The Richmond Virginian. (Richmond, Va.) 1910-1920, 1910-09-29
RAID ALL OFFICES
OF SHEFTELs & CO.
Police in Five Cities Pounce
Down on Alleged Bucket
Shops.
MANAGERS ARE NABBED
Department Of Justice Ordered
Simultaneous Crusade Be
cause of Fraudulent Deals.
MANAGERS ARE NABBED

N"uSN VI Il aotllGItt LEdlSs
NEW YORK, September 2a.--Th
brokerage firm of Il. II. Scheftels and
Company, one of the biggest euro
houses in the country. was raided by
the police this afternoon. Schefteis
and half dozen OF his clerks were
placed under arrest and taken away
In patrol wagons. IL was stated that
the arrests were made at the in
stance OF the postoffice authorities
The Information in the case was
secured by the bureau OF investigations
OF the department of justice at Wash
ington. rhe charge rs violating the
antf-shop law The firm has branches,
operating In Chicago, Philadelphia.
Boston. Detroit, Milwaukee and Proyi-
dence
George Graham Rice, an ex-convfct,
the leading spirit in the Scheftcls
firm, was also placed under arrest
The arid was spectacular.
The curb market. evidently with I
up OF what was to happen. was IN the
throes of excitement. RAW Hide Min
ing stock in which the Scheftels firm
was interested. was being orered at
y cents. Jumbo Extension fell to 81
cents and Ely Central, another Schef-
tells stock, was going at So cents. The
drops were unprecedented and the
curb was Wild win the fever or
speculation A big patrol wagon
dashed through the packed Broad
street and halted. In the midst of the
scram bling brokers in front OF the
Scheftels firm. squad of policemen.
led by postoffice inspectors. dashed
into the offices. made the arrests and
seized every book and paper in the
place before the Office safe could be
closed.
Nine Arrested.
1t was stated at the Office of the
United states district attorney that
nine men in all would be arrested In
the New York Offices OF the company.
Seven of them we're captured In the
Broad street raid and Central once
men. with postotfice inspectors wers
cent to other parts OF the city to cap
ture the other two men sought.
The arrest was Followed by Wild
trading on the curb. all the interest
eentering on the mining stocks
handled by the Schefteis Arm ana
boosted in every section OF the couu-
try by means of daily market let.
ter. which 10 supposed 10 have been
the cause of the arrests.
The Scheftels issues were offered
freely. without any kind OF support.
Jumbo Extension sold down TO So: Ely
Central down to a5. and Raw Hide Co.
aiition down to cents. Other curb
mining stocks were down far below
the normal and the curb market was
the sight of feverish selling.
Bareheaded brokers, with clothes
dishevsled and hats gone. fought like
mad around the roped confines OF tbs
curb market. and conservative brokers
from the Stock Exchange looked on in
Amusement
6ostcn offos aaidsd.
BOSTON. Sept. 29,--The local osYie>s
of f. III. Sheftela & Co. curb brokers.
We're raided this afternoon By the F~d-
eral authorities George w. Hoibrcok.
in charge, was arrested.
In Detroit
DETROIT. MICH. Sept zs--Ths
local branch OF the b. H scheftels q
Co. brokerage house was raided by
the Federal authorities here to-day.
The charge In violation of the national
laws against bucket shops, The local
manager. r.. K. Waterman viii be sent
TO New York. II Is stated, for action by
the Federal authorities there.
In Chicago
CHICAGO, Sept. 2s.--The Chicago
offices OF u. n. Scheftels 4 Co, brok-
ers, was raided by Federal authorities
at noon to-day. Only the local mani
ager was arrested
IA