The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1899-10-04
A WILD DAY
In the Cotton Exchanges Through
out the South.
CAUSED BY BOGUS FIGURES.
Southern Traders Victimized Fri
day by What Has Appear
ances of Being Well
Nan.n;rnn,1
Laid Conspiracy.

Laid Conspiracy.
The widest panic ever witnessed on
the floor of the New Orleans cotton e1-
change occurred Friday shortly after
business opened, and caused, in the
midst of the intense excitement, the
complete suspension Of future business,
pending the investigation of what st
the moment was assumed to be = glgan-
tic conspiracy to swindle the cotton ex-
changes of the country. The panic
was d1e to an apparent terrific Jump IN
the price of cotton, based on alleged
Liverpool advices and it was roughly
| estimated that 5 70, 900 had been LOST
on local transactions as result. Lat
er in the day the exchange. after re,
ceiving |. g j advice, declared null and
void all future transactions OF the DAY,
This action, however, promises 70 DO
bitterly contested, and litigation ID
likely to be the final outcome.
The market at Liverpool opened 5sa
lower on spots and four si1ty-fourths
down on deliveries as compared With
Thursdays values, and continued with.
out material change for some time.
Then the wires became hot *ish tn
tales Of rapidly advar cling prices. They
started no one-half of si1sy-foarth at
time at first and then jumped one
sixty-fourth, one-half s!xty-fourth. tive
sixty fourths and two and one-haH
sixty. fourths in quick order, until the
net advance up to 9:45, local time:
sho we'd Al sixty-fourshs. In the mean
time New Orleans had opened uader the
influence of the Liverpool advance 81 to
"a points higher than last evenings
closing, and quickly climbed up 80
points additional. Then the explosion
came. With an unaccouutable advance
Of 81 points facing them, operators be-
gan to receive cablegrams from Liver
pool asking.the reason for"the heavy
gain in prices in this market and stat
ing that values in the English market
still stood still at about the opening tg-
ures. These cable advices, in the face
Of from 10000 to $4,000 bales sold and
purchased, threw the operators into
frenzy Of excitement.and they surged,
shouting, yelling and gesticulating,
about, the ring as President Parker
rushed to his desk and summoned with
out the usual formalities meeting OF
the exchange. Amid tumultuous scenes
motion to suspend business was gasp.
ed out by wildly excited broker, and
with tremendous shout it was unanl-
uously carried. The news Of the e1-
citement on the floor in the meantime
had spread like vild6re through the
business districts and Carondolet street,
in the vicinity Of the exchanges, and
the bucket shops was soon thlonged with
excited men. Manager West of the
Western Union company, as soon as ne
got wind of the sensational advance, set
his wires to work with messages Of. in
ouiry to New York. Replies came
promptly, directing that all specials In
reference to Liverpool fluctuations be
suspended until they could be confirmed
by the 4 p m. report.
SAVANNAH SHAKEN.
The news that the cotton market had
gone up SO points in Liverpool created
great ezcitment on the Savannah ex-
change. Nothing like it has ever been
known there The whole aoor was filled
with local operators and foreign export
ers A large amount Of cotton was
oriered by some operators on the
strenrth Of the news. Many farmers
aud merchants we're notified by wire to
buy. The New York market being
closed for the Dewey day holiday, COM
plicated the situation. One man
ordered 32 900 bales and estimated his
profit at $4,000 Brokers rushed to
! the telegray yh Offices to send messages
10 interior representatives to buy every
thing in sight. 1t is feared this has
been done, and E A Cults, q pronin-
ent broker, ANNOUNCED that he alone had
bou hit 900 bales at Scents or there
abouts. The cotton exchange otasla!s
have had the board with the FAX"
figures on it photographed.
MACON BUYERS sUEFEa.
Macor, GA, cotton men were takea
in by the Justification Of the Li7srpoo!
cotton quotations aud there was wild
excitement there for while. a rush
q as made for the spot cotton which was
on sale and many transactions were re-
p, ed att Ooe planter sold so bales
which he had just brought to town at
that figure and number of other farm
ers are happy over having received big
prices for their cotton. These transac-
| tons will stand, the buyers having: con-
cluied to sta4d by their trades.
EXCITED IN CHARLESTON:
There were wild scenes on the feer
Of the Charleston cotton exchange Fri
day in consequence of the false reports
of the enormous advance in the Liver
pool Gotten market. 1t was the most
exciting day that the Charleston bulls
and bears have had in long time rem
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