The Bolivar bulletin. [volume] (Bolivar, Hardeman County, Tenn.) 1865-1888, 1875-06-18

ten tickets, after a small percentage has
been deducted as the profits of the pool
seller.
HISTORY AND POPULARITY OF TEE SYSTEM.
a comparatively short time only has
elapsed since this system of mutual
pools was devised and the machine in
vented by an ingenious Frenchman by
which record Is marked of each in
vestment made. The merits and easy
applicability of the system we've at once
perceived in Paris by an eminent
American gentleman who was soiourn-
ing in the French capitol, and be
brought a number of the machines
here. The system was at once received
with favor by the public, and justly SO,
for 1t is the only way in which the man
who orly seeks moderate risk can lay
ont his money, while the full publicity
of all the transactions and the checks
which are employed to perfect the sys
tenn render the preparation of any fraud
nearly impossible. There IS no fraud
There can be none without an amount
of craft and combination which is prac-
tically impossible, in the face of the
hundreds of men who surround the
stand upon which are placed the ma
chimes, the playcards, and tie opera
| tors. The public know this, and the
outcry, raised mainly by m who have
tried to get control of the system them
| selves and failed, is of no effect. Those
parties may believe that fraud in the
management of tae Mutuals is prac
| ticabie, but it is a very general opinion
| that the chief reason of opposition IL
| that they desire to control and mo
nopolize the business for personal
profit. No man of common sense,
although dishonest at heart, would at
| tempt fraud in the matter where the
risk of detection Is so great and the
| legitimate emOluments of conducting
the system with prObity so large. II
will be the chief means o betting from
tn S time forth, save the regular trans
actions of the book-makers and the
heavy pools sold by auction, in which
only large investments are generally
practicable. It may be that a smaller
percentage o. the money invested vii
be considered sufficient to remunerate
the managers of the Mutuals, although II
is not generally known what their ex
enses are for machines, printing, and
salaries of operators and accountants
Neither is it known to what losses they
may be subjected through counter
felt money or defaIcatiens. That THEN
expenses are large is manifest, notwith
standing there are people who argue
that the system works automatically
and that after the frs. outlay for ma
chimes the percentage is all profit. Fol
Jerome Park, Long Branch, and Sara
toga the bills of the managers of the
Mutuals are very large in necessary ex
penses aside from the salaries of the
scores of men they must employ in or
der to do the business with dispatch
and reliability.
THE BETTING THIS SEASON.
This has been an exceptionally lively
year for betting. 1t is said that more
than three quarters of a million dollars
have been placed upon the Jerome Parl
races alone, while the sum total of bets
on the southern and western races anC
the events of the Long Branch summer
meetings exceeds two millions of dol
lars. The races in the west and sOutl
which opened the season this year al
usual, aroused an interest and enthusi
asm totally unexpected in view of thu
general stringency of the money market
There were five horses matched, auC
there was an indication of almost
| national interest that these events Great
in European countries. The bookseller
, state that the amount likely to be riske
within the coming month on the Lon
Branch races, and later on the Daily
mount rife contest, and the yacht races
will be more than double the SUI
! wagered during any previous year.