FIRST BLOOD
_Wholesale--The little envies of life--Learning how to read--What
there might be in sausage--Schemes--A rise in life--Big John's
favoring eye--Going short of pork--Uncertainty--Five thousand
dollars in the bank_
I told them all at the supper table that evening how I was going into
wholesale with Henry I. Dround & Co. Slocum nodded approvingly, but
before any one could say a word of congratulation, Hillary Cox snapped
this at me:--
"So you were looking out for yourself with that Carmichael man! I
thought the Enterprise wasn't big enough for your talents. A desk in the
inside office, I s'pose?"
"Not quite yet," I laughed; but I didn't say how little my job was to
be.
Miss Cox had given me up. I don't believe she meant to be disagreeable,
but somehow we had become strangers, all at once. There were no more
gossips on the front steps or Sunday parties. Ed went to church with her
in my place. They were getting very close, those two, and it didn't take
a shrewd eye to see what was going to happen sometime soon.
The others were more generous than the little cashier and inclined to
make too much of my good fortune. For the first time in my life I had
the pleasure of knowing that folks were looking up at me and envying me,
and I liked the feeling of consequence. I let them think I was to get
big wages.
"I suppose you'll be leaving this ranch before long?" Lou suggested.
"Oh, I shouldn't wonder if I might move over to the Palmer House."
A look of consternation spread over Ma Pierson's face at my joking
words. She saw a quarter of her regular income wiped off the slate.
After the others had gone I told her it was only a joke, and that I
should stay with her "until I got married." She cried a little, and said
things were bad with her and getting worse all the time. Lately Lou had
taken to going with such kind of men that she had no peace at all. I
tried to cheer her up, and it was a number of years after that before I
could bring myself to leave her place, although the food got worse and
worse, and the house more messy and slack.
Even when, later, I began to make a good deal of money, I did not care
to change my way of life. At Ma Pierson's were the only people I knew
well in the city, and though Grace, and Lou, and Ed, and Dick weren't
the most brilliant folks in the city, they were honest, warm-hearted
souls and good enough company. And the law clerk, Slocum, was much more.
He meant a good deal to me. He taught me how to read--I mean how to take
in ideas as they were thought out by those who put them in books. He
lent me his own books, all marked and pencilled with notes and
references, which showed me how a well-trained mind stows away its
information, how it compares and weighs and judges--in short, how it
thinks.
We had many a good talk, sitting on the dusty stone steps in our shirt
sleeves late summer nights, when it was too hot to sleep. He had read a
deal of history and politics and economics as well as his law, and when
it came to argument, he could shut me up with a mouthful of facts that
showed me how small my lookout on the world was. I remember how he put
me through his old Mill, making me chew hard at every point until I had
mastered the theory; then he fed me Darwin and Spencer, and Stubbs and
Lecky, and a lot more hard nuts. And I think that I owe no one in the
world quite so much as I do that keen, silent Yankee, who taught me how
to read books and know what is in them.
Meantime I was not doing anything wonderful over at the Yards. For
several months the big manager scarce looked my way when he came across
me, while I drove and made deliveries to the city trade. Dround & Co.'s
customers were mostly on the West Side, in the poorer wards along the
river, where Jews and foreigners live. I used to wonder why the firm
didn't try for a better trade; but later, when I learned something about
the private agreements among the packers, I saw why each kept to his own
field. I soon came to know our territory pretty well, and got acquainted
with the little markets. My experience at the Enterprise gave me an
idea that I thought to turn to some account with Dround's manager. One
day, as I was driving into the Yards, I met the Irishman, and he threw
me a greeting:--
"Hello, kid! What's the good word?" And he climbed affably into the seat
beside me to drive up to the office.
Here was my chance, and I took it.
"Why don't Dround's handle sausage?" I said to the manager.
"What do you know about sausage?" he asked.
I told him what I had in mind. When I worked for the Enterprise we used
to have trouble in selling our sausage. Women were afraid of it,
thinking it was made from any foul scraps in the store. So, to make the
customers take it, I hit on the plan when we had fresh sausage meat of
putting some of the sausages by in clean little pasteboard boxes, and
the next time a particular customer came in I would call her attention
to one of the boxes, "which I had put aside for her specially." And she
would take it every time. In this way the Enterprise built up a
considerable trade in sausages. The same condition existed in other
markets, as I knew; good customers were afraid to eat the ordinary
sausage. So, I thought, why shouldn't the packing-house put up a
superior kind of sausage in nice little boxes, with a fancy name? The
marketmen could retail them handily. Carmichael seemed to be impressed
with my idea: he asked questions and said he would think it over. That
encouraged me to spring another scheme on him. Dround's trade was in
the Jewish quarters, but of course we didn't sell to the real Jews.
