The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1893-04-19
The CHICAGO WHEAT MARKET.

CHICAGO, April 1S-May wheat seemed
to be trying to bury itself today. The
price slid down nearly . cents, in addition
to the recent heavy breaks. July scarcely
Judged. Rain in Kansas, with more in
prospect, and large local receipts, with an
unusual amount of contract grade, were
the chief beariSh factors in sight Trad
ing was only fair ana was general in char
acter.
Local speculators-those who partici-
pated in the recent wheat battle and those
who simply looked on-are now sitting
down with paper and pencil and trying TO
figure out how the armies lay and who
holds the strategetical position. The
problem is m algebraic one in several un-
known quantities, the least known of
which are Pardridge's losses and Cudahy's
gains. The solution asked is: Who viii
be the final and heaviest loser?
Everyone who has watched the present
May wheat deal and its manipulations
knows that Ell Pardridge is loser, and the
short-end plunger admits il himself.
With the turn of the market those vino
like to figure on possible contingencies
put down the gains 30 the trio of Cudahys
on net settlement from the short side at
something over 81, coo, 600 None Of these
rencilerS care TO be accurate. for they can
not be. There is 10 chance to get
at the books OF the whip-hand, aud
the folks with the deficit side
to their accounts are not publishing their
losses. Now comes the real problem OF
the hour. Can the Cudahys and he rep
reseutatives of the clique pocket these net
gains without incurrluS liabilities that
Will eat mp what has been made, and make
them vince with loss to themselves?
Can they and will they carry the May deal
still further, and if they do, viii they
make or lose money? Opinion j. about
equally divided, and this same diversity
makes bulls aud bears out OF humanity
Ia the faction which says that the bull
contingent * bound 10 pocket a loss, the
statement that the Cudahy boys will have
10 lose y, G00 OG0 is a common one. TO bear
this out Is ATmour's big elevator and his
refusal TO settle. rather than which. he
viii tender wheat. Another factor which
many say will operate against the bu!!
contingent, Is that the banks are inclined
to Tight shy OF loanIug any more money on
wheat. They are not inclined 10 tie IN
wheat which is TO be held in Chicago
10 help run q corner. They want 10
see the wheat move n the
regular commercial channels. These aforc-
said commercial channels Will not accept
wheat 2t the recent artificial prices that
have ruled here. The clique have had TO
| let up on last week : advance TO keep the
country from q still further ffoodiu. IF
this market II the deal finally fzzles.
the loss TO the CuGalys VIII To- biz On
cash wheat, for no market 10 the east or
IN Europe viii take Chicago No. > wheat
at over ) cents a bGsAel under tie price
( At which July Is now selling
II -heClICue sold their cash wheat at
the prices prevailing during tie last two
weeks FOR July they could not do 80 with
out a loss OF from > 10 : cents a busEeI
but IL appears today that they are getting
the prices q the two deliveries, May ana
| July. nearer together. LesiIimate!y Julv
/ should D. to 3 cents higher taan MAY.
! owing 10 the Necessity Tor storage charges.
| insurance and interest So maa5 argue
that the clique l. bound 10 sustain a l.ss.
/ Tor they have 30 means outside OF holding
wheat.