, 1896-04-18
NOTED GAMBLER DEAD.
Made and Lost Fortunes Time
Without Number.
A MILLION AT A RACE
X W Pardridxe, tho Successor q
sold Hutch" PRssss AWsy-lu-
cidents OF an Event
fuI Career

Chicago. April 17.-Edwin Partridge.
one of the most prominent and veal
thiest operators on the board of trade.
died of Bright's disease today after sew
eral weeks illness.
Edwin Partridge was the successor
to odd HUTCH Benjamin P. Hutchin,
son, as the %plunger of the Chicago
wheat pit, and has made and lost for
tunes times almost without number.
He has been reckoned to be the luckiest
and at the same time unluckiest man
who ever played the margins in the
United States.
He went to Chicago from the state of
New York soon after the big fire and
established himself in the wholesale
dry goods business. He was worth a
lot Of money when he got to the Mich-
igan lake town and, having had long
experience in the dry goods business
in his native state, soon began to grow
rich. He ran what was known as the
Boston store and when he sold it OUT
about seventeen years ago his check
was worth well on to 81, 600. 900 to any
man he might take a notion to give it
to.
One day about the time he closed out
his career as a merchant he wandered
into the stock market and took a look
around. A few days later he called
again and pretty soon the brokers be-
gan to take notice Of a quiet-looking.
guiless-featured young man who would
drop in and out. make an occasional
trade. and retire in good order.
In 1891 this young man first blossom.
ed out as a full-fedged "plunger." To
use the pit terms. "he went out against
the crowd and they trimmed" him
for about all he was worth. ''Old
Hutch was in the trimming and when
Partridge got through counting the cost
he found he was $500. 900 loser. That
was his first big experience.
He said nothing, but laid in some
more wood and sharpened his saw. To
iA4hhS q hC vac kOltCu "
mortgage his million dollar State street
property for $685. OO, which he turned
over to the successful bulls. This pun,
ishment did not convince him that
wheat was going up. On the contrary
he stayed on the side that had swal.
lowed his $500. 900. When December
wheat was 81 a bushel and May wheat
$1.06, and the great mass of professional
and outside traders were talking OF
$1.50 for May, Mr.. Partridge said:
Well, boys, l believe it will go to so
cents before it goes to $1.50." 1t was a
case of n man against the markets OF
the world, for the opinion that higher
prices must rule was shared in every
market where wheat was traded in as
a speculative commodity. 1t was an
uphill fight. He was called a crank,
a a who was flying in the face of
Providence, whose fortune would be
recklessly dissipated IN the short side
of a rising market. Friends volun>
tered advice. Relatives importuned.
The little nan listened-and sold more
wheat. He never let up selling until
1t was generally that he carried
IL, 200, 900 bushels. Other "%plungers'
had carried that much wheat for a day
or a week, but Partridge carried it for
months.
One day wheat closed at S0h cents.
He paid of the $3.50, 900 mortgage and
announced that he had 81, 200, 900. to in
vest in real estate, All this was made
in selling May wheat from $1.O6 to 80
cents. Millions and millions Of bushels
we're sold by his brokers. and on many
occasions his short line would run as
high as 20, 900 ,0OO bushels. This meant
that a ~fuctuation of l cent up or down
involved a loss or gain of 5000, 900. The
change of an eighth Of a cent meant a
loss Of $3.50, 900. There are few men
who could risk a fortune. take the
chances involved in a transaction like
this and retain their reason. Yet for
weeks and weeks, warned on every side
that only disaster could result from
these operations, Partridge moved
about the floor OF the board and joked
with his friends as II he hadn't a care
in the world
Nobody knows how much money he
made on this decline, and he said him-
self that he did not know exactly. He
acknowledged that he made 1850. 900.
cut the gossips of the board had It that
q. ooo. 900 was about the right rum. n
addition to the wheat deal he plAysd
successfully on the short side Of oosll
and provisions. and his pro6ts on TO-
side issues are put all the way hu0j
13eo.00o to &50o.00o. IS
That was practically the way - -