The sun. [volume] (New York [N.Y.]) 1833-1916, 1894-12-14
. PEST IN WALL STREET.
EFFORTS TO ROOF BLIND roof
GAMBLING HOUSES.

Ru-Corvists Nssausrssi.g U.der = Nsns
well Know- h Fi,..ee-Cri-i-.i Pro-
eeesirg. 20 ne Take. d. so-e Gases
Tryine 70 Get the Heoks OF o-s Co-cerr
Z. . Civil Aetion-Ths Consolidated Ez-
change ExpeIs Some OF ths 0as-ders.
Criminal proceedings are about to be taken
against . number Of men who have been opera
ting some Of the games known in the nelghbor-
hood OF the Stock E1chsng. and Wall street
- " blind pools" Acting Captain Hogan of the
Old Slip station spent almost all yesterday after
noon in the Tombs Police Court and II was
whispered that he was after warrants, although
no 600 could learn for whom the warrants were.
Capt. Hogan was after warrants, and he got
them, and to-day one or two Of the men who, in
the aulss of bankers and brokers'" have been
SHINING credulous people all over the country
will be arrested.
Wall street has always been more or less both
sfed by fakirs and swindlers, but 1t is only re-
Gently that the business has assumed such pro-
portions as TO call forth q protest from the lead
ing banking and brokerage houses, from the
officers ofthe Stock and Consolidated exchanges,
and from all reputable dealers in stocks and
bonds. The boom In the business is said to be a
direct result Of the exposures Of the green-Roods
business, and some of the swindlers who are
now astonishing Wall street have at one time or
another, IL IL said, been engaged in the study of
"come ons'' and Z" guys" They are still at It,
but instead Of counterfeiters' they are now
- banke rs and brokers.' Whether this is true
or not, It IL true that there are ex-convicts in the
business, some Of these operating under fictitious
arm names made up In imitation Of the names
Of well known financial houses.
There IL one concern on Broad street, which Is
conducted by two men, one of whom has served
. term In the Elmira R~eformatory, while the
other has not been out of State prison long
enough for the marks of his Incarceration TO dis
appear. These two are doing n fiourishing blind
pool" business and are using one Of the best
known names In the financial world. At another
place on lower Broadway q man who has been
indicted three times in the last few years is do
ing an enormous bucket shop and "blind pool"
business. The extent Of these operations Is SIM
ply enorm Gus. and the profits have to be large
Thousands Of dollars are spent. every week by
the blind pooI' men In advertising In country
The rapidly increasins number Of men who
are engaged or who are engaging. in the busl-
stirred up the wall street men. Complaints by
the score have come into Police Headquarters,
Lsughlin. and then turned over to Acting Cap
lain Hogan; who has quietly been working for a
I PoIIcs time 1m,, to- get Mt, evid Hs &c. e sS,asn,I to g go . to a
Of them where he wants them.
The trouble H." he said to, a SUN reporter
by these fellows live hundreds OF miles away
from here, and the mere suggestion that they
come on and mako complaint against the swim
dlers so frightens them that they, refuse to hold
any further correspondence with us or to fur
nish US with anything which we can use as evil
dence. Most Of the complaints come first in the
form of an inquiry, such as: What is the stand
Ing of such and such q firm Are they reliable
Will they invest my money honestly = &c.
We know when we get such letters that some ono
has been swindled, and we usually verify our
belief; but when it comes TO getting the victim
TO come here and make q complaint, or even to
send US ANYTHING which we can use az evidence.
about IT, All OF these letters, and they come
from all over the country. arc sent TO Inspector
Mclaughlin, and he has turned them over to
me. We are doing our best TO break up this
blind pool business, but II Is useless to proceed
without either evidence or complainant"