St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-04-12
Ed Partridge Subjected to a
Squeeze by the Bull
Wheat Clique.
His Losses So Far Reported
to Have Amounted to
$750,000.
Beside, He Is in Danger Of
Dropping 100000
More.
For Once the Great Plunger
Was a Mueh-Rattled
Individual.

CHICAGO, April 1.-THE bull clique
in the wheat market were after big
game today, and they bagged some of
it. The famous piunger, Edward Par
bridge, seemed to be the person aimed
at, and he was crowded numerically.
Psrdridge was found TO be slow to re-
SpOnd to calls for margins. which bro
kerS with whom he had deal show
ered upon him, and forthwith the brok-
erS bought in lot of Pardridge's wheat
in the pit. The scene in the pit was
very wild while the brokers were buy
ing in the big plunger's wheat. Mean
while Partridge was not idle. John
Cudahy is the Ostensible head of the
bull clique, and Partridge sent an am
basSador to him to his office in the
Ratio building, suing for terms. He
was accorded a settlement on from
100000 10 100000 bushels of May
wheat, it is said, at 81 cents per buShel,
which settlement, it is thought, leaves
Partridge poorer man by about $780,
eco than he was before.
The excitement. though intense, was
not what usually attends big jump of
four cents per bushel in the market.
Nobody had any May wheat for sale
excepting the clique. The crowd were
generally out of it, and were determined
to keep out. They were
Afraid of the stuff;
they said. They confined their atten-
ton 10 July wheat, and sawed the mar
ket for that delivery up and down about
II cents per bushel. AS soon as
Partridge had made the private settle
ment the manipulatOrs let the price
drop three cents. But Partridge is not
out OF the woods yet. He is understood
TO be still short OF enough TO lose him
another 81 100000 beside his losses Of
today. lie sold about 5000 shares Of
West Chicago street railroad stock to
help HIM pay tOday'S losses. He was in
extremely bad humor, and told the news
paper reporters who piled him with
questions TO mind their own business.
He could attend to his, he said. For
once. it is SAID. Partridge was very
much ratified individual. He was led
from his house this morning by his two
sons, and one or the other OF the boys
was at bis elbow every minute Of the
exciting scenes of the session. His con-
ditiOn was such that his friends kept
him Off the floor of the exchange, but
the financial eXiaencieS of the occasion
made frequent visits to the banks in the
vicinity OF the board of trade necessary.
and his frequent pilgrimageS were
watched by the curious crowds of boys
and men.
One of the traders who is reported to
have most remorseleSsly called margins
on Partridge was L. j. Ryan, the packer.
Ryan
Was in the Gap
for $4,000 bushels. and, as he had no
reason to expect consideration at the
hands Of the CudahyS, he took adyan-
tage Of his principals tPardridge'S)
slow response to margin call to close
him out, thus escaping further risk of
loss, and also the chance of getting into
the clutches Of men who had it in for
him on account of a legal fight COM
menced by him to escape responsibility
on that LOCO, 00)-pOund rib deal. Since
Partridge got his full line out, tine mar
ket had advanced II cents buSlel. He
has most of his trades margined up to
81 to 50 cents, and was today putting
forth tremendous efforts to get into DO
sition to further protect his interests.
In this connection reports became cur
rent this afternoon, bearing on the IN
tentions of the clique, and illustrating
the caSt-irOn grip 1t seemingly has on
the situation. 1t is to the effect that
the CudahyS have been making arrange
ments with commission and elevator
houses having the bulk of the North
western trade TO take the trades on their
books direct aud let them out of the
gap. That is to say. if the Northwest
ern principals who have wheat sold to
the Clique do not make good the full diff
ferenceS, the commission firm through
which they do their trading will not be
held for the loss. This policy is said TO
have been suggested by Michael Cud-
ahy, the manlpulativebrains of the COM
bination, and the effect of it would be
to convert very powerful element on
the board Of trade from a state of op-
position which
Night ZEE Fatal