Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1900-10-21

have become D c1utious a6out par
Etic4pating n campaign ventures than
In former yeaxs.
But apart from this telling u can
ton. there have been tacbOEe which d.
rectiy counssHed poatpunemouk OF spec-
kgatfve schemes: and Throughout the
esummer and since the tall set In the
prospect Of the elections and the UNI
certain prospect Of the money market
have been construed az calling for an
attitude OF waiting. and u has been
regarded as wise policy to allow the
market to drift until those uncertainties
have become matters Of the past. With
In the last week or two, however. the
probabilities on both these points have
undergone a change which is widely
contrued as placing both In the list OF
certainties.
The Chicago Board of Trade has been
engaged all summer waging war against
the bucket shops, and has summarily
dealt with several of its members for
having had competitions herewith. The
Governors of that institution have also
ordered all public quotations stopped.
and are % organizing their telegraph
service so as to keep the quotations
Within their control and from being
obtained by bucket snop dealers. 1t
may become necessary for all other
legitimate exchanges throughout the
country to take similar action before
this demoralizing business is broken up.
There is no doubt but that a great
deal of the recent stagnation in the
commission business of Wall street and
other leading financial centres is large
ly attributable to the immense aggre-
cation Of bucket shop transactions
which have kept business out of the
various exchanges. The New York
Stock Exchange several years ago took
a decided stand in the matter, and has
been vigilant ever since, but has not
yet taken the extreme action that the
Chicago Board of Trade has lately
done. 1t may, however, be found nee
essary to do SO later on before the
country is rid Of this great evil 1t is
evident that the New York Stock Ex-
change has not been inactive in this
matter, as will be shown by the action
taken at the special meeting of the
Governors of the exchange on April 10,
1893, resulting in the expelling Of one
of its members for making a fictitious
CidIodCtlOu Will OuG VI uiS CuSlUulCio,
thus showing the severity with which
the New York Stock Exchange is pre-
pared to deal with it's members under
such circumstances. This is evidence
Of how the New York Stock Exchange
feels towards bucket shop dealings, so
that the Chicago Board of Trade, in
their war, may naturally expect all the
cooperation that the New York Ex-
change can give them in their good
work.
A great deal of assistance can be
rendered to all the exchanges In root
ing out the practice Of fictitious trans
actions If operators will make an ex-
ample of those who treat their orders
that way. A customer who gives an
order to a commission firm in stocks,
grain or cotton, is entitled to the exc
cution of it on the floor of the specified
exchange, and it is the only honest way
in which it can be executed, and it will
not have a Legal standing in court un-
less 1t is so executed-and losses can
be recovered or all transactions hat
are not genuine. There is no better way
OF breaking up the the bucket shops
than by operators demanding that their
orders be executed on the floor Of the
Exchange in all instances. 1t is neces-
sary for an operator TO have as full
confidence in his banker or broker as
he has In his doctor or his lawyer,
otherwise he will soon find his judg-
ment impaired and his bank account
depleted. HENRY CLEWS.