St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-03-21
PARTRIDGE A SELLER
The Big Chicago Trader Let
Out Three Million Bushels
Of Wheat.
He Sold to Break and Bought,
the Sold to Prev vent an
Advance.
Aggregate Of Buying Large
and Considerable Strength
Developed.
Coal Stocks and Sugar Alone
Gave Evidence Of Life at
New York.

CHICAGO, March 19.-Partridge had his force
of 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, 900 bushels would no
exaggerate their sales. Linn & Dwight, z. d.
Armour &; Co., and other elevator interests
were buying. The Southwest also purchased
heavily. and at the close the profit i'll selling
short Mt Sic was not as apparent as il ap
peared at one time Friday afternoon. After
an early break to SIC, May wheat rallied to
and closed at S514c. 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 st some
recovery from the lowest prices of the day.
A 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 a loss. They were met by the scalping
tactics of Partridge. He sold until tine mar
ket broke, then bought in some wheat and
sold again on every attempt at an advance.
Wheat started easier at from Nc to Csc under
the price it closed at yesterday. The decline
was due principally to the early discouraging
news from abroad. There was another Sc
we're cold wave brewing in the Northwest,
which helped to sustain the courage Of those
disposed to the bull side of the market; but
the public cablegram from Liverpool report
ed that market quiet, with poor demand and
prices unchanged in some positions. and l2d
lower IN others.
Minneapolis and Duluth receipts were 537
cars, against 1928 week ago. Export clear
apces for the week from both coasts were re-
ported by Bradstreets as 62. 600 bushels more
than on the previous week but from the At
lantic coast the shipments fell 49l, 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
reseling lately purchased wheat ard gen.
eral 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 rs far forward as to September
next, which appear to indicate European con-
tinental buyers were not reluctant to take ac-
count of the poor prospects for next year.
The opening price for May was from S44sc to
S.34c, against S47s@DS5c at the close yesterday.
Partridge and many of those who bought on
yesterdays break had wheat Tor sale at the
opening and overloaded the early buyers
with the result of causing a decline to SIC.
The fact of the late cables showing less de-
moralization abroad than earlier dispatches
appeared to fOreshadow caused renewal of
the buying and an advance to the former
highest point. The frost damage reports also
fore, accompanied by buying orders.
Pardridges selling was on a 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
S5Hc, and that was the price at The close. The
market developed great strength before the
close The trade begal TO look more seri-
ously on the crop news. There was buying
here TO cover a line of July for Kaufman, of
NV, no
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 all the way up, and the market closed
very strong The May price went to IS a
and closed S5ls@1s5Ac; March was quoted
SIC and up to S4Ac: July forged ahead and.
closed &c premium at S534c
The corn trade forced the May price to CSC
the. first hour 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-
ceipts The severely cold weather, extend
ing down 10 Texas. which was declared
loudly to have destroyed the prospects for
crop In the South next season, was one of
the points being remarked upon in the pit.
With this there was a further rally in SYM
pathy with wheat toward the close, ana 3o5sc
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
and weak receding in sympathy with wheat
and corn, but not showing as much recupera-
tive power as the cereals, closing, as COM
pared with yesterday, 10c lower for pork, 21ac
for lard and sc for ribs.
Estimated receipts for Monday. Wheat,
2O0 cars corn, $50 cars; oats, 2l2 cars; hogs,
10000.
The leading futures ranged as follows.