The Lambertville record. [volume] (Lambertville, N.J.) 1872-1968, 1883-06-13
FINANCIAL BUCKET SHOPS.
skf-aere The Wall Street Agony is Conducs.
ed on n Dimiuutive Scale.

ed on n Diniuutive Scale.
The name is odd and derived from the
similarity to those places of low resort where
distilled damnation of villainous quality bu!
undoubted power. mixed with the "lavins of
fashionable gin palaces" is sold for small
consideration
So, to carry ont the smile, for small
venture of FIVE or ten dollars, one may have
q portion of that intoxicaton in gambling
which comes from buying and selling large
lots of stock in the grinder came.
Tins, the financial bucket shops are to
the Stock Exchange as the Five Points and
Baxter street whiskey bucket shops are to
the White Elephant, the Brunswick, the
Hoffman House and other glittering gin
palaces of fashion and renown.
Hero is the ticket which has brought woe
to so many -
"In consideration of the sum of S.. Yer
dant Green may huy f"'in ourselves five
shares of Lake Shorc NJ } before n sale of
100 shares takes ''',ce nj the Stock Exchange
at los.
" ScooPEMALLIN n Co."
II the customer " she's to go short, he
| gots the self-same ticket, but with an altera
ton of some words, and he finds That he can
sell to ourselves, before &c. The fuetu-
alton of the market one per cent. either way
adverse to the customers interest closes the
contract and the money is lost, though be-
fore this catastrophe, which is known as
wipe, occurs more margin may be put
up, MS IN regular brokers' Office, provided
the customer may so elect. Bucket shop
gamblers usually gambler for one per cent.
MS they say il they are wrong il the market
it is better 10 be wrong for one per cent
an ten. No Sin for n penny in for
pound for them. When they are success
full, and come out with flying colors and full
pockets, they say, well, we've beat the
bucket shop to-day" aud they are saluted
by many complimentary grins of satisfac-
ton just as if they had got the best of faro
bank.
Puts and calls, straddles and spreads on
five and ten shares are sold by the bucket
shop just in the same way that old Mr..
Russell Sage sells his git-edged paper to the
boys in the street from 100 to 5000 shares.
The ball opens every morning sharp at
ten, when the racket in tho greater place
begins. Mindful of that ancient proverb,
"the early bird catches the worm," the
veterans are ON hand, and long before that
time the bucket shop gamblers congregnte
to discuss the situation and bearing of any
| particular news. What Jay Gould and Rus
sci Sage think-what jim Keene and Hen
IA 1fAfn ,l,ot
has been overheard TO say while standing in
one of his accustomed attitudes biting the
end of his cgpr in the corridor of the Wind
os.
| The scene affords diminutive picture of
| the Stock Exchange itself The self same
antagonism of opinion RACES between bull
and bear, and in exciting times the cheers
| and groans seem feebler echoes of the great
err place. Now and then it is quite affecting
to behold tue quiverng aud shaking of the
cheers sympathetic with the nervous trem-
blings of those battered and tattered wrecks
| of the Wall street game who may happen 10
be on the wrong side of the market during
an unexpected q slump" "break" or
"scoop." The elation of the fortunate ones
ie proportionate. Sometimes SO violent il
he turn tho other way That the chucltIs On
satisfaction il scarcely translated into the
regretful sigh before the recently oxultant
man is wiped"
nimble Mercury, ut stipend OF 80 or
So per week, stands upon platform at the
base of huge blackboard whereon are listed
the leading speculatives He calls and reg.
listers the transactions from the ticker to an
eager eudience in garb as motley NJ that OF
FastaH's army.
For here is the man of clerical aspect in a
dirty white choker, whose voice perhaps
once exhor ed the flock in tho summer Cos
pei tent, the lawyer without briefs and the
doctor without patients--tho halt, the lame,
the blind aud the crippled in the great bat-
tie of life. Many old and trembling Mr..
Puddiduddies, once retired kings of the gro
gerry trade, are there who, listening to the
glib voice of the broker, were enticed into
the Wall street game, fell away from com
Portable estate and took the road to ruin
Here they arc, gambling in five and ten
share lots, vainly hoping that Fortune will
come again, with both hands full
Besides the many odds 10 favor of the
game for the bucket shop man, he always
slyly takes an undue advantage of the ex
element and confusion attending any sud
den change in the nature of speculation
His factotum soon discovers that he hat
1ore than he can attend to- In conse
luence, there is frerzied crowo of custom
ers reaching and climbing over each other to
get at that omnipotent furctionary who has
power to close contracts. He, not unmind-
full of tho interests OF his employer, is much
aud long engrossed by each separate ticket
In the meantime the market turns and IL
upon the rising tide. The short seller, after
vainly yelling, "Close it Close it" sees
his profit quickly vanish, and next his capt.
toJ ~ Y T,oIenyu,n