The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1909-06-16
THE BUCKET-sHOPs, DOOM.

OHe OIL the IuOSL
pieces of legislation which was en-
acted by the last legislature is a law
which makes it a serious felony for
any person to operate in Kansas a
bucket-shop-a place where stocks
and grain, cotton and other COM.
moCfities are bought and sold on mar
gins. 1t went into effect on the pub
LEGATION of the statute books a couple
of weeks ago. If it is enforced to
the letter, as it should be, and prob
ably will be, some cankerous growths
in several of the communities of the
state will be removed. Kansas had
a law on this subject but it proved to
be ineffective. There is little rea
son to believe that the new law will
meet with a similar fate. 1t lis most
carefully drawn and equally compre-
hensive.
Under it's terms. a bucket-shop is
defined to be an office, store or other
place wherein the proprietor or
keeper thereof, or other person or
agent, either in his or its own be-
half, or as an agent or correspondent
of any other person, corporation, as
ISOLATION or co-partnership within or
ness of making or offering to make
contracts agreements, trades or
transactions respecting the purchase
or sale, or purchase and sale, of any
stocks, grains. provisions. cotton or
other commodity or personal property
wherein both parties thereto, or said
proprietor or keeper, contemplate or
| intend that the contracts, agreements,
trades or transactions shall be, or
| may be, closed, adjusted or settled
| according to or upon the basis of the
market quotations or price made on
any board of trade or exchange where
there is competitive buying and sell
| ing, and upon which the COM
modities or securities referred to in
| such contracts, agreements, trades or
| transactions are dealt in, and without
a bona fide transaction on such board
| of trade or exchange, or wherein
| both parties or such keeper or pro-
| prietor shall contemplate or intend
| that such contracts. agreements
| trades or transactions shall be or may
| be deemed closed or terminated when
| the market quotations of prices made
| on such board oftrade or exchange for
| the articles or securities named in
such contracts agreements, trades OF
/ transactions shall reach a certain fig
ture; and also any office, store or other
place where the keeper, person OF
/ agent or proprietor thereof, either in
| his own or its own behalf. or as an
agent as aforesaid therein, makes OF
offers to make, with others. con-
| tracts, trades or transactions for the
/ purchase or sale of any such com
modify, wherein the parties thereto dc
not contemplate or intend the actua
or bona fide receipt or delivery o,
such property, but do contemplate oil
intend a settlement thereof based
! upon difference in the price at which
| said property is or is claimed to b,
. bought and sold.
d This felony is punishable by i'm
prisonment in the penitentiary for no
less than two nor more than fiv'
| years, or by imprisonment in TIL
county Jail of not less than six months
or more than twelve months Their
is also the further good provision il
the bill that the owner of any build
; ing which is used for the purpose o
a bucket-shop is deemed to be guilt.
of a misdemeanor and can be pun
ished by a fine of not less than $40
nor more than $500 or by imprison
| ment in the county jail of not les
) than 80 days nor more than 81,
months.
The operation of a bucket-shop i
, nothing less than gambling in one o
Tits worst forms The men who con
duct them merely bet their owl
f money with those persons who ar
foolish enough to patronize them tina
: stocks or grain or other conmoditie
i will or will not reach such figure o.