The sun. [volume] (New York [N.Y.]) 1833-1916, 1888-02-15
Il soHEMr TO ENLIyEN WALL sTnEEE
Has the street Beer Ruiaed sy Disheaest
Hailread Oncialss


Ma. u. street Nee. Ru,aed ~ Dishonest
Hsiiread Omeisiss
The latest1device to improve business in
Wall street was brought out yesterday BY Mr..
Frederick T.. Brown OF H. I. Horton & Co. in a
letter addressed to his fellow members OF the
Stock Exchange. The letter is as follows:
In communication addressed to you two years ago I
advocated the creation of a :. Statistical Department Of
the New York Stock Exchange" to be presided over by
an auditor thoroughly conversant with railroad reports.
To-day the public demands such Information as only q
well trained and Independent auditor can give. The In.
disposition Of tho public to operate in stocks I believe,
comes from the doubt expressed both here and more
forcibly In Europe Of the truth Of directors reports to
stockholders.
All meeting of the Institute Of Banker held on Jan. 4,
1894 in London. the report Of which a siust reached us
s an; r. %i s.5sh for sa iho in r1ms.,Ssn Of rf Ensiisn o SesR u II
people are careful enough In the selection OF the securi;;
. tiss; Os ssd .nfts = no" extreme want OF knowledge OF
a. VI II. ' $.sass sF, q III, SsI English !. Eil' a ssssn 10 n! n AS SSa \
Bondholdera said: Those who play With american
: I s;ss,sss. Sss sa :ssis sS 4. :. s. y: nsiM!i S$sss !: =. s ss s. ny :si; : ssS 5sss
wh., We need 70 restore he confidence q the invest.
ims conn .nsfann WIN P sSs so !, pa s'' MSoss sr rsp sai,i hesa
s sm,nss' e Who sssi! ss sp1s : al in The sS %sas peini Z uncover ,as ear
I Wsn m yya.Id AZ and "a "a, isy . facts alone before tile people.
Fir...We could and.rstsndinely commend securities
70 invsstors feeling ma. Is thorough an examination As
r s:iHs SssiiSi. hss s sssa edge * sE. eur = fs!ias ssi' wan. .elv.n.
a a%. on q I p rsans s ssi'. 80 S ii%i. s &. .% sSq 9 in 10 IL Sns s.ssl II
y ~ s,: .na q; .S Spfai'Sts to o. ' i%s:.,, nsf he , sHS,l' ' bi.. sasl,'9 q
, ,n.1Ssss 3 an .osn Z, that I,.ss their w1 5sRpf :. , Would b e ssst,nl,
N a1s sisnias i s. SSSn = ,n lssss they yf had not Ss t' personally s inVs:ef
"a S5s%iss$i !siiIssss auditor. t. whom ! .sass.stsa
:ss;Ps g ssss:' md q ny nse s:.!s:ss; :ne 3 III, s'n s iss" ' + so 'Hi
probably do II with two preceding reports"
1t NAV be urged that the railroad COmDAuteH would
I lem. II , ISsiE r,s m%ss, j rn: WI. Il III. A.! s.;s M 4 Is Il.
stand a moment under SUCH cireumstancs,; IT would
.Gais!s to ! sorrow fn"@d money " woa 3 e cease q ! p%S"s &. Il { vas
known that It's securities were not current on your Ex.
Adopt hi. plan. and the American public win again
. .BE1ss 5i IN your ,es sfssi tnT ,. ss i \ o.y,n and f. ,pss1l,I,o rs!
permit
number Of the leading banking and brokerage
sehene S definite IL d dEiessHiasnbs y signing Raxs e 4 %pstlt fos
r rs}iqesd Tep teat an b. au spnoint and By 1aa she Es OF
nns16 Be- e canS, emf with it' SIr B BroWss communi.
s SaIs who as are tnfd ID iato4 Of 'h ss,s shi mpSrfsnt Of Inn 1ss
walton the names Of some OF the first signers
are given:
Drexsl, Morgan 4 Coz win,lOw. L.nler 4 Co. Ks,ddeT
G. kaha EssSx 60 E IL ssiosss5s s.: y:i%iIys
Nj asi, i SIn r hs2%1 q Co. : J John aA fsssn Z Co. nn n.llsar I Soxi
s s@ii, IG g cs sttGns 4 4 s so Sl esn s ! Go. ( 4 4 f Flower ssm ! CO..
Hsaay4 co., Ihi,shouss ! fSe GO, Il. i. HHt oii!.serS i I CO. Il.
Dominick / Deckerman. and Kissam, Whitney L Co.
It is conceded. Of course. that the efficiency
Of this department Of the Exchange. should It
upon the ability and honesty Of the mar who
gets the Job OF running 1t.