[Illustration: _"What do you know about sausage?" he asked._]
"Why not get some old rabbi and make kosher meat--the real article?
Strauss and the other packers don't handle it. We might have the market
to ourselves, and it is a big one, too."
"Kid, you've got a head on you," big John said to me with warmth. And I
saw myself a member of the firm next week!
It didn't work as easily as that, however. The next time I saw the
manager I asked him about sausage and kosher meat, and he scowled. It
seems he had presented my ideas to Mr. Henry I. Dround, and that
gentleman had turned them down. He was a packer, so the head of the
house said, and no cat's-meat man, to retail sausages in paper packages
to the public. The same way with the kosher meat idea: his business was
the packing business, and the firm wasn't trying any ventures. It seemed
to me that Mr. Henry I. Dround lacked enterprise; I felt that his
manager would have given my ideas a trial.
It was not long after that, however, before Carmichael took me into the
office and made me a kind of helper to him, sending me up and down the
city to collect accounts, look after the little markets that traded with
Dround's, and try on the sly to steal some other fellow's business--that
is, to break secretly one of those trade agreements which the packers
were always making together, and always breaking here and there, and,
when caught, promising each other to be good, and never do it
again--until the next opportunity offered, of course! This was more or
less confidential and delicate business, and I was not let into the
inside all at once. But I said nothing, and kept my eyes open. I began
to know some things about the business, and I could guess a few more. I
learned pretty soon that Henry I. Dround & Co. was not one of the
strongest concerns in the city; that it was being squeezed in the ribs
by the great Strauss over the way--that, if it had not been for the
smart Irishman, Strauss might take the bread out of our mouths.
Next to Slocum, I owe big John Carmichael more than I could ever pay in
money. He was an ignorant, hot-tempered, foul-mouthed Irishman, who had
almost been born in the Yards, and had seen little else than the inside
of a packing-house all his life. He couldn't write a grammatical letter
or speak an unblasphemous sentence. But it didn't take me long to see
that Dround & Co. was Carmichael, the manager, and that I was in the
best kind of luck to be there under him, and, so to speak, part way in
his confidence....
Well, as I said, I got an inkling from time to time how there was a
private agreement between the large firms to carve up the market, retail
as well as wholesale, and that when one of the firms felt that they
could do it safely they would sneak around the agreement (which, of
course, was illegal) and try to steal their neighbors' trade. Carmichael
managed this business himself, and now and then, when he saw I knew how
to keep my mouth shut, he would trust some detail of it to me.
But I was getting only twenty dollars a week, and no rosy prospects. My
little schemes of making sausages on a large scale and kosher meat had
been turned down. I stowed them away in my mind for future use.
Meantime, after working at the Yards for nearly two years, I had managed
to lay by about a thousand dollars, what with my savings when I was at
the Enterprise. That thousand dollars was in a savings-bank downtown,
and it made me restless to think that it was drawing only three and a
half per cent, when chances to make big money were going by me all the
time just out of my grasp. I kept turning over and over in my mind how I
might use that thousand and make it breed money. There were lively times
then on the Board of Trade. Nothing much was done in the stock market in
Chicago in those early days, but when a man wanted to take his flyer he
went into pork or grain. I used to hear more or less about what was
being done on the Board of Trade from Dick Pierson, who had been
promoted from scrubbing blackboards to a little clerkship in the same
office, which operated on the Board.
Dick had grown to be a sallow-faced, black-mustached youth who had his
sisters' knack of smart dressing, and a good deal of mouth. He was
always talking of the deals the big fellows were carrying, and how this
man made fifty thousand dollars going short on lard and that man had his
all taken away from him in the wheat pit. He was full of tips that he
picked up in his office--always fingering the dice, so to speak, but
without the cash to make a throw. Dick knew that I had some money in the
bank, and he was ever at me to put it up on some deal on margin. Slocum
used to chaff him about his tips, and I didn't take his talk very
seriously. It was along in the early summer of my third year at Dround's
when Dick began to talk about the big deal Strauss was running in pork.
Pork was going to twenty dollars a barrel, sure. According to Dick, all
any one had to do to make a fortune was to get on the train now. This
time his talk made some impression on me; for the boys were saying the
same thing over in the office at the Yards. I thought of asking
Carmichael about it, but I suspected John might lie to me and laugh to
see the "kid" robbed. So I said nothing, but every time I had occasion
to go by the bank where I kept my money it seemed to call out to me to
do something. And I was hot to do something! I had about made up my mind
after turning it over for several weeks, to make my venture in Strauss's
corner. Pork was then selling about seventeen dollars a barrel, and
there was talk of its going as high as twenty-five dollars by the
October delivery.
