The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1893-04-13
PARpRipos plNcHEp.



ehs Wall.
CHICAGO. April i2.-Ths most widely
known hear speculatoe In the grain trade
OF the world, tonight acknowledged him
self beaten, u not ruined. In an Inter.
view, Edward Partridge talked wildly Of
his losses and Of revenge, declaring that
bis wife's fortune and bis real estate
would yet enable him to recoup himself
aud down the enemies who, hs admitted,
pushed him TO the wall in the great May
wheat deal to-day.
CHICAGO. April t2.-The threat Of d .
bushcl Tor May wheat seemed about 10 he
realized to-day. Amid intense excitement
the price suddenly shot up over cents ON
top Of the recent heavy advance OF nearly
i2 cents. From 10 ccnts, however, there
was sudden sheer drop OF 8 cents, fol-
lowed b. rapid rebound Of 3 conts. The
whole trade seemetl TO feel that tho fate
Of the great plunesr, Ed Partridge, hung
In the balance.
Tho feeling Of nervousness and anxiety
was widespread. lie covered his snor.
nous short sales heavily yesterday, and
opening to-day found every one who had
dealings with him calling him heavily for
marRains away beyond the market. His
position was supposed TO be weakened by
sdvancss In July. ~ he was suspected of
being short . lot Of that month also.
II 10 said he has been turning securities
into money In largo amounts for week
IN anticipation Of . squeeze, but his need
for ready cash had to-day apparently only
fairly begun. Everything seemed to be
conspiring with the big bull clique. headed
by the multi-millionaire pork packers and
speculators, Michael and John Cudahy, to
make life burden to the big bear.
Tho weekly weather crop bulletins werc
unfavorable 10 wheat. NotwithstandiinR
the widespread storms In tho west. tho
Kansas drouth seemed practically un-
broken. Correspondents wired: "No Inn
provement In wheat; not question OF
weather; damage already DONE" With .
terrific roar May opened at 90. an advonco
over last night OF 81.
Il was supposed this would bring tile b,e
plungcr down. but no was apparently still
in tho ring by . large majority, and the
clique, seeing its mistake. began pounding
the market with heavy offerings by one Of
the host known clique br okcrs, Linn, and
inside Of five minutes the quotation was 81.
A series of wild fluctuations between
that figure and 10 followed I'LL excitement
exhausted itself, and at tho end Of tho
first hour the market was comparatively
steady, q cents under opening figures,
though another uphsaval was looked for
at any moment.
Tho bull game WINS evidently 10 make
heavy marquis necessary. Though disin-
clined 10 take much wheat mt the highest
figure, Partridge was on tho floor Direct
ing the operations Of his brokers in per
son and evidently unrufied. He hung
.his Narpoaiti0n> >haat bea,shl
In souusDly which hs sold yesterday a q
proo4 - . ceue OF more per bushel, thus
executing . neat flank movement. Hi
apparent mastery Of the situation elected
the admiration even Of those opposed to
him.
Amer 10: I'D there Was little or no trading
In May o. July wheat.
After the usual fluctuations of the sss-
sion. May wheat closed at esH cents,
within ons-quartsP OF . cent Of yester'
days psices. Tbs range during the day
was about cents. With Pardritlee's de.
feat accomplished, there seems 10 be moth.
ing TO prevent tho consummation OF the
deal. Az 70 the Identity u the clique
there is - much mystery as ever. Nobody
10 known to bs In II but John and Michael
Cudahy aud ''Sandy" Eaeleston. Hut few
acquainted with the situation believe that
these arc the principals.