dakota.
MINNEAPOLIS, MINI, Oct Nv. 7. She
?. idan, territorial statistician of Dakot
y estimates the wheat crop at SO 900 o