Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1903-03-21
THE BULLS AND THE BEARS.
Lively Contest For the Control of
the Cotton Market.


Who is to be the new Cotton King?
Down in Wall street there Is battle
for the worlds cotton crop such as could
only occur in this, the greatest cotton
country In the world, says the New
York World.
+, On either side are arrayed countless
millions of dollars, vast resources of
knowledge and bitter determination
to win. 8
The bulls following the leadership Of
Mr.. Daniel ]. Sully, of Providence, are
making every effort to corner the mar
ket.
The bears. following the flag Of The
odore H. Price, the old-time Cotton
King, are using all their resources to
break the price Of cotton.
1t Is a financial duel for millions upon
millions, in which defeat will spell ruin
for the victims.
Here is the daily program Of the bat
tie, during every hour Of which hum
dreds Of thousands Of dollars are band
led hither and thither like ball on a
tennis court:
A gong sounds. It is like trumpet
call to battle. Men rush to the pit as
soldiers to their entrenchments. Their
leader Is there before them. A hun
dred hands are in the air, hundred
voices are clamoring, hundred pen.
ellis are recording bids. Point by point
the market is driven up.
For every point it advances a golden
torrent, invisible, but not the less sub
stantial, rolls into Sully's pocket.
sphinx-like and imperturable Sully
gives orders right and left. BUY!
buy! buy!" Is his shibboleth. His hat
Is tilted on one side Of his head. His
brokers are bowling around the pit like
pack Of wolves.
Over in a corner a telephone tinkles
almost without cessation. 1t is that Of
Theodore Price, the dethroned cotton
king who Is fighting to regain his
crown. Messengers hang around 1t
like hawks about a pigeon cote. Every
tinkle is war-challenge to Sully.
And with every ring there Is flying
messenger, a bouncing broker, and an
other series of buying records for Sui
ly's book.
At 1880 o'clock there is lull in the
uproar; Sully improves the opportunity
to look at his books.
He holds personally and for the pow
ers behind him over 100000 paper
bales Of cotton. Their profits are ap-
proximately, and on paper about 81
0O0, 900.
When man wins $4,000 900 he can at
ford to enjoy a bottle of wine and
plate Of water crackers.
So Mr.. Sully goes to luncheon. The
man behind the telephone over on Wall
street is made aware Of the fact.
Telephone after telephone begins to
chime. Brokers rush wildly to the
pit. Again the uproar begins. Bomb
shell after bombshell from the Wall
street man explodes in the pit.
1.-THE New Orleans bull clique have
closed out their holdings" says one ru-
NOR.
Down falls the market like plum
met. Smash! smash! smash!" Price
goes at his absent enemy's forces with
out cessation until the bulls are ac-
tually on the verge Of stampede.
One Of the bull brokers rushes fran
tically away to find Sully. Back rush
es the bull leader to the pit with his
napkin in his hand.
But he cannot stay the disastrous
tide. The market sinks like the pulse
Of dying fever patient. One minute
after Sully's arrival he has lost $780,
900. He is losing money at the rate or
$1,000 a second. One hundred thou
sand, two hundred thousand, half a
million, one million, million and a
half, and 30 on up to two millions and
half Sully sees lost In the wild vortex
before he can get under the market
and hold 1t UP again.
Still. in spite Of the terrific strain
Sully shows no signs Of worry, and
when the day Is done and the closing
gong rings he asserts with as much
confidence as ever his conviction that
much higher prices than those yet seen
will be reached.
"The worlds visible supply Of cotton,
which must ultimately be the deter
mining factor Of strength or weakness.
generally decrease at this time OF the
year, but the decrease for the present
week is only $4,000 bales, as against H.
900 for the corresponding week last
year. The deficiency in the visible
supply as compared with last year has
been the fulcrum upon which prices
have recently been lifted to the abnor-
mally high altitude they have touched.
If this deficiency in the visible supply
shall continue to disappear the argu-
ment in favor Of high prices will not,
Of course, lose its force.
"It is seldom that a more important
alton of agriculture, manufacturing
and commercial interests than now
confronts the world in its needs Of
cotton supply to meet the prospective
demands of the current season.
Rarely in the history Of the cotton
manufacturing industry have there
been in operation so large per cent.
of the worlds total spindles as at the
present time. Another significant fact
is that at no time in the history Of the
industry have there been so many
spindles employed in overtime or night
work as at the present.
It is estimated that more than one
half Of the crop was affected by clim-
attic and other causes. Assume clear