Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1911-05-19
COTTON MARKET BULL
CAUSES HEAVY BUYING
100000 Bales Are Pur-
chased in New Orleans
Market at Regular Prices

NEW ORLEANS, May 17-Franl B.
Hayne. the cotton bull leader. startled the
local cotton world this morning by bid
ding the market price for 10000 bales
each or May and July cotton and by bid
ding Is over the cotton exchange quo
tations for any or all the spot cotton In
the city.
Mr.. Hayne shouted out to the members
who had hurried TO the future ring that
this last bid was open all day. More
over he announced his willingness TO
accept any grade from low ordinary to
fair
The market was thrown into much ex-
element BIZ Mr. Haynes heavy bidding.
Leaders on the bear side quickly reached
the ring. but they showed no eagerness
10 pick up the gauntlet thrown down BY
the huIl leader. One house did give him
$50 bales OF Nay on his bid for 10000
bales and Mr. Hayne accepted the cotton
and yelled for more Since May IS spot
month. and over half gone at that. this
was equivalent TO a spot transaction
The price was I5.6s or about 2 points
over the price OF middIing spots on the
boards twenty-five points means IN
money 81 10 a bale. Therefore. Mr.. Hayne
maid that much more for spots than the
cotton exchange quotations said spots
were worth
The market opened very quiet Al an az
vance OF to points on indifferent ca
bles- Weather reports and the map wers
more favorable than otherwise and the
market would have 'sagged on after the
call but for the support from Hayne-
Rcaluers were feeling out short cotton
when Hayne stepped 70 the ring
NAY had Just traded at 15.s6 and July
was trading at lisa Hayne waved his
arms wildly above his head and IN the
powerful voice that cotton brokers know
so well. shouted out that he wanted 70
buy 1900 May at 15.6s; then he made
the bid OF 1856 for Ike amount OF July
Suddenly he increased his bids 10 o.
600 bales. then to 100, 600 bales, and then
sndfrated his willingness to take all the
NAY and July cotton the market had for
SEE at the price on the boards. Here II
was that the 500 bales Of May were hand
- hin bv the bears Apparently this
vas an the AMMUNITION the short side
had. for Il was all the cotton that. Went
in Haynes direction Then followed tne
hid OF an eighth over quotations for al
the spots IN the city This was one OF
the most remarble bids ever made IN
this cotton market
re health Of ". II. Brown. who has
a1wavs. until a few months ago. been
m the lead on the bun side continues bad
ana Hayne Is virtually carrying on the
hui side OK the market. single handed
Fa f. acknowledged 70 be the master
Of the spot In New Orleans.
Although not in his usual health Mr..
Brown was on the floor OF the ex-
change today and IL is the general eeher
that ne is giving his moral and financial
support to the bull campaign
HAYNES bidding had sympatneuc
effect on the entire market and al noon
futures were 9 to points over yester-
dax closing quotations Even after
NAV had advanced TO 1870. Hayne yelled
forth an offer for 10000 bales Of Nay
at that figure
HAYNES offer OF Is OF a cent above
the exchange quotation for spots Is ex-
pacted to result in the board marking
spots up this afternoon