The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1895-12-14
BIC BUCKET SHOP
Jersey City Police Raid a
Den Of Gamblers on
Exchange Place.
FICTITIOUS STOCKS LISTED
TelegPaphie Communication
With Boston-New York
Branch, Also.
EVIDENCE COLLECTED BY WIRE
Four Prisoners Made and the Whole
Outfit Seized-Who Are
the Backers?

The Jersey City Stock Exchange which
for nine months has been doing business
at No. Exchange place, was raided
this morning at ten minutes after ten
o'clock by the detective force in COM
mand of Chief of Police Murphy. The
concern is fake one. 1t had three
branch offices in New York and an equal
number in Boston. Four arrests were
made in the raid upon the headquarters
in this city, and the New York police
captured number of men connected
with the concern at the same moment
the raid was made here.
No. 2 Exchange place is in the old Penn
sylvania Railroad buildings. The ground
floor is occupied by the Adams Express
Company, the second floor by Thomas
Potter and the third floor was tenanted
by the alleged Stock Exchange. The ar
rests are regarded as particularly impor-
tant. Chief Murphy is of the opinion
that the greatest bucket shop scheme
ever operated has been successfully bro
ken up. For nine months the concern
has operated undisturbed in this city
and according to all reports it has done
a large and profitable business.
The Exchange had scarcely begun OPP
GTdliULS III tUlS CITY DClOlO luS POiASC
learned of its existence. Detectives were
put ON the case and they Learned that
the money part of the business was
transacted in the branch offices in New
York and Boston. Chief Murphy con-
suited with the New York police and also
with the police of Boston. 1t was de-
cided to raid the offices and arrest every
one in sight.
Prosecutor Winfield was consulted ana
he suggested that no arrests be made
until those identified with the fake con-
Germ could be found actively engaged in
accepting money, selling imaginary
stocks or sending out quotations. For
months the various offices have been
under police surveillance. but not until
this morning was it decided to make the
raids.
The entire detective force of Head.
quarters led by Sergeant Archibald took
a position near the headquarters of the
fake exchange before 10 O'Clock and then
awaited the arrival of Chief Murphy,
who had arranged with Chief Conlin, of
New York. and also the Boston police
to make : raid at specified time
The operators of the concern evidently
got wind of the presence of the police,
for when admission was demanded, it
was found the doors had been locked and
bolted Acting under instructions from
the Chief, Detective McNally and Ser
geart Archibald, both of whom weigh
more than 200 pounds, threw themselves
against the door OF the main entrance.
There was smashing and creaking OF
The occupants of the rooms were gather
ed together in one corner. A ticker was
the telegraph instrument was ticking
away in great shape. Over in one corner
s stood a small blackboard. which had been
used as a quotation board
All the occupants were placed under
arrest without delay. The Chief Kept
them under close watch and then di-
call up the Boston offices. This was
done to keep the operators at that end
m police. ease Foley Foley informed ned Boston every
thing was lovely on this end. He was
suddenly asked the quotations of a cec-
moment, but the operator who had been
engaged at this end was brought into
AS soon as the despatch was out of the
way Foley wired that he had heard the
New York branch offices had been
The Boston replied that there was no
use getting worried. He said every
thing was "A right in Boston He sug-
chance of trouble on this end to place a
watchman at the door in order to get a
.'If police do come.'' he concluded. "be
sure and destroy the. telegraph. instru-
All unaware that he was furnishing
good evidence for the police. the Boston
operator kept up the communication. In
has procured sufficient evidenceagai
1 the concern to secure indictments and
While Foley was still communicating
with Boston, Chief Murphy ordered the
removal of A the four prisoners to to- Head
Washington Barrow, twenty-nine years
old. manager Of the Jersey City stock
afTeef this efS James auds5n pera
renee. clerk. of Astoria. Ions, Island,
residence. New York.
They were at c1lcc arraigned before
Justice Potts and committed in default
Of bail for conducting gambling in
stitution. While the prisoners were being
arraigned, the Boston operator sent this
Just stay where you are until you get
into trouble"
Further communication was. suddenly
cut off and It was believed the police
had had Carried out their part Of the pro-
gramrne and made the raids
That part of the business OF the Ex-
change conducted at tins emu &c, CONSISTED
perhaps the most difficult part OF the
work. as the quotations had to pc made
the. branch offices. It usually occurred
it is said. that the prices iuctuated in
such a remarkable manner that the gam
blers or speculators always lost
In searching the headquarters, several
hundred lists, purporting to be the Off
csal lists of quotations of the Jersey
City Stock Exchange. were recovered.
The list of Tuesday. November Il, is a
wonder. If the reports Of. sales are cor.
rect, an excellent idea Of the amount of
business being done. by the. concern. is
given. The list shows the opening y
fi1e chester Fruit and Canning Company.
rhe company is a myth. The opening
rrice is quoted at 6l75s: highest point
tx X. lowest 6155s and closing 6lS5s.
That there was activity in the stock is
sl,f5wn bv the 1uetuation in the prices
of the Halifax Improvement Company:
q which $4,000 shares ere represented
to have been sold at 6S2ss 6s2a. 6Sl1s
* Sales IS o Of the Old Dominion Lumber
Company must have been brisk also.
Stock Company shares we're sold to the