The Pickens sentinel. [volume] (Pickens, S.C.) 1871-1903, 1886-01-14
GAMBLING STOCKS.
Operations OF Buck 'i-Sh"ps and How the
Dear Public Is Ficccrd ou<S suck,.

| oebr Is EieCCFu 3 uClS},
|
Tho ideal business of the New York
Stock Exchange is unqucslionably as
legitimate rs that of the Produce Ex-
change, or OF any intermediary be-
tween tho sollcr and the buyer That
there arc grave evils incident TO its
operation is equally unqucstionablc.
The war for tho preservation of tho
national Union largely converted tho
American people into II nation of spec
ulators. Tho rage for sudden wealth
was further intensified by tho discov-
cries Of mineral oil and tho precious
metals. These created innu:ncrablo
companies for the exploitation of mines.
tho construction of railroads, and other
objects. Sudden and violent nuctua-
tions in tho price Of stocks, and the
daily report thereof in the newspapers,
aggraVate tho speculative spirit. Con-
sidcrations OF morality and prudence
arc set ut naught by those who will DO
rlch, anu who dream of opulcnco by
other methods than the slow and steady
measures OF their fathers. Profession
al men, merchants, maulll;c urcrs,
mechanics, farmers, widows, and
spinstcrS, blinded bv the glare of sue
cess anu hoping TO strengthen their
snyinps unon ,hn ,r,,oI,',r''', .''I,
Wall Street, and lost ,hn,,, III ~ w.
| them ,hn oxch,n,o h,,il.,;m
| sonuIcbr, IN v.j o,, r,,2 20 n''e"
tombrd. , sro i'm wJ,i,,, ,.nn''',;-' w"
| reud mr. swallow i'm III, ~, 'h1' no
To cutor ;ts ,rouj,ln,I v,,,' "Ao ""io
Iinu s,loon wilma ,J,o,,;, s"'no-
tion ,voit urnn ,l,n II'. " Ic'Poi"-
| b,vc bnrr tunI, ~ ,r, 0i' may
cause ,hnv -, 81, !, e,'''L' I"' ',"py oc-
lLrv nvIylrJ ,nnn.'i'' i' ny occ"uSe
func,ions VI ''' 'c''
| An immrns, on,o,,,, of f,,,.
done in pjr,,ic,I rrI.,i,n !, 30
smle of ihr .,rn,,,,,,',' ~ 49, anu ID
siock .hrokrrs ~ ,,rn,.',,, Vi Inc
..uIckct sbnn,,' ci,,i,,,,'I y, 49,, l"c
towns and ci,;rs mf n ,,,a a,,,, -, .no i"tSc
Instruments ~. v.,,i'.i, :, ,G""'.S -; arc inc
Tine prourirlors ~ ,h,sn u,,'',,';' ,,t'uu on'
tuuliihm.nIs s,,rrn'I,;,,'i,' ISU ,ioi.' 'ous cS-
ouoln,ions from inn S'n>,i' oo''''
tickets are r,In.rI ~ ,i, ~.
Western IJn;nn m,,i,. ,''. .ien W mo
| of the nonr,j ,.,,,,,.n 49,, Io' 'ie'hoelS
of e,ch ,n.,Iinn,,, ~, WV: '''nGSS
sired arc iurnishrd ~. iio"a i, NC
| n,vc bonnI i,,nmn.,Jr, , "ho
ur,nh rnm,,ny ,n, ~ >, y" tn't 'c'c-
lava oh,niurI ;,i,,,.,;>' "nu ""o
courts r,sir,inin,, I,,,.I',,''-,,; 'ho
reuoviuU 1nrir Ir.,rnn,' '''J;' ~ ito''i
! insoIveni mrmh,r. rs 49,, VI 'nci
change. now known 40 ..,y,,,,,,>, 1
| ucrs. \ arc ,mou,r ,hn
knowlcdrc inns ,rou,,.d n. W 'nu
TINS orirV,ncc Ii,r r,;n',, D1 S'''1 vi
Trade has comprII.,i ,h, Wn.,'I,,'IT'; t VI
to remoy, lis i,cKrrs from, ,I'n;r oml"'' On;'
ii precedent lhnl lhr Nnw Vurl V,nots U,l>','
| EXCHANGE will urop,b,v ,nI,n,v ,,,,I'>',
TINS griGyance b., rrJrrSsrJ "'''o''
In these bucket shon< , h1,o.ho.,
with list of stocks III prices ouoIrJ IT,
New York inscribed thereon. is dis
played. Speculative clcrRs and others
arc invited TO bet upon these QUOTA,
| tons, under Tic prclrnsu OF the mn and
call system. Fol example, one is in
| duccd TO buy, on Il margin OF 81 prr
| share five shares of MtSSnur; E,
and Texas stock at 16i If it rises To-
| Ia, Ec gets back his margin and Unins
80. If 1t drops TO 1ji ne loses his
nharSn or bet. The secret OF ruin in
thousands ol instances is to be found i'm
the gambling OF bucket shops. Yet
| the wealthy patron.H, and arc ncccvd
~ them. Qlrk OF Knaycvi.lo kccDs a
bucket Sn"p' and receives the quolu-
tiohs. lie ccnhdcnilaly Informs his
trusting pulrona that hc has certain
knowledge taat an inactive stock is
ABOUT 10 rise IN pr,Gc-.Say the Denver
ana ltAo 0randc, now selling ut 9-anJ
perSutdeS them to venture 81 per share
10 inc extent Oh 1000 shares. This
uone'he lcicgr 'phs 10 II broker TO "scil
oVoo, -. an" IL. G.-qu:ck, qlick," in
olocR3 from 81 TO y. 1h" sc.ling bro.
kcr' a!one or with aSaisiancr, makes
his Oilers Which arc accepted BY uuoth-
er broRcr TO whom QImk mas tclc-
graphed to buy the slccks offered ot
those prices. The last quotation, 8,
fixes tho priccI The te.curaph an.
nounccs it at Knaycyillc. The S15 600
margin, minus the onc-four,h of ono
per cent, BROKERAGE on the Gclilious
salcs,i is swept into the sW,ndlcr's nock-
While the Stock EXCHANGE has lcoit
the less ,,,,n ,i,nt :, n "'IH' I u - n'uo