Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-04-13

Checks and They al Went TO-
the Banks.
CHICAGO. April l2.-The most wildly
known bear specnlator In the grain
trade OF the world tonight acknowl-
edged himself beaten, II not ruined.
In an Interview tonight, laboring un-
der abnormal excitement. after an ex-
traordinary day on Change. Edward
Partridge talked wildly OF his loses
and revenges. declaring that his wife's
fortune and his real estate holdings
wonld yet enable him 20 recoup himself
and down the enemies who he admitted
bad pushed him 10 the wall In the great
May deal.
I'm dore up by my friends" said
Partridge, hysterically, "but I'll get
back at them. don't know what
have lost, but have two million dollars
worth Of real estate aud I'll bring IL all
up to The front II necessary. My wife
also has fortune and she will back me
up. shall stay right here on the floor
and give the crowd the racket II has
given me. They have danced 10 my
fddling before and can make them do
so again. But I'm done on this deal
Well begin again. tried TO get money
from my friends to-day but they refused
IL. had no ready cash and the game Is
up"
What do you think you have lostP
II cannot estimate. / don't know
how much wheat have or anything
about It'll don't know anything.
was banking on information my friends
gave me, and they deceived mo and |
lost. That Is the whole story"
The bull CLIQUE had started out after
Partridge bright and early this morn
ing. They resolved to drive him Into
corner and lift his scalp.
Last nights close was at s6A. The
FIRST sale this morning was at 90. In
two minutes II slumped TO s4 cents. and
in less than five minutes after that tho
bulls ran the price up 20 So cents. AT
noon II was huctuatlng between 50 aud
81 cents. Nervousness was faint de-
scription OF the state OF the market. a
| call for Is, 600 bushels would send tho
market up 10 the roof. A tradei~Gight
start ln TO buy at Sc and bo satisirS~&
capture his Elusive amount at two cents
advance and see the price the next min
ute below his original offering.
Partridge was early on the scene or
battle, and he was loaded with checks.
His friends say the amount was sufii-
eient 70 buy out six Of the biz firms. All
this money. OF course, was intended for
margins. These checks went TO banks
as soon as they opened, and their source
was undoubtedly the disposal OF stocks
and securities, holdings 10 various CON-
panlcs, ETC., that have been bought with
the proceeds Of deals manipulated by
the little bear.
IL was at this interesting juncture
that the wealthy pork packer and spec
ulAtor, John Cudahy, VINO is AZ the head
OF the clique aud It's controlling
spirit, appeared on the floor Par
drldge spied him and At once set sail la
his direction. lie made some sharp re-
mark 20 the packer which attracted the
attention OF others on tbs floor aud the
two spectators were Immediately sur
rounded. Partridge spoke earnestly 10
an undertone 10 Cudahy, but all the sat
isfactlon he received was:
81 told YOU 20 buy wheat. Ed"
With this Cudaby walked away.
After the unusual luctuatians OF the
session May wheat closed at s6jSc.--
within quarter OF q cent OF yester-
DAYS price. The range Of the day was
about cents.
With Pardridge's defeat there seems
TO be nothing 10 prevent the consumma-
ton OF the deal. The clique has made
friends OF dangerous enemies like Ar
mour, Counselman and others OF that
stripe. and by relieving many OF the big
concerns, who control the Northwest-l
ern trade, from liability, 10 the event
OF failure OF their principals 70 meet
losses, 1t has stilled noisy
opposition in influential quarters.
As to the identity OF the clique there ls
az much mystery as ever. Nobody 10
known IN the deal but John and Michael
Cudahy aud SANDY" Eggleston. but
few acquainted with the situation be-
Iieye that they are the principals.
| There IS a limit 70 the resources OF the
trio named, aud there IL apparently no
limit 10 the capital behind the deal.
The breaking Of Pardridge's power
draws attention 70 bis methods OF trad
ing, which Is now asserted have been
automatic 70 large degree. He was,
| chanically on every rally 10 the market.
| He hailed ordinary advances 10 price as
special dispeDsations OF Proyidenee Ia
| his favor as they enabled him 70 put
| out" or sell futures TO advantage. De
covered" or buys In property on tho
breaks, 50 that ia the ordinary swing or
q market his line got smaller on the
.'soft spots" and increased again on the
| bulges. by this almost automatic plan
OF trading he "niIked the market" ten
munths out OF the twelve, reaping large
profits. +. was onIy when be struck
| uhenomenal bull market that Pard-
ridges automatic system Of trading was
at fault. leading him into deep waters.
| His sales on the rallies continued ana
there were no breaks 70 let him out. 50
he added steadily 70 his line until before
be was aware of IL be was short al
amazing quantity. de seemed 70 be
almost entirely destitute Of fear; 20
much 20 a. 70 lead many 70 think that
he Is deficient In reasoning power. he
seemed 20 have no sente Of quantity
and would ss lief sell one million BUSH
! els a. one thousand.
| He had q narrow escape from bank
| ruptcy q Year ago. an opportune gov
ernment report being al that saved
| him.
That experience gave the plunger
shock and he played with comparative
moderation until about three months
go YAen haokeain took 20 plouging
with " vents - the gloomy