Morning journal and courier., 1892-04-09
news By TELEGRAPH.
From ALI Quarters.
A SPRCULATOR At BAY.
Matters Shaped for Part
T. ridges Destruction.
GRAND REUNION OF c0NFEDERA1Es.
Minister Blair and the Chi
nese Government. =.
THE Correspondence MADE PUBLIC
The Business Outlook of
the Country.
THE Correspondence MADE PUBLIC
WHEAT WAS FORCED Up,

Suspicion That a Few Strong specu-
lators With Their Allies Have
Shaped Matters for PARTRIDGE Dc.
struction In Return for Losses In.
hicted on Them-It 10 Said That the
Daring Spectator IL Short About
Fifteen Million Bushels of May
Wheat and 1t IL Rapidly Rising.
CHICAGO, April 8.-Edward Partridge,
pit, was at bay to-day with thousand
wildly excited brokers almost literally
olutching at his throat and pocket. In the
struggle the price of wheat was forced up
81 cents. The frenzy continued long after
the regular closing hour, and the final
curb quotation recorded an additional ad-
vance of nearly two cents. Partridge's
operations of late have been enormous,
and while wheat has been nearly q quarter
of a dollar lower than at the correspond
ing time last year, he has been q short
cents on one of his deals he was reputed
to have won over q million dollars. The
next day he was reported to have said that
he aimed to establish 70 cent price for
wheat. From 80 cents he with gigantic
sales forced the price about half way down
to rs. Then the tide turned. There are
suspicious that few of the stronger spec
ulators with their allies in other cities and
abroad shaped matters for Partridge's de-
struction in retaliation for heavy losses
inflicted on them. John Cudsly, the
former partner of P. D. Armour, is ru-
mored as the leader in this anti-Partridge
to be prominent in it. Tonight it was
stated that they had Partridge short at e1-
ceptionally low prices on possibly fifteen
million bushels of wheat. The most con-
sentative estimate was seven million bush
els. To-day the wheat market opened very
strong at one cent per bushel advance
For an hour and a half one big wave of
excited buying followed another, until
something over 81 cents had been added to
the price current for May at the end of
yesterdays session and July in the same
equality with the May future. For a
quarter of an hour hundreds of thousands
of bushels were bought and sold at from
SO to $751;.
With marvellous nerve Partridge kept
his brokers busy jabbinss tens and TWEEN
ties of wheat into the crowd all around the
pit. He appeared in no way worried over
the big advance. Each effort of his brok-
ers appeared to goad a fresh advance.
Kaufman of St. Louis started to cover
about 200, 900 bushels, and the price rose
to 834. A bear panic ensued which was
added to by unfavorable crop news and
higher prices elsewhere. St. Louis
and New York covered q vast amount
short. There was heavy realization and
large short selling which sent the price
back to 824. Then it ruled irregular for
time. Shortly before the close there was
some remarkable buying which the traders
attributed to Partridge trying to cover.
This caused the widest scene of all and
the May price went from 83a to 841 in
few minutes. Some realizing put the
price of May at 84s at the close of the reg
ular session only to be followed by a sub
sequent big advance on the curb. Part
ridge fought the advance up to the last
hQr1r