Business & Finance: Cotton Crop

Completed last week by the young New Orleans cotton house of Tullis, Craig & Co. was one of the smartest cotton market operations in many a moon. It was not a spectacular coup. Indeed Partner Garner H. Tullis tried to pooh-pooh accumulating gossip with a signed statement: "I wish to state in regard to the so-called operations of our firm in December that the entire story has been greatly exaggerated both in magnitude and effect."

Weeks ago, foreseeing a shortage in good grades of spot cotton, Tullis, Craig started to buy December contracts, which...

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