The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-05-01
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.ONC0TT0NCORNER.
Attorney General Asked for In
formation as to Indictment
of"Bulls."
SERIOUS ACCUSATION
Widely Talked That Department.
Of Justice Allowed Itself Z
to Be used"
lspeelal 70 rhe rlme s.pispatch.l

Especial to Tho Times DiSpatch.1
i Washing ton. April 30.-The wall
Street bulls" and bears" are to have
an inning at an early date under the
several resolutions just introduced In
Congress thy Representative Blockman.
OF Ala barn..
Tho 90 resolution calls upon the
Attorney General for an account Of
what information he had as a basis
OF tho Indictments obtained against
Frank 3. Haync and William p Brown,
OF New Orleans; Eugene Scales, Of
Texas. and James y. Patten. OF Chi
cago. -
The indictments, charging the men
with forming a pool TO advance the
price OF cotton and with maintaining
Corner" were returned in New York
In May, 1910. practically at the Gull
mlnetion of what was regarded as one
OF the most successful campaigns ever
conducted in the cotton market
There was an instant accuse ton
that the Department OF Justice had
been stirred to activity by the bears
of the Now York cotton market, caught
woefully short and unable TO protect
themselves except at costly prices.
I Tho cry was naturally largest among
farmers and In the South. 1t was de-
9clarcd that the department had per-
mitted Itself to be used in manipula-
ton OF the market.
Mr.. Blackman's first resolution asks
for information to determine the pro-
ccedfngs of the depa rtfnent against
Hayne and others. The two other res
buttons are In line With sentiments
OF the South and the farmers in other
parts of the country. There has been
feeling that while Tor years the bears
Of the New York cotton market were
constantly accused OF combining 10
8depress the price of cotton. there was
never an action against them at law
Almost at the FIRST success OF the bull
operators In New York, 1t was said,
The department acted. Tho second
resolution directs the department to
institute proceedings against the per
sons alleged to have combined in re
ktraint OF trade by forming n pooI 10
corner cotton
inc third directs the department 10
,nsti'ute proceedings against persons
.lieSeu 70 nave conspired to advance
inc PRICE OF wheat by a corner.
The third resolution is made csno-
ciaiiy notable by reason OF the fact
mat Patten. Indicted with the cotton
men With whom he was alleged 10
have operated. was reported n ycar
previous to have been the leader In
INC bull campaign that sent wheat SO
hiSn rs TO cause an Increase I'm tia
price OF flour and bread. though there
- - PiNNScu'H6S against him
any ono else for that alleged com
bination. -.
The Department OF Justice recently
announced that 1t would appeal from
Judge Noyes's decision. and thai II
the appeal were sustained II would
proceed against all violators OF tho
Sherman act who ''cornered" the mar
kets. In the meantime, there have
been many protests against the de-
partTents indictments OF men who
advanced prices.
The men indicted say they acted
independently. Ill the evidence against
them were papers said TO be agree.
menis between themselves and South
ern and New England spinncrs There
were NO indictments against the lat
ter. however.
II is very prnbable that Representa-
tive Blackmcn's resolutions will have
favorable action. The cotton men
have wide sympathy, and sentiment
against speculation in farm products
is strong In the House and among
Si,e people. N
The bears who were not prosecuted.
the bulls say, had sold cotton which
they did not possess. and were there