The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1904-02-07
.SULLY WILL FIGHT
TO THE BITTER END
Claims Cotton VIII Yet Go to
20 Cents
MARKET IS LESS EXCITED
New Orleans Volume of Trading Was
Light and Was Tame Compared
With Fridays Wild
Excitement.
MARKET IS LESS EXCITED

Excitement.
New Orleans, February 6.-(Special.)-
". r. Pagan. Daniel j. suliy's New Or
leans representativ makes the authorita-
tive statement that Mr.. sully has not
liquidated his cotton future interests and
does not intend to do so, but on the con-
trary has decided to give up his trip to
Florida and to stay in New York, and
will fight 1t out to a finish. The fact that
the New Orleans cotton factors have COW
cred their samples and refuse to follow
the decline in the future market and
sell spots at less than Is 516 cents Is
regarded as one of the most remarkable
and at the same time a most encour-
aging feature of the situation on this SUBJ
ject Mr. Sully today wired Mr. Pagan:
Factors are doing a wise thing. I'M
press on them that's what every one
should do We will make the shorts suf-
fer worse than they have ever done be-
fore"
Messrs. Brown and Hayne are both sup
porting the market and insist that the
scare is unwarranted W. p. Brown says
that his confidence is just as strong as
ever and that the market is sure to adj
vance as soon as the excitement subsidies.
Mr.. Brown still believes that 20 cents will
be reached
Not Much Excitement.
Today's cotton market was but a re-
petition of the preceding two days, except
that the wide declines were not attended
with so much excitement and panicky
feeling was in evidence for few min
utes only
The week closed with prices from 421
to 4S1 points lower than the highest levels
of the week. In spite of this wide net de-
cline the feeling at the cotton exchange
this afternoon after the closing of the
market was optimistic, and the general
impression prevailed that the worst had
passed, and that next week would see
the turning point in prices.
The day had few sensational features
so far as the actual trading was con-
cerned. The market was tame affair
and the volume of trade was compare
lively light. The unreasoning desire to
sell no matter at what sacrifice, was not
shown but instead traders commenced to
hesitate and ask themselves IL cotton was
not worth more than 1t was selling at,
and if their holdings were not worth
keeping. ;
Market Did Not Suffer.
1t was apparent that the outside long
interest had been almost totally elimi-
mated in the drastic liquidation of the
week and the market did not nave to
suffer from offerings from this source.
Long cotton appeared 10 De almost ,eptlre-
ly in the hands or professionals ana the
| bulk or 1t In the hands OF strong Dull
interests.
Brokers, however had become wary
or buying so mucn cotton ana toward
the close comparatively light amount OF
cotton onered Tor sale acted as weight
~, a., - - 49, ~
t - - ~ 49, -.
risnese lese.a % wy ua, -, t 80
~ w. $3.50 IL, ~
,r,,o si...s.,a-,g ,1,aoa -, ,..n.,
~ .lo, -. 80 ~ ~ -
piol,,,l.e ~ .iS LIZ
mar, mo- ne' - ~ nv ,S.n. - az - 10
peen :. was poin'. 81. w INC. , nc 'aily
REMAINING oeais III ',e ma he' naVe ap-
poien,is S1'e.eu "no 10 80. -, -,
ee,'eu " 'le .ois sie' -. "
Ci,eah' mo- nv a'A''oS' soH1i' O'i' mai
he''
Money Enough to Wage Fight.
II of course has the hear interest of
| ether markets to contend with hut II IL
o,ai,,,sd thara &c r,onav anougb IN Nsy
! Orleans at the commend of the longs ta
vaya a feht IN the fnisb and cause tho
| ,annart of tbis saasor,s cron 70 he ,,a,.-
ated OF hieh oricss s,,cb as is tr,stiaaa
| h., tha s+atIst;oai v,os,tia, - 49, 49,,
,,,oditv