New-York tribune., 1910-05-01

the Western Union service there were
Postal wires and telephone conlmunice-
tion. II the first was out Of business the
Postal was used. and IL the whole tele-
graph system was damaged then the
sslephone was employed. The instru-
snents used by the telegraph operator
mechanically relayed the messages re.
reiveo from New York. There was not
She fraction Of second lost IN trans
mission.
At No ~ Broad street the equipment
vas as complete as in Jersey City. It
WAS the distributing centre But where
did these places get their quotations.
Jersey City received them as quickly as
did No. 1e5 Broadway, the Offices of the
Western Union Telegraph Company. No
~ Broad street was not behind.
The New York Stock Exchange has a
nsy-to-day contract with the Gold and
Stock Telegraph Company. a subsidiary
ef the Western Union. It furnishes the
hckers with the quotations. The floor
figures are sent 70 No. 1875 Broadway,
where they are sent to the ticker ser
Vice. The Offices OF the Gold and Stock
Telegraph Company are on the eighth
floor of the Stock Exchange Building.
The government agents were not ready
20 say how the messages flashed TO No.
laS Broadway could be intercepted by
the Marin people. That they got to No.
IS Montgomery street, Jersey City, as
soon as at No. 195 Broadway was estab-
Iished. That in turn they were received
snstantaneously at No. Al Broad street
also was proved
Quick Wire Income Big.
Marin charges the Consolidated Stock
Exchange and his large customers
sGnons the bucket shops $50 month
for the service. The large bucket shops
cell it to the smaller fry. 1t was said
yesterday that the Western Union Tele-
graph Company makes about S3.e0o.o00
. year from its stock quotation service.
AS Marin gave simultaneous quotations
TO houses in Philadelphia, Baltimore,
Washington. PittsbuTg and Boston, to
mention only the larger cities, his In
come from the quick wire was not small.
II was the establishment OF the relay
system that made II possible for Marin
TO win the bucket shop service. The big
illicit concerns did not have 10 endanger
their liberty by tapping the wires. Until
the federal government enacted q law
against bucket shops as bucket shops
they were comparatively immune They
pcsed as brokers Marin turned the
trick for them, and now Marin Is lost
- The business, Il was a death blow.
Marin attempted te hide the source
OF his information by an ingenious de-
Vice, but not 50 secretive wes IT that the
government agents failed to fathom 1t.
From Jersey City the messages were sent
TO Philadelphia on the Postal wires:
thence they were telephoned to Balti-
more. and there picked up by the West
crn Union wires. There was no conceal
rnent so far as the connection with No.
~ Broad street was concerned.
In the investigation OF the system the
government agents shadoHed No. 6s
Broad street. For a long time they
were at a loss to know how Mr.. Bryces
office figured IN the Marin scheme. They
paid little attention at first TO a man
carrying u bag who entered the place
every day between IL and 11:30 O'clock.
Then they sfladowed him when he left
the place and learned that he Went 20
the Consolidated Stock Exchange. The
rest was easy after that discovery.
George Il Miller is the chief tele-
graph operator at the Consolidated. He
4 ras who ristted the Bryce Office every
day. In the bag was a telegraph instru-
naent, and he disconnected the ticker.
connected his instrument with the wires.
and at 11:S0 o'clock sorvarded TIE mes
ssges. Later it was learned that ths
Marin operator in Jersey City went TO
luncheon at ll:30 O'Clock. Then little
further inquiry revealed the fact that
Miller relieved the Jersey City operator
fn the luncheon time. Il was all very
simple when the facts were known.
The government agents learned also
that ali the wires used by the Marin
service were installed by the Western
Uilicr Telegraph Company end tbs !
Postal Telegram Company under con-
Sracts. u was said last evening that |
the Cold Stock and Telegraph Company /
cannot supply tickers below Chambers /
street without permission Of the Stock |
Exchange, which controls the service in l
that SECTION. There sre ticke~s on the /
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