The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-21
PARTRIDGE SQUEEZED
THE CHICAGO BEAR FORCED TO
COVER MORE WHEAT AT Loss.
Another Gain of 1 lie i'm the Price of
May, with the Crowd sim Buying
Provisions Also Gained

CHICAGO, April 20.-Enormous coverings
by Partridge and other shorts sent wheat
up at dizzy gait again to-day The mar
ket gained about cents per bushel since
the close yesterday, and on the curb after
the close Of the session there was a ssrug-
gle for calls for Monday on May wheat at
from 61Ac to CSC. Corn had somewhat
similar experience with wheat, and rose
1Ssc per bushel, and oats gained &c. Pro-
visions ruled dull but firm, and made mod
crate gains.
Wheat opened with surprising strength
The fact that Partridge had covered be-
tween 100000 and 100000 bushels of shorts
yesterday did not prevent people in the
country from sitting up to send night mes
sages TO buy wheat at the opening this
morning, The pit appeared to be full of
buying orders at the start, and instead of
sellers of May at 5SlsG5S34c, as at the close
OF yesterdays session there were buyers at
5sl3c. Under such conditions of the local
holdings an excited advance in the first
half hour was unavoidable. The demand
Tor July was the most urgent 1t closed
yesterday at 59isc, and in less than twenty
minutes it was bringing 6Ol9c, comparing
that with 56Ac, which it sold at on Monday
last showing that the market is doing
quite well. Partridge & Leerning whose
principal customer is Ed Partridge, bought
freely of July; ROsenkranZ, stood out
on his short wheat through yesterdays
lazzise, came in tins morning and some buy
ing IN of wheat on account of what they
mad bought of Partridge was done by two
or three houses with whom Spectator
in question had been slow In putting up
margins. The local speculative conditions
We're the chief factors in the market; The
principal item is that practically all the
available wheat east of the Rockies is in
Chicago and the daily accruing evidence
that it is needed for export and home con-
sumption, with domestic and foreign mill
ers IN open competition for it, the posi-
bilities ON that account alone are not a
weeks exports were 3,165 600 bushels from
both coasts, compared with $4,000 bushels
ceipts for the day were 205,000 bushels
against 100000 bushels year ago. Country
hnr t bought opooo PTsnsts no RED
ers in the pit were woefully deceived in
the course of the market after its first lively
advance to 59ssc for May and 6O1a for July.
In the last twenty minutes of the session
the excitement was redoubled. May rose to
60c and July to Gle and those were the
The corn market was also all torn up
by the distracted condition of the shorts.
local short, and commenced early in the
day to buy in short corn st. Louis fol-
added to limited offerings, the market be-
came very active and the price shot up ex-
ctedly and closed with May at 471sc and
Oats developed considerable activity and
a heavy business was transacted Prices
closed at the high points of the day. The
advance was principally the result of a
scare among shorts and buying was heavy
by all. Wheat and corn showed such ex-
IRENE strength they were very influential in
marking out the course of oats, although
the firmness was principally independent.
May sold from 2SBc to 283s@281ac, up to
291sc, and closed there July started at
271zc, sold up to 2Ss4c, and rested at that
price. sffU ia
Provisions were firm but comparatively
steady. At the close May pork had gained
sc and ribs 021sc; Lard was practically
unchanged. The hog receipts were 7000.
For next week 100 COG are expected. The
strength came from the light hog receipts
and the advance in grain.
Estimates for Monday--Wheat, 40 cars;
corn. 220 cars; oats, $50 cars; hogs 10000.
Leading futures ranged as follows: