The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-04-13
WHEAT BEARS RUIN.
Partridge, Chicago Plunger,
Smashed by Bulls
cUDAHvs BROKE HIM.
QreeaAas's Report - the whisky trust
Mere Capital Observation-Disclosures
n Clayton Murder Case.

CHICAGO, April 1.-THE most widely
known bear Spectator IN the grain trade
of the world tonight acknowledges him
self beaten II not ruined. In the inter
view Edward Partridge talked wildly Of
his losses and Of revenge, declaring that
his wife's fortune and his real estate would
yet enable him to redeem himself and
down the enemies who he admitted had
pushed him to the wall in the great May
wheat DEAL
There were scenes Of wild excitement on
the board Of trade when the movement be.
gan to boom May wheat to 81 . bushel
The whole trade seemed to feel that the
fate Of the great plunger, Ed Partridge.
hung In the balance, and the feeling Of
nervousness and anxiety was widespread.
He covered his enormous short sales heav.
lily yesterday. and the opening today
found every one who had deal
ings with him calling on him
heavily for margins away beyond the
market His position was supposed
to be weakened by advances in July, a. he
was suspected OF being short lot Of that
month also. It 10 said that he had been
turning securities into money in large
amounts for . week, in anticipation Of .
squeeze, but his need for ready cash had
today apparently only fairly begun. Every
thing seemed to be conspiring with the
big bull clique. headed by the multi
millionaire pork packers and spectators,
Michael and John Cudahy. to make life .
burden to the big bear. Weekly weather
crop bulletins unfAvorable to wheat con-
tinued, and notwithstanding the vide
spread storms in West Kansas, showed
~ hA
broken. Correspondents wired: "No1m-
of weather, for the damage il already
DONE"
With . terrific roar May opened to 90
cents, an advance over night of 81 cents.
1t was supposed that this would bring the
plunger down, but he was apparently still
in the ring by large majority, and the
clique seeing lts mistake. began pounding
the market with heavy offerings of one of
the best known clique brokers. Linn, and
inside of five minutes the quotation was
"a cents. A series of wild fluctuations be-
tween that figure and 80 cents followed,
until the excitement had exhausted ITSELF
At the end Of the first hour the market
was comparatively steady, 6 cents under
the opening figures, though another up.
heaval was looked for at any moment.
The bull game evidently was to make heavy
margins necessary. though dis,nclined
to take much wheat at the highest
figures. Partridge was on the floor di-
recting the operations of his brokers
in person. and evidently unruffled. He
hung stubbornly to his May position, but
bought in some July. which he sold yes
terday ct profit of cent or moro q
bushel, thus executing . clever flank
movement. and his apparent mastery Of
the situation elected the admiration even
Of those opposed to him.
After unusual fluctuations May wheat
closed at 06H cents. within u cent of yes
terday's price. The range during the day
was about cents. With Fardridge's de.
feat there seems to DO nothing to prevent
contamination Of the deal. As to the
identity Of the clique there is 20 much
mystery as ever. Nobody is known in it
but John and Michael Cudahy and
SANDY" Egelston. But few acquainted
with the situation believe that these are
the principals.