The Birmingham age-herald., 1911-04-28
WOULD PROSECUTE ALL MAN|PULATORS BlackmOn of Alabama Asks
 For Information INVESTIGATE BEARS Asks Department of Justice to h. stitute Proceedings Against
 the Cotton Bears and
 Wheat Bulls
INVESTIGATE BEARS

Washington. April 27.-cSpeciai.)-Close upon the announcement of the depart ment of justice that it would appeal from the quashing of counts in indictments against alleged cotton bulls" by Judge Moves in New York came today the in truducton of three resolutions by Rep resentative Blackmon of Alabama. ask ing information about that activity of the department and directing the depart ment to institute proceedings against cot | ton" bears" and wheat bulls" The first of Representative Blackmon's resolutions calls upon the Attorney Gen eral for an account of what information he had as a basis of the indictments he secured against Frank B. Haynes and William P. Brown of New Orleans, Col Robert Means Thompson of Washington, Eugene Scales of Texas and James A. Patten of Chicago. The indictments. charging the men with forming a pool 10 advance the price of cotton and with maintaining corner" were returned il May, 1910, practically at the cuminatcn of what was regarded as one of the most successful campaigns ever conducted n the cotton market.
 There was an instant accusation that the department of justive had been stirred to activity by the bears of the New York cotton market, who had been caught woefully short and unable to protect themselves except at costly prices. The cry was naturally loudest among farmers and in the south. It was de- clared that the department had permitted bo in nj at of hn market.
 MT. Blaekmons s resolution asks for in- formation to determine the proceedings of the department. The two other resolu- tions are in line with sentiments of the south and of farmers in other parts of the country. There has been a feeling that while for years the bears of the New York cotton market were constantly and plainly accused of combining to depress the price of cotton, there was never an action against them at law. AL most at the first success of bull op- orators In New York the department acted One of the other resolutions di- rects the department of justice to insti- ute proceedings against the persons all legged to have combined in restraint of trade by forming pool or corner to lower the price of cotton.
 The other directs the department to institute proceedings against persons all leging to have conspired to advance the price of wheat by 9 corner
 This third resolution is made especially notable by reason of the fact that Pat ten. indicted with the cotton men with whom he was alleged to have operated, had been alleged a year previously to have been the leader in bull campaign that sent wheat so high as to cause an i'm in tha nrio Of though there were no proceedings agains. him or any one else for that alleged com- binaton.
 The department of justice recently an- nounced that it would appeal from Judge Moves decision and that if the appeal were sustained it would proceed against all violators of the Sherman act who "cornered" the markets. In the mean time, there have been many protests against the departments indictments If men who advauced the prices of farm product, while the other side of the mar ket was untouched
 The men indicted declared that they acted independently. Among the mat ters introduced in evidence against them were papers said to be agreements be- tween themselves and southern New Eng land spinners There were no indictments against the latter, however.
 It is very probable that Representative Blackmons resolutions will have favor able action. The cotton men have n wide sympathy, and while the sentiment against speculation In farm products is strong in the House and among the peo- pie. the cotton bulls are prepared to make this point:
 The bears who were not prosecuted were men who had sold cotton which they did not possess and were, therefore, shor. in the future market and unable to cover except at havy loss; the bulls had bought cotton on contracts and stood ready, money in hand, to take over the spot cot ton.
 '1f there was gambling" one of the cotton bulls said recently, 'it was done by men who sold something they didn't have and couldn't get Surely it wasn't done by men who contracted to buy cot ton and had the money to pay for it."