St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-03-20
PARTRIDGE A SELLER.
The Big Chicago Trader Let
Out Three Million Bushels
of Wheat.
He Sold to Break and Bought,
the Sold to Prevent an
Advance.
Aggregate Of Buying Large
and Considerable Strength
Developed.
Coal Stocks and Sugar Alone
Gave Evidence Of Life at
New York.

CnIcAGo. March 19.-Partridge had his force
bf brokers marshaled three deep, and all
selling wheat around the northwest corner
of the pit this morning. He kept them busy
and it was said 5000, GOD bushels would no
exaggerate their sales. Linn d Dwight. L. ID.
Armour & Co., and other elevator interests
were buying. The Southwest also purchased
heavily, and at the close the profit III selling
short ut SIC was not as apparent as it ap-
peared at one time Friday afternoon. After
an early break to SAC, May wheat rallied to
and closed at S5Ac. or Ssc higher than it did
yesterday Corn was weak early. and firm
toward the close, but left off at shade I'M
der Fridays resting price. Hog products
continued to wallow in the mud into which
they tumbled yesterday, but closed at some
recovery from the lowest prices of the day.
great many came TO business with their
bull clothes on; but declining market the
first hour took the enthusiasm out of those
who first plunged in to buy, and they sold
out at loss. They were met by the scalping
tactics CT Partridge. He sold until the mar
ket broke, then bought in some wheat and
sold again on every attempt at an advance
Wheat started easier at from lac to Ssc under
The price il closed at yesterday. The decline
was due principally to the early discouraglng
news from abroad. There was another Sc
we're cold wave brewing III the Northwest
which helped 10 sustain the courage OF those
disposed to the bull side of the market; put
the public cablegram from Liverpool report
ed that market quiet, with poor demand and
prices unchanged in some positions. anG l2d
lower III others.
Minneapolis and Duluth receipts were 537
cars, against 32S week ago. Export clear
Hnces for the week from both coasts were re-
ported by BradStreets as 62000 bushels more
than OH the previous week, but from the At
lantic coast the shipments fell 40f, 500 bushels
short of those of the week before New YORK
messages received early in the day were lugu-
brious III their tone. and reported foreigners
reselling lately purchased wheat ard gen
eraI lack of orders at anywhere near the mar
ket; later however, their tone changed, and
reports came to hand of foreign purchases
made at the seaboard for shipment 10 the
continent as far forward as TO september
next. which appear to indicate European con-
tinental buyers were not reluctant TO take &C
count of the poor prosnects for next wear
The opening price for May was from S43sc to
B4S4c, against o11SGQo5c at the close yesterday
Partridge and many of those who bought on
Yesterdays break had wheat for sale at the
opening and overloaded the early buyers
with the result of causing decline to sac.
The fact of the late cables showing less de-
moralization abroad than earlier dispatches
appeared TO foreshadow caused a renewal of
the buying and an advance to the former
highest point. The frost damage reports also
came fast and furious. and, as on the day be-
PardTidge's selling was on heavy scale,
but so was the aggregate of the buying, ana
the latter increased toward the close at the
time when the big short sellers brokers were
becoming tired. There was an advance 10
S5Ac,and that was the price at the close. The
market developed great strength before the
close. The trade begaL 10 look more seri-
Dusly on the crop news. There was buying
here 10 cover line of July for Kaufman, of
st. Louis There was buying by all the
smaller shorts here. The commission houses
bought right up to the close and kept the
wheat. Phillips, Linn Cudahy and Seaverns.
with many, others were buyers. AT the last
Partridge Withdrew his brokers' who were
selling ali the way up, and the market closed
very strong. The May price went to 50 Ac
SIC and up to S414c: July forged ahead and
closed &c premium at S534c.
The corn trade forced the May price to 3Sc
The first hoCr of the session. This was the
low point for the day and for the year. The
break was chiefly the result of the heavy
movement and the promise of continued cold
weather. which may further increase re-
eeipts. The severely cold weather, extend
ing down 10 Texas. which was declared
loudly to have destroyed the prospects for a
crop In the South next season, was one of
the points being remarked upon in the pit.
With this there was further rally in sym
pathy with wheat toward the close, ana 3S5Sc
was the trading price as the bell tapped.
The oats market was quiet and void OF spe-
cial interest.
Provisions were for the most part dull and
md weak. receding i'll sympathy with wheat
and corn, but not showing as much recupera-
live power as the cereals, closing, as com
pared with yesterday, Ice lower for pork, 2l2c
for lard and &c for ribs
Estimated receipts for Monday: Wheat
200 cars; corn, $50 cars; oats, @12 cars; hogs
10000.
The leading futures ranged as follows: