The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-05-07
The Bucket Shop Evil.
1t is One of the Most
Dangerous Swim
dies.
A Chicago Board Of Trade
Member gives Facts Concerning the
Ways They DO Business-Other
Local News.

A letter received yesterday afternoon
from a member OF the Board Of Trade in
Chicago in reply to one from us, states
"A Bucket shop is one OF the most dan.
gerous swindles devised by modern in.
genuity, A man who trades with Buck.
ct shop, is trading with concern that
makes every dollar he loses. At the
same time he depends entirely upon the
advice OF that concern, as 10 the charac-
ter and scope OF his investments. No ac-
tual transaction is ever made for a GUS
toner in Bucket shop. A man who
puts bis money into a Bucket shop has
absolutely no chance of getting il out
again If the Bucket shop man can pre-
vent him from doing so. The letter also
says, we would be glad to have YOU
write 20 Secretary George +. Stone, of
the Chicago Board of Trade, on this SUBJ
iect. II a Bucket shop is conducting OPP
erations m your city, it should be
promptly exposed in order TO save the
money OF your friends and neighbors. -
4 letter has been sent to Mr.. Stone.
The letter also enclosed pamphlet, en-
titled, Exposure OF the Bucket Shop
Evil, which, among other things, SAYS:
III the representative OF any bucket
shop in your locality has received money
from you and pretended to have lost it.
IL is the duty OF your prosecuting attor-
ney TO have him indlcted-without cost
to you-ior obtaining money under false
pretenses Fictitious deals are easily |
shown.
They never actually bought or sold |
any wheat for you, and cannot show any |
evidence Of a transaction for your ac-
count. They can give you the name of
no person of whom they bought or
10 whom they sold, acting as your agent.
or which alleged service they charged
you a commission"
The NEws finds that President Yiyians
action in not interfering with the" Board
II Trade, has lately been endorsed by
Judge Horton, OF Chicago, who has
luashed the indictments in some twenty
our cases, where the owners OF bucket
hops had been arrested. In announcing
lis decision, Judge Horton said:
The board OF trade does a wholesale
BUSINESS in wheat dealing, and what is
allied the bucket shops do a retail trade
There is absolutely no difference I'm their
Methods OF operating, and the statute
'hich makes the board of trade bust
less legitimate does the same for the les
or dealers who conduct the same kind of
ride While I believe personally that it
: all nothing but gambling. the law al
ows it and the courts are powerless.'
Whether such places are legal or illegal
veryone who has taken the least trouble
o enquire into the matter willagree with
be learned Judge in his belief that it is
Il nothing but gambling and. such
cling the case, all those having the inter
st OF their neighbors at heart, will do all |
hat 10 them lies TO prevent such temp
alton as bucket shop, or anything APP
reaching il, from being started in our {
lidst. Persons who might feel like spec
lating can send to Chicago, where they,
erhaps, would only lose their money,
ut il a bucket shop, BOARD OF Trade"
r anything like il were established here,
he spectators might also lose their time
s the temptation to watch the quota.
ons, so as to make a turn. would, no
oubt, in many cases, be too strong to
ssist, and the spectators on the "Board
Trade" would possibly loaf around >
nd so neglect their business, which. in +
)me cases, might lead to their discharge
nd then the deluge