The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-04-12
BOW DOWN TO PARTRIDGE
The Daring Chicago Spectator Slug
ged the Wheat Market 5 Cents.
Packed Galleries of Women and Men Give
Way 10 Enthusiasm, and Wildly Cheer the
Man Who Cleared $500 ,00G on the Day.
TRADING AT CHICAGO.

The May Future Rose S5l2c, but Was
Beaten Down to SOl2c Mt the Close.
CHICAGO, April 1.-The world seemed
to turn its axis to-day for tae sole benefit
of one man-Edward Partridge of Chicago
News. worth to him hundreds OF thousands.
flashed in from London. from Washington.
even from the PARKWAY ports of the Black
sea, and after day of widest excitement
on Change the famous piunger, impassive
as stone, stood on the floor of the Board OF
Trade receiving the frantic congratuia-
tions of his brokers. informing him that be
was richer by at least half q million
dollars and that, acting for him. they
had pounded down the price OF
wheat sc on every bushel. His enemies
who, it WAS said. had formed o sort OF
combination o few days ago to compass
his ruin were not only made heavy losers
and put to utter rout. The galleries OF the
trading ha II throughout the day were
damned with siRht-seers, including many
prominent women. all eager to pick out OF
the jostllng. yelling crowd below, the man
all the turmoil. Pardridges manner was
much calmcr than Saturday, and it was
evident. Judging from the expression OF
those keen gray eyes. that Ms plans were
more settled and better formulated. Inc
scene during the latter part III he session
was the most exciting that has been wit
messed in many o day. From ooh3c May
wheat dropped by big jumps to SO1sc. ana
finally closed at S0l3c. This is 2ssc below
the close Saturday night. Partridge was
the heaviest buyer and seller, and ap-
parently must have made pot OF money
out of his scalping deals. During the hnal
moments the excitement was at eucn
pitch that the spectators In the galleries.
m Of hafr faa N nj
with the brokers at every slump in the
market.
HOW THE BULLS RAN.
The first disappointment to the bulls was
the ca bles re porting the course of the foreign
markets. New York and st. Louis OPP
orators sold heavily, while there was also
a large amount of local longs who seemed
to despair. Under concentrated seiing
there was an irregular break of &c on May.
The disappointment in tho visible supply
statement also proved weakening fact0r
Early it was thought there would be de-
crease of half a million bushels. but when
the figures were complete it really showed
q decrease of 141 900 bushels. This COM
pIetely unnerved the bulls and there was q
quick collapse.
The price of May wheat started strong
to S5l9c; then broke and during the last
fifteen minutes of the session fell to SOS c.
or thereabout at the close. A reported
London failure had marked influence.
Then q rumor w as circulated that Russia
prOhibtory movement would be removed
and there was some mention made.of the
anti-option bill being favOrably reported
TO Congress- from the committee. Brad
| streets report of the worlds available sup
ply being 143 OOO.0 600 bushels excess against
~, 900 bushels Q year ago was also made
use of by the bears, helping the decline.
"How do you feel Mr.. Pardridge?" aske d
q reporter of the bold trader after the pam
demonium at the wind up.
Lovely; lovely" was the Laughing an
swer, accompanied by O merry twinkle of
the eye.
The corn market was not active after the
first hour. There was good support even
when wheat was demOralized. Tho open.
ing was strong with everything else on the
putting the May 7sc over the close Satur-
day. The selling which followed, helped
on by elevator men. together with the
break in wheat. simply put the price back
this market continues light Receipts
Oats advanced early with wheat and
corn. but weakened later on with those
cereals and closed about steady at Satur-
1t was dull day in the provision pit
Fluctuations were over o narrow range.
and in the end prices were slightly lower
for pork and no higher for lard and ribs
| than at the end of SATURDAYS session.
Cash sales of 100, 900 bushels ordinary No.
2 spring wheat were reported hero to-day
| at lec over the price for May. and 10000
bushels hard spring at 2l9c premium. The
estimated receipts for tomorrow are:
Wheat. IS cars: corn. $50 cars; oats. 100 cars.
| and 10000 head of hogs. Shippers were bid.
ding &c on wheat to Buffalo. while vessel
men were holding out for 2hc. A large
fleet was on the market. The leading
| futures ranged as follows: