The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-12-06
eusrenston OF Jacob LittIo 4 Go.
GREAT ExCiTEMFNT IN WALL srxkET THE n
foBTED FAILURE or HsssHAw AND SON, o.
BOSTON.

/ susrension OF Jacob I.ittIs 4 Go.
| ekEAT ACiTEMfNT IN WALL srKkET THE KE-
| fosTED FAILURE or HSssHAw AND SON. OF
BOSTON.
Wall street yesterday thrown into s.a,e OF gres.
excite nsnt in consequence OF the announcement Of the
i'ure Of Jacob Ie the great bear the stock board
In this city aud shut also Of Benshaw soa OF Boston
in the aggregates for the Of millions of
dollars.
Ny. Little sonouncso personally at she board In the
morning his inability 10 his cngagemerts, but
ostyed TO comI4ete a hs outstanding by pay
Ing up bis differences at the days quotations II 10 IN
derssood that hs creditors will almost without excopoa
come into the proposed gemezt The ortstssdfn
contracts are to enormous amounts.
II seems that Mr.. Little largely short In stocks
chiefly In Western railroad shares, probably inciudns
considerable amount Of Erie There were many rumos
regarding the amount he bad sold, OF which
no doubt exaggerated Tho probability Is that tho
Der OF shsres which Lie had foid, short tme
amounted 70 about 100000 or 10000 we undcrstsot
that he offered to settle his contracts the prices or ocs
yesterday, but announced should this proposition be
declined and stocks should continue sdvsnoe that he
would be unable 10 fulfil his engagements We learn thaA
some of his largest creditors acceded his propcsAss
while others had not decided how they would act, 40
they doubt wished for tine to oonsnit their ccnsstu
ents. Is likely all viii into tn when 10
s considered iha, Mr. Little has alwt great Kbe
raiiy towards others whom he bad geued smisr
advantage. and generally wiling accept or any diff
ferences they able to pay.
The nteIge nee from England by the steamer OF the
large arrivals OF gold from Australia and the rise ooa
sos has had s effect American operators and rAisel
the price OF stocks jump this ssste CT things M
Little doubtless foreseepg his utter ability 20
toastsnd s at The c ofhis w,l be aore
distinctly seen in day ortwo aud involvenens " oshev
parties who based their oper,hens the contracts
Of Mr. Little must also be extensive and heavy At Ne
second board stocks up Thursday g trsss aoA
there are many reasons Why such q result would be
struggled for by those who denver at the prossas
rates When the hypothecated stocks are however rs
sorted TO By the lenders OF money the s,reetwhs
hold them as security-we shall probably thsn see Q
considerable decline. The great bear oappeering for
time as purchaser, The supply will exceed the do
mand
In 1858 Mr. Little found himself IN very much the
same prcdcament, and settled his differences by his
notes having six, twelve and eighteen months run.
These were taken up before maturity aud probably she
san meas ures will be resorted this occasion. HIS
oases are estimated at about million OF dollars bu,
his friends appear confident he will able to respsad
whatever the sum may be- All those time bargG,ns -
our readers doubtless aware, arc sr ,sly illegal
Their security tha only OF the honor Of contracting
parties L. understood that ar. Little continued his o..
cinary operations esterday, notwithstanding hls sus-
pension and probably in for;nighps time tie whole
affair will blow Nothing hut the noa naagraaoa
viii pct end TO Wall street speculsiors AMI w.u
street swindles An ordinary earthquake would uos
trouble the operators at ALL The failure In this city was
that OF . tear-ifat in Boston Of bull