The Barre daily times. (Barre, Vt.) 1897-1959, 1904-04-01
SULLY'S RAPID Rise.
Incidents In the Deposed Cot
ton Kings" Career.
AGGRESSIVE N BIS METHODS.

FaIIen Bull Leader Picturesaue
Figure IN The siarket-Has Fac
nsty of MAKING Many Friends. and
Several Stockholders Have Been
Tided over BY MS Forbearancc.
striking Features Of his business
omces
DanleI J. sulIy. the aeposed cotton
king, is probably the most picturesque
figure that ever entered the cotton ring.
saS the New York Times. a man Of
commanding appearance, lie possesses
the faculty Of making many friends,
and it WAS to great extent owing to
bis large acquaintance that ne was
able 70 RUE the market as me did. he
WAS born 10 Providence in 1861 and
has been 10 some branch Of the cotton
trade ever since be first entered bust
ness life. He began as a clerk with
Stephen NJ. Weld & Coz, who were then
in Boston, but who since have moved
TO New York From that firm he went
to the Fl w Reynolds company Of
Providence, who do a large spot1cotton
business. He travelled FOR them as d
buyer IN the south and also as d cotton
salesman among the mills Of New Eng
land, and his wide acquaintance In the
cotton trade dates from that time
After several years Of accumulated
savings and small profits ID cotton 70
lures he was able TO buy out the Reyn.
Odds firm, which be turned into a com
pany, whose president he became
1t was III December. 1889, that lie
came to New York. He had then be-
come convinced that the crop Of that
year would be very small one. and
that prices were bound to 80 up Early
in January he entered the market
trading through brokerage firm.
Within short time be had accumulat.
cd profits Of $4,000 and he thought |
II was about time to "cash in and go
home A Mr. Brophy, who is now bis
manager. persuaded him, however 10 |
stay, on the ground thai he had d good |
chance to make more than a mere nest
egg. Mr. Sully stayed ana soon began |
to trade for himself Before long he
was swinging good sized line Of cot
ION futures and was beginning TO make
name for himself His methods
We're aggressive and quite different
from anything the exchange had ever
known before, Soon lie attracted d fol-
lowing, and with its support he found
it not difficult 10 bid the market up
Before any one was aware Of it he
had succeeded In eornering the May
option 81 the New York market. He
VAS ia 4 position to squeeze all the
shorts and il was then that his gener-
osliy showed itself, and many small
broker WIS tlded over by his forbeai
anee. So il was that when the news
e his suspension came ont the othe
aay there were everywhere words Of
sympathy for the fallen leader.
After engineering the My corner ID
1908 aIr sully FOR the time being with
drew from the market lie bad made
ii fortune yariously estimated at from
S3,000009 10 ss.0o0000 the first figure
being probably correct. but, what il
more &c had made a reputation which
served him Ii good stead III his later
cainpaigns.
p august 81 last year be formed a
partnership with = n p. Morse ana
began 10 10 business SIS broker us
ayell.as for bis own account He soon
conceived tie idea that the present
crop would he small one, and he
started ont hot only to back up this
contention III the market. but also 70
try q convince the world TINT his idea
was right He very nearly did so, but
tiEfing the last few weeks his theory
some hard knocks. which
rather undermined the faith of his fol-
lowers.
ia December last SIR suily got out a :
crop estimate which placed the crop at
a,5q0000 bales. For time many PEG. /
pie believed with him When the gov.
ernment estimate apparently bore out
his contention, even the spinners ~
cepted il, ana every one began 10 buy D
Allied by the buying Of the public spec
ulatige following the price was rapid
nv Advanced, and the gully firm was
credited Will enormous profits. That
this was true at least to some extent
was shown by the fact THAT Sully him. v
self bought q house for his wife for b
Which BE- paid $4,000 !
He also branched out by Joining the 4
iofee Exchange and the Stock Elk
change. ana he moved into suit 81 7
handsome offices 10 the Wall street Ex- e
change building at New York, Here g
there waa established dining room =
for his clerks who had 10 work over. ii
time and sleeping quarters We're also ii
arranged for them a japanese cook
held sway IN the kitchen The dining i
room. with two portraits Of cat mas :
II