The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-05-10
One Indianapolis Bucket shop Dealer
Realized Profits of $4,000 Dur
ing the Day.
SOME EXCITEMENT IN CITY
THE NEWS FROM NEW YORK slim
ILATED THE INTEREST.
Conservative Business Men, However,
Are Not Much Concerned Over
Present Conditions.

The tremendous excitement in the New
York stock market yesterday was COM
municated, in some degree, 10 local in
Vestors in margins. The bucket shops of
Indianapolis had one of the biggest days
in many months. Stories of large winnings
and also of losses were heard i'm great
abundance on the streets last evening. On
account Of the low public esteem in which
these marginal operations are held no one
who had taken flyer" could be found
who would admit that fact.
a well-authenticated story was told OF
the rapidity with which a prominent local
merchant bettered his financial condition
to the extent of $1,000. He walked into a
bucket shop yesterday morning and
glanced with interest at the quotations on
the large blackboard. Seeing L. & n. stock
posted at &C. the merchant remarked to
the broker: "I made a little money on
that stock once, and | believe l will try il
another whirl to-day The broker and the
merchant are not on the best of terms,
friends of the former saying he does not
like the latters habit of doing most of his
trading with other brokers. Possibly for
this reason and possibly because of the
agitated condition OF the market the broker
declined TO accept margins on l.. az n.
" hen, however, the stock rose TO so the
operator felt confident the top had. been
reached, and accordingly consented TO take
the merchants money for margins on 20
shares After standing about for a while
the merchant said: Il am going out on the
street. and if that stock gets UP to 80 L
want you TO sell il for me-.
He turned to leave the room, but before
he reached the exit the broker called out.
Here you arei'' The stock had jumped
~ points while the merchant was walking
he. I'D hA gIa1 n
check for 81, 600.
OTHER WINNINGS REPORTED.
y well-known young business man of this
city is credited with having added $500 to
his wealth through his operations on the
stock market yesterday. The broker VINO
figured in the incident related above is
said TO have found himself richer by $1,000
at the close of business last night through
his per cents of margins put up in stock
Geals.
A man in Indianapolis who does legiti-
mate and very lucrative business as a
broker of stocks, bonds and notes was re-
ported TO have dropped" $4,000 yesterday.
The report caused a genuine sensation
among the mans friends and acquaint-
ances who had not been aware that he
occasionally took plunge" in the stock
market.
The wild stories of fortunes made in the
metropolis have undoubtedly stimulated
activity in local bucket shops. This much
is certain, and hard-headed, conservative
business men are disposed 10 frown on such
operations, declaring that somebody is
going TO get his fingers badly burned.
The sentiment among such men is that
these stock deals Will have little or no Ell
feet upon legitimate business. "A man
who is at the head of a safe, Legitimate
enterprise which he has by dint of honest.
hard work pushed 10 a money making
point said John Wocher last night is
rot going TO risk his investment by plunS-
ing into the uncertainties of the stock
raarI<et 1t is these fellows who have more
money than brains who are blowing in their
cash Oh such deals, and whether they win
or lose cuts little figure with real bust
ness men,.