The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1891-05-06
OLD HUTCH IS MISSING.
The King of the Wheat Pit
Disappears.
Almost a Panic on the
Board of Trade.
He Has Been Losing Heavily OF
Late.
Which Has Probably Affected
His Mind.
Recognized at Evansville, Whence He
Goes to Terre Haute.
He Has Been Losing Heavily OF
Late.
Which Has Probably Affected
His Mind.
Recognized at Evansville, Whence He
Goes to Terre Haute.

CHICAGO, April 29.-B. L. hutchinson,
the multi-millionaire grain speculator,
known nearly the world over as "Old
Hutch" is mysteriously missing. 1t is
supposed that he is demented and his
business financial wreck.
Mr.. Hutchinson, whose tall, aged, yet
erect figure has for years been one of the
most picturesque sights on the Chicago
board of trade, left the city about mid
night last night, taking with him a small
sachel and a ticket to Pensacola, Fla
None OF his friends or relatives appear to
have known that he was going. The vet
eran operator, however, never was much
of man for confidants.
How he occupied his last hours in Chi
cago has not been discovered except that
he paid lengthy visits to two Of his favor
lite drinking resorts, and at each place told
the bartender in leaving not to expect to
see him again.
1t has been a matter of common rumor
on the board that business misfortunes
had unbalanced "Old Hutch's" mind.
His always eccentric conduct seemed in
creasingly erratic. For weeks at a time
his abode day and night has been his lit
some time ago il is said his sons, in view
of their fathers reported heavy losses
following recent trades, began to consider
the appointment of a conservator to take
charge of his affairs, the old man was
furiously angry. More than ever he iso-
lated himself and on the board appeared
to speculate for revenge rather than gain.
The dislike which he was said to entertain
for certain members of the board seemed
70 settle into systematic hatred.
No one but cold Hutch" himself knew,
or for that matter vet knows, the exact
condition of his finances. 1t was practi-
cally certain, according to all indications,
that he had lost of late heavily and
steadily.
This morning when the news of his
queer departure became noised about
almost the first question was How much
did he leaye?" 1t was answered by the
announcement of his relatives that the
missing mans outstanding trades of 8, OOO-
600 bushels could be settled up without
loss to any one. Whether any portion of
the spectators fortune remained they
did not say.
The moment it was definitely known
that Mr.. Hutchinson had really disap-
peared the operators who had deals with
him began calling his representatives for
margins. Shortly aiterward W. i. Hutchs
inson, the youngest son OF the missing
Spectator. formerly announced the fact
that his father was missing and that
neither his family or business associates
knew the old gentleman's whereabouts.
This was coupled with the information
that as result the house could not put
up any margins. For time the announce
ment caused the widest excitement on
the floor, and the market sharply declined
It was stated that cold Hutch" was in
solvent and that his liabilities would be
100000 in excess OF his assets. On the
other hand w. l. Hutchinson while say
ing 81 think fathers mind is unbalanced
and that he has wandered away" added:
81 do not believe he is insolvent. When
we can find how his affairs stand 1 am
confident everything will be paid in full,
dollar for dollar"
According TO the information Il at
could be gathered from all sources to-
night the missing Spectator is long on
July and short on May wheat in large
quantities. He is also 'long" on a large
line of July and May corn. These trades.
1t is said, are being carried by Baldwin &
Farnum, Elmendorf & Waite, George q.
Parker, Rosebaum Bros and Russell &
Barrett, all of whom, it is claimed, will
lose heavily should it prove that Mr..
hutchinson lnSOlNent.
Almost every broker in Chicago has an,
individual theory to account for the disap-
pearance. Not the least plausible is one
that cold Hutch" has simply gone on his
lOng-talked-of vacation, and will pretend
the greatest surprise and resentment when
he hears that a sensation had been made
Of his going away. 1t is asserted that he
has taken but one vacation before in
twenty years.
In an interview tonight II. ID. Russell OF
Russell q Barrett, said: 81 estimate Mr..
Hutchinson's losses during the past four
teen months at not less than S2,000, 600.
The largest amount lost by him in one
deal was $3.50, 900, when he acted as the
Chicago broker for Sawyer & Wallace in
their attemp ut to corner pork. Since then
his losses have been very heavy, although
current reports are, in my opinion, grossly
exaggerated. We place his present obliga-
tons at S350,O00, and his available assets
at S25O,OOO, representing tota shortage
oil 100000. j am informed that about
four months ago he settled $500, 900 on his
wife and youngest son. and leaving for
his own use about 100000, all Of which
believe he has since lost Since July,
1880, there has been radical change in
Mr.. Hutchinson's method OF TRANSMITTING
business OF late, in a word, ne has been
risklng large losses to gain possible small
profits. In his departure from the city
think Mr.. Hutchinson knew what he was
doing-that he was aware he could not
settle in full, and was so mortified that
he concluded to absent himself till set
tlement could be made"
CHICAGO, April 30.-The B. P. Hutchin-
son incident, so far as its effect on sales is
concerned, has disappeared from the
board OF trade as suddenly as did that en-
ratio individual himself. Before the OPEN
ing of the board Of trade this morning the
official announcement was publicly made
to the assembled operators that
all OF Mr.. Hutchinson's open trades
would be assumed by G. B. Congdon &