The sun. [volume] (New York [N.Y.]) 1833-1916, 1890-05-20
SMASH OF THE BIG FOUR.
OFRGO WON TOO MUCH MONEY ON
TIE mock ISLAND RISE

The HE Rueket shop wouldn't Pay $780,
GOO and j. r. Dee OF the OweEo branch
C,ot an AttaCbnent-Cncie Dan Loring
ON Hand with "a $4,000 Judgment.
Probably the biggest bucket shop not only
IN Wall street but in tho country. went
nnder Yesterday whom the Public Grain and
stock Exchange. with offices In the Weles
building IS Broadway. closed its doors. This
bucket shop is known rs Tho Big Four" and
Uns organized IN Chicago by Uncle Dan Loring
nine years ago. In 1884 tho Now York branch
was started. and from that day until Yesterday
Il has been the pride OF the bucket shon owners
md bucket shop patrons. II was the boast OF
the concern that 1t had $50 branches in 100
cities OF the United States and Canada. Extend
ing from Montreal TO New Orleans and from
Baltimore to San Francisco.
mattor OF fact. little business was done
at the New York office. AT this Office the quo
tatinns were gathered for stocks. grain petro-
leum. and cotton. and disseminated among the
branches. 1t has been said that The Zig Four
has paid as high as $250000 year i'll tolls to
the Western Union. Tho capital stock OF the
concern was 100000. The officers are: Charles
II. Platt. President; Alfred T.. Hovey. Secre-
tary and Treasurer; Charles b. fog!, Assist
ant Treasurer, and W. W. Underwood. Travel
Mr.. Fiat, in speaking Of the suspension. said
n rare house by j. r. Zee, the manager o the
Gwego branch. Ii seems that in tue bull mar
ket, Dce's clients won about sSO,OE0 IN hocS
and then he drew on the parent house in New
York, Tor the amount. and the claim was dis.
offered TO him. 1t was refused; and Dee
got out an attachment f8r s514SS son on rd me
&c SeR YdTS TRs "R arrived on samrGny
and was handed to the sheriff TWAS put into
cured was 81 060. II appears that tile rarent
house knew that the attachment was on ils
all lis money from the two banks in which 1t
deposited. except the $1,000. Then the doors
u r. Plat was dihldent about speaking OF the
future. At one tiro he said that the concern
would resume within two or three days. ana at
predict. lie was inclined 10 think that the
concern would pay 100 cents on the dollar. but
On he door Of, The Big -Four is sign read;
log Members of the Copsolidated, stock and
uSe Il Was learned GH no
Der Of the concern was u member OF either OF
these Exchanges and then Mr.. Plat admitted
Dan T.orinG, tho founder OF the concern. The
original incorporators Of the concern were
f fHiPs n and rIpo t. B BSaISS Han
fcom withdrew and ,Eyerhart died. After
he mHd been seTyrd {esiyrd
the concern for &50.O6S for money loaned TO it
o. two promissory notes. one Tor &%uOoO and
q judgment for 81 Ol6 against Charles Holland
The place was crowded with patrons all day
money. and Getting little or no satisfaction.
OwEGo. \. y. May lg.JSmes F. Dee is in
New York. having started for that city last
night. He had dealt with Doran Wright until
October. 1883. when he opcned with The Big
Four. His deals have reached as high as 500
900 and many prominent men have figured in
them. At the time o. the Doran-Wright failure
The Big Four wired him 20 come immediately
TO New York. He did SO. but could not find out
yrh y
sGiidity they told him TO close his deals, II he
was afraid. He did so. and took IA statement OF
the amounts due him. They failed to pay. but
kept him there some days by promising him a
settlement ON his return he found that his
shop had been cut out 10y their orders. He en-
gagged Jacob Schwartz, prominent Elmira
lawyer, and made this move.