It happened that the very day I made up my mind to go down to the city
and draw out my money I was in the manager's office talking to him about
one of our small customers. Carmichael was opening his mail and
listening to me. He would rip up an envelope and throw it down on his
desk, then let the letter slide out of his fat hand, and pick up
another. I saw him grab one letter in a hurry. On the envelope, which
was plain, was printed JOHN CARMICHAEL in large letters. As he tore open
the enclosure I could see that it was a broker's form, and printed in
fat capitals beneath the firm name was the word SOLD, and after it a
written item that looked like pork. As Carmichael shoved this slip of
paper back in the envelope I took another look and was sure it was pork.
I went out of the office thinking to myself: "Carmichael isn't buying
any pork this trip: he's selling. What does that mean?"
As I have said, the manager had charge of those private agreements with
which the trade was kept together. In this way he came in contact with
all our rivals, and among them the great Strauss. After thinking for a
time, it was clear to me that the Irishman had some safe inside
information about this deal which Dick did not have, nor any one else on
the street. That afternoon when I could get off I went down to the bank
and drew my money. At first I thought I would take five hundred dollars
and have something left in the bank in case I was wrong on my guess. But
the nearer I got to the bank the keener I was to make all I could. I
took the thousand and hurried over to the office on La Salle Street,
where Dick worked. I beckoned him out of the crowd in front of the board
and shoved my bunch of money into his hand.
"I want you to sell a thousand barrels of pork for me," I said.
"Gee!" Dick whistled, "you've got nerve. What makes you want to go short
of pork?"
"Never you mind," I said; "go on and tell your boss to sell, and there's
your margin."
"I'll have to speak to the old man himself about this," Dick replied
soberly. "This ain't any market to fool with."
"Well, if he don't want the business there are others," I observed
coolly.
[Illustration: _"All right," he called out, "we'll take his deal."_]
Dick disappeared into the back office, and I had to wait some time.
Presently a fat little smooth-shaven man shoved his head through the
door and looked me over for a moment with a grin on his face. I suppose
he thought me crazy, but he didn't object to taking my money all the
same.
"All right," he called out with another grin, "we'll take his deal." And
Dick came out from the door and told me in a big voice:--
"All right, old man! We sell a thousand for you."
When I got out into the street I wasn't as sure of what I had done as I
had been when I went into the broker's office; but I had too much nerve
to admit that I wished I had my money back in my fist. And I kept my
courage the next week, while pork hung just about where it was or maybe
went up a few cents. Then it began to slide back just a
little--$16.87-1/2, $16.85, $16.80, were the quotations--and so on until
it reached $16.50, where it hung for a week. Then it took up its retreat
again until it had slid to an even $16. Dick, who congratulated me on my
luck, advised me to sell and be content with doubling my money. Strauss
was just playing with the street, he said. This was only the end of
August: by the middle of September there would be a procession. But my
head was set. To be sure, when, after the first of September, pork began
to climb, I rather wished I had been content with doubling my money. But
I pinned my faith on Carmichael. I didn't believe he was selling yet.
For a fortnight at the close of September, pork hung about $16.37-1/2,
with little variation either way. Then the last three days of the month,
as the time for October deliveries drew near, it began to sag and
dropped to $16.10. I hung on.
It was well for me that I did. October first Strauss began delivering,
and he poured pork into the market by the thousand barrels. Pork
dropped, shot down, and touched $13. One morning I called at the
broker's office and gave the order to buy. I had cleared four thousand
dollars in my deal.
It was first blood!
There was about five thousand dollars in the bank that day when I went
back to the Yards, and I was as proud as a millionnaire. Somehow, I
seemed to forget how I had learned the right tip, and thought of myself
as a terribly smart young man. Perhaps I looked what I was thinking, for
when the manager stepped out of his office a little later and eyed me
there was a queer kind of smile on his lips.
"What's happened, kid?" he asked, quizzing me. "Been selling any more
pork this morning?"
Then I suspected that somehow he had learned about my little venture in
the market. I was doubtful just how he might take it.
"No," I said. "It's the time to buy now, isn't it?"
"Covering?" he chuckled. "Well, that's good. Say, some one telephoned
out from Cooper's office for you this morning--about a little deal in
pork. I answered the 'phone."
So that was the way he had learned! That fool Dick had got nervous, and
been telephoning to me.
"I hope you made it all right," Carmichael added.
"You bet," I answered cheerily. And that was all that was ever said
about the matter.