The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-05-01
Revelations Brought to Light
by Raids in New York That
Are Startling.
ELABORATE PLANS FOR
STEALING QUOTATIONS.
Two Arrests Made and More
Will Likely Follow; Eyi.
dence Piling.
sv Leased Wire to The Tribune.

Bv Leased Wire to The Tribune.
NEW YORK. April 30-The Consoh
dated stock exchange of this city was
said to be in connection with an elabo
rate system of telegraph wires, over
been stolen from the New York stock
exchange have been supplied TO bucket
shops all over tho country.
This discovery was made by special
agents of the department of justice in
simultaneous raids on three alleged
bucket shop wire houses. two in Broad
street, this city, and the other in Jer-
sey City.
The men arrested in these raids are:
Frank Maier of the firm Of Morris q
Maier. ~ Broad street, Manhattan, and
Joseph Decker of tho firm Of T. Mar
rim, a Consolidated exchange member,
with Offices at rs Montgomery street,
Jersey City, Maier resides in Brook
Each was held IN heavy bail on the
charge of having conspired with alleged
bucket shop keepers To violate the law
of the United States by conducting bo-
gus stock brokerage Offices in the Dis
trict of Columbia.
Exchange to Blame.
The New York stock exchange. IT is
also charged, is to blame for not eXer.
cising reasonable care in protecting its
quotations. The sensational revelations
due 10 these raids Will, il is believed.
between the New York stock exchange
and the Gold q Stock Ticker company,
which supplies quotations 10 brokers
Offices all over the United States sub
iect to the approval of the New York
stock exchange. The most important
feature in the eyes Of the man of the
department of justice will be the BARN e
of the secret hidden for almost forty
years of the so.called "Marriu wire. -
This is the line through which all the
big bucket shops in centers from New
England across the continent as far as
Omaha, have been served for years with
fast wire, winch enabled them to OBJ.
tam quotations from the Now York
stock exchange from five 10 fifteen min
utes ahead of ordinary tickers on which
their customers relied By this advan-
tage in time the bucket shop keeper
was able TO make every speculation a
''sure thing so far as he was con
cerned
Knocking Bucket Shops.
The three Offices raided are alleged
to be the headquarters of this elaborate
wire system. and the sum total Of the
raid is that almost every bucket shop
in the United States has been pat out
of business.
The Consolidated stock exchange in
this city will be able TO obtain the New
York stock quotations as usual Monday
because it is understood it has made
arrangements to have the prices re-
peated back from Montreal to which
city they are sent to subscribers of the
Gold & Stock company, The great
cleanup of today, which is declared 10
be the most deadly blow ever aimed at
the bucket shop business in this couu-
try, was the second step in the crusade
against bucket shops upon which the
department of justice recently en-
barked The next step likely to be
taken early next week is expected to
be even more ensational, thanks TO
the evidence obtained in the raids to.
day.
1t Is confidently believed it viii lead
TO the arrest and conviction of men
higher up in their nationwide conspira.
cy to defraud unsophisticated and stamp
out for all time this traffic.
The raid of today. which was part of
the plan evolved by Stanley W. Finch.
head Of the new bureau organized at
the direction of Attorney General Wick.
ersham, was supervised by George Scar.
borough, one of the special agents OF
that bureau, who has made a study of
the bucket shop and its methods.