The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1904-03-30

Theodore Price was the big man in
the cotton pit in those days--the
same Price who, few years before
had ciphered out first the course cot
ton prices would take, had speculated
accordingly, and after few brilliant
successes had dragged his firm down
to failure. Price was the great cot
ton bull, and Sully watched him.
The price of cotton was something
below 8 cents then, and Price WAS
telling all his friends it was bound to
go up. Sully heard Price talk, but he
didn't buy. He was learning to play
the game.
1t was early in March of last year,
before the young nan from Rhode
Island felt that he was ready to play.
Then, without any blare Of trumpets,
he started, and from then on the cot
ton spectators CT the world had to
reckon with Dan Sully.
He took up the trading where Price
baked, when cotton was selling around
9 cents. Sully said Price was only
guessing at things about which he,
Sully, knew. In less than o week
Sully was the commanding figure in
the pit. He traded on the exchanges
Of Alexandria, Liverpool, New Orleans
and New York, and it was ever and
always "buy cotton"
Conservative operators shook their
heads, the bears growled and olawed
the air, but the rising tide of Sully
bore the price Of cotton up and along
with it.
To'9 cents it went, to IL, to 3-4,
to 10. On every cotton exchange in
the world men were asking for aows
Of Dan Sully. Who was he and how
long would he last? And while they
were asking the questions, cotton
continued to soar-101 2 cents, 10 3 4
II, II 1-2.
In May, after Sully had been all
winter in the pit, he had made more
than million and he wanted rest.
He got out of the market, and with
his wife and three children went to
Europe.
He was hardly out Of sight of the
harbor lights when a new operator
appeared on the scene. He wes Gel.
W. 2. Brown of the firm of ". P.
Brown & Co., of New Orleans. With
him camo Thomas Majors and Frank
Hayne, aud they, while Sully was
touring Europe and having fun, exc
cuted as near f'corner" in staple
product as anybody ever brought
about. To all practical purposes cot
ton was "cornered." Up went the
prices again and it seemed as If there
could be no limit. Twenty cent cot
toni was the cry that rang from New
Orleans to Liverpool.
The mania for cotton speculation
seized the cotton planters of the
South. Farmers bought options Of
farmers. Sully the msgioian, and
the bulls who followed him, touched
the mortgages on the cotton plan
tations Of the Southland and they
melted away. Brown the manipula-
tor held up the price and the cotton
growers saw more real money al
most than their fathers had before the
war.
By and by Sully returned from his
holiday and he and the New Orleans
men joined forces under his leader,
ship. The cotton pit was hedlam
again and the prices shot up and ever
upward until II 3-4 cents was reached.
But the limit had been reached.
There we're fluctuations up and down,
and shortly after the holidays Sully
announced that he had retired and
MAS going South.
Then it was that ugly rumors spread
abroad that Sully had sold to his as
sooiates. They said nothing and the
general notion was that Sully had
cleaned up something more than $3,-
100000 in about q year. But the
"Kins" changed his mind. He stay
ed here instead Of going South. On
Fob,uo,, < Ia 49,. "a uIs a,