The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1893-03-30


Cohee steady and tul0 points up Sugar lirm'
CHICAGO, March 29.-NOt since the famous
KeRhnw deal, the collapse OF which drove u
score VI firms Into bankruplry has there been
OF trade us took place to-day the price OF wheat
Tor May delivery broke TIC In about that many
minutes causing u CrnEe OF excitement In the
trading pit, Tie confusion and panic was SO
great rs 10 make II almost impossible TO trade
brokers' tumblcd over one another in thlur eager.
NESS to execute orders, aud fought their way
into the crowded pit u II eternal salvation de-
pended on their getting there. The audiences
OF the break was the most alarming fear. Wheat
opened nbont Sit this morning when the market
fell OIL, but reacted aud seemed as strong rs
Sampson before he yielded TO tue Establishments
0tDclilHh, II advanced steadily after the open
Ing to s!jic when some OF the big shorts Ike
Arthur Orr, Captain Phillips aud Ed Partridge
concluded 10 cover portion OF their llue. Al
the high price OF the day CudRhy, who Is re-
gArlGd by many US the king OF the bull clique,
doled ont OOl bushels 10 Orr, another Co.,
t0J to Phillips and about 2U0O,0O0 10 PuTdTdge,
giving il 10 Inc hungry shorts In lots OF IOO, wv
aud 10000 bushels
The offerings came so rapidly and III such un:
usual quantities that with the big shorts out Of
the way, the market appeared ~ II shot through
the heart, aud with u convulslve SILVER falling
dead in its tracks, One theory is that the big
break In prices was due IN part at least To the
fact TINT the bOard OF trade directors have de-
cided that storage emergency exists, Extra
lions are made and as necessity presents Itself,
The decision OF the directors was reached 'last
night but was not generally known until shortly
before the break came to-day The friends OF
tho bull clique, and many Others who We're not
posing as friends, scoiled al the idea that the
storage decision cut any particular figure In the
days operations
John and Michael CudAhy the rich pork
packers were suid to be at the head oil the bnll
Clique and many other wealthy Chicago and
New York capitalist, were named as associated
with them. They acquired, II IL stated, control
OF the II 100000 bushels Of contract wheat III
the elevators here and were prepared 70 pay for
much more II the people who have wheat 10
Minneapolis, Duluth, 81, Louis and other places,
could find storage room for that amount here.
Armour * Company aud other elevator owners
have been storing the bins OF corn and oats
and barley In their houses into the holds OF the
vessels III the river 10 make room for more
wheat, They were also chattering vessels IN
Milwaukee and elsewhere 70 come down here
aud receive some OF the grain they are Kidding
themselves Of
The storage capacity here ordinarily Is equal
10 about SUOOOUOJ bushels, On the advance
during the last few days TO S!tIc, the top figure
to-day, Il VRst amount OF short wheat was bought
In, and at the same time the "pyrnmld" build
ers bought like mad, piling up all their brokers
would stand. This class risk profits with reck'
less enthusiasm and they often bccomoa NEIL
ace TO the successful corner, as was tho case
when Harpor went broke trying To lug along
mountainous load OF tailor and pyramid"
wheat. This Is u danger that experienced cor
nerGrs" guard against by breaking the market
and shaking out tho t0ilors, To-day was an aus
piClous occasion for one OF those performances.
The May prices were>marked up close 10 Sc,
at which figure, il Is claimed. TINT Partridge
made private settlement direct with Cudahy's
brokers Tor 1000, 900 bushels, and private settle
ments were also made for an equally large guam
q Clique I brokers' supplied the demand and the
co. SSIoadeI great SiocEs Tho ESriet Went of
to Soc when II was discovered that Partridge
short Wheat, This was something the clique did
not want TO give tho bears chance 10 do until the
price got lower Five minutes later the pit
Swarmed with clique brokers' Twenty million
bushels were offered ut once The market broke
al onco, and at the bottom there was an over
towering Of long wheat: stop loss orders OF SOC
were executed at 76c. Instantly the clique
brokers changed front, and under the lead Of
Sf SW m HH V the CLIQUE had bought back all Of
added %I many U millions more 70 its holdings so
that at the close OF tho business 1t looked as II II
fore except that In the excitement great inter.
mediate interest had been violently eliminated
The hight from now out. II such proves 70 DC tn9
case, Will be direct between the principals Oh
each end Of The deal. =. =: a., a,..ao,
The shake out, II such II may DC regaEaeu;
was NAS VI hAAS bN'' NASsAsN p'Hy
sincc the days when Armour was active as 2
wheat manipulator IS asserted that ~ INC So Gu
lues' open interest in May Is sui 23uOo,VV 70
sOOOO OOO bushels besides Tue cash whess IL Is
.n ord ,,,ov,.,o,s ,vcro nil wcOk md
NV So s ~ Tost ,ari T "'' "'"A "A
'o Eion an" Iu ~ and ND i i nd uD''
WWEtT ENt; No SSrinp 74gla7SlIc: No Q
I'LL IL M ~ 1,J 71hto5i ~ AIapcE -t"7gi2
OgSiHSS Ma Nav III III 'Iniv TlSTiS
sSSslss ''"' /A"''|S'
Nav S,aIo i5il,tIiIc. inv iSISc.S
OATsHCash, No 2 2gJSU; NAV G0B Sa3la3OJ Nc;
June 8Qska8i lIa9O5Ec; July 3Oa9O5 Sa8OC.
RYE-No 3, 45c
BARLEY-No. 9, &c.
-FLAXsEED-Sl IL.
TIMoTiYsEED-si4
MESS PoRK-Cash SIT 10; May 81 22I$Hl7 621sa
II 2215; July ST. l5al7 5jal7 10. 80 ~, ,,.,o ~
LARn-Cash $40 IS; May $40 sO9ll 4oalO %;
July slO 65alO V1EalO G0i september SlV wa
nO2Lgal0 Oo 80 ~. -. oo ,-,,.
SlIolT klDs-Cash, ~ ~; May W 1oalOu0a9HH'