Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1894-10-19
BETTING ON ELECTIONS
\ w RccO,0.zri us - Legitimate
T"A;eH g.: NrOl: rage.



.'t-. ,u ..v.:. :.. Is ',..,ti.. =
r.t '....a E Ill. t.-.t.,~~ !
r..- Nal. -'"..' .,,'- i.-t.... 'At
...- ...-iYa'--a '., '.,.''. :
.-.,. ..'...1. i......... t-..l
u.. -.. -... t...:..-.. ,...,. ..I.,
... ....-. ..: .-.;r,........ @. !.a&,
t... ..- ....: 80. -'-,.- ....,
i-.:... s.. 81. e. -,...r ..,.:..' ,,.~.
Z DO. ~.n t...a- j. il .nr.v tau' IL:
'.t.~- ,4..t... ,l- :..,u ,M.~. i,...l..
'..n ,..~ .,. -. ,.u,.r = r,.... -:.....
f~.. -. ....! ...., ,.,.....f! f.,...s...-
l... - t-,,;i...i.,t Interests. MA
,-.....-.- H., -.~..-
\. 80. ,.....r...,f -. Wa. ,.~..i
- -..,..,.... f,.;.:.. v.t. -. t,,i.,'.r.,v
,>t .... :.,.r..:.. t,..f.r- in ha'.-. i
w....... .,t.,l. .,-..ir... vim, ..,,r.. tff,r
tt.,..,,. '...' ,'.,;r .--,..- MAGNITUDE,
h--t.,.. ..,,.,,.., i,... tunvr. Th,ln.,,nr~
,u t!... ,,,-.rl IN Val street. vcrt
greater ,r,,.tiIl.,..> Ian thu~,. ~h,
lnA... ~ar,r~ 80 tlr. .r,'~ or pu' r
thor 800 u,. %. ~i.. uptown pol
room lluuir,,.. .f u u Keep balances
win fhr.r VA ~fr. : hrni>cr> t. D.,
available - am iI;nr n Stprk ~p".,.u4..-
tn. IAr~'' accounts differ fr.In TIC
ordinary hank account in that the Wa
stree account is i.It' irr purely >p,.ru-
ia'i'- l'..-.' ..~. wh.i' -" bank account
i-t'r business p..r.~'~'.~. After a PCS.
p"rpr~ hu-iu,.~, -,..I:,' Ii. when the ns,.r
chant has taken are # all = his "Wr
paper and obligations ::nt has com
Portable surplus left. he j. apt To- 70 tc
Wall street to invent and usually tc
Sprru'a'". FIR h" cards the Wall
sire it..". "a, snInrw hat Of Tho nature
of gambling money.
With such men Sp"culati"n last au-
tuInn took for the first tine turn to-
ward elections, whereas before II had
been confined to stocks. wheat. corn
oil and other products with recognized
quotations. None Of them appeals to
the business man as does politics. Al
most all business men personally have
strong political prriudiccs. Even many
of those who will not take the trouble
and tiu., To- rr:ristrr and vote have a
strong feeling for one party or the 9TH
err Wall street brokers have not as vet
charged commissions on election bets,
and this gave the speculative business
man still more of a turn toward election
bets. for he did not have to pay quar-.
ter commission. 1t also attracted him
from the uptown betting resorts, for
any man going to bookmaker to place
his money would do little worse than
if he could meet ut once some man who
was as eager to bet on the other side.
The brokers began by placing cleo
ton bets to oblige their customers who
had balances with them, and they soon
found that the business was profitable.
The money was always put up by the
customer, and as the brokers making
the bet were well acquainted with each
other there was no necessity of putting
the money in the hands of n stake
holder, and the respective brokers could
retain the money without paying in
terest. If the election bets were made
a long time before election the profits
to the broker were greater than if he
had made Il turn in stocks for his GUS
toner, and the bother was much less. 1t
is likely that in the aggregate these
Wall street election bets amounted to
more than the Hoffman house bets. A
man could offer through his broker to
place fifty or a hundred thousand dol
lars on Cleveland or on Harrison, and
the broker would parcel It out in lots
in the same way as if he had an order to