Arizona republican., 1909-12-30
Option Gamblino,


 and an investigation is. on by com
 mittee of the stock exchange. because
 the common stock of the Rock Island
 railroad went up s31 a share the other day and then fell some $50 a
 share. the market price finally work
 ing back to approximately the price at which the stock was selling before the sensational rise and fall It is claimed that spectators, unprepared for this violent fluctuation. lost more than a million dollars by reason of it. While various explanations have been put forth. the alleged inside" story is that "a certain rich man." having dined too well in celebration of Christmas time, exuberantly sent an order to his brokers to buy a ton of Rock Island stock. The brokers, only too glad to have an unlimited order. proceeded to buy, and were compelled to bid the price up to fabu- lous figures in order to get all they wanted
 The really interesting feature of the incident is the indignation expressed in some of the metropolitan papers on behalf of the gamblers who lost. But why should the public waste any sympathy on men who waste their money in option gambling? Their families are entitled to sympathy, to be sure; but any man who has so little sense as to risk his money in stock or grain speculations has only himself to blame.
 For the individual who loses his money in option gambling the public has no concern. But for the aggre- gate of individuals who support the grain and stock exchanges by con- tributions which amount to tens of millions of dollars annually, the pub lie has a care. because of the wide spread distress and ruin which follow III lhe Ndhe oI tnelr speculdtlOnS. Only a few days ago the Kansas City papers published a pathetic letter written by a woman to the judge of one of the criminal courts of that city. in which she asked that the grand jury be asked to investigate the bucket shops-the gambling places which accommodate men of small means by taking their bets of only a few dollars on the rise or fall of grain or stocks. She stated that few years ago her husband was worth s25,0O0. and had profitable en- ployment; but he had become infected by the fever of bucket shop gambling. had lost all of his little fortune had lost his employment. and had so lost his self respect that he was taking any small change their children had. wherewith to trade" in the bucket shops-Of course. in the vain hope that he could make a winning" and eSt 'i HIS lttl again Anu tnlS WO- mans husband is only one of many thousands of men throughout the country who have been ruined finan- cially and in moral fiber by the in- sane fever of option gambling.
 The Washington dispatches repre- sent that President Taft is preparing to give his endorsement and support 1 to legislation to prevent gambling on | food products and cotton, and that he may extend his support to restrictive i legislation for all marginal dealings | Tn stocks and securities. It is not a ! new question with congress. how ever, and the presidents efforts are | likely to have no better success than | the crusades which have been un- dertaken against the option evil by | other far-sighted statesmen. Coy ernor Hughes of New York has been | trying hard to secure restrictive leg islation in his state, but has made little headway.
 Meanwhile, everybody acknowledges | the evil of option gambling. Little as | We have seen of it in this territory. | t is safe to say that there are dozens | of families that would find next Sat lrday happier New Years day if it i had not been for the money lost by | Arizona men in marginal! "specula- tions" in the shops of the Tucson | man who went broke" some months ago and left his customers with pa- per profits.