St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-04-13
PARTRIDGE MADE HAY
Weakness in the Wheat Pit
Proved Sunshine for His
Purpose.
After a Day OF Steady Buying
He Announces Himself
as Safe.
Bulls We're Entirely Lacking
in Life and News Was Bad
for Wheat.
New York Stock Market Was
as Near a Standstill as
Possible.

CHICAGO April l2.-Dead as Creased beef
was the condition today OF the bulls in the
wheat trade. While all the hullabaloo wa,
out Of the pit Mr.. Partridge. instead Of rails
| ing another hurricane By attempting 10 break
the price to his fayorite rs cents a Dushei,
took advantage Of the prevailing weakness
and purchased steadily from morn till dewy
eve. Tonight he proclaimed that he was safe
entirely out of the way of the bulls.
All the news seemed unfayorable for the
friends Of wheat Cables were heavy and
lower. domestic markets were tending down
ward, the export business was meager, and
the amount of wheat and -four showed al
increase during the last week of $4,000 bu.
The exports from India were nearly % per
cent larger than The week preyious-oT go,
600 bu. against $4,000 bu-and the shipments
from all parts of the world to Europe were
$4,000 bu last week against 4,730.OOO bu the
week previous. Long wheat came out freely,
and for time there was very little demand
and though early deals OF May were at some
advance over last nights close, with sales as
high as sO1sc, the market was gradually
houeycombed with weakness. and u did not
take long 10 get the price down TO 7Jl2c for
May and 7Ds4e for July.
The more the government crop report was
discussed the stronger became the convic-
ton In good many minds that II is by no
II undoubtedly indicates a smaller crop than
lastyeaT by possibly lOJ. 100000 bu. but they
also contend that the crop last year was 100.
q O.WO bu larger than could well be disposed
OF, even with the bad condition in Europe
and the withdrawal of Russ from the list
OF exporting countries, as shown by the I'M
usual IL not unprecedented amount Sill I'M
sold. The coming crop, these people con
tend, with the amount 10 be carried over
from the old crop Will give as much as we
been
season, while the prospect IS that Europe
viii not want near as much.
After the market got down TO 79l2c
there was some reaction, mainly on generous
covering by the crowd which sold short yes
lerday and this morning, and there was u
reaction 10 S0Ac but II did not hold. and
soon went bacK 10 79S4c. Partridge turned
big buyer at SOC ana below. and undoubt-
eddy covered a big portion of mis- short line.
IL was the general impression that he was
disposed to even up. The English markets
were not only quoted lower. but the dis
patches from there indicated that the feeling
approached demoralizatiou and that lower
prices were expected.
Al T. O clock May wheat was ABOUT 50 Isc.
During the last half hour May wheat sold up
TO 80 Sc, but sparingly at that time and soon
sold of again, going 10 I076c. The close was
79s4c, or s4c under the final figures of yester
day. Some private cables today asserted
that British markets will look for coEsign-
ments of Argentine wheat after the May de
liveries OF American grain
There were any number of crop messages,
and they were very conflicting Illinois
points generally reported Improvement
growing weather developed much dam
age done by the late hard weather
in Kansas fields. Thompson of Duluth,
wired that the outlook for the spring crop
was never poorer at this season OF the year.
The dispatches also reported such excess or
moisture in the Red river country will be u
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 rel
atively weaker than July. the former closing
with decline of lee and the latter virtually
at the same price as on the day before.
In oats the offerings were more liberal
Wheat ana corn were lower, but ON the
declines there was good buying and prices
rallied slightly from the inside.
Receipts were 22l cars, and overran the es-
Inmates. May and June closed with loss
compared with yesterday OF Ss6G5sc.
The market for provisions closed SHADE
lower and consisted only in the main of
transactions between Il prominent operator
who was selling and leading packing house
The opening was steady, but the market fell
off, in response 10 the weakness in wheat
and then fluetuated with IL. There was con-
siderable changing over from May To- July by
the country at l2I2c difference i'll favor
of the latter The reason for TIE narrow
ness of the carrying charges as compared
with year ago. when it was 4Oe, is said TO
be that there is large short interest out. The
main cause for the weakness in this market
is claimed TO be general feeling that the re-
ceipis Of live hogs from now until the end of
May will be quite large.
There was fair demand for vessel room
and very light offerings. Rates were &c fol
wheat and lac for corn TO Buffalo. The
estimated receipts for tomorrow are 90 cars of
wheat, $50 cars of com, no cars of oats and
q, COO head of hogs.
The leading futures ranged as follows: