The Dawson news. (Dawson, Ga.) 1889-current, 1910-12-07
THE STRUGGLE OVER COTTON
PRICES GROWS FIERCER
ALL THE TIME.
Disastrous to Small Operators

This Year Has Been Most Remark
able in History of Cotton SPecula-
ton Since Men Went Crazy Al
ter the War. How the Game Is
PLAYED in the New York Ex-
change.
In the struggle over cotton prices,
which has been becoming fiercer
and fiercer since 1898, this is the
greatest year of all. 1t is the "Pat-
ten year" in cotton history, for
the same reason that 1908 and 1904
are "Sully years"
Between March list. and Noyem-
Der 1st., James A. Patten Of ChiCa-
go became Cotton King" by the
same right which made Daniel J.
Sully of Rhode Island cotton king
in 1903 Both these men were lead
ers of combinations which went in
to the New York cotton market and
controlled it against combinations
of cotton spinners and others whose
combined interests il this country
and Europe easily represented not
less than 500, 100000 of capital
and also the political influence of
the worlds strongest governments
This year has been the most re-
markable in the history of cotton
speculation since men went to luna
tic asylums from New York Ex-
changes after the civil war, crazed
by specializing in cotton and gold
Hardly less than then, the fight
over cotton has become quieter and
quieter until in 1910, though many
insiders may have had one brain
storm after another, the public has
not caught the craze"
1t is we'll it has not Instead of
being wild hurrah over a gamb- |
ling crusade, as it was in the Sui
ly years" cotton speculation this
year has been a desperate contest be-
tween leaders of organized forces in
Europe and America, ruthlessly in
telligent in their method and al
quietly as possible. Even New York
City itself, where the fight was rag
ing, hardly knew it was going on
until on April 18th. it was learned
that $4,000 bales of southern cot |
ton had been imported to New York
from Liverpool
When it began to appear that cot |
ton was being rushed to New York
from England by the shipload and
from st. Louis and southern
cities by the trainload Ito break a
corner New York suddenly became
interested, as the whole country did
when in June the Taft administra-
ton interviewed to ''pacify" the mar
ket 1t did this by indicting Cot
ton King Patten and his entire cabi-
net for conspiracy.
This was the first time in the
history Of the United States or any
other country that anyone has ever
been indicted and arrested for buy
ing real cotton at higher prices than
others wished to pay. Prices drop
ned for few DAYS. but on August
18th, 30th. and 31st.. at the close
Of the cotton year, the cotton king
answered by putting prices to the
highest point recorded in over 80
years
As an international struggle on
the New York cotton exchange the
"JIeH corner LnlS year had in it
or back of it the veterans who had
been at the front or in the reserve
in the 'Sully years" when New
York went crazy" over cotton.
with the craze spreading until even
women in small towns a thousand
miles away gambled their small
savings on the doubtful chances Of
victory for enc side or the other
in New York.
The difference was great. pat
tens corner" was a sure thing in
real cotton. Sully was king of a