The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-11-15
SHOW DOWN DUE
If Hammond Is Indicted, His Trial
Will Shed Light on Bucket
Shop Methods. .
His Record Before Coming to Mime
apolis Presents Some Extremely :
Interesting Features.

Local grain men are much interested in
the case Of w. ]. Hammond, manager of
the Coe Commission company, against
whom criminal charges have been laid
before the grand jury. The Coe Commits
sion company is the largest and the most
successful bucket shop concern in the
northwest and has given the Minneapolis
chamber OF commerce considerable
trouble. For this reason chamber mem
bers are hoping that Hammond will be
indicted, and his indictment is confidently
expected. He IS now. under 81 900 bonds
to await the grand jury's action on q
complaint lodged against him by L. A.
Hughes of st. Paul, customer who
claims Hammond beat him out of his
money. -.:
Recent investigation into EIamimond's
past record has brought to light the fact
that he was known as a bucket shop man
and get rich quick schemer' in Chicago
as long ago as 1897. His record is famil-
lar to members of the Chicago board Of
trade and is spread upon the books of that
institution.
When Hammond first began to attract
attention through his dealings in the
windy city he gave as references the
names of o. M. Stone and J. J. Sheridan.
Stone was found to be an old time wire
Taper who had caused the board con-
siderable trouble in the past, and woh
had been enjoined from stealing its quo
tations. Sheridan was a telegraph OPERA
tor In the employ OF Barrett, .Franum &
CO., board members. He had known HAM
mond some time before, but denied that
he had authorized the use of his name.
Other references given included the
names OF board members, none of whom
knew Hammond or had had any dealings
with him, the man apparently seeking to
convey the idea that he did business on
the floor Of the board.
On Feb, l. 1888 Thonoas n n,r,otA -.
Barrett, Franum & Co., met Hammond
In the board of trade building and
thrashed him severely for using his name
without authority. : : - i: :" y,
Caught Tapping Wires. =.
A few months later, a farmer discov-
cred two wire tappers at work & few
miles out Of Terre Haute, Ind. He
| thought they were Spanish spies and sent
for the sheriff to take them into custody.
The men proved to be Hammond and his
old friend Stone. They had tapped the
wires for the purpose of defrauding a
bookpaker of Evansville. Stone was sent
| to Jail for six months, and Hammond was
| released for want Of jurisdiction.
One of Hammond's Chicago companies
was known as the Combination invest
| ment company He was president .Of the
/ concern, which went into bankruptcy In
1899 with liabilities Of about 5000, 900, on
| which creditors realized only about 8 per
cent, Notwithstanding the liberal profits
| OF from Z to SO per cent a month prom
ised them through operations in the grain
| market 1t is generally understood that
| the officers Of the company got away with
the greater proportion of the moneyswhicf
| they claimed to have lost. :, JEW
| Hammond's, operations in Minneapolis
| have been less spectacular than his Chi
| cago experiences, but he does not appear
to have changed his business principles
His firm, the Coe Commission company
advertises extensively and has Offices in
Minnesota, North and South Dakota and
| Montana. He Is said to have reaped a
| harvest of $1,000 from three citizens OF
| Canton, s. D., recently. The company
advertises to control. the most extensive
private commercial telegraph system ir
| the world" refers ~glibly to the "com.
mercial agencies as references an6
speaks of seventy-seven national and
state banks as its repositories.
A report from the grand jury on the
| case against Hammond taken up from the
police court Is expected shortly. Should
! an indictment be returned, as Chamber Of
| Commerce members hope and expect
| many other interesting details OF Ham.
mond's career will probably be brought
to light. Being a criminal instead Of {
civil action more latitude will be neces.
sary and it Is understood that certain
chamber members have interested them.
selves In Hammond's case to the extern
of having his past record looked int
by detectives. s