The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-12-15

nero nave appeared Of Ate In many Pfomiheas }oos
mails throughout the State Of New York, articles dsnun-
ciasory Of prominent banker aad troker who has re-
Gently had the misfortune to suspend payment on account
Of bis Losses in stock specuatoas Apart from The IN
usual want Of charity and sym,aby exhibited In these
articles, there appears in Of them 80 vndcsive
spirit and such unconceaed 1t the fall Of N indvi-
dual hitherto universally Of peculiar bust
capacity and whose influence Change has cef-
tSiny far surpassed that attained in this country by
any other in his line, that Of peculiar character
must been At work 10 excite unseemy rejoicing
over the dacomnture even Of foe.
The most bitter and violen. OF these articles
appeared in the Albany Evening Journal In this article.
Mr.. Jacob Little, the suspended banker and broker
alluded TO- pictured "iyng dead crushed under an
avalanche Of short stocks" With p,ns OF triumph his
fall is hailed his grave which they picture TO them
selves and the public, danced ami spit upon, and IN
cusion, all the crimes ami defAlcati0ns we'll
individual losses which have grown out OF ar inaased
credit system. and = palming of upon the public
many worthless stocks by interested parties are falsely
attributed to MIN who moat consistently opposed them,
and whose warning voice, II listened 10 In time, woad
have saved many fortune nom ruin and many do pes
from the msfortunes that have attended their blind
duly. Let for the OF thi
hostility and examine into It's justice Very early In the In
ception OF railroad enterprises In ths couutry Mr.. t,
lending his talents and fortune 70 the otnsss
undertakings. HIS itself tower OF strength,
sought tor with avdy In many cf these enterprises add
the sobrquet Of the 'rarosd king" by which he was
for many years well known, sufficiently sttests the
value or his services and the zeal With which they
given. After many years experience OF railroad manage
ment Mr.. Little perceived that the low rates OF fare do
manded by the public and the building OF parallel lines
wherever undertaking promised partial SUCCESS,
rendered not only douba any profit to these concerns
but he also found himself considerable loser by his
liberal efforts to sustain them. With these facts
came the conviction from intimate knowledge
Of their internal affairs and management that taking
consider alton the deprecao Of their property most
Of these enterprises must be attended with loss nstea Of
profit the stockh added 10 this the endless sys
tenn joobine encouraged by the the managers many
Of these roads, by which profits were secured TO them
selves and friends independent Of any dividend upon
their STOCK the practice Of ping up debt debt in
the shape mortgages and bonds upon these roads, the
declaring dividends upon stock which his experience
suHiced to show not earned, and which were
than counterbalanced by large accumulatons Of floating
and funded debt-a these facts suced 70 induce him to
change his posision and from lending them his and
fortune his voice in warning against such whole
sale gambling with pubic interests, and playing upon
public ca eduty. How true his warnings, how
his opposon such schemes the history Of railroad
enterprises In this country and In have already
shown to . certain extent. and {there arc many who
believe with Mr.. Ltle) will show moro fatally . few
years hence. II ID natural that the change In Mr. Little
from warm friend to . decided opponents Of these enter
prscs should draw down upon him the hostility Of those
who, from whatever motives, continued 10 uphold them.
These few Of the OF animosity TO whore
prompt business habits, whose incorporating honesty,
have won for him envisble position and troops Of
friends who will stand by him in the face Of obioquy
and abuse. To those who are familiar with the history
Of the Stock Exchange for tho last quarter Of cen
tury almost unnecessary 10 recall te generosity
and nberaty OF this sentleman-.he nberAity with
which misfortune the part Of others has been met by
prompt release from Indebtedness and kindly encourage
ment and assistance to retrieve their position.
Asynopsis Of the annual report Of the New York and
E,ie Railroad Company has just been pubhhed. gives
merely the figures showing the earnings and expenditures
for the year ending Sept 80, 1856
ID