The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1900-03-03
FOR BUCKET SHOPPING.
Three Leading Members Of the Chioag<
Board Of Trade Under Arrest.

Three leading Members Of the Chicago
Board Of Trade Under Arrest.
CHICAGO, March S.-Three prominent
members Of the Chicago board Of trade
have been arrested by the federal an.
thorities on the charge Of "bucket shop
ping" The men taken into custody
are: James Nicol, first vice president
Of the board Of trade; Henry o. Parker,
who was first vice president of the
board Immediately preceding Nicol. and
Calvin A. Whyland, president of the
Arm of G. A. Whyland g. Co. All of
them are charged with using the mails
to defraud in connection with the firm
Of McLain Bros.
Charles r. and Albert o. McLain,
members Of the board Of trade, but who
announced their retirement from busi-
ness several months ago. We're indicted
by the federal grand jury during the
day, charged with fraudulent use Of the
mails, with carrying on business in the
nature of bucket shopping .nd defraud.
ing correspondents in several states.
Their case will be called in the United
States district court March TO-
Allege ColIusion with McI.ains.
The brokers on the board of trade had
hardly learned the news Of the indict-
ment Of the McIain Bros. when three
deputy marshals walked in and placed
the three other members under arrest.
The prisoners were taken before Judge
Kohlsaat, in the United States district
court, and they gave bonds in the SUN
! Of 5000 each They were then re-
leased to appear to appear in the court
on or before March 10. to plead to the
charges preferred against them. The
three men were indiceed for alleged col.
lusion with the McIAin Bros. i'll a swim
ding scheme and bench warrants were
Mt once issued for their arrest by Judge
kohlsaat.
All three defendants are well known
on the board. and their business meth
ods have heretofore been unquestioned.
They have all been interested in the
commission business for years and have
established large country trade.
The charges against Messrs. Why
land. Ncol and Parker are somewhat
secondary to those against the McIAins,
and it is said failure to convict the
latter will result in the release of the
others.
Made the Fraud Possible.
Is is claimed by the postal authorities
that. while the McIAins carried on the
active correspondence which Is said Il
have been in the nature Of bucket shop
ping the other brokers permitted theil
names to be n>ed and made the fraur
possible. All five men were indicted
Jointly. though only three counts wer,
returned against Parker, Whyland and
{ Nlcu. while six counts were giyei
: against the others.
The true bill charges i'll substanc,
: that the We men devised Il scheme I,
: induce correspondents in several state
;. to send their money for dealing in fu
. turc delivery in grains and provisions
!. that they converted this money to thei
y own use without purchasing or sellin.
on the board, as they had agreed. ant
" that they sent their correspondent
1aI>c written reports Oh purchases aii'
: sales. purporting to show the prices
which and the persons to whom tn
sales were made.
THE MONEY RETI RNE'.
4 senate Committee Turns Over That $50
!, 900 to Montana. Treasurer.
= WASHINGTON. March 3.-The 5000
= used hy Mr.. White>ide in his eNpo>ur
Il in the Clark case before the Montan
- legislature and which was brought I
II Washington when the hearing in tina
a case was begun by the senate commit
). tee on elections and held by 1t eve
IS since has been returned to State Trea
c urer Collins Of Montana. The none
II was brought to this city for the rurpo'
). of Identification and for any other III
v to which it might be put by the con
Il mitt.e Concluding that the fund cou
N be no longer used it was turned over
:. Mr.. Collins. The money will he he