The Elk Mountain pilot., 1918-02-07


osition with Louis F. Swift, but
Swift told him not to hurry, that Ar
mour would come in good time. He
appeared not to want "competition."
Then Gordon went to J. Ogden Ar
mour, and Armour assumed great in
difference. Said he didn't care to do
tit was pretty big proposition
etc.-and Mr.. Gordon reported fail
ure. A month later Gordon saw Ar
mour again, and was told that If
IF Mr. Armour did decide to come to
St. Paul, he would have to have
10000 shares of the stock of the
South ST. Paul Stockyards company.
That would be $1,OO0,O0O. Gordon
went home to St. Paul and reported
but was sent back post haste on this
hint of Mr.. Armour's generous con-
cession, and told to Jew him down"
if he could, but get him anyway.
Gordon went back prepared to guar
antee 100000 in cash to be raised
by subscription, and 100000 in
stockyards company stock to be OBJ
of the dummies who held it.
He went to Chicago. He called on
Mr. Swift at 8 a. ma one day, told
him what sacrifices St. Paul was will
ing to make to get Armour and beg
ged Mr.. Swift to come across with
the other hall million. Swift said he
would. Mr.. Gordon took hope, went
direct to Mr. Armour's Office, reach
ing there at 10 a. M, and told Ar
mour that the full bonus had been
arranged for Mr.. Armour smiled.
Mr.. Gordon called up Swift oh the
telephone, and Mr.. Swift came over
to Armour's Office and closed the deal.
In other words, in order to make
sure that Competition" would be
established in the South St. Paul
stockyards, Mr.. Swift, who absolute
ly controlled the market, offered his
biggest competitor" Armour, $780,
900 to come in and compete" with
him. This is the kind of "competi-
tion the farmers and consumers of
the Northwest got, the great stim-
ulus that the newspapers said would
result from getting an "outside"
packing house into the yards.
Mr.. Gordon came home and began
to raise the money. The first $780,
900 worth of stockyards stock was
delivered to Mr.. Armour through the
First National bank Of st. Paul, the
small certificates Of numerous per-
sons being turned over on demand,
and being concentrated into ono new
certificate for 1000 shares donated to
Mr.. Armour. Mr.. Swift promised to
see that Mr.. Armour got the addi-
tional 5000 shares of stock which
would complete the 81 900, 900 bonus
he was to get, but this could not be
done without comforting with stock
holders in England. The story Of
how they, and other small stockhold-
ers fell for this plan. and how Mr..
Swift made good to Armour by turn
ing over $5OO,OOO without lstting 90
of single share Of stock o. die8tng
up a dollar, will be told next Wssk.
It's good story, and with Il are
some other interesting details told
on the witness stand under oath
Meantime Armour demanded also .
share in the Stockyards National
bank, the financial concern Of the
beef trust in the Northwest, and he
got that too. Up to the present
time, Mr.. Armour has received Of his
promised 100000 in cash, 100000
and the balance is being turned over
in installments as fast as the Ar
mour plant calls for the money Ar
mour already has the 100000 in
stock of the St. Paul Stockyards
company. There are only 100000 in
cash left to pay out Of the 1,0O0, ,00O
and Armour and Swift are amicably
doing business together at South St.