The times., 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 2 cents
on each 800 worth of the commodity pre-
tended to be bought or sold. tax OK
cents on each 800 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 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 default to pay
81 per cent Of the tax additional for their
tardiness. 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 II 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 great many persons no lit
tie uneasiness and worry. He who pays
the tax is called. under the internal reve-
nue. law. "a broker No. 2" and a "bTok-
er No. ,. under the law. is bucket
shop keeper.
But to keep a bucket shop is viola
tion of the laws of the State OF New
York. so that it NAV be that the bucket
shop men will desire to take chances Of
punishment from Federal authorities
rather than 10 furnish 20 the police of
the city u directory, kept in the office Of
the internal revenue collector. showing
where they do business, where they live
and who compose their firms.
IT so happens however. that for the
enlightenment OF his agents and IN re-
sponse to a question from Chfef 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
a person who 'cOntemplates' 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'Hand
therefore, is not, in the eyes Of the law
Il bucket shop keeper
An authority on internal revenue laws
said today that under the collectors ruI-
ing. he believed it would be next TO an
impossibility for internal revenue agents
10 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 enlargement
however. and there was serious talk in
New Street today of a wholesale removal
of the bucket shops to Montreal. T0rOn-
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 ''bucketing 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 it success
fully for a long time.