Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1888-11-07
Reniamin y. E1ntcl,;nson.

SOiuoi IL WuooV iS oho vi eoo Vuaiu'SS', - o6
gedest, most successful, aud richest operators
on the Chicago Board Of Trade be is
worth round S10,OOO,OOO His name is
Benjamin P, Eutchuson, bu. \ body thinks
of calling him anything but Old Hutch.
He has rather youthful look and spright-
ly step, although he is over 60 He Is &l',
broad shouldered, and st,wa,t end uimcsr
shabby in dress.
He is dspocratic in his maine nn will
stop in the street 10 talk with :he shsbbiest
spectator on the open Board. IN he sum
mer be wears an old brown straw bst. This
be exchanges when the frost comes l.r u big
sombrero, rusty and dusty. Sometimes be
refuses to take his hal off in places whore
the usages Of society call Tor barred heads,
and it is even alleged lhat he usually rsas
his big hat fer night cap.
His son. Charles Hutchinson, is still
young man. He is worth IL million, aud is
president of the Board of Trade and al the
head of the rich Cotton Exchange Bank.
He is also patron OF Art, and is president
OF the Chicago Art Institute. But the old
man doesn't believe in ART HeeVen swears
at art IS he oweRis at anything elae. lie
was O much disgusted man when he heard
that Charley had paid 81 200 for a picture of
three or four sheep by Rosa Bonbeur.
Like many successful business 10 men OF Chi.
cago, Hutchinson came from New England.
After leaving his bench in Lynn Mass, he
started dry goods store, but was caught in
the panic of 1867 and knocked out with $780,
900 liabilities end small assets He came
Immediately to Chicago and began speculat-
ing OH the Board. In two years he paid Oft
his debt down East, and at Tie beginning of
the war WAS free from sl embarrassment.
Ever since he has been growing richer and
richer.
He has not toen a bo!d epecuator. He
has avoided big deals and corners, and has
made it point to show profit at the end
of each day. He is scalper, and no one
knows better the value of one eighth of
per cent. multiplied by millions of bushels,
quickly turned and on the right side OF the
ledger.
He likes to jump 10 quick and out at the
first opportunity showing profit. He hates
loss worse Than s poor man does, with all
his stake, and has been known to load up
with million bushels of wheat and then
close out On decline off. He dabbles in
real estate on the same plan. He will buy
6 tract of land for 100000 and sell it the
next day for S101, 900 if he can get it, He
made so much out of the put and call busi.
ness that the other fellows had to stop that
business. Fora violation of the rule the old
man was suspended from the Board Tor
ninety days.
Mr.. Hutchinson is very sscretive. Il is
said that once ne voluntarily sent $4,000 to
o friend who waa in trouble out of pure
gratitude. The man told about it. This go
angered the old man that he has not spoken
to him since.
Mr.. Hutchinson lives in the Century Club
In the four-story brown mansion just across
from the Board of Trade. AS he takes most
of his meals there, be recognizes the value
of economy in every department, and, oon-
stituting himself as commissary.genera, he
hangs o market basket on his arm and
stalks among the commission merchants of
South Water street. From them he aaks
and gets bottom figures, for be will stand
DO trihiug. When huckster tries to get
another nickel for his potatoes the old mans
face changes to an apopletic hue and be de-
nounceB the ''robber" on the spot.
This Century Club. By the way, is like
Mr.. BIape's trusta-largely private affair.
The few members on its rolls are choice
spirits who are willing to join 10 friendly
game of whist or poker with Mr.. Hutchin'
son. Mr.. Hutchinson's drink is whisky.
This story is told of him: The Chicago Car
pet Company occupies the northeast corner
of Monroe street and Washington avenue.
Mr.. Hutchinson has large interest in the
firm, and, as he likes to inspect his proper
ty ia his own way and at his own time, he
has key to the store. The show window
is very elaborate affair.
The softest and richest rugs are thrown
upon q hard wood floor; handsome drspe.
ries form tasteful background, and couch
fit for q queen finishes the picture. One
night, SO the story goes, Old Hutch "bad
sg on es they say in the untutored West,
and he concluded to go to the store. He
looked through the stock to his satisfaction,
and then was about to leave when his eye
caught the great window. He was tired,
and in an instant after, as he threw himself
on the couch, he was fast asleep, and there
be was, hat and all, when he was discovered
early in the morning.
The wheat deal in which OLD Hutch has
been engaged is in many respects his most
important operation. 1t presents him in q
new light, aud glimpse of new phase of
his many, sided characteristics lie given. He
is not seen this time as scalper, working
for quick and narrow margins. He has been
master of the situation throughout, and be
knew it,
Most of Mr.. Hutchinson's money Is in the
shape of quick assets, aud when he has
bought large line of stocks be has aimaye
paid for it in each. He has never been q
man to attract loyal aud steadfast follow
ing. being almost too volatile. While lack
ing in tenacity of purpose. he has more than
made up for it in quickness OF perception
aud accuracy of judgment. He has, OF
course, INST with losses, but they have been
few and small in comparison with his sue
ceases.- Pittsburgh Dispatch.
k-ru-, ,f EinS