Okolona messenger. (Okolona, Miss.) 1900-current, 1904-04-20

chief staple Mr.. Majors was IN the historic svbdi
cate which took actual delivery OF than 100000
bales from the New York bears in the summer Of
1903 and thus routed a veteran army Of maDipulat-
Ors. Mr. Majors Cor, perhaps we should say, the
firm of which be was then the head) failed during
the crisis OF 1895, bat the suspension was empOr-
ary and all creditors paid dollar for dol
| lar His personal character Is above TeprOach and
his present wealth is known to be large.
Not very long ago, Mr. Majors applied for mem
bership in ihe New York Cotton Exchange. The APP
plication was faVorably reported By the committee
| on membership, but was rejected By the board OF
managers. Everybody hereabOUt marveed at the
taboo, and the wonder deepened into amazement
when the New York Times frankly declared that
the episode simply crystalized resolve to have no
more bull manipulatOrs in the ranks Of the metro
pOlitan body Such reason is worse than no
reason at all
According to the explanation OF. the Times the
New York Cotton Exchange has gone on record as
a bear pitt has set up an alliance offensive and
defensive with the spinner as against the grower OF
cotton. This is absurd for credence-the reason
given is not the true one because it cannot be- Il
the e'episOde simply crystalized resolve against
bull manipulatOrsv the method Of the capitalization
is irrational and unbecOming. II this be the design
Why not adopt and prOmulgate general rule plain
" declaring such pOcyi Is the action taken to-
| ward Mr.. Majors to be accepted evidence OF
such a policyi Should any s'bull manipulatoTs"
develop Within ''t b e metropolitan body"
would they be expelled for plunging, la
Sullyf These questions suggest replies that Justly
us in viewing the reason given as pretext. In the
way Of calculating the puzzle we quote again from
the Times Democrat:
The South has long believed that the New York
Cotton Exchange was nothing more than mighty
hammer to pound values which the property oi
millions Of producers depends. The hammer has
not worked we'll during the last four or FIVE years.
because natures irresistible forces have been on the
other side. Nevertheless the will has been there
though the way has been blocked.
It has been q subject Of common remark that th'
cotton sceptre is passing from New York to New
Oreans-that the latter city is becoming the centr
Of authority for guaging and giving out the report
and calculations which forecast production and ten'
to fix price. That this change may have excite'
enmity and fear is not unnatural. But what pal
try way Of showing resentment would be the bios
to Mr.. Majors It is not pleasant desirable to ct
tribute mean motives. But the public has no Othe
recourse than resort to inference, to account 70
the rejection Of bis application for membership
And if the suspicion arises that its managing boar
s playing for revenge on the "histOrc syndicate,
the New York Exchange has no just cause Of con
plant. Such game would be as puerile as eOnteT
ptible.' It would be less manly than the way Of
certain mining camp, in the days Of the wild an
woody vest. Here when outsider come along an
got away with the home talent at the iavOrte game
be was held up and made to shell out VicksbuE
Herald.