The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1903-11-11
Frank B. Aayne.

AS long as the leadership OF che
bull,clique in cotton involved nothing
but the reception of bouquets, Mr..
Frank B. Hayne, Of New Orleans,
who. together with Mr.. W. P. Rrewa,
carried the cotton deal to 6 successful
conclusion, remained modestly in the
background. But when she orors.:oas
OF the bull clique began to become the
subject Of invidious criticism and saw
age newspaper attacks, HIr. Hayne
magnanimously came forward and gal-
lautly assumed his share of whatever
blame might attach to the managers OF
the famous corne=s IL July, Auguse
and September cotton. Prior to his
departure from New York last week,
Mr. Hayne gave out the following in
terview TO New York reporter:
II have been here to assist in run.
ming the deal. AS my firm was so
largely interested, it was only natural
should be here to look after our own
interests.
"There have been go many adverse
criticisms Of late regarding the whole
transaction that I feel have to bear
my full share Of the blame, and, there
fore wish to state that in the July
deal in New Orleans Vincent d Rayne
had 70 per cent, in the July-August
deal in New York, II per cent more
than any individual or firm, and in the
New York September deal within a
few hundred bales Of as large an in
terest as any individual OF firm.
'The other members of the pool
turned oyer TO Brown aud myself the
entire management Of these deals.
could take no action regarding them
without the consent Of Mr.. Brown.
and vice versa. After the pools were
formed every bale of cotton in those
months that was bought OF sold by
Mr.. Brown or myself was for soeount
Of the pool. Neither Of US could trade
individually in these months.
L will state that on account OF the
i'll health Of my partner, Fl. Del Vim
cent, the policy Of management Of the
affairs Of Vincent G. Hayne hes been
entirely guided by me during the SEQ
son, so, il any oensure is to be attach
ed to any Of these transactions am
willing to bear my full responsibility. "
Mr.. Haynes conduct in this affair
is eminently characteristic OF the man.
During business career Of twenty
years in New Orleans he has achieved
q reputation for fair, square and hon
orsbis dealing second to that Of no
man in the trade, and his word on the
floor Of the exchange is as good as any
mans bond. No suspicion Of under
hand and devious methods has ever
characterized his transactions as o
spot dealer OF his saetics as bull
leader. He has never betrayed his
followers. All his operations have
always been carried on in tho light Of
open day. There was no secrecy about
them. No buying with the right hand
and selling with the left, as is some
times done in the maneuvers known
to che trade as Shaking out trailers."
Time and again during the life OF the
deal the bears have succeeded in sta1n-
peding the market by spreading 7a-
mors that the bull leaders had made
private settlements, but oil aneh Pa
ports proved malicious slanders and
we're never credited by those who
knew Mr.. Hsyne and his associates.
He announced from the outset that
there would be no private settlements
and there. were none until the deal
was carried to successful termina-
tion..
Whatever adverse criticism the bull
clique has elioited, it ought to COM
fort them 10 know that it has not
come from the South. They have
added millions to the wealth Of the
South during the month Of September
alone, and they have made selling cot
ton short exceedingly questionable
in Wall street. They have wrestad
the mastery Of the cotton market from
New York, the home Of the chronic
bear, and lodged it in New Orleans,
the home Of its friends. For tkese
things the South will hold always
them in high esteem. It was only the
other aay that correspondent in
these columns, -himself Q planter, ex-
pressed Q common sentiment when he
invoked Gods blessing upon them.
Mr.. Hsyne is native Of South
Carolina, but has spent the best years