Birmingham state herald., 1895-12-08
PAT SPEEDY ON GAMDLING He Thinks Stocks More Haz- ardouS Than Faro, 1T IS SURE TO FEAT YOU UP" That Is What He Says of Any Game in Which There Is Percentage for the
 Dealer.


 "sporting man. in America. There isn't a town of 5000 inhabitants from the At lantic to the Pacific, from the St. Law renee to the Gulf of Mexico, in which he is not known personally or by reputation. Everywhere and among all classes of people he is known as 0 high roller" whose word is as good as any mans bond. Some years ago MT. Sheedy was known as the greatest faro-bank player in America. He doesn't play much faro bank now, simply because the proprie- tors of the banks won't let him. In the language of the game, they wont turn for him." He is too nervy a player, can fully protect" himself, and has on sev- eral occasions made them turn up the boX'-in other words, won from them their bank rolls" or cash capital. The gambling business, owing to a number of causes unnecessary to mention, is rather dull in the United States at pres ent, and MT. Sheedy intends spending the winter in Egypt. He will have an interest in "a house. in Cairo. Last win ter there were over 100000 English and American tourists in the land of the Pharaohs, and this winter it is thought the number will be even greater. MT. Sheedy expects to entertain large num- Der of them very profitably.
 A couple of weeks ago it was reputed that Riley Grammar, a young plunger from Lexington. Ky, had been inveigled into game of Boston in New York, and that at one sitting he had dropped $72000. The story runs that he had paid $24,O00 of this amount in cash and given his notes for the remainder. The next day it was said that he had obtained in- formation that the game was crooked" and that he had been fieeced by sharpers, and that he then refused to pay his notes. In gambling parlance. to do this is to "welch," which is the unpardonable sin among the fraternity. You must pay, your debts of honor, even by so doing you rob yourself, your family and your butcher, baker and candle-stick maker"
 l have known MT. Sheedy for a great many years, and a couple of days after the alleged games of Boston were sup posed to have been played, met him and asked about them. "The story Is rot" said he. "There is not the least of truth in the matter In the first place, Riley Grammar is the coolest and levelest-head- ed young man in America. He won't sit into game in which he hasn't just as good a chance as the dealer. He won't everyday himself either; and he would no more 'welch' than he would whip his mother. He isn't built that way. Let me tell you what he did do. He is one of the best casino players in the world, and the other night he happened to run up against several fellows who thought they knew all that was known about the game. He and the crack of the lot had little card duel They played the first game for 5000. Riley Grammar won it. They played a second for $1500, and Gran nan won that. The third game was $2500. and that, too, was captured by the Ken tuckian. The fourth game was also for $2500. When 1t ended Grammar had $7500 of the party's money. Then he offered to keep on and play for $10, 900, $20, 900 or S25- 900 a game. The other had lost all interest in casino, however, and the game ended. Then some one gave reporter the pipe story about the $72.0O0 lost. and the 'welching.' Why there isn't any place in America where Riley Grammar could lose $72000 except on a race track or in Wall street; and he has too much good sense to. play stocks"
 What! is dealing in stocks more haz- ardous than ordinary gambling?" l ask ed.
 'I should say it was," he replied. Any game Is hazardous and sure to eat you up where there is a percentage in favor of the dealer. If you only stick to if, the percentage is sure to eat up your capital. Take roulette. for instance. AS played in this country. with the double zero,' the percentage in favor of the house having the wheel is 5-17 per cent. Let man with 5000 go up against the wheel and 1t is only ar-question of time when the croupier will get all his money. He knows. however precisely what the odds against him are. Let him take 5000 and go into Wall street with 1t, and what does he get? In the first place his broker will charge him 1s of per cent for bet ting-beg pardon-placing his money. Unless he gives the most positive and ex- act orders about the figures he wants his deal closed at, if he isn't eaten up by his margin, he is likely to get It in the neck He doesn't see the cards shuffied, doesn't know whether or not he has been split;
 T. at 66h or as near that IS possible. he may find when he comes to settle that his broker tells him that 663s was the best he could get and he has to rely on his word. You can't protect yourself; and that is why professional gamblers seldom have any luck in stock deals"
 MT Sheedy says that for the life of him he can't see why stock. provisions and grain trading on margins isn't just as much gambling as betting on cards. Not long ago." said he, "I met friend who seemed much worried in mind. asked him what was the matter. and he told me that he was overloaded with wheat. Where is it?' l asked. I didn't know that you owned an elevator He looked at me a moment half angrily. saying: What are you trying to do- string mel? Then I found out that he owned 500 GOO bushels of wheat on a mar gin.' He thought the price was going against him. and if 1t did he would have a grand hustle for money to cover with. As matter of fact. though he had owned millions and millions of bushels of wheat in his time, he never actually possessed one in his life. What is he but a gambler like myself? Only the law protects him and ostracises me. I've got my life insured for the benefit of my wife; in other words, the company I'm insured in bets that won't die this year. That's the toughest game I ever struck. too, for I have to die to beat 1t: but for my wife's sake I've gone against it. If I were to call the president of the in- surance company gambler people would laugh at me. and yet I can't get 1t through my head that he isn't just as much of a gambler as I am"
 What was the greatesi "f money you ever saw bet ui M ?" was my next question.
 'I never saw what I consider big money in this country" was the answer "I have been all over this country, and off a race track never saw more than $25 000 or $30 GOO lost at one time. The greatest gambling I ever personally saw was at Monte Carlo, More money is won and lost there in a week than there is in the United States in year. Of course. when I say that don't include Wall street rambling Jim Keene failed for