The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-04-10
PARTRIDGE THE BEAR KING
In the Face of Threatened Ruin He Fed
The Wheat Market, Winning the Day.
Chicago Board Of Trade Galleries Packed with
Sight-Seers 10 Behold His AnnihilatiOn,
but lie Made the Bulls Run.
TRADING AT CHICAGO.
Wheat Closes Nearly 3 Cents Under the Tol
Price of the bay.

Price of the Day.
CHICAGO April "a holder plunge
was probably never witnessed in the Chi
cago wheat market than that made by Ed
ward Partridge to-day. Last night, with
estimated short sales of 100000 bushels
chalked up against him and with the quo
tations shooting skyward, every Jump IN
the price meaning q personal loss OF SlOO.
900. the odd little speculator was believed
to be about ready to- throw MP his hands in
despair. Tonight all was changed. Pard-
ridge was again a cOnquerOr. regiment
of brokers at his orders bad dashed into
the pit at the very outset of the day and
fought his enemies to a standstll. Before
the day ended he pulled down the price
over 3 cents q bushel from the highest
point reached. The close was within sc
OF the lowest price of the day.
PardrIdge in person was on the floor
bright and early. The galleries and pits
were crowded to suffocation in expectation
of seeing a cyclone when losing his nerve.
he should attempt to buy instead of sell.
The noted plunger was earnestly rushing
from one friend to another and making his
remarks jerky and emphatic. but that was
all the emotion he displayed. He denied
that ne had lost or would lose nickel, and
declared:
when lose lose for keeps. but / am
not worrying about loss just now. I'm feel
ing all right"
With that he again dove for the pit.
When approached at another opportunity
he alphabetically asserted that nothing
wonld drive INN to cover unless the mar
ket went To 81 q bushel.
The opening was the widest witnessed
for some time. and prices varied1 Sc within
the first few seconds In different parts OF
the crowd sales being made ut 1201h
over the closing figures of yesterday.
Bull news WAS plentiful and but for
Pardridge's bold tactics would have had
marked effect, for bear advices were scarce
indeed. The trade then seemed to he drift
ing mOre into July and the bad crop re-
ports were having good deal of influence.
as while May was lower July was decided
~ higher. A telegram from Kansas City
gave the information that the State
Agricultural department. of Missouri put
the condition OF the crop in that State at
%. heavy decrease from the outlook In
December.
PARTRIDGE HELD HIS NERVE.
Partridge. far from showing evidence of
weakening. was bustling about denounc-
ing the scare as idiotlc and had his brokers
selling necessarily. The bulk of the sales
at the opening were at S54c. The market
went off to SAC on Pardridge's selling. then
up to csc. held for q considerable time at
S41ic. then near noon shot up to s534c.
Here the demand fell off and the price went
to 4lsc. and at 12 o'clock was about S4al &C,
AGAINST siasc at the close yesterday. After
the noon hour the wheat market began to
weaken. The shorts seemed to be we'll
covered and tho 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 sup
port. and Partridge continued his smuggling
tactics, and when the break started longs
began to unload and the pyramids tumbled.
May went OFF quickly to S33ic. reacted
some and at / o'clock was s37sc. Then
some operators became very bold. declar-
ing that the Dodge estimate on wheat con-
dition will be So To IS per CENT. or better.
This was followed by such selling as caused
many to believe that some houses had in
side information from Washington. Cen
eral selling put the May price off to S2lsc
bid at the close. or 119c under the close last
night of the regular session, which was &c
under the later curb prices. 1t was report
ed that George Halnes, who traded In q
small way. had failed.
The corn market was not sympathizing
to any great extent with the advance In
wheat at the opening. but was in full ac-
cord with it oil the decline. The highest
price of the day was only isc above the
closing price of the day before, and its rest
ing price to-day was ut decline of Use.
May opened at 41asc. touched 4134c, sold
of 10 i0fsc. and closed at 4Olsc bid There
was both realizing of long corn and selling
short. Partridge was tree seller of July
and Cudahy for May.
Oats were active. and shot up to 30lsc for
May n rush of shorts to cover, but the
close 29Ac, was lsc under last nights clos
ing.
The provision trade was dull and the
market heavy. Outside interest which
yesterday was giving some signs of re-
awakening. was again cOnspicuOusfy alb
sent. Pork made it's best price ut the OPEN
lug. and had only recovered from 21ec TO
DC from its lowest point at the close. Lard
and ribs were equally as weak as pork.
Pork since yesterday is from lac to 1Oc
lower: ribs are of .O5c. and lard about the
same as ribs.
Tho estimated receipts for Monday are:
Sixty cars of wheat, 200 cars of corn. 1 5
cars of oats. and p 600 head of hogs. The
leadIng futures ranged as follows:
III. MI