New Britain herald. [microfilm reel] (New Britain, Conn.) 1890-1976, 1927-04-16
ARMOUR GRAINHAD
COL0RFUL CAREER
Suspended Company Was Once
Powerful and Feared


by economic winds and outlawed by
Its companions in the trading world,
the Armour Grain company, one of
the once vast holdings Of the Ar
mours, today disappeared from the
Chicago board of trade, in whose
pit it once was feared and respect
Cd. An order OF the board of trade
sUspending the company became ef-
tcctiye today. In its golden days the
concern sold as high as 100000
bushels OF cash wheat in u single
day. 1t was originated in 1890.
The passing OF the Armour Grain
company marks another episode in
the financial operations OF the Ar
mour family. which for half a cen
fury have 'been linked with the
growth of Chicago. 4 special COM
mttce of the board of trade de-
cIared Testimony" Of the company
clearly shows wrongful acts for
which we deem the Armour Grain
company responsible"
r. d. Armour founded the family
fortune in the last quarter OF, the
nineteenth century Chief of fac
tors in it's establishment was the
Armour Packing company. P. d. had
two sons, Philip u. Jr, and ]. Og
den. The former died in early man
hood. While ]. Ogden was a student
at Yale the father summoned him TO
Chicago to assist in the manage I
ment Of the company. In 1900 the
father died and the young man,
then 81 years old. took over the
management.
End Gay Life
The gay life which then char
acterized the growing city at the
foot Of Lake Michigan. J. Ogden put
behind him and plunged energetlcal- |
" into the business world. Under
his dominance the packing company
expanded, and in 1917 it was recap
italized at s100,o00,ooo.
Tho young mans energies were
not, however, confined to the pack
ing industry. He succeeded IN
amalgamatins the Commercial and
Continental National banks, the new
concern representing one OF the |
strongest financial institutions west |
Of New York. j. Ogden's holdings
we're estimated at $5,000,00
Trading in grain caught Armonr's /
eve and in this cndcavor his actions
we're as spectacular as they had |
been in packing and banking. Rail |
reading was another of the Armour |
interests, J. Ogden acquiring 10000 |
shares Of stock in the Chicago, Nil !
waukee and ST. Paul.
During the congressional agitation |
against trusts in the first and Sec
oDd decades OF the twentieth CEN
fury. the Armour Packing Company
was subjected 10 several legislative
Investigations. In 1903 the Armour
concern was indicted, the govern
ment alleging meat barons' were
Interfering with interstate trade.
Officials subsequently were exoner-
atnd.
Armour vigorously fought at
tcmpts of labor unions 10 organize
the packing plant workers. ii" de-
Tended the compauy's wage policy,
contendiug he always sought to re-
munerate his employees according to
their productivity.
MY door is open to the humblest
employe with a grievance he told
the United States commission on IN
dusrial relations in 1915.
Writes Book. Too
With his multiplicity OF interests
!. Ogden still found time to write
a book THE Packers and the Peo-
ple," a defense of the packers pol
Icy.
In 1892 La Sale street heard the
first whisper that Armour had lost
heavily In grain transactions. The
losses, rumors said, were as much I
as s2o.000.00o.
The following year, the company
was merged with the Morris Pack
ing company. and Armour retired as
president. Several banks We're TAX
en in as directors In what Armour
called a policy OF making Armour
and company public rather than a
private corporation" The same year
his name disappeared as one Of the
large holders OF bank stock. He
had been the largest in Chicago. ;
Armour also disposed Of most OF his
traction interests. He declared 1t
was his intention to reduce his
holdings to those in the packing
company.
Two year. ago, according to Phil
fp D., and Lester Armour. nephews
OF J. Ogden, the Armour Grain
company undertook to liquidate its
property and grain interests. This
liquidation was delayed. a statement
said. because the company also I'M
dertook to liqnidate the affairs of
the Grain Marketing company.
J. Ogden at the height OF his
career, was a never failing subject
for the reporter. He discussed free
ly current events and his comments
often were intriguing.
rs 1t profiteering to sell picked
pigs feet at half what they cost
standing in the mud of the pigsty?'
he remarked when defending the
packers against exorbitancy.
Armour once said he wore an
overcoat two seasons, bought two
suits a year and made a hat last
five seasons.
or recent years the affairs of the
Armour interests have largely been
in the hands of younger members
OF the family.