The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-22
PARTRIDGE SQUEEZED
THE CHICAGO BEAR FORCED TO
COVER MORE WHEAT AT A Loss.
May, with the Crowd sim Buying
PrOvisfons 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 strug-
gle for calls for Monday on May wheat at
from 61Ac to 63c. 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 10000 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 5SlsQ5SAc, as at the close
of yesterdays session there were buyers at
5Si2c. Under such conditions of the local
holdings an excited advance in the first
half hour was unavoidable. The demand
for July was the most urgent. 1t closed
yesterday at 591sc, and in less than twenty
minutes it was bringing 6o1Ac, comparing
that with 56Ac, which it sold at on Monday
last. showing that the market is doing
quite well. Partridge e. Leeming whose
principal customer is Ed Partridge, bought
freely OF July; Rosenkranz VINO stood out
on his short wheat through yesterday
razzie, came In this morning and some buy
ing IN or wheat on account of what they
had bought of Partridge was done by two
or three houses with whom ms speculator
IN question had been slow liz putting up
margins. The local speculative conditions
were the chief factors in the market. The
available wheat east of the Rockies is in
Chicago and the daily accruing evidence
that it is needed for export and home con-
AAvran utf H. nd ION, will
ers In open competition for it, the posi-
bilitieS on that account alone are not a
pleasant contemplation f., for c the shorts. The
both coasts. compared with 2.s34,0o0 bushels
on the week before. Primary. market re-
ceipts for the day were 2O5,OOO bushels
against 100000 bushels a year ago: Country
millers bought 10000 bushels No. red
here at the May price. The shrewdest trad
the course of the market after its first lively
advance to 59ssc for May and 601a for July.
the excitement was redoubled. May rose to
Coo and July to Gle and those were the
prices at the close.
by the distracted condition of the shorts
Captain Phillips was the most prominent
day to buy in short corn. st. Louis fol-
lowed later and with their competition
came very active and the price shot up ex-
citedly and closed with May at 471ac and
Oats developed considerable activity and
heavy business was transacted. Prices
closed at the high points of the day. The
advance was principally the result of 2
scare among shorts and buying was heavy
by ALL Wheat and corn showed such ex-
treme strength they were very influential in
marking out the course of oats. although
the firmness was principally independent
May sold from 2S1sc to 2sss@2s1sc, up to
291sc, and closed there. July started at
27l5c, sold up to 2Sa4c, and rested at that
price.
Provisions were firm but comparatively
steady. At the close May pork had gained
sc and ribs .O21ac. Lard was practically
unchanged The hog receipts were 1000
For next week 100000 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: