The evening times. [volume] (Washington, D.C.) 1895-1902, 1901-04-02
BUCKET SHOP MEN PUZZLED
They Do Not Know How They Stand
Under the Law.

NEW. YORK. ApriI 2--The act of Con
gress. approved March ., 1901, providing
for the payment on the part OF bucket
shoIe keepers of a stamp tax OF cents
on each 500 worth of the commodity pre-
tended to be bought or sold. a tax OF
cents on each 500 of the face value OF
all stocks or other securities pretended
to be dealt in. and an additional tax OF
$50 for every main Office and branch office,
went into effect yesterday
Before the closing of the office OF the
internal revenue collector In the Ameri-
can Tract Society building yesterday,
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 yesterday are now in ar
rears. and liable. for their default 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 il 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
tie uEcaSinesS and worry He who pays
the tax IS called. under the Internal reve-
nue. Law, "a broker No. 2 and a ''brok-
er No 3" under the law. is a 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
he oft IF
. 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 a question from Chief Agent
Thompson. Collector Treat made n ruling
yesterday which may make it very diff
cut for his agents to determine who are
and 8-ho are not keepers Of bucket shops
The c Hector holds that under the law
a person who '-Contemplates- the deIiv-
cry or receipt Of stocks or commodities
bought or sold and who is financially
able 10 deliver or receive such stocks or
commodities when demand is made, can
not be considered 4 broker No 2" and,
therefore. i not, IN the eyes Of the Law,
= bucket shop keeper
/ An authority on internal revenue laws
said yesterday that under the collector
ruling. he believed it would be next to an
/ imDossibility 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
| ciTned 70 get into any legal entang Iemeut,
! however. and there was serious talk in
/ New Street yesterday OF Il wholesale re-
rnoyaI Of The bucket shops TO Montreal
( Toronto, or some other Canadian city.
/ The houses thus removing would have
/ their agents Stiu IN New York, but witt
/ business transacted by telegraph 1t was
I held that "bUcketins1 would not be an
J offence against either the State or Fed
( eraI laws AZ d r. Goslin. more OF
/ less yveli-kno~ III the Wall Street dis
/ triet, tried d game something like this
/ several years ego, and worked it success
/ fully for a long time