The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-11-15
CROKER'S BIG FIASCo
STARTED THE BETTING IN VAN
WICK THAT RAN INTO MILLIONS.
Greatest of jag Weeks Followed the
Election in New YOrk-DemOcrats
Drowning Their Sorrow.


This Notwithstanding that some other
campaigns nave been equally exciting. The
State of Illinois was as bitterly contested
ground in 1896 as New York was in 1888. 1t
was expected that the candidate who re-
ceived it's electoral vote for President
would be elected. Yet there was not one
tenth of the betting in Chicago that there
has been in New York. For the wagers,
mounting into millions of dollars, that
were cashed last week the sporting pro-
clivity of Richard Croker was respon-
sibe. The saloon keepers ought to be
greater friends of his than ever, because
the heavy betting made last week the great
est Jag week on record in the city. The
man who wins drinks for joy, while the
man who loses drinks to drown MS sorrow.
The hotels and saloons sold more drinks on
the day after election than on any other
day in the memory of bartenders.
Most of the money lost on bets deposited
with Stock Exchange firms was put up by
Democratic politicians, and most of 1t was
won, not by Republican politicians, but by
spectators. In short, the sports" of the
Democratic Club We're lambs enticed to.
their fate by the wolves of Wall street. The
'cinch' bettor. or, as he calls himself, the
Scientific bettor,' had never had such a
fine opportunity. The Wigwam's office
holders simply dumped money into his lap.
After Roosevelt's nomination little beC-
ting was done at to l in his favor. After
Van Wycks nomination it was to 10 for
some time. Then Van Wyck grew in ia
vor, until finally some bets were recorded
at 10 to against Roosevelt. Shrewd men
on the Stock Exchange took the Van Wyck
end at the beginning and the Roosevelt end
at the close of the campaign. Not a few
of them stood to win, whichever way the
election went
If a man. following the change of odds,
bet 500 to 81, 900 on Van Wyck, then $500 to
81 900 on Van Wyck, then 5000 to 81 $50 on
Van Wyck, then $500 to 1000 on Roosevelt.
$500 to $1,000 on Roosevelt and 500 to $1,000
on Roosevelt whether Van Wyck or RooSe-
welt won, he would have to pay our only
$24OO and would receive $1,000, thus winning
$500 as an investment on his money.
Accordingly, when the odds went against
Roosevelt, toward the last, many of the
Spectators, by betting on him seven to ten,
were able so to balance their bets that they
stood to win great deal in case he was
elected and to lose nothing, If not to win
something. in case Van Wyck. was elected.
Not few actually borrowed money to
carry out their scheme of betting as the
odds changed from time to time. 1t was
business with them, and Croker played
into their hands all the while. His attempt
to force great odds against Roosevelt was
politician has ever committed
HOW CROKER LOST.
1t was Cookers intention by placing money
with Bell & Co., stock brokers, at the HoH-
man House, to hold the odds against Roose-
welt at seven to ten up to the last moment,
as a great incentive to "foaters" to cast
their ballots on the winning side. The gen.
eral opinion of Stock Exchange men was
that an even bet on Roosevelt was specula-
lively a good thing, but that to give any
odds on him was not. When it came to get
ting bet of seven to ten on him they COB
bied up Mr.. Cookers money instantly, SO
that betting on the day before eIectlon was
even. AS is we'll known, Mr.. CROKER nlmselL
lost $4,000, which, considering his reputa-
ton as sport, he paid with bad grace:
Probably the biggest individual winners liNiG
were Alfred de CordoVa and JACOB tleld,
who won about $4,000 apiece. Mr.. F1eld
is a quiet little man and new member OF
the Stock Exchange, who dld nor seem r, Gi,
happy and at the same time was not ereatly
elated the day after election. lie taxes
losses and gains with the sang-frold OF the
regulation Wall-street man :, ga a.,
II bet on Roosevelt" he SAID, IN the
same way that / would buy St. Paul at 80
l considered at even money that a pet on
him was good investment ana, OF c sIl he
better l wouldn't have bet on RooseNelC
when the betting was standing 10 to ( In
ms yd aaV riebt on nh hand with my money.
Most of the winnings by Stock Exchange
men on the result was won In the Same
wav They made plunge when the oudS
were in their favor, and that is what we all
do If the Democrats had put up a m million
dollars at the rate of Z to 10 against Roose,
welt the day before election $IVV,VW "oulo
have been ready to cover II ia
One member of the Stock Exchange Salu
with a chucke that Dick croker Woula DEL PEI!
ter leave Wall street alone and STICK 10 ms
methods of making money exposed py the
Lexow committee. . 49,
Though they hope to the contrary, 'ii is
that we shall not see again campaign III
which so much money is wagered. II mas
been well enough proven that II lsn wo TN
noodle of the brewers back or IL 10 DooSt
the odds on it's candidate artifcially. There
is too much money IN t of this ite' method
Croker's winnings on the second election
Of Cleveland were heavy But, then, ne
placed it quietly and got the h eest az Ioos to t'i
against Harrison. Matt Quay. VINO is sala
to have won 100000 on Harrison's nrst
hefting AS manager of the campaign ne
had inside information. Unlike croker, ne
did not consider that betting Would Lnnu-
ence the vote in the slightest, especlally III
a Republican campaign. So he made 1t a
point to get as good odds as he cou'd.
DID NOT HELP VAN WICK.
"T don't think it would have helped Van
wvck anyway" said an old politician,
s.even if the betting had stood In his favor
the night before election. For every fioater
that it attracted it would bring out one
negligent Republican. 1t is a well-known
fact that the Democrats are good voters
and the Republicans poor ones. When 1t
seems a sure thing for the Republican cam
didate a great many Republicans do not go
to the polls When the result seems in
doubt they realize that their vote is
needed"
If Croker hadn't tried to force the odds
Chairman Odell and the friends that he rep
resented would not now be richer by $4,000.
The chairman had no intention of betting at
the outset of the campaign, except, posi-
blV small amounts with some OF his Demo-
cratic acquaintanceS; but when the Demo-
nose at even money on Van Wyck 1t wasn't
in the chairman s makeup to resist tempta-
ton. He had his information from up State
and from the city districts as Well as
Croker, and aside from his political prefer
ence he considered that as a business propO-
sition Roosevelt stood two chances to one
of winning. Like the Stock Exchange men,
he was quick to appreciate good specula-
tive investment.
Aside from the men who bet in the thou
not appear in the newspapers, who bet 500,
or s50 or $25, or so. Bell & Co. would not
accept a bet of less than $500. The small
bets as well as the large ones, in the late
campaign were more numerous than ever
before. Speculation was in the air, ana II
was increased by the great enthusiasm OF
both sides.
Above the Bronx and in the rural por-
lions and the smaller cities and towns or
the State betting was comparatively heavier
the remarks that minor leaders all through
the State are making about him he would