Show rTrs A wicked world brother said the sententious thief as he rifled the pockets of his companion in crime whose protests he had prudently taken the precaution to derprive of any practical effect and that the world has not perceptibly improved since the cynical ruffian of the drama deplored its moral depravity the arrest of Edward Congreve of New Jersey on the charge of swindling certain stockbrokers stock-brokers of Wall street sufficiently demonstrates Mr Uongreves method was a very simple one but I the men whom he practiced it upon are notoriously a guileless race A stock broker and particularly a Wall street broker of a confiding turn of mind is not a rarity in New York where men are trained to treat each other with the implicit confidence begotten of sturdy faith in the honesty of their fellows To one or to several of these innocent brethrenfor Mr Congreve did not confine his financial operations to a single victimhe sent an order to purchase a quantity of stock let us say in the Empire Mine and enclosed a check to coyer any margin mar-gin that might be made on the wrong side before settlement day If the market rose Mr Congreve I realized the surplus and had his little paper returned if it fell the broker presented the check and had it returned with the polite endorsement endorse-ment No funds For some time Mr Congreve seemed to have prospered pros-pered under these simple arrangements arrange-ments The broker who had the lucky commission paid him the difference dif-ference and contentedly pocketed the commission Those less fortunate found themselves responsible re-sponsible for the margin and having paid it with the innocence of their class contented themselves with sending back the dishonored check with a mild remonstrance It is evident that I under this method infinite possibility i possi-bility and no risk success would be I rapid and sure An order for stock with the possibility of realizing the rise and with no effects to meet the possibility of a fall took out of the game all elements of speculation But if the telegram be accurate Mr Congreve has been grossly deceived by some brokers in whom he placed confidence His belief in the innocence of Wall street was too absolute His worthless checks one fatal day were not returned margins mar-gins in his favor were not paid and he himself was placed under arrest on the vulgar charge of swindling I It is pitiful and deplorable that such practice should prevail in the guileless guile-less precincts of Wall street but tis a sinful world brother I |