The true Democrat., 1856-12-30
NO. 12.
From the N. Y. Herald, Dec. 6 Suspension of II. Iitfte .S Eo

"PS"'Ao" VI Aslttte N COs
 Wall street was yesterday thrown into state of great excitement in consequence of the announcement of the failure of Jacob Little, the great bear of the stock board in this city, ana also that of Henshaw & Son, of Boston, III Ihe aggregate for the sum of at least ten mil lions of dollars.
 MT. Little announced personally at the board Tn the morning his inability to meet his epgage- ments, but offered to complete all his outsand- Ing contracts by paying up his differences at the days quotations. It is understood that his creditors will, almost without exception, come into the proposed arrangement The out standing contracts are to enormous amounts
 It seems that Mir. Little was largely short in stocks, chiefly in western railroad shares, pro- baoly Including considerable amount of Erie Ihere were many rumors regarding the amount he had sold, some of which were no doubt ex- aSSerated. The probability is that the number of shares which he had sold, short or on time, amounted to about 100000 or 10000. We understand that he offered to settle his con- tracts at the prices of stocks yesterday, but an- nounced that should this proposition be declin- ed, and stocks should continue to advance, that he would be unable to fulfill his engagements. We learn that some of his largest creditors ac- ceded to his proposition, while others had not decided how they would act, as they, no doubt, wished for time to consult their constituents. It lssllkely all will come into the measure when 1t IS considered that Mr. Little has always shown great llberality toward others over whom he had gained a similar dvantage, aud was generally willing to accept of any differences they were able to pay.
 The intelligence from England by the stea- mer of the large arrivals of gold from Austra- la and the rise in consols, has had its effect on American operators, and raised the prices of stocks at jump. In this state of things Mr. Little doubtless toreseeing his utter inability to 50 on, came to stand-stil at once. The con- sequence of this will be more distinctly seen in a oay or two, and involvements of other par ues' who based their own operagionso on the con- tracts of MT. Little, must also be extensive and heavy. At the second board, stocks went up to Thursdays prices, and there are many reasons why such d result would be struggled for by those who are to deliver at the present rates. When the hypothecated stocks are. however, resorted to by the lenders of money in the street-who hold them as security-we shall probably then see a considerable decline. he great bear disappearing for time as purchaser, the supply will exceed the de- mand
 In 1855 Mir. Little found himself in very
 
 much the same predicament, and settled his differences by his notes, having six, twelve, and eighteen months to run. These were taken up before maturity, and probably the same measures will be reSorted to on this occasion. Ills losses are estimated to be about millionof dollars, but ms friends appear confident he will De able to respond, whatever the sum may be. All these time bargains, as our readers are doubtless aware, are strictly illegal Their se- curity is that only of the honor of the con. tracting parties. It is understood that Mir. Lit tie continued his ordinary operations yesterday, notwithstanding his suspension, and probably In fortnight's time the whole affair will blow over. Nothing but the final conhagration will put an end to Wallstreet speculations and Wall street swindles. An ordinary earthquake would not trouble the operators at all The failure in this city was that of bear-that in Boston of bull