The Birmingham age-herald., 1908-08-07
.LVERMORE'S FIGHT AFFECTS THE SOUTH Caldwell Discusses Cotton Kings Bull Campaign RECOGNIZES THE FARMER Predicts That Livermore Will Make Success Because He Realizes the
 Farmer Is an Important
 Factor In Cotton.
RECOGNIZES THE FARMER

The spectacular bull campaign of Jesse L. Livermore on the New York cotton exchange has attracted wide at tention in Alabama. John A. Caldwell, formerly of New York but now so- journing in Birmingham for time. talked interestingly of Livermore's life and methods last night Said he
 "The south should send up vote new cotton king. He has again checked the downward course of the staple when all the world had turned against 1t. Poor trade conditions have played havoc with the textile industry all over the world, and the spinners have been travelling over hard roads for many moons. Enforced curtailment for the want of profitable orders has been the cry of the spinner. Tn en the New York contract has been so un- mercifully attacked from all quarters of the globe that the average specula- tor made up his mind in view of the poor trade conditions, rotten contract and the promise of a record crop that the only thing to do was to sell, sell, and stand pat until pay day.
 This young Napoleon, or speculative genius, keen a razor. daring and i bold, saw one thing that evidently the i seller of contracts overlooked, namely: i The financial strength and independ- ence of the southern farmer. Reckon ing with this condition, as a fact, MT. Livermore has quietly and alone ab- ! sorbed an enormous line of the nearby positions at a discount of about 75 to 100 points parity with spots in the south. Now the farmers union asserts its determination not to sell anything this side of December for less than 10 cents. The actual stock in New York being less than 10000 bales, MT. Liver more can very readily take care of it. He would do the country at large and the cotton world in particular a great favor if he would load about two-thirds of it on scows and dump it in the At lantic ocean, This would clear up ths situation in New York and then let them fix a grade difference in that ex- change that would meet with the re- qirements of the trade. and again es- tablish confidence In that body of legit- innate merchants.
 This young man, less than 35 years of age, is in many respects the wonder of the age in the speculative world. He was practically unknown up to year ago in Wall street. yet he has not been an unknown factor in the markets of i, fO, he was only known to a small coterie of brokers who kept him well under cover and protection.
 He plays a lone hand, does his own tn mixing, takes nobodys advice, and takes his defeats like a good fellow, smiling and unperturbed. He is quiet, unassuming and modest. has few in- timate associates, and finds most pleas ure with a few friends around his home on his yacht, or automobileing. He is generous to a fault with his in- innate friends; but they are limited. He has probably had more headlines within the past year than any man in Wall street. But he does not seek notoriety. Unlike most of the plung- CTS, you never see him in the Hobbies of the hotels with a group of trailers. He moves about quietly with one or two friends, full of business always. Speculation with him is business-not a game of chance. He is a lightning calculator, and has a wonderfully reten- tive memory for data.
 "Only few years ago he was a board marker in a brokers office. To- day he is many times a millionaire, and I predict he will outgeneral the old timers in the fight he Is now engaged in because he has an element of strength with him. in the southern farmer. The average New York specu- lator has very little respect for the farmer. but this young man has figured him as a factor in this battle: and If he wins out history will write him down as the greatest general of the decade"