The Savannah morning news. (Savannah, Ga.) 1900-current, 1904-01-07

what man dare, 1 dare:
Approach thou like the rugged Rus
sian boar.
Take any shape but that, and my
firm nerves
Shall never tremble.'
Macbeth, Act. Ill, Sc. 4.
These few lines from the immortal
Bard of Avon were the keynote of the
requiem chanted by a bull chorus
on the floor of the Cotton Exchange
yesterday. Like Macbeth they trem-
bled before the coming of the animal
whose growl betokened his individu-
ality, and left no doubt as to his
genus.
Steathily, and yet more steathily. he
approached, and the bulls fled in ut
ter dismay Whether or not, the bear
had been alternating for the last
twenty-four hours is a matter of con-
lecture and speculation. but there was
no doubt that he forsook his winter
quarters yesterday, and mingled in the
American rings at New York, and New
Orleans. Nor was his presence I'M
known in Savannah, for perched
alongside of his former antagonist on
so many battle fields of wire and tape,
he growled a growl of defiance and
none there was to dispute that he was
lord and master of all he surveyed.
AS if to mock the jest of the preced-
ing day, when some loyal friend of Old
King Cotton set a bull upon a mantel
in Change and marked a legend of 30
cents below in letters so bold that
he who ran might read. broker with
bearish instinct, and still more bearish
foresight, dragged from the archives
none other than the insignia of the
Cars domain.
True it was that the dust of time
had been accommodating upon the cruel
monsters loins ever since cotton has
been in the ascendent, and true it was
that it took some time to induce the
beast to leave it's lair but patience
had it's final reward and the animal
got another opportunity to give the
fleecy staple another good, sound
hug" That his squeeze was more
than effective was shown in the way
that the erstwhile sturdy bull dropped
his defiant tail and lowered his head
as if in shame.
AS if to add significance to the SELF
the man with the bearish turn of mind
put a sign that read 10 cents in let
tiers even more bold. perhaps. than
those that adorned the bull.
To make the figure more timely and
to typify the situation in the Far East
q Jap in miniature sat complacently
upon the Russians back, entirely heed
less. to all appearances, of his omi-
nous growl.
The episode of the Bull and the Bear
4o,1o6t 1eScnu In q Lxa HE lam
guage. With the opening of the Liver
pool market a feeling that all was not
gold that glitters was written upon the
majority of faces of those who have
been following the fortunes and re-
verses of caDricious cotton for weeks,
and days. This feeling was still fur
ther accentuated when Liverpool
sclosed only 10 points up, discounting an
expected rise of at least four times as
great
Then it was that New York caught
the fever, and the market went down
with a whoop. All day the decline
continued with almost monotonous reg
ularity and when the last bell rang it
was shown that the metropolis had sold
cotton down to rs points. New Orleans
also kept up with the procession with
a. market showing a drop of from Sc to
6S points at the close.
Spots in Savannah went off Nc and
the f. o. b. brokers reported but few
sales on a basis of good middling at
13hc. The interior still refuses to sell
in the face of such an uncertain and
fiuctuating market.
All these unexpected things happened
on day just after the ginners' state
lnent made a showing of over 400, 900
less bales than last years crop. That
the war clouds that continue to black
en- over the Orient effected the situation
and caused the sensational decline goes
without saying. but it was bears day,
and any one who doubts it has only to
ask the "Fleeced Lamb"