The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-04-13
PARTRIDGE TURNED BUYER
Bulls Whipped to Standstill and the
Wheat King Rakes in His Profits.
The Chicago Market Killed, for the Time Be-
ing, BY the Man Whose Gambling Nerve
Has Been the Wonder Of Operators
TRADING AT CHICAGO.
The Leading Cereal Touches 10 3-Sc, and
Weak Thet.

The Leading Cereal Touches 10 3-Sc, and
Weak That
CHICAGO, April 12-Dead as dressed
beef was the condition to-day of the bulls
in the wheat trade. Mr.. Partridge. instead
of raising another hurricane by attempting
to break the price. further took advantage
of the prevailing weakness and purchased
steadily from opening till the close. To-
night he proclaimed that he was safe-en-
tirely out of reach of the bulls. All the
news seemed unfavorable for the friends
of wheat Cables were heavy and lower.
domestic markets were tending downward,
the export business meagre, and amount
of wheat and -four showed an increase dur
ing last week of s0s.000 bushels. The eX-
ports from India were nearly so per cent.
larger than the week previous, or 10000
bushels. against $4,000 bushels. and the
shipments from all parts of the world to
Europe were 5.GiO.OOO bushels last week.
against 4. $50, 900 bushels the week previous.
Long wheat came out freely. and for time
there was very little demand. Aithou gh
early deals of May were at some advan CO
over last nj ght's close. with sales as high
as S07sc. the market was gradually honey
combed with weakness and it did not take
long TO get the price down to 79i9c for May
and 79Gc for July. The more the govern
ment crop report was discussed the strong
er became the conviction in good many
minds that it is by no means bullish
document. They admit that it undoubted-
ly indicates o smaller crop than last year
by possibly 1O0,O00.000 bushels. but they
also contend that the crop last year was
100000, 900 bushels larger than could we'll
be disposed OF. even with the bad condi-
tions in Europe and the withdrawal of
"a
tries. as shown by the unusual II not I'M
precedented amount still unsold. The
coming crop, these people contend, with
the amount to be carried over from the
old crop, will give asmuch as we have been
able to find q market for the past season.
while the prospect is that Europe will not
want nearly so much. After the market
got down to 79l5c there was some reaction.
PARDRIDGE COVERING.
Partridge turned big buyer at SOC and
below and undoubtedly covered big por-
tiof of his short line. IL was the general
impression that he was disposed to even
up. The English markets were not only
quoted lower. but the dispatches from
there indicated that the feeling approached
Generalization and that lower prices were
expected. There were any mum Der of crop
messages and they were very conflicting.
Illinois points generally reported improve
that the growing weather developed much
damage done by the late hard weather in
Kansas fields. Thompson. of Duluth. wired
that the outlook for the spring crop W as
never poorer at this season Of the year. 1t
was also reported that such excess of
moisture existed in the Red river country
as to be serious obstacle to spring work.
The corn trade was rather light The
tendency was downward. in sympathy with
the depression in wheat. MAY corn was
relatively weaker than July, the former
closing with decline of l5c. and the
latter virtually at the same price as on the
Cay before
In oats the offerings were more liberal.
Wheat and corn were lower. but on the de-
clines there was good buying. and prices
were POI cars and overran the estimates:
May and June closed with loss COMPARED
with yesterday of 50 20 so.
The provision market closed shade
lower. and consisted only in the main of
transactions between prominent operator
who was selling and a leading packing
house. The opening was steady. but the
market tell of. in response TO the weak
ness in wheat and then fiuctuated with it.
| There was considerable changing over
from May to July by the country at 12lso
difference in favor of the latter. The rea-
son for the narrowness of the carrying
charges as com, AIRED with year ago. when
il was 40c. Is said to be that there is a large
short interest out. The main cause for the
weakness in the market is claimed to be a
hogs from now till the end OF May will be
quite large. There was q fair demand for
vessel room, and very light offerings. Rates
were &c for wheat aud Ia O for corn to
Buffalo. Estimated receipts for tomorrow
are: Sixty cars of wheat. $50 of corn. 40 Of
oats and q. 600 head of hogs. The leading
futures ranged as follows:
Dnt;o1c tO,a.;a nj ry;oboct n,rect tCJoe;ro