The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-03-07
THE STORY OF
HAMM0ND'S RISE
His Sensational Fight with the
Minneapolis Chamber-His
Previous Record, ,.-

George j. Hammond is the world $
greatest bucketshopper. When in his
heyday about year ago he operated
from his Minneapolis headquarters ITS
ofces. These offices were in Minnesota,
North and South Dakota and wisconsin
principally. There were extensions,
however, into many other states. There
were private lines to Winnipeg and to
New York, Chicago and Boston. On the
Pacific coast there was big business.
Oregon had nineteen Coo commission
offices at one time and Montana, Wash
ington and other western states were
connected by private wire with the Min
neapolis headquarters. -,:
How much business Hammond did no
one but himself and his immediate asso-
ciates know, but he was reputed to have
made winnings Of as much as $4,000 in
single turns at times, and was known
Recently affairs have not been. favor
able For six weeks it has been known
that he was in trouble and many checks
have been thrown out of bank for lack
Of funds to make them good.
Thousands Of small spectators thru
the country heard the vague rumors Of
financial embarrassment and fought
shy. Business fell off and Hammond
fund himself forced to adopt 9 policy, Of
retrenchment and to close up q number
Of outside offices. The recent embar-
Co. of the Guaranty Loan building, and
the posting of notice on the door
over Mr.. Dapron Is signature to the ct
feet that he was unable; to force a salts.
factory cash settlement with Hammond
added fuel to the fire and rumor had 1t
that Hammond was down and out.
But he pulled thru and stood against
every attack. To all who approached
him he was courteous and cheerful, say
ing that a Speculation must have hls ups ~
and downs, and that this was one OF the
downs and that he would pull thru
and pay up all right if given time,
Those who knew his resourcefulness and
his daring as Spectator. believed 1t
possible that he would yet win out by a
bold stroke, but the fight has been toe
great for him.
Game Here In 1900. 49,.
George J. Hammond first appeared II
| MINNEAPOLIS about the fall Of 1900
He began here very quietly and by thu
spring Of 1901 had a business of con
siderable proportions in. operation, un
der the name Coe Commission company
No ono ever saw Coe, who was Wash
ington, D. c. man, and who never ap
peared here and finally pulled. out Of thu
| firm. A reputation, not of the bes
from commercial standpoint, followed
Hammond, but did not prevent hin
from doing business. He had big banl
roll and was a ready spender,, and yer.
liberal with his employees besides beln'
made many friends and drew much pat
ronage from the speculatively inclined
who cared not whether they patronlze'
legitimate exchange house or buck
etshop. -,
big business that people began TO IN
auire about him, and his past histo1r
tho man who ran the Combination In
yestment company Of Chicago, cor
/ Germ that went bump in 1899, leavln
l.2OO creditors with claims Of $2SO,OO
and assets of $4,000.
~s Hammond's Bad Record.
The farther back the investigator
went the worse the record became, TO
by going another year, to 1898, 1t wa
mess at Terre Haute, Ind, thru an a.
tempt to make raid upon the strong
boxes of the bookmakers at the race
The story, which appeared In all tn
Chambepr Of '' Commerce fight was Q
here, showed how o. M. Stone and G.
: Hammond were in scheme with Blu
ley Stevens, conductor on the Chicae
& Eastern Illinois railway. Stone an
Hammond tapped the wires and ser
: names Of the winning horse to their eol
federate and pulled down 500 on tt
deal. They bought the tapping QUIT
from w. A. Graham Of Chicago Il
$3.50. -
Chief Colleran Of the Chicago polio
department said at that time: 'Stol
: is one of the best wire tappers know
Hammond is his partner. Have bee
]: in similar trouble before, but not co
: victed, Both are bad men.
Farther back than this, Hammer
!: was an "advisory agent. He had {
: Office in the Medinah building. in Oh
5 cago, and he sent out inside inform
. tion on the market for considerable
8 advertising that he could make o
. money for all who trusted him.
3 Such in brief is the history Of Il
s man who in four years worked into SUI
!: prominence in Minneapolis.
!. By 1903 Hammond had reached t.
!: stage where he desired to become mo
. a legitimized trader In the CONNIE
. cial understanding Of the term, al
. the result was the organization Of t
. Independent Grain and Stock exchan
/. of Minneapolis. Hammond. also secur
!. control of a small elevator on the Hs
/. tings & Dakota division Of the Milwa
. kee road and advertised for consie
s ments of grain, but was never able
!. do anything this way. Finally he thrt
Gi Continued on I'd Page, 9Th Column,