The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1880-12-01
PUBLIC GAMBLING.
The "nucket.shop" spec uiators.


piy oe wiped out, IN the language of the
street, while the petit Spectator is left to
mourn the loss of the margin hc deposited
Notwithstanding the repeated warnings of
the public press the mania for gambling
upon fictitious stocks has increased to AN
enormous extent, and the unfor.
tunats spectators who risk their
savings hang around the places like
moths ABOUND the fame long after Their
wings have been singed by the loss of the
money they invested in the slippery hands of
the bucket-shnp keeper" The whole opera.
ton consists in betting upon numbers given AS
the market price of various stocks and does
not vary except in the rules of the game as
the proceeding may be called, from keno.
roulette or other gambling games in which
numbers are used. AS in those games. the
dealer, or IN this case, the bucket shop"
proprietor, does not risk cent of capital, AS
That is done by the customers. When he
nnds that he is losing he "lies down on his
contracts or fails, assuring his dupes that
ne Will pay them as soon as he is able.
THE "BUCKET SHOPS"
AT the present time there are three of the.s
places In the city, all located in the old stock
exchange, At Third aAd Walnut streets. The
principal one is that of Merrck Price & Co,
which is on the second floor of the exchange,
IN the room formerly occupied by the board
oil brokers' before they removed to their
handsome new building in the rear of the
G-rsrd bank. Two broad stairw-ys lead I'D
to the room, which is semi circular in shape
and has lofty ceiling, deliberately fresceed.
On the left OF the door is high counter, cou-
tanning private indicator of the quotations
OF stocks on the New York market for tho
use of the proprietor, Merrick Price, who
stands beside it, constantly watching the
fluctuations. The counter is about on
level with q mans head, AMI the
indicator is guarded from public view
by close wire screen, while the ttpe upon
which the quotations are printed runs along
the counter uudor a glass, so that there is NO
possible manner by which the figures can be
seen by the Customers. Behind Ihe counter
IS a medium sized man, with light beard,
dressed in i'reproschabe costume and wesr>
Ing glossy silk hst. This is Price, the
"bucket,shop" keeper, whose go. "exists only
in Inauguration. Each customer who desires to
purchase or sell some my thical stock hands his
order and the necessary amount of cash to
Prlce, who marks il correct and passes il on
to clerk, who makes out contract and
hands it through little pigeonehole to tue
SPECTATOR. AT the end of the counter is en-
sconcod the cashier, behind heavy wire
railing, whose duty it is to pay out tile win
nlngs, If there are any, Of the successful gam
blers Ga tbs other side of the room is
largo blackboard, standing upon
narrow platform. Upon this blackboard
are the initials of all the principal
stocks dealt in by the Now York stock ex.
change. No Philadelphia stocks sppesr upon
the board, for the alleged reason that they.
are not active enough to suit the feverish
anxiety of the gamblers, who require instsn.
taneous changes in the quotations. At ono
end Of this board is another tslegrsphic indi-
Gator, which is constantly examined by
lanky boy, who calls out the quotations aloud
and also chslks thom down on the board be-
low the name of the respective stock. AT
the end of every hour he draws broad dash
across The board, 80 that the changes made
by each stock between 10 q. N. and D. M,
when the place closes, can be seen at a glance
by the men who continually inspect the fig
ures with burning chances.
THE PUBLIC GAMBLERS.
Before this board are seated sixty or sew.
enty men, Of all classes and conditions in
life. Some are smoking, some chewing to-
bscco and expectorating over the floor, which
is filthy beyond description. Mud, dirt, torn
paper, Gig c stumps, tobacco guilds, apple
cores, ha eaten sandwiches aud pieces of
pie crust c streW arouud in every direction.
Some OF the men are swearing terribly over
their Losses, while others sro cbuckling over
prospective gains that may in u moment be
snalchpd away from them. Among the men
present are many familiar faces. In one of
the chairs, his hat tipped back on his head,
snd his shabby coat thrown open, displaying
his soied and worn linen, is seated q
man who at one time was one of the
most prominent brokers on Third street.
Several years ago he failed, and from dealing
in hundreds of shares of stock at a time he
has come down to betting FIVE and ten dol
lars upon tho quotations Seated by him is
young lawyer who is the son of wealthy
merchant residing on North Broad street.
He has only been member of the bar few
months, and Rhiles away his time waiting for
briefs BY Q instant attendance vt the "buck-
et-shop," where no hangs upon the shrill-
voiced call of the boy at the blackboard with
the same intense anxiety that the keno player
listens for the numbers es they are called out
by the dealer.
HOW THEY BET.
Such was the scOne presented yesterday
when a representative of the Times entered
the Peoples Stock Exchange" as the sign
on the door proclaimed it. An aceommo-
dating friend was soon met who was willing
to instruct the neophyte in tho art of betting
upon the numbers. In answer to question
he said: "The bucket shops make money
on declining or widely auctusting market
from the fact that the majority of the public
operate for rise; but when there is boom
like the present all their customers are bulls,
and the consequence is the boys catch them
for !, and sometimes 8 per cent, which is
the limit. When stock is unusually active,
jumping up ! and + at time, the proprie.
tors will refuse orders, and it is amusing to
see the petty operator rushing from one shop
to the other, hoping to get in his order, but
1t seems as if by some preconceTted arrange.
ment they all refuse to accept orders at the
same time, giving as areason the stock is too
teverisf. The majority of the bucket.shop
operators trade in five shares at time put
ting up IS, or ger cent, a. margin, al
though there are soma who buy 20share
lots and often carry 100 to $50 shares assorted
stocks. If there is an advance of or
above the price paid they generally close,
hos.. n III. NJ n