Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1900-11-01
L|PION'S PORK DEAL
Final Day For the shorts Results
in Only a Moderate
Squeeze
The Englishman Had Them in His
Power But Was Compare
lively Easy.
History of the Deal, Its Beginning
and Conclusion-Miscellan
eous News

Chicago, Nov. Upton, the Sir
Thomas Of the 400 provision stores in
Great Britain and of yachting and
queens Jubilee fund fame. wound up
his October pork deal on the board Of
trade yesterday in good form. His
brokers just at the close Of change
We're 1linging abroad the Upton de-
Etiance by bidding $50 for pork-for any
amount OF it. 1t was the final formal
move in a deal that developed early In
1.-THE month, and which moved the pork
price up from Sill 10 $50: pretty nearly
doubling the price OF the famous Chi
icagc staple.
a month ago it was taken for granted
there was an Armour deal on in short
| ribs. a Cudahy deal in lard and Pat
| ton corner in corn. il was hinted there
was TO be a Upton corner in pork. At
| that time the short ribs We're around s
Ecerts a pound, the corn somewhere
abcux40 cents a bushel and the pork at
isi2
All those promising good things went
Ito the bad for the man who played
lthem except the Linton deal Armour
dropped the ribs. Gudahy let go of the
Hard and Patton sold out his corn. But
| the English barOnet stuck TO his pork,
and the man who bett that he'd do that
made up almost $40 barrel in less
than four weeks.
No one knows how large the October
short interest in pork was except the
Upton people. The provision profess
sional has assumed all along that 1t
was small. There was some excitement
for the first week in October, and then
| n long period of quiet until this closing
week. There were some bold enough to
believe that the pork corner would not
be run thru.
There was a dropIaing away of the
price from ST. on Oct. s to sl4. and there
Hi hung for days. But as the LAST day
Of October approached there appeared a
stir in the deal again From sl4 1T
moved up TO SIG or Monday and to SIT
I last TUESDAY Each advance logged the
memory Of some little short in the pit,
land possibly of some larger shorts. who
did not show up in the pit
Yesterday was the last Of the month,
land the final day of grace for the man
lwho had sold pork for October delivery
Ito Upton. The pit WAS on the alert for
Developments. The first price was slT,
land then there was 4 long pause.
After time the blackboard showed
jOctoher pork at SIS. and it was said
1000 barrels We're privately settled at
lJhas figure. The provision pit filled up
Ito witness ~ last plays in the pork
game. The next October. pork trade was
lat $50. Two small lots changed hands
AT that,
1 Within FIVE minutes OF the close Sam
Wolff, who has been the Upton broker
lin the manipulation, began bidding $40
for October pork. He put no limit on
khis bid. No one made any offer. The
minutes moved fast. Just al the last
stroke OF the clock bell. which an
npunced the Close CT the session and the
close of the north for the board Of
trade man. Broker Wolff shouted his
tfflai $50 bid. It closed the deal.
The Upton October pork corner had
gone into the record. 1t had not been
la big affair; possibly IL had made Sir
Y Thomas no money. One thing is Very
4eartain-tile man Who had sold the pork
no Upton at sf1 III September had made
none
II had been gentleman's game AL
agreed III that. Patton had let go d
us corn, cudahy his lard, Armour hi:
short ribs Upton had stuck it out.