Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-04-16
ARMOUR GRAIN CO.
VAN|SHES FROM PIT
Board of Trades Suspension
Order Becomes EffeC-
tive Today.

~ the Associated Press
CHICAGO, April 16-Buffeted by
economic winds and outlawed by It's
companions in the trading world, the
Armour Grain Co, one OF the once
vast holdings of the Armours, TO-DAY
disappeared from the Chicago board
Of Trade, in whose pit 1t once was
f0hrEd and respected.
an order OF the Board of Trade
augpending the company became efiec-
tive today.
In its golden days. the concern SOLD
"a high as 5000. 600 bushels of cash
wheat in a single day. 1t was orlSl-
mated in 1890.
The passing of the Armour Grain
60. marks another episode in the
financial operations of the Armour
family. which for half century have
been linked with the growth OF
Chicago.
Fortune of Long Standing.
Snecial committee of the Board Of
Trade declared Testimony" of the
companv's connections with the de-
funct grain marketing company
ssclesrlv shows wrongful acts for
which we deem the Armour Grain Co
responsible"
p. d. Armour founded the family
fortune I'm the last quarter of the
nineteenth century. Chief of the FAC
tors in its establishment was the
Armour Packing Co.
p d. had two sons, Philip D., jr.,
and ], ogden. The former died IN
early manhood. While j. Ogden was
a student at Yale the father sum-
n,oned him to Chicago to assist in the
management of the company. In l9o0
the father died and the young man,
then 81 years old, took over the
management.
THE CAV life which then character
ized the growing city at the foot of
lake Michigan J. Ogden put behind
him and plunged energetically into
4he business world. Under his doml-
nance the packing company expanded,
and in 1917 it was recapitahzed at
500, 200, 900.
The Young mans energies were not.
however. confined to the packing in
dustry. He succeeded in amafgamat-
ing the Commercial and Continental
national banks, the new concern repre-
aenting one of the strongest financial
institutions west of New York. j.
Ogden's holdings were estimated at
$4,000 900.
Trading in grain caught Armour's
eve and in this endeavor his actions
we're as spectacular as they had been
in packing and banking.
Railroading was another of the
Armour interests. j. Ogden acquiring
90. 900 shares of stock in the chicago,
Milwaukee & st. Paul.
During the congressional agitation
against trusts in the first and second
decades of the twentieth century pack
ing companies were subjected to sew
Aral legislative Investigations. In 1908
Federal indictments were returned
against five corporations, including the
Armour, Swift and Cudahy packing
concerns, the Government alleging
the meat barons" were interfering
with interstate trade. Officials subse-
uuently were exonerated.
With his multiplicity of interests, j.
Og1fen still found time to write book,
'sThe Packers and the People"
aefense of the packers policy.
Heavy Losses Rumored.
In 1922 La Sale street heard the
Arst whisper that Armour had lost
:. heavily in grain transactions. The
losses, rumors said, were as much as
&20, 1000, 900.
The following year, the company
was merged with the Morris Packing
Co. and Armour retired as president.
Two years ago, according to Philip
D. and Lester Armour, nephews of j.
Ogden, the Armour Grain Co. under
took to liquidate its property and grain
interests. This liquidation was de-
layed, a statement said. because the
company also undertook to liquidate
the affairs of the Grain Marketing Co.
OF recent years the affairs of the
Armour interests have largely been in
the hands of younger members of the
family.