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Show SULLY BACK IN MARKET .V '':. . j Daniel J. Sully, who engineered several ycara Sfiii m $' aK tho most gigantic cotton corner over attempt-j: attempt-j: ,', d. c,' an1 wno ,ea tho biggest bull market tho Now '. 'r "SpC '' York exchango over saw until ho failed for somo-' somo-' ',m thing like $2,000,000, is reported to have entered tho market again. .' vit Tlie rlso nntl fnl1 of Dan,cl J- Su,,y mar,s an tT ml interesting epoch in Wall street. Absolutely un- 'HMte nown 'n this great financial district ho plunged M nt onco 'nt0 BPcculatlon with tho assurance and intrepidity of a veteran, with tho nvowed purposo 11 f controlling tho cotton of tho country. In threo (iLy' months lio rnlso. uG mnrket valuo of tho year's j j$k;-" cttn crop moro than $130,000,000, Bending the ffi'yLyC2r ""t prlco from seven to 17 cents a pound. In that (' -..fT r ' ' brief tlmo tho namo of Sully traveled around tho world, and ho was tho most talked of man in finance. Ho violated tradition by staying In tho bull market for months and making mak-ing from $8,000,000 to $10,000,000 profits. Ills creed was: "Tho demand for cotton is constantly increasing. Under the wnstcful system of planting that has gono on for years our supply falls, nnd will for somo tlmo to como cod-tlnuo cod-tlnuo to fall to keep up with the Increasing demand. Tho price, therefore, , Is bound to rlso." With this belief he continued his speculations. Hut tho turn camo. With- I In 24 hours ho buw $2,000,000 of his profits gono nnd tho prices wcro still ! sinking, and tho word had gono forth thnt tho market would, bo smashed flat. Tho clamor of tho ring swelled Into a continuous shriek as ono selling order after nnother wns executed. Tho closing hour approached. Tho gong Bounded Bound-ed nnd Sully walked from tho pit two millions poorer. Later camo a notlco of tho suspension of Daniel J. Sully & Co. This was In March, 1004, and "Sully, tho Cotton King," was dethroned nt last. |