The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-10-18
SULLY, COTTON BULL,
- AND HIS METHODS

lambs is 3tpyramiding': that is, 50
long as stocks or staples go their way
instead of fortifying their margins with
their profits, they expand their holdings.
thus constantly enhancing the peril of
their positions. This was tho element
Of Sully's following which was -prac-
tically swept away by the break re-
sulting from his announcement of his
contemplated vacation. -. --.z.-s..
That Sully knew cotton better than
he knew men at that time was we'll
demonstrated by his prediction that
the census bureau report, upon which
he largely depended and which was
delayed for seven days, would show
9,9S6,000 bales, whereas it did show
1904, O00-a difference of only $4,000,
It is admitted that Sully calculated on
heavier bales than those reported by
the bureau, which almost obliterates
the discrepancy, small as it is.
Why He Failed. -
It is fair to assume that Mr.. Sully's
failure was due to lack Of Wall street
experience, to,a want Of knowledge OF
the resources Of men who go to make up
sure such knowledge is acquired with
incredible rapidity. There is little
doubt that Mr.. Sully's schooling in
Wall street has now rounded out his
capacity for campaign management. He
has the experience of two years law
suit from which he has emerged technl-
cally free from debt and with the reso-
lutte purpose Of cancelling all moral OBJ
legations.
Mr.. Sully's relations to the planter
enter very Importantly into the consid-
Grafton Of his present campaign. To
appreciate these it would be well to
read the leading newspapers OF the
south, majority Of which welcome his
temperance in the arena. The south is
interested to man in good prices FOR
cotton, consequently 1t is interested In
the Vaccinations of Liverpool and the
| oppressive yoke of the manufacturing
industry. Little wonder, then, that it
welcomes with open arms any reputable
| Moses who may rise up to lead it rom
/ its position between the grinding stones
] Of speculation to a fair plane of hnan-
cial stability.
Planning New Bull Movement.
| There is no question that the arggr
ments advanced by Mr.. Sully in supporS
| of his present campaign for higher
prices are of greater interest to man.
| kind than the personality of the man
himself. But it must be admitted that
the element of leadership in great
campaign in any staple is second only
| to crop conditions themselves. Being
in sympathetic touch with the planters
and at the same time on good terms
1 with an influential Wall street con-
tingent, having passed thru the school
of disaster and come out with matured
i Judgment and zeal bridled by discre;
tion, Mr.. Sully is more than ever
man to be reckoned, with.
| In addressing the American spinner
CT a4,,1, hi
fact that President Roosevelt's attl-
tude toward China has reopened the
door of that vast market to our cotton
! goods. He reminds him that our ex-
ports to China have fallen off So per
. cent in the last two years, while those
of the United Kingdom have increased
100 per, cent. "Do not, MI. s taIls
S,500,000 bales of cotton this year be-
fore YOU get your 100000, for the
HIGHEST conservative estimate is not
more than 100000 Of bales" The
planters of the south he urges to stand
firm in the matter of price, reminding
/ them Of their proven ability to combat
the combined influence OF the largest
! tacks of bearish speculation in all the
i Future markets of the world. elf
4 you can get 10 cents pound for nearly
/ 100000 of bales,' he urges, "you
/ certainly can get the worth of the crop
that is many millions bales less"
4 Mr.. Sully contends that the last
Z years crop, with the exception of
i few thousand bales. is now marketed.
Last years crop was 13,693,000 bales.
i More than 100000 bales have already.
been sold, while engagements have been
made by the mills for from six to ten
months, and in some cases year. The
worlds consumption Of American cot
ton on both sides Of the Atlantic and
8 across the Pacific during the last year
was 11,Ss3,000 bales, against 10,193,0 600
for the year previous.