The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-02-09

Remn risnbie Announcements from the Chris
tiRn Union A Ridiculous Protest.

10 THE EDITOR OF THE SUN-Str' The
Christian linton QIenry Ward Beecher's paper)
comes out with an angry retort upon an edito-
rial adversary who had asserted that during its
career It had been engaged in the business Of
stock jobbing and had been used in the interest
OF financial speculation. The retort IL evidently
from MIR. Deechers own pen and In the course
OF It he snys:
II one religious urnal has been proved guiiv OF
nrotia'lng ~ columns 20 TIC service o great ctpo.
.Tre d the rcy,o re- son ~ Hs open to cg 6c
came mpuationp The 4dr,ras,r does not lnaced Say
protu e IN ms wSs but w4at Il does say us cSu
lated to make such an impression. VI D'oled d0dnd
cnee or suted the advocacy Of this Journal in
mar OF any m ncai or business enterprise whatever
w0"SiG 6oL We nave aimcd to make our advcrisins
9sGGa r IT, best sGs ae sas ans
are our editorial pages.
Now. ! was amazed TO read such language
about this record without blot" for nave
had occ sion to remember some Of the not
yerv ancient perform noes OF the Chrtsti1n
Union In the stock iobbinS limo, and In saying
so do not refer to it, course as one of the re-
ligious org M and buffers Of the Northern + clnc
failure. wO years ago Henry Ward Beech r
was. ms he vet Is, the editor Of the Christian
Union, and his name as such appeared nromi-
PAGE. lie was not only ITS editor, nut he also
was, as ne SIN IS, one Of Its pr9prletors ami
member of its publishing nrfn. Now say, ana
the proof OF the fact is Mt hand, that but two
years ago, this religious publishing nrm used
their own OrEtn, tue Christian Union. as the
medium for the most remarkable announcement
and tue most singular operations. IN the stock
jntbing line, that ever heard OF, IN connection
with religious nawsp iperdom. They announced
T. the lr own columns, from which quote textu-
ally, that
E1'en.ivc connections hive grown IN between the
securities la TIE paper
They also announced that:
The publishers OF the Chrfdfrn linton have been
srohsI WIZ from various qusu,crs uur,hs w pi ~
mater Of AIDING them to invest money In nrstcla's
They therefore announced that;
They vii I'm an un leri to give the
thentic INF rmaon attainable regarding securities.
The proprietors Of this religious paper Henry
Ward iieecher being one Of its proptietors) then
gave notice:
Parties vishins invest money to rel vest coupons
or d'ud', or % convert cur irs OF or knd Into
ami their business will De promptly attended u with
| out charge or expense 60 them.
| They then proclaimed the special advantages
that accrued to those who m de their invest
ment@ or did their stock jobbing through the
Christian tnton, the cnlef of which were:
/. reliable source Of Information concerning Sc
curl les. The saving OF al prose = commission, bv
| great financial houses
1t was finally announced that all communca-
lions relative 10 .uch Investments wer, To % al
dressed TO the " Bond ID sparment OF the Christian
Now. then. was not this nice cisrlav Of stock
iontirg business for the Christ IN Cntou ard its
| propueturs, one Of whom WIS and IL Mr. Beech
| err And what can be thought OF the protest
| now made by this same Christian linton when
It that II never sold tis in renee IN behalf
| OF my financial or business enterprise whatever.
the loficst airs OF innocence, II adds "Our
/ record In this respect Is without hi1tf' II
| seemed TO me nj the time that the Christian
! IHton had struck on novelty ia opening a
! stock jorline bond department." through
which IT'S Christian rea els might invest their
! money and am sur irised that IL should now
| dispute "a RECORD wtich can be found on its own
lilies, authenticated Nv is proprietors.
70 r.sNFN 4 . b. Fh.ta
| twice made that the business would be done for
| people without any argos or commissions.
| TINS looked marvel Gus, and must have been
gate uuaccountablc 10 the unsophlsticatsd sub
/ scribcrs OF the Christian linton. They pcrnaps
| supposed that the proprieturs OF the Christian
| Luton wer" doing the woik IN sort OF iLis-
| sionary spirif. in order to induce mankind to
nv 81 thelr money u. thc ~ nest secur,ties.
| Perh1ps they iohE II the Christian Union did II
| To keen people out OF the hands Of the Wall
stree, br. kcrs. or II cut down the exothltant
| profits OF those trokers. At any rate, II GER
| iuN ppeared rather rem rkhble that some
sisht Gu rec was OF made Tor the labor OF the
agents "employed u transact thu business"
who must have got money somewhere u Guy
tdeir Nictuais.
Perhnp- az itn-for can't help perhapsinc-
the Christian linton got its profit from he suo-
| scrif tiOrs OF pc Jplo who were lndu ed TO take
tue paper ~ a medium through which to invest
their money 90 stock. Perhaps /. made some
thing by sending 90 investors those stocks II got
| in pAVmeut TO-. advertisements from the lead.
financial houses who are continuously adver-
Using IN tue PAPER" Perhaps tie gre u nnan-
cIal houses VIII have business rel ttions with the
pager" allowed 1t percentage on all the stocks
II sold to It's subscribers; 30 that though Invest
J ors .nnear.d ia taV no couuissi,ns ON their
stocks. the Christian Union nevertheless, got
It's commissions. You see that though my
credit the religious paper with benencent and
CHI rita lie Intentions In this brokerage business,
| can't uuuers, and how the agents could work
for nothing.
These stock jobhing operations seemed to me
rather risky for religious paper at "A time when
stocks were killing in ali sorts Of ways, but most
Of them in way that more advantageous
to tue sellers than to the buyers. IL also seemed
to me an Legitimate thing for r, ligous pager.
or any otner paper, to run "A " bond department"
for such transactions. Ii Furthermore seemed
to me that when religious paper did gratuitous
brokerage for parties wishing to invest money"
II must Cestroy its influence On make its name
a scandal. And ! finally thought that Mr.
Beecher should either cumpel his partners to
give up ~ ir all street work for ns subscrb-
ers or bring his own connection with the Arm
10 an end. But, never heiess, the thing went on
for | know not how long, ana now We have tine
angry protest from the sto lbblng organ
winch quoted at the opening Of this letter.
The DENIAL Of the facIs mas stirred up much
wonger In NV mind as the facts themselves did.
NEW YORK, Feb. o, 1876. AGRIPPA.