Arizona republican., 1908-06-01

ones having their headquarters in Cincinnati. These, however, either
 are under indictment or have been
 forced to quit business on account of
 the recent crusade there Of these firms. Morehead & Co, the George H. Stanley Co, and Brown & O..
 probably controlled five hundred of
 fees and their operations extended ] from coast to coast and the Mexican to the Canadian lines. Morehead &
 Co. are the largest bucketshop oper- ators in the United States. They are said to have almost 300 offices scat tered from one side of the country to the other linked together by thou
 sands of miles of private wires. The George H. Stapely Co, which has gone into the hands of a receiver
 since being indicted, had wires from
 the Florida coast to Utah, and had
 planned to reach out to the Pacific coast and to establish string of of
 fices throughout the northwest before
 the approach of the coming winter
 Brown & Co.,, q younger firm, had
 offices extending to the Mississippi
 river, with two large places in Chi
 cago under the names of Bostedo &
 Co and Davies & Co. The Odell
 Brokerage Co., which has now ceased
 to exist, another Cincinnati firm, had
 offices throughout the central, south
 ern and western states. When the
 firm went aground on the financial reefs they were extending their lines into the Dakotas and Minnesota. The
 Edwards Wood company maintained
 140 offices, dotted from Kansas City to Toledo, and Winnipeg on the north
 With these five firms put out of commission, something like 500 buck etshops will be wiped out of exist ence- The remaining 200 are being hunted down by the state and city officials wherever they are found to exist. The Chicago board of trade, to save itself from islander, has been relentless in the pursuit The Mer- chants Grain and Stock company and Christy & Co. are confining their ac- tivities mainly to Kansas, Missouri, and Indian Territory; the lines are tightening about them, however. and they cannot hope to escape attack. Christy & Co. have large offices at Burlington, Ottumwa, Davenport and St. Joseph, and, since the other big firms have been crippled. probably. are the largest bucketshoppers in the United States today
 No other form of gambling has. been more disastrous to the public than "bGcketshopping" because the likeness of a bucketshop in every outward feature to regular and reput-
 l. most insidious. bucketshop is a gambling device with all the para phernalia of a brokerage house. The transactions are wagers, mere gamb ling under the guise only of com mercial transactions. Like the lot tery and the faro bank the bucket shop finds its profits in the losses of it's customers. As a matter of fact all other forms of gambling or swindling are commonplace and com paratively innocent when compared to the bucketshOp, which has caused more wrecks, more dismantled for tunes and more suffering by the in nocent than any other get-rich-quick fraud Forgery. embezzlement, sui eide are its products.
 So ingeniously have the fake con ceYns slammed the legitimate meth ods of boards of trade where the de- livery of commodities dealt in are under a penalty of dismfs sal that even the sophisticated have been fooled. It is a common practice for the big bucketshop concerns to maintain exchanges where hired employees of the concern pretend to be brokers, buying" and selling" with an exact imitation of everyi small detail of trading on the legit innate exchanges That is why they are dangerous. Odell & Company had such an exchange" so did the Wood concern. This com pany was back of the Superior Grain Exchange" All the quotations were stolen from the Chicago board of trade. by means of wire tapping. three eighths or one-fOurth of d cent added to them and sent out as quO- tations of the Superior Grain EX- In this manner firms against whom the Chicago board of trade had ! secured injunctions restraining them from using their quotations, were able ! to evade the law and secure the GOV 1 eted figures. For the things abso- Iutely necessary to the bucketshops are quotations. They put them to the use of the roulette wheel, the faro layout or poker chips. It is impossi- l ble for the bucketshops to secure these market prices from a legitimate board of trade, so they are compell- ed to steal them by hiring thieves to tap wires, or fake them in some way. The instant there are no quota