The Bridgeport evening farmer., 1914-07-31
FALL IN COTTON
 PROFITS CITY
 SPECULATORS William E. Burnham Says Closing of Stock Exchange
 Is Useful. SECURITIES LIKELY TO
 BE FIRMER RE-OPENING Bridgeporters Believe European War will Create Demand
 For American Goods.

Lively scenes were enacted in the board rooms of local stockSbrokerage concerns as the bottom dropped out of international stocks and bonds yes terday, with the rumored making of fortunes by several Bridgeporters who sold short on the market. The day is credited with being the biggest in five years in this city. Today it is said would show more trading if the New York stock exchanges had not closed was the. opinion Of the bankers and brokers of the city today. Clustered in groups In all the banks and brokers offices today were the leading speculators Of the city, ear nest1y discussing the general war sit uatdon and the closing Of the New York stock exchanges. It is stated that, with the decline of the cotton market to 200 points. large buying was done in Bridgeport, though margins were high.
 The demand for cotton drilling and other fabrics will give those who bought yesterday and today enormous profits spelling fortune to those most heavily interested The names of lo- cal manip1Iators were carefully guarded by all brokers today. A local Water street commission merchant is credited with cleaning up $10,0O0 in less than an hour yesterday, selling short.
 The ccnceusus of opinion in banking circles today is that Bridgeport will be aided by the closing Of the ex- changes in New York It is asserted that they should have shut down yes terday, as America was being made the dumping ground for floods of Eu- ropean securities.
 The action will have a stabi1izing dnfiuence on all stocks and bonds upon the reopentng oe the exchanges is the current prediction of local bankers and brokers.
 William E. Burnhaz1 a director of the Connecticut National Bank, stat ed that dnanc1ers in Bridgeport view the situation without anxiety and that the general trend Of business The, action of the New York ex-l changes were looked upon as 8 pre- ,cautionary measure that would great ly lessen the wild trading that char acterized yesterday, and that with a general realization that America would be gainer by the war moves, industry would probably be given azn- petus.
 T. L. watson & Company stated that trading yesterday was above nor nal and that the closing of the ex- changes following the big short sales of yesterday would little affect bus mess interests here They believed that the exchanges would resume bus mess on Monday. although. if the ten- dency towards wild speculation con- tinued, the closing for a longer period would not be criticised by local in- terests.
 At the brokerage offices of Edward Gran, it was expected the market would open Monday, but that ex- changes would not open before banks saw their way clear to extend loans to brokers The tendency yesterday had been To sell short, and, while 1t was reported that great fortunes had been made here on the short side, it was believed that such rumors had been greatly maEnihed Some cleaned up, while others were caught in the market.
 At the brokerage offices Of N. L. lsCarpenter & Company, liquidation was the keynote yesterday, with do- mestic stocks remaining about normal and foreign selling the greatest in re- cent history They believed that the New York exchanges would remain closed for at least three days and that the closing would be a. good thing. The prediction was~made that at the reopenine prices would remain stable
 While cotton had been traded in ex- .tensiveIy during the opening hours of the day the announcement Of the Pen failure had a Quieting effect upon bpecu1atorS here who were chary of selling short as the market dropped l 200 points off the normal. N