Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1903-05-23
BULLS, BEARS AND SUCKERS.
No Abatement In tho Frenzied Game
In Wall Street.

In Wall Street.
It was q badly mixed" crowd that
surrounded the local pit in the cot
ton market this morning. In the first
place the Liverpool cables were almost
as sensationally weak as they had re-
Gently been strong and though just be-
fore the local opening they showed
some irregularity they were still from
10 to IL points below expectations. In
addition to this the weather may have
again reflected favorable conditions
and early estimates indicated that port
receipts for the day would once more
greatly exceed last year. These fac-
tors naturally exerted, bearish infiu-
ence on general sentiment, but on the
other hand the strongly aggressive
tactics Of the latest bull leader has
rendered the average operator fearful
Of further sensational shows OF
strength so that at the opening there
seemed disposition to let the big men
Of either side set the pace and estab-
lish the initial range Of prices. Still
there was enough business to make the
opening an active one while the spec
ulative atmosphere was still full OF ex-
citement and uncertainty. At the
start the bears had all the best OF It.,
first prices being II to 29 points lower
with July selling on the call at 1923,
August at 1913 and September at $40;
following this after some irregularity
there was a sharp rally under bull
support. -
The betterment was comparatively
slight, however, and chiefly in the late
months with near price positions fiuc-
tuating in a nervous and uncertain
fashion. At this time the market was
comparatively quiet, but the closing
cables from Liverpool indicated an ut
terly demoralized condition there, the
earlier months closing at 19a to 22a
points lower. This brought about such
a rush of realizing in the local market
as has seldom If ever been witnessed.
In five or ten minutes July sold from
lilo, the best Of the morning, to 1880,
loss since last night Of A points;
August sold from 1881 to 1862 and
September from 9.92 to 9.75. Then
came a pause and the market moved
uncertainty, slight recoveries being
followed. by equally slight reactions
with prices generally ruling within 2
or points Of the bottom.
Midday found the opposing factions
resting after the tumult Of the morning
but prices while net 9to IS points low
er showed recovery, Of to II points
from the bottom. thas indicating that
neither side had yet abandoned Its po-
sition.
During the afternoon speculation
was much less active, but trade SEN
timent continued very nervous and un-
settled, the bulls showing less DISPOSE
ton to support the market. There was
continued realizing and bear pressure
II, anticipation. that Liverpool would
show less weakness tomorrow and one
estimates for heavy: receipts. Under
the settling the market developed a
gradually declining tendency which
gathered force toward the close and
prices were forced down to a new low
level for the day closing easy at a net
loss of from 27 to IS points. July clos
ing at 1910 showed loss Of over $3.50
a bale as compared with last nights
close. May closed at 11.60, August at
10.4O and September at 9.65. Total
sales of futures were estimated at L.
100000. bales.-Associate Press Dis
patch Thursday.