The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-11-06
SPECTATORS In MARGINS
The Extent to Which the Practice Is
INDUCED in indianapolis.
A Dress-Maker Who Dropped So, SOO-An
EAlleged Individual Loss of $4,000
Where the Gamblers Come From.

GLOW many bucket-shops are there in this
cty9" said an operator, yesterday, repeating the
reporters question. "Why, there's only one
honest enough to acknowledge that designation.
Ihere are eleven other shops, brokers' ofic
they are called, but in reality they agents
OF the Metropolitan Grain Exchange, of Chicago,
which is only big bucket shop. Several of
these agents are in the Board of Trade building,
Two are in the Cleaveland block, and the others
are scattered around. Three or four firms are
about the only genuine brokers in the city,"
Glow are the boys getting along now2"
There isn't much dealing going on, now.
Nearly all the bueket-shop players are broke.
The past two years have been tough
on u.s. I've made up my mind when
| close up two or three deals to quit the business
forever. I've held out better than any of em,
so FAR. You know - formerly prosperous
shoe dealer; he has lost over 81, 900 the last
eighteen months. John tan East Market
street mani has blown in nearly $4,000 in two
years. Now and then there's minister takes a
quiet deal through friend. know of one, he's
not here now, who invested in Chicago and lost
several thousand dollars Why, the woods are
full of losers. There's - Ia farmer living in
the northern part of this county,, lost $4,000,
four months ago, on wheat and pork deals. He
says he has farm and can make comfortable
living and will never make another deal. But
HEN hardly be able to keep to his determination.
More money has been lost on Is pointers
on wheat than on anything else, and the beauty
of 1t is it caught wary business men who were
not patrons of ordinary bucket-shops They
went in on sure thing, anG bought at $1.14.
$1.15, S116 and SLY on this pointer in
February, March ana April. Well it went down
to ninety-one cents, ninety cents, eighty mine
cents, and left handsome assortment of lame
ducks.'
"Did the McGeoch lard bust In June get any
body here?"
"Did itG Well should smile. 1t got - for
nearly S150,oOO, - for $4,000 and -
for $4,000 No cards; funeral at 4:30. A
Hendricks county farmer, well-known
here as an operator, slipped up to the
tuns of $4,000. A South Meridian
street dealer in fluid disturbance tried TO bull
fancy priced corn at eighty cents. 1t is now
nearer forty so you can see how hard he has
fallen. think he has dropped nearly $4,000
good Doodle. He is sJil probably $4,000 ahead
on previous deals. Shelby county syndicate
well known here is said to have lost nearly
$50, 900 this spring on wheat. I've heard that a
well-known banker, who is not averse to having
sure thing, blowed in $4,000 few months
ago on pointer given him by friendly broker,
who gave out that he was solid with firm
in Chicago that was way inside the
ring. 1 understand further that at one time
this broker was into the bank nearly $106, 900,
but think that figure must be too high. I
know a dress-maker in this city who has lost
81 500 dealing In margins. 1t was on pointer
on spring wheat She is still dealing"
81 had no idea there was so much OF it," said
the guileless reporter.
bucket Nobody can know how much there is,
as, like opium using, it is largely a secret sin,
known to the so-called broker. I don't
think there's near as much of it as there used to
be. 1t stands TO reason there isn't, the losses
have been so heavy as to break good many.
Since the first of January not less than million
and half of dollars have gone from Indlanapo-
lis to Chicago, never to ret a1 I heard Ger
packing syndicate, and broker with church
connection is said to have furnished pointers
along last spring that took all the loose change
of the deacons and pillars, and the collection
plate will suffer in consequence for months TO
Gomez
"Has Indianapolis ever made anything by
bucket-shop gambling?"
"Please don't call it gambling; that's too
rough 1t has been two years since this city
made anything to amount anything. In 1881 it
was calculated that the deals on short crops
brought $500, 600 TO the operators here. Since
then four times that amount has gone from here
TO Chicago. fashionable tailor told me ne had
quit catering to the brokers' trade. He played
bucket shop to keep in with them, and says he
lost more in tour months than ne will get out of
The crowd in seven years. know poor devil
of policeman who lost $3.50 a short time ago."
"Who are the SPECTATORS? Where do they
come 'FRONT.'
"Everybody-eve clerks from railroad
offices, dry goods stores, clothing houses, hotels,
shoe stores the pOstoffice, saloon-keepers. The
stookyards crowd, by the way, lost heavily on
pork and shortribs by the decline in July and
August. certain ex-newspaper man put in
$50, while ago, on a sure thing and lost it.
Much of the business of these bucket-shops-beg
pardon, brokers ofhces-is done by telephone, by
men who don't like TO be seen around them. These
operators go by assumed Names like Ajax, Shad-
rach,' 'Abimelech,' ETC. The brokers' say bust
ness is very dull now, and has been for several
Enr In 1oAd
places notice now are missing, and the city
nt opIa who formerly freguented them are no
longer visible to he naked eye. The most hope
fnl sign from high moral stand po1nt-thOugh
come TO think of il, it isn't temperance stand
point-the brokers, who, while ago, used to
drink champagne and forty cent brandy, now
hold up finger and, laying down a nickel.
meekly and sadly say, "a glass of beer, Henery,
il you please"