Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1885-04-17
THE Glands" SHORN.
How "A Bucket shop with Branch Offices
Nictimizes the Innocents.


The failure of II. Brigham Bishop g. Co.
of New York, Burlington and various
other points, has created intense excite
ment among the small operators in
stocks. The concern, it transpires, was
"bucket shop" at 10 Broadway, with 81
branch offices in different parts of the
Countrywide most extensive concern of it's
kind in the United States. 1t originated
in Boston, and the New York branch
which has lately been the main house
was established four years ago. On Mon
day the New York Office was filled with
bowling mob as soon as the failure be-
came known. The members of the firm
claimed that it was the distrust caused by
the change in the firm name that precipi-
tated the failure.
On the other hand it is charged that the
failure is part of a swindling operation.
1t is said by those who know that during
the activity in stocks owing to the war ex-
element, the past ten days, the company
did larger business than ever before and
must have in their possession hundreds of
thousands of dollars of their patrons
money, taken within a few days.
Burlington, we are pleased to know is
not IA large sufferer. Stock speculation is
other places in Vermont. The
loss here is not now thought to be
more than $500 or $500 In Rutland the
losses are said to be $4,000 or $4,000, and pos
sibly more, and in st. Adams, which of
flee is said to have done nearly as much
business as Rutland, the losses must be in
proportion. 1t is understood that the
worst shorn lambs in st. Adams have
been victimized in previous stock specula-
tons in Wall street.
In Massachusetts and Connecticut there
is great excitement over the failure. The
New Haven customers, some twenty IN
number, have 800, 600 or $4,000 in the con-
Germ. About $1,000 in trades remain unset
tied in Springfield. The Hartford Office
was light in contracts when the failure
came, but they had done a business that
brought in many a day $4,000 to $1,000 in
cash commissions. The amount of business
generally done in the past ten days,
however, was very large. The local man
ayers of most of the offices have closed up
and left the towns. The Rutland manag-
ers left town Monday.
The Nashua On. H. office was attached
Hooper of the New Bedford office tele-
graphed on to his lambs from New York
that Bishop & Co had liled and could pay
nothing. Quebec, Montreal and Three
Rivers, the only branch offices in Canada,
report considerable trouble with creditors.
| Wo OF lnFec Oh tlle ldulDS nave pltc-
ed attachments on the office desk here
the only asset they could secure-and it is
now in possession of Sheriff Barton.
j. w. Greeley, manager for Vermont
with headquarters III this city, started for
New York Saturday night for the ostensi-
BILE purpose of ascertaining the cause of
failure to receive remittances from the
main Office. He has not been heard
from since, directly, but the operatives
at the various points yesterday received
the following message You can consider
yourself discharged for the present Ex
pect to resume soon. Please send address
j. ID. Bligh, 5+S Palisade avenue j ersey
City"
The situation is therefore this: Mr.
Bishop is either going to settle the trades
now outstanding, or he is going to take ad
vantage of the formation of this new con
Germ to get rid of his obligations. The
present phase of the matter looks to the
second conclusion. But even if it does
end in this way, the various communities
involved will nave little Sympathy for the
victims. In these days a man who in
dulges in this petty gambling goes into il
with his eyes open.