Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-03-26

who was present as spectator. After a
quick passage of words Mr.. Holland
called the witness a "blackmailer." Bish-
op vehemently denied the charge and de-
clared he had been Instrumental in secur-
ing the conviction OF an alleged bla x
mailer with whom he was charged with
The United States attorney called the
courts attention TO the difficulty. and
after hearing an explanation Justice
Barnard cautioned Mr.. Holland against
a repetition of the language. The spec
tator profusely apologiZed to the court and
the matter was closed.
Attorney Laskey told the jury he ex-
pected to show that Mr. Wade at the time
charged in the indictment was licensed
broker. doing business publicly adver-
Using in the daily press and soliciting
business He said he would show Wade
understanding of the meaning Of the
word bucket shop" to he place where
stocks could be bought in small lots in
contradistinction to the regular broker
age establishment. where transactions Of
less than 100 shares will not be permit
ted. With this idea in his mind. the
attorney declared Wade acknowledged
running bucket shop.
Origin of the Term.
Mr. Laskey said the name bucket
shop originated in the grain market of
Chicago, where tens of thousands of
bushels of grain are bought or sold at one
time. Smaller investors We're advised by
these larger dealers to take their business
to other houses, where they might buy a
"bucketful' of grain. He promised to
show that Wade dealt with the Stock
Grain and Provision Company of New
Jersey. a concern having. he stated. a
capital of $2iD,HW and a surplus of like
amount. The New Jersey company. he
declared. had in 1907 actually delivered
stocks in various parts OF the country
To the extent of $10.O00OND.
Mr.. Laskey claimed no transaction such
as alleged in the indictment had been
proved, and said Wade never dealt with a
customer ON gambling wager as to the
nuctuation of the stock quotations. Wade.
he stated had no interest in whether the
market advanced or declined. and was
only Interested to the extent of his com
mission on the purchase or sale ordered
by the customer.
The first witness called for the defense
was George X. Lee. "A government wit
ness. Lee cuntradiclsd the testimony of
Secret Service Agent Nlink- as Ia the
conversation with Wade, when klinke
said Wade acknowledged he conducted
bucket shop, and did not care what he
was called as long as he got the money.
Defendants Testimony.
The defendant was the next witness.
He stated he has resided here for ten
years. and has conducted stock
brokerage for the past four years. He
paid a license fee of 500 annually to the
District government, he testified, to con-
duct his business.
He described the manner of conducting
his business and identified contract with
his correspondent in New Jersey. by which
the latter agreed to deliver to him any
stock contracted for on three days notice.
He operated under this agreement until
last August. He had ticker service
furnished by the Western Union Tele-
graph Company. and received quotations
of the stock market over the ticker
Nj Wade gave his definition and con-
Ception of the words bucket shop" which
were identical with that outlined by At
torney Laskey in his opening statement
In Response Ia an inquiry of counsel
MIR Wade said he never had an under
standing that the transactions with his
customers were To ne mere Wagers on
the fluctuations Of the market. He an