New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-03-19
BULL LENDERS IN COTTON.
Mon Who Hare Made Prices Soar
HIGH an -Four Years.

4 sensational huE movement la cotton las been
kept mp in this city for moro than four years under
different leader. cotton being made 10 soar 20
higher and higher figures At intervals. iu spite OF
.-cssional slImre. Theodore II. Price Was the
leader 81 The movement al the start Although MS
arm was forced TO failure On 1902 his reputation
Fs p leader vas not impaired. lie predicted that
cotton would go 10 10 cents pound. and "a did in
lei Tic and his followers we're credited with max
ing millions on tho advance before another break
in prices came
IN December 1901 AIr Prices prediction % . 40 To-
90 bales for tho 1e0-02 crop caused an advance OF
10 points in the cotton market Before the govern
ment prediction OF 100000 bales was announced
M-. Price and hts associates were said 20 have
made nearly s2o9oaoo. In the following spring Mr.
Price dropped tho bun movement and became n
bear, depressing the market lie points
Daniel J. sully became conspicuous as leader
81 the bull movement in cotton early IN 1902 He
and his followers forced I'D the price Of March
cotton that year 20 over - cents a pound. They
kept 81 up long enough 20 make enormous profits.
and She price almost a record one. For DAYS
the excitement on the Cotton Exchange was In
tense. March ives half gone before there was a
decline N prices. IN the following Nay there was
another rally under Mr. Suuy's leadership. and
cotton scared - ia cents "a pound. There was n
change Of leadership ia tie bun movement that
month ". D.. Brown Of New-OrIesns who had
been associated with Mr. Sully r the movement
TO che city and assumed the leadership OF the
movement. As Suily's interests were Withdrawn
Brown au0 his friends jumped into the Gray. Su!lr
became lear in the market. facing Brown the
floor OF the Cotton Exchange RI times OF The great
est Excitement. The stock market affected By
the nght cotton. many stocks selling OF wIila
cotton continued 10 soar. ON May - the option FOR
the month nearly L cents pound.
Brown md his friends remained in control OF
Tho market through June, when July and August
1 cotton selling above y cents. Early IN July
there was break which sent the prices down be
low L cents There a regular panic IN the
Neu-t Orleans market Brown was IN New-OrleauA
al the slime. He kept cool and declared that tho
slump had caused healthy liquidation which was
good for the market. BE came back 20 New DIRK
n August attend 10 the sales OF the large hold
inEs Of has pool and he declared later that those
. holdings were disposed OF AZ a large profit
Late in December last. under Browns leadership.
sHc bulls forced cotton I'd 10 record prices again.
4 on December = cotton selling above Is cents.
There q slump next DAY. cotton declining
nearly s. hale but II did not seem to affect tho
bulls seriously. prices were maintained near the
- cent mark later.
Early this year Suly again assumed leadership
~ the bull movement and the price of cotton on
some options went up To over Il cents a pound.
Ills boom collapsed IN February
The extent OF the break IN the cotton market
this week Is shown I'm the following table.