The Cheyenne daily leader. [volume] (Cheyenne, Wyo.) 1870-1884, 1882-07-11

"Bucket ShOps."i
As many of our readers do not know
what a 'bucket shop" is, we clip the fol-
lowing from the Chicago, Inter Ocean.
1t tells the whole story:I
Let us now enter one of these shops
and watch the proceedings for a few
moments. We will take one opening on
Clark street as a sample. On the out
side we observe the kwords, Chicago
Grain and Stock Exchange" but it is q
genuine bucket shop for all that. We
find the place filed with a surging, seeth-
ing, eager crowd of operators. Some
are young men, some are old, some are
well dressed and dandihed in appear
ance, and others comparatively poorand
shabby. Some are standing up, others
sitting in chairs, which are arranged in
long rows facing the blackboards; some
swearing and splitting tobacco juice on
the floor, others pleasantly smoking and
chatting in groups others still, silent
isolated and anxious. Before the black
boards, on q raised platform, is a tele-
graph operator and a marker. As the
quotations come in from the halls of the
chamber of commerce every few seconds,
they are called off In a loud voice, then
put on the board, and also in a book
which is kept by q nan at the clicking
instrument. This Is for the grain and
provision department of the concern.
On the other blackboards are placed the
stock quotations which come directfrom
New York, and not quite as frequently.
Behind the desks stand a lot of clerks,
keeping an account of the transactions,
and working away like beavers. Quite
an elaborate process of bookkeeping is
INDUCED in, that no blunders may be
made, and it sometimes requires sew
eral hours to 30 straighten matters out
inside that q successful operator can get
his money after closing his deal. Money
is changing hands rapidly and constantly
during the hours of business, and at the
close some go away smiling and happy,
having been successful in winning q few
dollars, others depart morose and mad
on account of alleged ill-luck and losses.
The fascination Of this game of chance
is absolutely terrific and e~nthralling.
When the markets are lively and huc-
tuations are rapid, a man q double his
money In a few minutes or lose it alto
gether. The bank generally deals openly
with its customers, and gives them every
| opportunity for investing to theiI hearts
content, we'll knowing that their victims
will guess wrong three times where they
will hit it twice, taking the transactions
of the day through. The bank can well
afford to allow the operators full liberty
Il VII A I'll PIphI ollll ny lIltlI lllo-
takes. Such is the unqualifiedly total
depravity of inanimate things, as well as
persons, that every advantage may be
given to o man to guess right, and the"
in spite of experience, observation, IN
their best endeavors, they will inevita-
bly, guess wrong and lose five times
where they gain three, taking the week
or month through. A man goes into
one of these bucket shops, makes a ven
ture, becomes elated and excited, Wis
ions of untold wealth dancing before his
minds eye. He goes on, very soon gets
Stuck" in some unfortunate deal, his
money slips away from him before he
knows ii, he grows desperate, advances
large sums, led IN in the hope of getting
back his losses, and generally keeps the
game up until he finds himself clean
soooped out" when he is forced to quit
OF raise more money. This is the gem
eral experience of hundreds upon hum
dreds of poor fellows who have gone in
to these gambling dens buoyant and
hopeful, and have come out penniless,
disheartened and wretched.
1t may be asked docs not any one
make money by speculatingT" and the
answer is: Yes, q few are successful,
and carry away handsome sums, but in
the long run ninety-ive ont of every one
hundred who follow itsteadily lose more
than they make. Some days win be
field days for the operators, other days
will be BLACK Fridays" for them. The
markets are so changeable, the influence
that moves them ep and down so occult
and capricious, that no person can tell
what an hour may bring forth. Every
move is emphatically a move in the
dark you may strike terra frma and
you may. go down into the pit.
Every one having any considerable
gmount of experience in these shops
will declare that the business as a whole
s demorallzing and damning in every
respect. It units a man for regular and
steady work. 1t uses a man upnervous-
ly II mentally. 1t breaks up the very
foundation of honor honesty and integ-
rity in his character. 1t makes him
irritable, peevish and reckless in his hab-
its. 1t leads to drinking, swearing, and
a score of allied vices. The agony of
soul which a person, losing money in
these games of hazard, experiences
leads him to curse God, himself, the
markets, and every thing else. 1t drives
men to the verge of insanity. 1t makes
men act more like maniacs than rational
and intelligent human beings. The
very fact that the business is entirely
respectable and legal. and that very
,ood Christian persons are engaged in
It, only adds fuel to the flame. If the
whole business was outlawed and lille
gal, there would not be half the danger
in it. Morally and financially consid-
cred, the worst spot in Chicago is that
square bounded by Washington street
on the the north, Clark street on the
east, Madison on the south, and La Sale
on the west.
A a. q Rittara ara tho hast oo1