The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-04-17
CROOKED" PUTS AND CALLS.
THE BUSINESS OF WALL STREET FIRM IN
THE ARTICLES.

THE BUSINESS OF A WALL STREET FIRM IN
THE ARTICLES.
L. w. Hamilton 4 Co do business at No. 10 Wall
street, they what Is technically termed put and
calI'' brokers; their advertisements in nearly
every newspaper, and their circulars are scattered
throughour the land instruc,ng tho rural inhabitants
how 10 make fortune in Wall street IN ono day. One
OF tlcsc documents, which shown TO HERALD
reporter yesterday by who claims to the
agent OF gentleman who has been neeced by thcm
as iollows:-
pay particular attention purchasing stock privileges
ana as sa~ "H snsd By msr d the New York Stock
Exchange tine best market rates Contracts purchased
BY subject their order for which certificate Of
81 the market and SETH, PRIVILEGES a. the mos. favorable
time IL that we should retain the contracts In
Now 1t is well known that all legitimate puts and
calls other prvilegesf any oi them be called
legitimae--arc invariably signed by members Of The
Stock Exchange capitalists well known and OF
disputed credit The mere fact OF a nrm wishing 10
the contracts they negotiate for their clients IN
their hands is IN itself suspicious; but this -
what happened to Philadelphia Spectator, as mar
rated BY his agent the HERALD Office yesterday The
following documents were shown In support Of his
orr.cn or L. ". HAMILTON 4 co.,
NV York. Jan. Is 1870.
vi bran snws SsSs purchased for thirty
day cali on shares Of the oae and Missi
SGn ssia b ~
No. 5.2i3. L. W. HAMILTON y W.
NEW yoex, Jan. Is. 1875
Mr. A -. Philadelphia
DEAR srRwc have purchased for yonr account thirty.
Company, ~ OF the value which
Is held BY subject to order Respectfully
No. 5.2l2 l.. W. HAMILTON ca.
Now to show the course OF these peculiar
lions, Is necessary 10 copy two more letters OF the
nrm:-
Nsw YORK. Feb. ., 1876.
DsaR STRIVE have settled your call 100 Ohio and
Mississippi 2.5sa. the o'clock board. We
We could have settled II this morning 24 but by
Of stop authorized TO do fhis settlement
places your credit $500 less commission for closing.
DEAR Srn-we called the Pacific Mall Monday morning.
~ did receive the stock whom
had the contract agreed settle AZ that gure which will
ceive the these Contracts viii you.
The total amount Is S75. Respectfully. &c.
Now here another crooked part OF tho transaction
IN Mr.. A. sends order TO New York Tor
his money, but receives II not His agent he's order
for u, but upon presenting Il Ind Mr. Ham
ton finally he Is told that there Is money for
HIM, but he have the contracts, tho parties
have not yet paid up. The agent, upon examining the
contracts. found that they signed by one {. II.
Garland who unknown nc the stock Board and
likely 10 be COMPOUNDED with Captain John r. Garland,
a reputable MEMBER Of tho Exchange The call and
spread shown 10 the HERALD reporter was
HAMILTON
themselves. thing irregular and ut variance with the
custom OF honest dealers, and also contrary 10 ham
ton X Co : own circular issued that their privileges
swcre all signed 10y members Of the stock Exchangc
AZ all events the agent OF the fhilaicphian has not
been able 10 collect dollar his spcrniaon his call
4 ~ vain ana hs spread has 50 Tar awaited h'm n"th