The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1893-05-10
PARTRIDGE DIPS IN
And Turns a Heavy Buyer in the
Wheat Pit.

CHICAGO, Nav S.-There was an enor-
nous business done in wheat today from
to 13c advance on Saturdays closing
prices. Partridge took large amount on
the strength of the news, both foreign and
domestic, and took in short wheat whole
sale. One estimate puts his days pur-
chases at from 100000 TO 100000 ou
through his own house and other brokers.
Cudahy was a big seller of September
wheat and " Z. Ream, Singer and Champ
lin fed July out lavishly. LeeminV, OF
Partridge q Leeming, was surrounded by
q crowd of brokers just after the session
was officially closed and raked in their
offerings in 5000 bu and 5000 bu lots at
the price given as the closing quotation,
7Ssc, which is &c higher than the latest
price Saturday. Corn was heavy and closed
at decline of / lc for July. Provisions
were very strong on light business.
The wheat shorts seems thoroughly
frightened and investment buying was
quite pronounced. Cables all came
higher and domestic markets were all
strong; crop conditions abroad were rep
resented as growing worse from day to
day, and the Kansas state report seemed
10 confirm all the gloomy reports hereto
fore received from that region and indi-
Gated a crop OF less than thirty million
bushels against II 100000 bushels last
year. The bullish sentiment has been
growing for some days, and the temper OF
the trade was in the proper condition to
be easily influenced by these reports and
Notwithstanding the better financial feel
ing in Wall-st and reports OF warmer
and better weather in the Northwest.
prices made big jump. Later.
rains were reported in France and
in Hungary, and there was gen
erous realizing which sent prices
of nearly lie but the feeling kept nervous.
The big decrease in the visible and strong
continental cables acted as a check to the
decline. The tone at the close was easy.
The opening was about bGolsc higher
than SATURDAYS closing, advanced DC
more then declined lie. fluctuated and
closed about ic higher than Saturday for
July and &c higher for September. The de-
cline in corn was largely due to continued
free realizing The tone at tho start was
firm and initial trades were at about Sat-
urday's final quotations but the large sell
ers OF Saturday again disposed of large
worked Up &c, ruled weak and closed with
decline of l@l!c. Receivers were also on
the selling side Offering in the interior, it
is reported, increasing considerable OF
late. The weather while wet In many
portions of the corn belt, was warmer
and crop conditions were said 10 be more
favorable. There was a fair trade and
weaker market almost from the start in
oats. the early prices being the highest
and the closing about the lowest with
net loss of 8@19c. May declined &c, June
lie. July ic and September lie from the
top figures. The decline was due to IN
creased selling by parties who were best
buyers and q 80 to sympathy with corn
and to larger receipts. Provisions were
primarily excited and higher on the
steady advance of live hogs at the yards,
but really from the fact that mess pork
for September delivery is TO all intents and
purposes held by few parties. 1t is said
there are only a few scattering shorts"
principally among the local crowd and
every time there is an attempt 10 buy
the market is forced up. The extreme
advance brought out some realizing or
ders and the market sagRed moderately
1t then ruled steady and quiet for time.
On some selling by prominent operator
the market declined and nearly all the
early gain was lost. AS soon. however, as
the offerings became scarce, the market
rallied to the early outside price and ruled
strong and higher, then dropped, and
closed weak with little more than half
the early advantage lost. The final prices
compared with the close Saturday. show a
gain of 57Ic for September pork. 30c for
September lard and l73c fer September
ribs
Freiohts were dull. the hulk of the busi-
ness being done by the line boats. Rates
remained unchanged at ] &c for wheat and
1c for corn 10 Buffalo.
Estimated receipts for tomorrow:
Wheat, $40 cars; corn, lS5 cara; oats, 325
cars; hogs, 10000 head.
The leading futures ranged as follows: