The Baltimore County union. [volume] (Towsontown, Md.) 1865-1909, 1900-03-24
A CORNER IN WHEAT.

CORNER IN WHEAT.
Two days before settling day wheat
touched SI.25. The pit was wild
with excitement, but "Old Hutch"
remained in his favorite chair, tilted
back against one Of the posts, calm
and Indifferent. Frenzied men crowd
ed about him and implored, begged
and demanded to know where the adj
=v1ncE w5afG stop. For all OF them
Mr.. Hutchinson had the same an
swer
"Come in and settle, boys. Sep
TENDER wheat will bring 81. so tomor-
row and 81 on settling day"
Tomorrow came, and wheat
was bid up to $3.50, with spectators
tumbling over one another to get 1t
at that price. Through the tumult
Mr.. Hutchinson sat unmoved. He
was the only man in all that bowling
crowd who had grain to sell, and he
didn't see fit to let go oft. The clos
ing bell found brokers clamoring
about him with offers to buy ats $50,
but he ignored them.
ut will be SIS tomorrow boys,
was all he would say.
And it was. The mark the old
man had set was reached, and he set
tied at that figure with such of the
losers as were obstinate and had not
already come into camp. Reports
vary as to what he cleared on the
squeeze, the figures generally accept
ed being between s., 500, 900 and So
7so. 900. At the same time Mr..
Hutchinson was careful to avoid Sc
we're pressure on any of the good
fellows" Among his close friends
at that time was Columbus A. Orvis.
During the last days of the corner
Mr.. Orvis heard of a number of their
mutual friends who had been caught
in the squeeze. In every instance he
would 60 to '.Old Hutch" and say
sOld - is short about $4,000,
and is hit hard. Let up on him,
Hutchinson, for old times sake"
sSure. Make any kind of settle
ment you please with him. | don't
want to hurt anybody"
In ether instances old friends who
safe profit in the squeeze
wanted to get into the market, but
were Unable to get buying orders ac-
cepted. Nobody but Hutchinson had
wheat for sale. Every man of this
class who applied directly to M J, :
o'0SSs-1 a1ss---,-l.z1 tfic0f turned II
over within couple of days at SI.5o
and So.
"I'm not after the lame ducks, 4"
Hutchinson said. L hope every one
of 'em will make money. The chaps
I'm cunning for are those smart guys
q who have been trying to down me,
and4m going to get them. Lord.
how I'll make EN- howl p
He did. The losers howled so
loud that the echoes of their cries
were heard in the board of trade cor
ridors for months. Unlike most cor
ners, the bottom did not drop out of
the market when the September deal
was settled. Prices held up away
into October, and weeks after Mr..
Hutchinson had taken his profits aud
pulled out, traders were afraid to sell
short lest the ghost of ''Old Hutch"
should pop up as buyer.
Under the stern exterior, the APP
pearsnce of which was increased by
his rugged hook nose, sharp features
and severely plain clothes, "Old
Hutch" had a warm, kindly heart.
He was devoted to children and was
never so happy as when entertaining
party of little ones, which he frequent
ly did at his office or club. People in
financial distress always found in
him a generous friend, especially
those who were caught in the mael-
strom of speculation. Nor were his
charities in this line confined to his
immediate associates. He assisted
even those who were opposed to him
in trade. It is told of him that on
one occasion a friend found him
stamping about his Office in a great
rage. The news had just reached
him of the impending failure of
trader for whom he had a strong dis
like.
IS going UNDER" said Hutch
inson as his friend inquired the cause
of his excitement. Hes a rascal
and ought to suffer, but he's got good
people depending rpon him for sup
port. Besides that, his failure would
wreck whole lot of innocent firms.
Go over and see how he stands and
draw on me for what money is needed
to put him ON his feet again"
Mr.. Hutchinson furnished the mon
ey, the failure was averted and the
trader kept on in business. And yet
he was man that Hutchinson would
not trust with an order for 5000
bushel trade Chicago Inter Ocean.
BETTER THAN WEALTH.