The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1908-03-19

announcement from Washington
that by direction Of President
Roosevelt. an investigation will BE-
conducted by Herbert Knox Smith.
commissioner OF corporations In the
department Of commerce and labor.
the purpose OF which Is To find out
II law can be enacted to prohibit
stock gambling Strange as II may
appear to those antagoistic To
Wall street. the proposition 10 In
vcstigatc the New York stock eX
change. which, It is presumed. will
likewise include the Consolidated
stock exchange. meets with the I'M
qualified approval OF every one hav.
ing the real interests OF Wall street
at heart. II is looked upon as the
first opportunity which the stock
exchanges of this city have had TO
demonstrate to thccountry at large
the manner and method employed
In the conduct OF the daily trausac-
tions on these institutions. The
popular impression is that nothing
hut gambling Is conducted ON the
local stock exchanges. whereas,
nothing could be further from the
truth. As a matter OF fact there is
no business of any description IN
which honor plays for large part.
and II Is on this account mainly
that the officials OF both local or.
ganizations as we'll as all the indi.
yidnal members thereof hail with
delight &c proposition TO inyesti-
gate their mode OF doing business.
1t is of course quite true that
certain evils have crept into Wall
street These. however, may be
laid principally. IL not wholly. az
the doors of the so-called bucket
shops and the Broad street curb
market. with the latter perhaps the
greater transgressor. In that mar
ket. which has no organization
whatever. and therefore under re-
stralnt or regulation of any kind, all
sorts of questionable enterprises
have been and are being foisted upon
an unsuspecting public. and 1t Is
largely through the losses that have
been sustained through this chan
mel. as we'll as through the bucket
shops. that Wall street as whole
has been made to bear the brunt of
all sorts of attacks.
BE it said 20 the credit Of the Of
1,ials OF both the New York and
the Consolidated stock exchanges
that every facility Will be- offered
| Commissioner Knox when he under.
takes the investigation OF either or
both Of these institutions. These
officials maintain that there is ali
solutely nothing for them TO conceal
in regard To their exchanges or their
management aud therefore they pro
pose showing Mr. Smith anything
and everything they have which
may throw any light whatever upon
the questions into which he propos
cs to probe.
Members of both exchanges Ike.
wise are rather jubilant over the in
PRODUCTION of measure at Albany
looking To the abolition of bucket
shops. With the possible exception
NJ the Broad street curb market.
through which numerous mining en-
terprises or absolutely no value
have been floated within the past
few years. no eyil has done
more harm to legitimate Wall street
than these same bucket shops. II
is therefore obvious that the mem
hers of both stock exchanges court
the possibility that bucket shops IN
this state may eventually be wiped
out. as a matter OF fact, they VIII
g. everything in thair power to
bring about such an end.
As regards the general stock mar
kct position. there has been n stili
further improvement during the past
week and prices all around have rec
orded quite a sharp advance in re-
sponse to further covering of short
contracts. as we'll as to renewed
buying by the outside public. who
have evidently become convinced
that the market has turned perma-
nently upwards. The factors re-
ferred 10 in previous adyices from
YOUR correspondent have continued
In force during the past week; IN
fact, there have been further eviden'
ccs Of an additional betterment In
several branches of trade and Indus
try. as also among railroads. How
ever. towards the close Of the week
there were indications Of reaction
t.N h4