The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-07-04
to play when you've lost 50 much? I

sadly. 1T fascinates, and there's some
thing that makes 1t impossible to quit
One loses and then tries to gain back
ones losses. and 80 continues until there
is nothing left. I'd advise you to STOP
before you begin Otherwise it's toe
late. Why, just let me tell you about
one of tho INCEST little girls ever knew
She had god position and supported
her mother. Shesaved $500. Then she
got the fever to double IT, not by work
mind you, but by specula ton She was
advised 10 use part in speculation. She
did so and lost. Then she took more
from her little bank account to get the
first loss back. and this she repeated
until her money was all gone. She was
almost crazed. for not only her bank ac-
count had gone, but her position. and Ill
ness came to the little mother. I don,
| know what she lives on, but she is
ticker mad as il is called. She haunts
every place where she can read the tape,
! always hoping against hope to retrieve
| some of her tiny fortune"
At this moment woman whose eyes
mad been glued TO the tape during this
| conversation looked UP and said TO her
! friend:
We'll. you've got some profit in your
Northwestern" but her eyes immediate
| ly returned TO the tape.
There" said my self-constituted
| guide, had told you to buy Northwes-
tern whehn you came In you would have
| made 81 profit. made ST."
How is It," asked. don't you have
TO pay something for the privilege Of u.s.
ing this office?''
well, l guess you do" replied the
woman. who was apparently well pleas
ed with her little gain. you can't
touch thing under SO. That's the
| amount you have to put up on ten shares
the smallest amount they deal in.
The house takes 50 Of this at once, and
81 is left for you as a margin for your
speculation. Your gains or losses come
out OF the 81. This is bucketshop, you
KNOW" she said in a whisper, "and is
run on the same plan as all these others
right around here. I've made money
the street, and lost ii, too. You see that
woman at the ticker? Well, yesterday
she bought sugar, and today she's lost
because she asked my advice and took
il. Naturally, she feels that ! am to
blame. she has made lot In tobacco,
too. But she's dropped $4,000 in look
ing at the tape just as she is doing now"
1 gazed intently a. the little woman
who sat so quietly letting the white tape
with its blue letters slip through her fin
gers, and 1 wondered IL her face showed
any more sign of emotion when the
thousands Of dollars slipped through
them. She was world weary, but her
nerve never left her. and she played
in stocks as easily and apparently as
carelessiy as though she were playing
cards.
L took occasion to hook about the room.
On the opposite side, and near the black
board, was mite Of woman who rock
ed constantly and nervously in her chair.
She was very Old, with her face full of
wrinkles, and her thin hair was white.
1 could see her watching eagerly every
number as il was placed upon the board,
but no sigh escaped her.
Two women dressed in deep mourning
entered and took my attention from the
little old lady. - They operated only in
wheat. and in that they made great
deal of money for themselves I was
told that they would manage deals for
any one else who wished to confile their
money TO Their keeping. learned that
these two were mother and daughter.
and that they made good living in that
wey.
We'll" said my friend, what do you
Of it by this time? Take the advice
of an old hand at it and don't begin.
Save your money and let i: accumulate.
Make it by honest labor and not 10y
gambling. You'll sleep better. It's diff
ferent with US; we've been at il for
years. We all know one another and
it IS seldom stranger enters our ranks.
Don't begin it."
She turned her attention to the ticker
which was bringing in the news that
some one had made money. but IL was
not the little old woman, who sighed IS
she gathered up a few things and put
them in black silk bag which hung on
her arm. She smoothed her stray locks
and fastened her bonnet strings. got up
slowly from her chair, and. with faiter
After O'Clock, at which time the
Stock Exchange closes for tine day. a
woman who had already given me so
much information and good advice, ex-
planned to me the method Of operating
in this kind Of a place-a bucket shop"
as she called il
81 DON'T know where the name came
from" she said, unless it g due 10 the
sfnallness of tn eamount Of stock usually
traded in at each transaction by the
Of people who frequent them.
as the great we'll or spring of specua-
ton, and these small affairs bear the |
same relation TO the Exchange that a |
bucket does to the floating stream. The |
method of dealing is wholly different |
A genuine broker on receiving anorder |
10 buy or sell stock or grain or cotton |
t openly on the floor of one Of /
the exchanges. The bucket shop re- |
ceives on the ticker quotations OF the |
prices of the different commodities, and |
a customer may make a deal in the |
bucket shop at the latest received quota
ton. The bucket shop alone records and |
stands behind the transaction. you
buy ten shares OF sugar at 123 in the |
bucket shop, You need put up only SO.
that IS. a share. II the market price goes
down TO 122 the bucket shop keeper
wipes YOU out and your money is ire
voca bly, lost. But f the price goes I'D.
v henever you are satisfied with the
amount OF profit you can close cut your
Heal and receive your margin back. with
the difference between the price a; which
YOU closed IL out. Most bucket shops
,harge one-eighIh ot one per cen, COM
mission. bur bucket shops for women