The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-04-14
CLIQUE OF BULLS
No Mercy Shown Either Shorts or Longs
Who Speculate in May Wheat.
After Putting Up the Price to 80 Cents the
Clique Let 1t Drop to S0-Fardridge Ex.
pects o Million from His Wife.

CHICAGO, April 13.-May wheat sold down
to so cents bushel to-day. break of 10
cents from yesterdays high point. The
OF men standing on the thin crust of a vol
cano. They were not quite sure whether
they were going to be blown sky high or
whether they were going to drop to the
center of the earth. To many it looked as
though the now celebrated bull clique had
abandoned the deal This theory is not
generally entertained on the Board of
Trade, however. There the opinion pre-
vailed that the element OF the trade eom-
monty called tailed" who bought wheat
yesterday in tho belief that the clique was
going to force all shorts to the
wall right away, were to-day made
the olique's latest prey by the
quick decline. Another object of letting
down the price was thought to be to en-
courage the shorts to respond to margin
calls moro freely than they have been
dong for two or three days. The deal. it
il asserted. is being run IN absolute cold
blood. and the determination to get every
dollar out of it that can be obtained.
Il
the price mp to 81 bushel and breaking
shorts Wholesale. besides tying up lot of
money for commission firms for an IN
definite period, but there would have been
no cash profit in such move. 1t is the
coin the clique men are after. By putting
the price mp to 80 cents an excuse was
afforded for 10 per cent. margin calls above
that quotation. To keep the price would
be to attract q mass of cash wheat here.
which must be taken and paid for by the
clique.
Pardridge was decidedly q lay figure TO-
day. He was Quoted as saying that as soon
as his wife returned from California he
will have anothe4 S1.0000 900 in cash ct his
disposal. He has teleRraphed for her.
Those who are best acquainted with the in.
side situation say that Mrs. Pardridge will
never pnt her signature to- paper involv-
ing dollars worth Of the 81. GOO. 900 real es-
tate standing In her name. but the clique
seems to be willing to give him o chance TO
raise all the cash he can scrape together,
evidently acting on the theory that the
more he puts up the more it will get. In
confirmation of the theory that the plunger
will get no financial relief from his better
half, the story is told that she made him
pledge himself not to speculate in o line of
given charge of his bank account and
check book to prevent violation of the
agreement Several times since she has
called him down, on reports from the son,
but the willy speculator seems to have
found means to operate eyond the limit In
violation of the pledge. If his wife helps
him out now she will disappOint the ex pee
tations of some of those who know her.
The prediction is made that the wife Will
take care that he is provided with lunch
Ger rain May wheat may 90 to $50 peck
and Mrs. Partridge and the children will
not suffer.
To-day's volume of trade In May was
comparatively small and none of the big
shorts we're allowed to cover. When they
wanted to buy there was no wheat for sale
The source OF supply apparently dried mp.
The erratic course OF May operated to dis
courage trading in July. and the market
eased off 34c, though the crop news was
the clique and Ruessing who Is behind it.
Trails. it Is said, lead to Drexel, Morgan IL
Co. and there stop. Who the power be.
hind the throne is no one pretends to
know for an absolute certainty. though.
Notwithstanding denials. James r. Keene
is the figure toward whom suspicion is
pointed with much plausibillty.
a rather strange coincidence is the fac {
that e. j. Kershaw is In the city to-day,
He Is the man who was ono of the principal
brokers in the big Harper wheat deal in
1887. and occupied the same position that
the Cudahys do IN the present operation.
This is the first time he has been back since
then. and it Is esid that the similarity of
the process 10 what brought him hero, and
that be might put q finger In the May deal.
Just for old acquaintance sake.
G. A. Plllsbury, who arrived from Mime
apolis. made several trips between the
offices of his brokers and John Cudahy's
Office to-day. 1t is reported that he was
and that he had NOT brought money enough
with him and had to make big sterling
draft on his English partners.
The Trade Bulletin this evening contains
the following sarcastic paragraph: 1T is
rumored that some of the principal su ~
porters of the anti-option bill walked up to
the captains Office and settled up their
May wheat contracts at q handsome loss.
Evidently the bill did not pass, and the
friends of the farmer did not realize from
the anticipated depression"
A rumor was developed that Armour had
come to PardridRe's relief. When asked If
Armour bad come to his assistance. Mr..
Partridge said: IL am not going to saw
any thing about that. Most Of my wheat is
msrRined up to 81. got the money with
out going to my real estate. OF course, l
am not going 20 say where" Jt Is said
Pardridge did some tall hustling between
the close of the exchange yesterday and
sundown, making private settlements with
Eggleston and others for nearly two
million bushels. and releasing considerable
money which be could use this morning.
This additional cash enabled him TO make
good all calls on the option trades. and