The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-02-16

These figures show considerable falling off OF net
profits for the months Of December and January, as
compared with the corresponding months year ago.
1t will be borne in mind however that the Delaware
is now and has been for several weeks, fast closed
with ice and that no coal has been could be ship
ped for period of time altogether unheard Of in any
previous winter. The expenses in the workshops, in
getting the machinery in good order for an active
spring business have been about the same as ifthere
had been large tonnage in coal Indeed the check
to the trade which the closed navigation has caused
has probably afforded opportunity for nore than the
usual repairs to the rolling stock.
Our remarks day or two since in relation to the
delinquency of certain bear operator in certain
railroad stocks, having been alluded to by cotem-
porary, it is necessary that outside spectators
should more clearly understand the facts Of the case.
A broker in Wall street makes contract to deliver
say 800 shares OF Michigan Southern Railroad stocks
at 90 per cent, buyer ten days. This gives the
option to the purchaser who can call, at one days
notice for the stock any time within the period of
his contract or the option to let it run to maturity
The contract, on the part OF the seller is to deliver
80 many shares OF stock not to pay or receive any
difference that may exist in the price when the time
expir,s. It is a stock transaction between two
marty SO determine. In the matter referred to
there was q contract TO deliver so many shares OF
stock at such time aud at such price. That con-
tract YVES not fulfilled at maturity, and the affair was
not arranged until some time after. The party
holding the contract was put to serious
inconvenience by the delinquency of the
seller; bot in consequence Of the arbitrary
manner in which prominent party in Wall
street does business, particularly when prices
are largely against him, there was no appeal and
no way at the time OF avoiding the difficulty. The
receiving party was peremptorly informed that the
stock could not be obtained and therefore could not
be delivered. The only difficulty with the delivering
party was the price. There was stock enough in the
street at price, bat that price too high to suit
the notions of the seller and it his pleasure not
to submit 10 the sacrifice required The object evil
IDENTIFY was to gain time, and the movement was sue
ceesfu TO the injury OF parties who we're fully enti-
tied to ALI the benefits of The advance in market value
and scarcity of stock.
We first referred to this matter for the protection
OF outside operators and they should for the future
be careful in giving their orders for the purchase
or sale Of stocks The Board Of Brokers Is daily
becoming less and less respectable. A few years
AFRO membership gave position and credit in
the stock market; bat AZ at present organized.
Il enjoys very little public confidence. The
principle upon which some Of its prominent
members operate, places them upon level
with the "artlsts" of the low gambling houses Of
Canal street. with large lots Of Mutual Safety
Scrip IN their pocketbooks. they retain at the board
heir decoy ducks, who are bound, ~ they value
their scot q follow servlely the dctation of their
er edters. II Ia not an extravagant estimate TO pu,