The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-02-26

solved, or rather resolved INTO tnree. Inc
vaporous, fuliginous original-to borrow an idea
from the nebular hypothesis-threw on three
rngs-the houses OF Willard, Martin Co., Joslyn.
4 Chapfn-in eacn OF when Jay Gould and Henry
N. Smith are special partners you VIII observe
that these last mentioned gentlemen seem sort OF
tinrnclal Faeins educating boys to pick pockets
and then setting them up In business or taxing
them INTO parsnersnlp.) 1t was wondered when
these Lhree concerns
Three firms with bu, a single thought,
were created, what devitry was going on or con.
tempated. and the first revelation Is this Hannibal
and st. Joseph business. Now you Will be able 10
understand the DRIFT OF the following letter sub
United to the Governing Committee OF the STOCK
Exchange by an aggrieved concern:-
NEW YoaK, Feb. ID, 1879
OF Iaa n1sf ssasmen Of faets
Hannibal ana st. Joseph Railroad stock the cercate
being signed BY Co. and Sooa a eang
that stock Messrs Osborn Chaplin rendered us cate
new not soss a:S 9s
Stock ~, In we s %
house from whom we bought the STOCK the rule ten
before reiassd from Mss.r. Osborn Chaplin acting ioI
the same grincpam Carver We were o,s ssf S1
Ss. Jo. SSS s. che co. late
ned check in REPRESENTATIVES custom street
Ts sS % TO s Uns a
Of which fact pro%psd the md A. grsn.
ders and thus came at last possession OF the s'ock
We that in our dealings BY the decisions
Of the Stock Exchange anc conform to the customs OF the
@ that IN attempting to thrust stock
good delivery, Messrs Osborn chapin manifested con-
temp. FOR s which should psI@sS, 70 pass
tenders from US At late hour q the ~
only proyocsoh being that had demanded from
had loaned them and to which we were entitled We sDg
tnauguracd precedent which, II established, would not
only smbarrass stock but virtually put an end
expect house to abide BY the decisions Of the Board and
to violate them with mpun In endeavoring to obtain the
good stock TO which were entitled we were met at every
We submit tina. the recently introduced system of
federae sufficiently illustrated itself In the trans.
actions OF yesterday TO make some action on your part
into Wall street should be suppressed or At
arg held By the go
There are three thimblss and only pea Gentlemen,
that E. H p :. /: he tn;
Friday Winia%," "HanpbAl the ,,s so ss.
Finally s the STOCK
mercal ourselves,
from the necessity Of accepting the contracts Of
aavns further " With any
fully yours, WEBB HUESris.
IL seems clear to me that the Stock Exchange
ought to take some action in the matter OF these
three houses for the sake OF its own reputation II
not for the protection OF honest members. ms
honorable body Is too lax IN Its grip. Aside from
the three In regular piratcal commission just men.
toned, there other long, low, suspicious craft
that are always In the Ofng for any vllainOus job
that may OFFER, sure 70 turn up In event OF any ais
reputable transaction being on hand. In this II. "
st. j. business we see the same "scalpers" mainly,
that showed IN the gold corner. For instance,
there has been nothing out OF order and OdOr III the
whole history OF the Stock Exchange that GER
tain long, lamentable Individual In particular has
not been connected with. The 'Great American
Deer" however. should not be blamed TOO severely
Tor getting INTO scrapes, since 1t would be simply by
q miracle that he could keep MS feet out OF any.
thlng-"He must have somewhere to STEP" as
brother broker remarked, on whose toes ne tr0d
the other day.
Certainly the Stock Exchange ought to do some
thing to purge itself o! the unworthy members VINO
all working in one viilainOus interest, are con.
cerned II they can be reached by no known rule,
little California justice might be applied with some
propriey Ii Is all very well to cry that nothing can
be d0ne that there is no use IN fighting SUCH ras-
Gals. The same thing was SAID Tor years as re-
garded the Tammany thieves, but when honest men
went to work with a will down came their house.
One thing of two should not be delayed-either
abandon Wall street TO thieves altogether, or Weed
1t OF them. JOHN PAUL.
WALL STREET, Feb. II, 1872.