Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1911-05-19
HAYNE sTIRs THEM UP.
Cotton Bull Leader Took Complete
Possession of Market Wednesday.

Frank B. Hayne, the cotton bull
leader. startled the New Orleans cotton
world Wednesday morning by bidding
the market price for 100000 bales each
of May and July cotton and by bidding
1-S over the cotton exchange quota
tions for any or all the spot cotton In
the city.
Mr.. Hayne shouted out to the mem
bers who had hurried to the future
ring that this last bid was open all
day. Moreover, he announced his
willingness to accept any grade from
low ordinary to fair.
The market was thrown into much
excitement by Mr.. Haynes heavy bid
ding. Leaders on the bear side quick
y reached the ring, but they showed no
eagerness to pick up the gauntlet
thrown down by the bull leader. One
house did give him 800 bales of May
on his bid for 100000 bales and Mr..
Hayne accepted the cotton and yelled
for more. Since May is a spot month,
and over half gone at that, this was
equivalent to q spot transaction.
The price was 1886, or about %
points over the price of middling spots
on the boards. Twenty-Five points
means in money $1.10 a bale. There
fore, Mr.. Hayne paid that much more
for spots than the cotton exchange
quotations said spots were worth.
The market opened very quiet at an
advance Of / to points on Indifferent
cables. Weather reports and the map
were more favorable than otherwise
and the market would have sagged off
after the call but for the support from
Hayne. Scalpers were feeling out short
cotton when Hayne stepped to the ring.
May had just traded at 1886 and
July was trading at 1886. Hayne
waved his arms wildly above his head
and in the powerful voice that cotton
brokers know so we'll, shouted out
that he wanted to buy 10000 May at
1856; then he made the bid of 1886 for
a like amount of July.
Suddenly he increased his bids to
$4,000 bales, then to 100000 bales, and
then indicated his willingness to take
all the May and July cotton the mar
ket had for sale at the price on the
boards. Here 1t was that the 800 bales
of May were handed him by the bears.
Apparently this was all the ammuni-
tion the short side had, for II was all
the cotton that went in Haynes di-
rection. Then followed the bid Of an
eighth over quotations for all the spots
in the city. This was one of the most
remarkable bids ever made in this cot
ton market.
The health of w. H. Brown, who has
always, until a few months ago, been
in the lead on the bull side, continues
bad and Hayne is virtually carrying
on the bull side of the market, single
handed. He is acknowledged to be
the master of the spot in New Or
leans.
Although not in his usual health,
Mr.. Brown was on the floor Of the ex-
change during the day and 1t was the
general belief that he Is giving his
moral and financial support to the bull
campaign.
Haynes bidding had a sympathetic
effect on the entire market and at noon
futures were to points over Tues
days closing quotations. Even after
May had advanced to 1870, Hayne
yelled forth an offer for 10000 bales or
May at that figure.
HAYNES offer of Is of cent above
the exchange quotation for spots COM
PEELED the board to mark spots up.