The times. [volume] (Washington [D.C.]) 1897-1901, 1901-04-02
BUCKET SHOP MEN PUZZLED.
They Do Not Know How They stand
Under the Law.


NEW YORK. April The act of Con-
gress. approved March 9. 1901. providing
for the payment on the part of bucket
shop keepers OF a stamp tax of cents
on each 800 worth OF the commodity pre-
tended to be bought sold. a tax of
cents on each 800 of the face value OF
all stocks or other securities pretended
to be dealt in. and additional tax OF
$50 for every main Office and branch Office.
went into effect today.
Before the closing Of the office of the
Internal revenue collector In the Ameri-
can Tract Society building this afternoon.
less than d dozen men had called at the
office. paid the tax. and thereby confessed
that they were keepers Of bucket shops.
All keepers of bucket shops who did not
pay the taxes today are now in arrears.
and are liable. for their defaul. to pay
81 per cent OF the tax additional for their
hardness. and If they do not pay at all
and are detected in running the bucket
shops by the internal revenue agents.
they may be arrested. and If proven
guilty may be fined heavily and sent to
prison.
The enforcement of this law opens up
an interesting field Of speculation and
may cause a great many persons no lit
the tax is called. under the internal reve-
nue. law, "a broker No. q and a. "brok-
er No. 3. under the law. is bucket
shop keeper.
But to keep a bucket shop is a viola
ton of the laws of the State OF New
York. so that it may be that the bucket
shop men will desire to take chances Of
punishment from Federal authorities
rather than to furnish to the police of
the city directory, kept in the office OF
the internal revenue collector. showing
where they do business. where they live
and who compose their firms.
1T so happens. however, that for the
enlightenment of his agents and In re-
Spouse to question from Chtef Agent
Thompson. Collector Treat made ruI-
ing today which may make it very diff
cult for his agents to determine who are
and who are not keepers of bucket shops
The collector holds that under the law
person who Contemplated the deliv-
cry or receipt of stocks or commodities
bought or sold and who is financially
able to deliver or receive such stocks or
commodities when demand is made. can
not be considered a broker No. 2.'sand.
therefore, is not. in the eyes of the law.
a bucket shop keeper.
said today that under the collectors ruI-
ing, he believed it would be next to an
impossibility for internal revenue agents
TO maintain the charge of violation of
the internal revenue laws against any
bucket shop keeper in New York.
Many of the 'bucketerS'' do not feel in
clined to get into any legal ENHANCEMENT.
however. and there was serious talk in
New Street today of wholesale removal
of the bucket shops to Montreal. Toron-
to. or some other Canadian city.
The houses thus removing would have
their agents still in New York, but with
business transacted by telegraph it was
held that "bneketing' would not be an
offence against either the State or Fed
eral laws Alfred R. Goslin. more or
less weli-known In the Wall Street dis
trict tried a game something like this
several years ago. and worked 1t success
fully for a long time.