Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-03-31
PROGRESS IN WADE TRIAL
ARGUMENTS OF COUNSEL HEARD
IN COURT TODAY.
Case Nay Go to Jury Late This
Afternoon-Views of the
Attorneys.

The trial OF Percy Wade. charged with
violation of section sos of the code, in
that dle set up gaming table in the op-
Grafton Of an alleged bucket shop in the
Ouray building. sth and G streets north
west. entered it's final phase before JUS
tice Barnard in Criminal Court No. to-
day. Closing arguments were made to
the jury by Attorneys Henry r. Davis
and John Laskey. counsel for Mr.. Wade,
and by United States Attorney Baker
and Assistant United States Attorney Nc
Namara. for the government. and it is ex-
pected that Justice Barnard will deliver
his charge late this afternoon. so that the
defendant may know his fate before the
day is-ended.
Opens Governments Argument.
Arguments for the government were
opened -bF~-Assis,ant United States Attor-
ney Stuart Mcnamara. who at first dwelt
upon what he characterized the peculiar
features OF the Wade case.
Ii YOU WISH W Duy d SildIS III SloCk
you would naturally go TO broker who
makes il his business to deal in such a
commodity said Mr.. Mcnamara and he
proceeded to describe in detail the oper-
ations Of the New York and other stock
exchanges and OF the brokers who trade
on the floor.
The defendant here is charged with
keeping place for gaming continued
NJ I'm x.,Sl tr,y cko
TO you that he maintained his business
| house solely for the purpose OF receiving
orders to buy or sell pretended shares OF
| stock. and that there never was an in
tention to secure or deliver any actual
shares but only 10 make settlements or
the differences between the buying and
selling prices. The attorney reviewed
the testimony OF the witnesses G. Lans-
burg. George NJ. Dove and Charles E.
Harris. and said each OF the three dealt
stock and yet none OF them ever received
or expected to receive a single share of
stock: that they were satisfied TO get
their profits or pay their losses upon the
difference between the price at the time
| trade was made and the time it was
"closed out"
Mr. Mcnamara laid particular stress
upon that portion of the evidence which.
he said. showed the unfailing custom OF
the defendant to take out at the very first
his one-quarter per cent commission for
the double trade Of buying stock for a
customer and later selling It, thus
establishing what was specified as the
fiat price
Regarded as Conclusive.
Without other evidence this alone Of
| fers conclusive proof that no actual de-
| livery of stock was contemplated said
Mr.. Mcnamara. and you should recall
| that the defendant or his clerks. made no
| effort TO record the names of persons who
came to his Office to trade except in one
or two very isolated cases. where actual
delivery OF stock WAS contemplated. and
then you find him telling you. Oh! yes.
We must be very careful under such cir
cumstances. because the stock must be
made out and recorded.
! The attorney referred 10 the extreme
ly expeditions method of putting IL rough
transaction: the filing of an order: the
| teiegraphing Of that order to buy or
sell" and within q minute and q half or
two minutes the receipt Of the reply
| ''tiled.''
Can you imagine that in this brief
time broker at the other end OF the
| wire. which are told was in Jersey
| City, could have gone out anywhere and
| found another broker who wanted 10 buy
or sell the particular stock on which a
/ transaction was based?" Mr.. McNama "a
asked. NO. II is clear that the defend
ant vas conducting buckef shop and
that his business and the business Of his
! customers VAS purely speculative
In conclusion Mr.. Mcnamara said the
! government: would ask, and that the
/ charge Of the court would so specify. that