St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-04-10
ROUTED HIS ENEMIES.
Boldest Plunge in the History
of Speculation Made at
Chicago.
Nervy Little Edward Pard-
ridge Shows Clear Grit in
a Pinch.
Through Brokers He Fights
All His Opponents to a
StandStill.
Closing the Day ConQueper.
With the Price Of Wheat
Forced Down.

CHICAGO, April "a holder plunge wa
probably never witnessed in the Chicago
wheat trade than that made by Edward
Partridge Last night, with estimated short
sales of 100000 600 bushels chalkcd up against
him, with the quotations shooting skyward,
ana with every jump in the prize meaning
personal loss of 100000 the odd little spec
ulator was believed to be about ready to
throw up his hands in despair.
Tonight all was changed. Partridge was
again conqueror A regiment of brokers
at his orders had dashed INTO The PIT at the
very outset of the day and fought his enemies
to standstill. Before the day ended he
pulled down the price over &c bushel from
The highest point reached. The close was
within lsc of the lowest price of the day.
Partridge in person was on the floor bright
and early. The galleries and pits were crowd
ed to suffocation in expectation of seeing a
cyclone, when. losing his nerve he should
attempt to buy instead of sell. The noted
plunger was hastily rushing from one friend
TO another and making his remarks jerky and
emphatic but that was all the emotion he
displayed. He wore dark. natty frock coat.
light spring trousers. and small black derby
jauntily perched on the back OF his head
gave him crisp, business air.
His keen gray eyes were fully alive to what
was going on. Now and then his friends
wonld eagerly swarm around him to ask how
things were going, but Partridge was too
busy rushing from pit to pit TO talk with them
long, and would Touc few hurried re-
marks and tear himself away. He denied
that he had lost, or would lose. cent, and
declared: when lose lose for keeps, but
am not worrying about. loss just now. |
nm feeling all right, and with that he again
dove for the pit. When approached at an
other opportunity he emphatically asserted
that nothing would drive him to cover I'M
less the market went TO 81 bushel.
The days trade was spasmodic, and on the
whole not as heavy as yesterday. AT times
the market was very excited. at others quiet.
Fluctuations were rapid and violent and the
feeling was very unsettled. The opening
was the widest witnessed for some time. and
prices varied lac within the first few sec
Onds i'll different parts of the crowd. sales be-
ing made at l20Dll2c over the closing figures
of yesterday. Bull news was plentiful, and
but for Pardridges bold tactics would have
had marked effect for bear advices were
scarce indeed. Cables were decidedly firm,
Liverpool being quoted l@1I2d higher. and
London 9Ol0d higher; all domestic markets
were also on the rampage and made big
squirt at the start, and most of them held
well 10 the advance. st. Louis was pos
Slble exception, as while starting higher, it
finally went off on May to I5c below last
nights close. The trade then seemed to be
drifting more into July, and the bad crop re-
ports were having a good deal of influence,
as while May was lower July was decidedly
higher.
A telegram from Kansas City gave the in
formation that the state agricultural depart
ment of Missouri put the condition of the
crop in that state 69c n heavy decrease from
the outlook last December St.Louis. however.
reported that up 10 II o'clock nothing had
been heard OF the report there except
In the dispatches from Chicago. Wholly
aside from Partridge, this ana other news Of
like character kept the market nervous and
excited. story was started that Werst who
has travelled extensively over the winter
wheat country, estimated the average condi-
ton at lie. Welst himself denied this, but
Intellectually
Partridge meanwhile far from showing
evidences of weakening. was busting about
denouncing the scare as idiotic, and had his
brokers selling necessarily. The price did
not appear to make any difference, and all
SPOTS seemed good selling spots for him.
There was good deal of realizing on long
wheat. but these offerings, with those by
Partridge, were readily absorbed, and there
were Jew weak spots. Cold weather was re-
ported i'll the winter wheat country, and this
helped to give the market quite O. little
boom.
The bulk of the sales at the opening were
at S5Ac. The market went off to SIC on Pard-
ridges selling, then up to S5c. Held for
considerable time at S4S4c then near noon
shot up to S5S4c. But the demand fell off and
the price went down to S4SSc, and at ~
o'clock was about S4S4c, against S4Ssc at the
close yesterday. After the noon hour the
wheat market began TO weaken. The shorts
seemed to be well covered and the moment
the buying came to a halt the bears took
fresh courage and began to sell.
There seemed to be no one with courage
enough to extend any support, and Fard-
ridge continued his sluggiug tactics and
when the break started longs. began TO I'M
M IGa9 ,S and the me pyramids tumbied
reacted some and at 1 o'clock was
So7Sc. Then some operators became very
bold, declaring that the Dodge estimate on
wheat condition will be S30S5c better. This
was followed by such selling as caused many
to believe that some houses had inside infor-
nation from Washington. It any rate, the
Dodge puzzle was too uncertain to hold
May price off TO S27sc bid at the close, or 112c
under the close last night on the regular SEES
sion, which was &c under the later curb
prices.
1t was reported that George Haines. who
traded i'll small way, had failed. The bears
remarked that the bulls went cunning for
Partridge and caught Haines. A Partridge
broker retorted that this was better than they
usually did, as they have been cunning for
Partridge and caught the deuce.
The corn market was not sSmpathiZing to
any great extent with the advance in wheat
at the opening, but was in full accord with it
on the decline. The highest price of the day
was only lsc above the closing price of the
day before, and its resting price today was
at decline OF 1lsc; May opened at 4l58c and
touched 1880, sold off to 46sSc and closed at
4Ol2c bid. There was both realizing of long
corn and selling short. Partridge was a free
seller of July and Cudahy of May.
Oats we're active. and shot up to 3015c for
May on rush of shorts 10 cover, but the
close. 2911c, was lac under last night closing