MAKING IT HOT.

Grey River Argus, Volume XIV, Issue 1726, 14 February 1874, Page 4

MAKING IT HOT.

The Bey. De WittTalmage, of New York, has been " making it hot " for the Wall street operators : and in these days of joint stock companies, and the mania for insurance shares, the remarks of the rev. gentleman are not without their applicability, even in this colony. After showing the method by which petroleum companies are got up, and how the directors "strike ile " out of the contributions of shareholders, he observes :— I deplore the indiscriminate terms of condemnation employed by many well-meaning persons in regard to stock operations. The business of the stock-broker is just as legitimate and necessary as that of adealler in clothes/groceries, or hardware ; and a man may be as pure minded and as holy a Christian at the Board of Brokers as in a prayer meeting. The Broker is in the sight of of God, as much entitled to his commissions as any honest hard working mechanic is entitled to his day's wages. Any man has as much right to make money by the going up of stocks, as the going up of sugar, rice, or tea. The inevitable board-bonk that the operator carries in his hand may be as pure as the clothing merchant's ledger. It is the work of the broker to facilitate business ; to make transfer investments ; watch and report the tides of business ; to assist the merchant in lawful enterprises. . . . i Bat, while there is a legitimate sphere for the broker and operator, there are transactions every day undertaken in our citieß that can only be characterized as superb outrage and villainy ; and there are members of Christian churches who have been guilty of speculations that, in the Last Day will blanch their cheek, and thunder them down to everlasting companionnhip with the lowest gamblers that ever pitched pennies for a drink. It is not necessary that I should draw the difficult line between honorable and dishonorable speculations. God has drawn it through every man's conscience. The broker gnilty of " cornering " as well knows that he is sinning against God and man, as though the flame of Mount Sinai sing d his eyebrows. He hears that a brother broker has sold "short," and immediately goes about with a wise look saying, "Erie is going down — Erie is going down ; prepare for it." Immediately the people begin to sell ; he buys up the stock ; monopolizes the whole affair ; drags down the roan who sold short ; makes largely, pockets the gain, and thanks the Lord for great prosperity in business. Yon call it "cornering." I call it gambling, theft, highway robbery, villainy accursed ! . . . The day must come when the worthless scrip will fall out of the clutches of the stock-gambler. Satan will play upon him the " cornering " game which, down on Wall street, he played up on a fellow-operator. Now he would be glad to exchange all his interest in Venango County oil wells for one share in the Christian's prospect of heaven. Hopeless, he fall back in his last sickness. His delirium is filled with senseless talk about "percentages" and " commissions " and"buyer, sixtydays," and "stocks up "and "stocks down." He thinks that the physician who feels his pulse is trying to steal his " board-book." He starts up at midnight, saying :— " One thousand shares of Beading at 116|. Take it !" Falls back dead. No more dividends. Swindled out of heaven. "Stocks Down."