Evening star. [volume] (Washington, D.C.) 1854-1972, 1888-01-25
A Preacher sas n Flyer.
WHAT IT Cosr HMM WALL STREET.-THE SEQUEL


WHAT IT CosT Brd1 IN WALL STREET.-THE SEQUEL TO
BROKER sIDAASs FAILURE
New York Special 10 the Baltimore American Jan "a
A rich and fashionable clergyman Is TO be ex-
posed 40 a heavy operator in Wall street. This
will cause Comment among the brokers, as well as
eommotion in his church, because there Is a gen
eral opinion among men OF the world that when
Clergyman tlkes a "nyer" IN Wall street he does
very undlgnifled and unproieSsiOnai thing. There
badly burnei IA the operation he should suffer In
silence for The sake Of the cloths reputation
When Broker sidmans books were found
In the IlacEensaeS River a while ago
people looked asSanee; when Sidman's
failure was announced on the Stock
Exchange people winked. and wnen the suspen-
ateiy followed people became Interested 20 know
what IL all meant They don't know yet, but will
when the receiver gets through. The reporters at
tor OF the Bergen Avenue Presbyterian church.
Jersey City, ano Broker Sidmans pastor, was pam
fully present In the mess; that he had lost nat-
ter OF sl5OO,O Through SldTnan; that tie adyanced
TIE money u buy St!nan'S seat In the exchange
put before Sdmdn could occupy 10 he was forced 10
secure q full release OF the Indebtedness from Mr.
Herr, In con- piidnCc with the rules; that Rev. Mr.
Herr SUED Slillan and recovered judgment by de-
iauit Ior sonls Z'OO before the failure, and now
hAs an lnllhction suit penciIS 70 restrain the ex-
Change RON Dis posing OF the proceeds the sale
OF Sldm ms seat for the benenI VI other creditors
as the money l. rtyhtiully his.
Thus the matter stands before the people; but
there Is an unsritteu chapter. When. at The time
OF the expose, the Rev. NJ. Herr was 3oII-hI for a
sumed the iInpe iO1& But his paIiShiOnsrs BEGAN
10 gossip. - the next Sunds n announced tom
the pulpit that, while L. dechned 10 talk for pub
cation, his version OF The affair would be given
privately TO any one In his church who sought AZ
A gentleman W nose Integrity Is unquestlUne,i and
who - In position TO know, gives these supple
mentary factsc when the Rev. MIR. Herr 4dya iced
the money % by the stock Exchange seat II was
because he knew that II would never do for him
70 appear la wall street Ia person Is a specu-
lator. For tue loan he accepted as security from
Mrs. sidman an Insurance policy on her
husbands LIFE and a lien upon ner house. In
the face OF this security he sues the STOCK
Exchange for the proceeds OF the sale OF the seat
and before he has secured any gfOuEd Tor suit oy
returning the papers To their owner. THIS Is
thrifty WORK for a clergyman But the friends OF
Ms SdInan are ebdeayOring for ner sake, 10 per-
suade the Rev Mr. Herr 10 return 10 her the secur-
ftes II he Goes not, Broker Sidman VIII ask TO re-
open the judgment for 50 900, on the ground that
the clery man holds collateral for the amount and
Will also see. 20 have the proceeds OF the sale OF
his seat 90 into his assets on the ground that
having secured from Mr.. Herr a release OF this
deot, even though 10 was at the time merely a
matter or form, the latter has no earthly claim
the cash In fact, things Will De made very lively
Tor the preacher who tacSlcd Wall street.