Evening star. [volume] (Washington, D.C.) 1854-1972, 1888-09-29
Fears for TO-day's DcvelOpmcnts-A
Failure I'm New YOrk-ssOld Hutch.s,

EearS TOT IO.08y'S DevelOpmcntS-A
Failure I'm New YOrk-''Old Hutch.''
The latest figure on wheat in Chicago yesterday
| afternoon was said to be $780, and $l.5O was
known to have been actually offered for Septem-
Der delivery. There were disquleting rumOrs Of
what the effect OF the corner on many commission
houses would be to-day, and altogether the situa-
ton was one OF intense excitement
One hundred thousand bushels OF wheat left st.
Louis by the special train Thursday night-in fact,
all that was available. 1t is claimed that the
grain was forwarded by St Louis shorts who were
caught In the squeeze.
BIG FAILURE IN NEW YORK.
In the New York wheat market yesterday there
was no excitement until the announcement was
made Of.the failure OF Williams, Black & Co. The
firm was founded In 1858 by the father of the
VIM. Black. The elder Williams retired In 1885,
turning his Interest over to mis- sons, T. w. WILL
1ams, Il. Z. Williams and F. s. Williams Paul
schwartz was afterward taken into partnership,
They carried on a general brokerage business and
were members OF the produce, cotton and coffee
exchanges The amount OF liabilities is not known
but 1t is said Will reach three millions A member
OF the firm says the house will settle in rull The
failure Is connected, 1t Is thought with the Chi.
cago wheat squeeze.
THE MAN WHO MADE THE CORNER
The man who in the last few days has forced
september wheat up to such fabulous figures is a
picturesque figure. He Is known the country
over as "Od Hutch" P. B. Hutchinson, who is
the monarch OF the wheat pit, has probably cleared
over 81 900 600 with profits yet to come and he
mas had the satisfaction OF seeing long lines OF
excited Spectators file up to him. and mas (iicI aIed
his own terms TO ali corners. His method OF trad
Ing Is as unique as the man is In his personal APP
pearance he Keeps up running fire or CONVEX.
saton with his brokers, something like the follow
Ing, as The anxious procession flies past: ION
wheat; Pun quite willing 10 hold il while Longer
Besides that, I'm talkin with this gentleman
bout religion He says the Unitarians got
knows that the Unitarlans are the only IelIers
that amt got creed-2O, OOO? Yes; Oh 81 so NOT
an eighth less. Well as was saying, the presby-
terans got creed, an the Baptisus am the ,PlscO
pallans, and even The Shakers got a creed,n
His religious disputant left here and "Hutchn
mighty well-read leller,n he said, referring to the
man who had gone. HES from Rhode Island
He's read all sorts OF books, but don't agree on
religion. Tom Paines good enough for me- What
did Paine say? He SAID: The world is nv coun
Try and to do good my religion That's what
faine SAID Yes, you smart leliers thought was
man1pulatin' the DOoloOth markets. Why Won
foos, was $4,000 short at Minneapolis aud 10000
short In DoOlo0,h. lgave ye rair warnin'; i SAID
you'll be payin' In luck II We get 1t Tor less IN 70
And 50 he continued, drifting into politics. love
ana an conceivable subjects, almost without
respects, In others he Is remarkably fine Grained
HIS nIteen-cent dinners, which ne cooks Tor him
sell ut the Century Club, show the depth OF Ihe
parsimOny IN which he occasionally indt,oes and
ne frequently noses along south Water street
seeking from the commission men their refuse
stock Vi vegetables anu fruit, ana yet he has law
isned upon his son, Chas. L Hutchinson, presi-
dent OF The Board OF Trade, money without stint.
ano rs saia 70 enjoy peculiar satisfaction in
ted men In the West; and, though the Old man
swears Ike trooper himself, the fact that his
pleasure Than TO clean up 500, 600 on deal
As rule, "Old Hutch" mas been satisfted IN
close up on an eighth margin, but this time he
some OF the scenes during Thursdays squeeze
Were iuoicrous IN the extreme, but many were
who had bought September from 81 cents 70 o.
cents, at eacn step telling people IL would be
o worth =, xo 1etOre long, sat in his customary
frenzy OF Others was nothing TO him. T1ronyh biS
foresight he had been enabled to gather In prac.
ticaiiy all the september wheat here and as in is
but three days until the first OF the monfn whan
all settlements on september contracts musf no
lnade, one SepIemper shorts must have the cereal
or go TO the wall. But Hutchinson was nor nm
ming corner. on, no! lie simply bought The
wheat and held II. september closed Thurs
When 1t began to climb Iunatics were NM. ~.
every minute. BY noon 1t was sL27. and one
5OOO-busaei lot was SOLD at $l.2s While the bulge
make terms: When the market was SI.IO a party.
%ne was sn 70 settle
asked the ODD gentleman. SIT was sliO when I
left the pit" was the reply swell 1t viii be N *
Ryder one Of his brokers' Mas s6 bddn later
long afterward Eggiestone and Bliss were Offering
81 lS and the former gradually "llted" the price
To $1.27. II rested cents lower, At which prics
clutch" sold TO all who wanted IT, paw
The scene was most unusual one. Men with
tears In their eyes rushed 70 the wheat monarch
and begged for mercy. The Old man was calm
and undisturbed, apparently taking no Interest in
tne market When The price ran 10 Sl.27 he beck
oned 10 one OF his brokers, "JOhnny" Brine and
said: "Sell them what they want az Si2S"
shorts who simply had small amount ike 5000
10000 ana rs 900 bushe lots, got In line like pur
chaSerS OF tckeLs at o theater box-Office and in
less than twenty minutes Brine, who sat on the
lelt OF the smiling old gentleman, had settled over
busneia S'~S~
why should they pay SL25 for wheatf" asked
Hotch" "Mtllers VIII pay that for wheat 10
grind, and can't AFFORD to sell It for lessn