The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1904-03-19
Market, I'D De11oral ize1d !: 1 at Start,
4 Is 3Frenzied sOver$thc Grim
al ews 81 allure. ~
5SULL Y zoe H.lM ]. I M|s''!ElF. i s'!EE:,ll VI
REFU ING S sT'A EMENT
Bears; p lighted Over lz's J ? Defeat # a;
of@Bulls, TIT ro1YA3 N !. .7E=[;a Hats IS ii III the the
lir II and ali Tear Zach others n.
Clothes arkef;;s II; Rallies
Finely y,-- Stocks x. ! Are i'l,: \.
'sJ Unaffc ccted. 5sss
/ yfBy Bjy,s',AIssoctat1dlPress.

ss4s sssg CBy AssoctatSdAI' I'ress.) ss.
III NEW y oR i iar9i Dahtei ~.
..sully. tho cotton operator. wa,o has 5tfor.
fifteen months been TIE biggest figure
tn5, Tie otton markets. the world and
3vho has pulled cottof ON seven cents
a pound to ov er: sevin ten announced
his inability ID make good Ills engage
3$nents s3 on the s:N NewS FORK Cotton Ex--;
CHI change today. within fev moments2
cotton fell nearly th,r leenf d ollars = bale
from the highest figures ofs the day: "a
Il scenes such as follot ted the announce
men r erit 81 the failure it has been the priv
lilege OF few brokers to witness before.
Traders in the street! have VII itnessed stock
pan E1pnanics in previous " eara; corners have
been broken, and man, crashes have
been recorded but n one has been accom-.
panied W slch Z frenzy and confusion. ss
While there had. been no premonition
Of 4 the impending craah,, 10 i sslnorninE OF
$thc9 sea SON had witnessed ss5a more; de-
nioralized mar ksts Irlg glesas that ten sm1n-
ut es 4 ter Il, arer.i inE3 a sscent Eilad
BEEN taken of price ot taco ton: Prices
went Up and dow n, 40. 10 and 80 points
within two and three minutes.is May
$opened Ia 515.2 20 and sold down to II. IS
in less than fifteen minutes. while July,
opening al is. 20. went down to- a S6. To-
ward the end otfthe first half hour, ear.
$ly$ sellers started to cover, and there wa
IL rapid advance. 3 y r here was nothing lin
the news to account, for6 the excitement.
j t steeme ed merely e renewal Of bear
operations and the catching Of further he
stop orders. XII Vi
Grim Announcement.
shortly afters the afternoon session.
however. there was a lull in the pit and
ut about five minutes after o'clock the
announcement.of the suspension was
made by Superintendent King, who read
from the rostrum tfds notice:
I'VE regret that we arc unable to meet
cur enga gements. aud. therefore, will
have to suspend. q II; ss a #st}itt ia &
u b .s,'i DANIEL .. sULLY & co..
+. For a few seconds there was an onlir-
Gus quiet over the floor as though the
news had stunned all within hearing Of
the announcement. T Then With one IN, :
pulse, n mighty shout went up from the
bears. they who had been ftguring Sully
ond I. the bull CLIQUE for months: Hats IA
were thrown into the air to fall where
tl,ey would, a moment later to be tram-
Hrled i1pon BY the stampede for the pit:
Coo Is q we're torn by frantic brokers In
their mad efforts to unload their hold
Eings. and chairs and camp stools We're
dashed intosthe pit to mphasize some
wild brokers' offer to- sci NJ essen gers
soon were 4 rushing iii and out Of the he
building with orders to sell or buy telee
s%phone ! booths were besieged, and telc-
$gra pr offices were flooded q with dis:
ts Outside the Cotton Exchange appear
"a noes gave ~ tile Ind dlcation Of the pal !
sdemonlum within, until tho messengers
be gan to between the Exchange az ana
4 Ia a brokers, offices. Soon the news
l1, ron ched tia Stock. Froduc and Co flee
}E,x cha nges, and traders on these mar
tkets hastened TO the scene Of the panic lif
Crowds assailed the en- trance 70 the Wis,
7iif