New-York tribune., 1910-06-11
RAIDS ON BUCKET SHOPS.

The indictment returned by the federal
grand iury in Washington yesterday against
the Western Union Telegraph Company is
the outcome of two raids made by special
agents of the Department of Justice on al
legged. bucket shops which obtained their quo
1a+ionS by means of the wire service fur
rished by the telegraph company. The nrst
OF these raids took place on April :, on
which date federal agents made stimuli
taneous descent On alleged bucket shops in
this city, Jersey City, Philadelphia, BalIi-
more. Washington, Cincinnati and St Louis,
and arrested sixteen men out of twenty
nine who had been indicted by the federal
grand Jury for conspiracy to commit an Of
fence against the laws Of the United States,
for whom they had bench warrants issued
by the Supreme Court of the District of Co
lumbia. THE others We're taken into Gus
tody later the last being Gatins, who was
not found until April p.
The indictments as a result of which the
simultaneous raid was made were found
against z s. Boggs & Co. Of this city and
Philadelpbia. who had 101 OF 1O2 branch
Offices: Price & Co, of Baltimore, with
eichtv-one branches in the Southern States,
the Standard Stock and Grain Dealers. Of
Jersey City. which had seventy-siX branch
Offices, and the men supposed 10 be interest
e6 in the three concerns. Among the men ar
rested were Leo Mayer and Richard E.
Preusser, who were reputed to be the chief
hackers OF the Boggs concern. Preusser
killed Miles Mcdonald, a bucket shop man
aeer. in Albany several years ago. and sub
seouentlv was confined for some time in
the Natteawan asylum. Both he and Mayer
were formerly Interested IN the Manhattan
Stock and Grain Dealers Company, Of Jer-
sev City in which both Big Tim" and the
late Little Tim Sullivan were stockhold-
ers. Preusser was manager Of this concern.
which was raided by the police on January
80, 1907.
The second raid was made on April 80,
when the government agents descended on
three places simultaneously. They were
No. a Broad street occupied by Morrison
& Maier: No. 68 Broad street, occupied by
William. A. Bryce, and the office of Thomas
Marin. Of No 76 Montgomery street, Jer-
sey City. who. according TO the federal
authorities, supplied all the bucket shops
in the East with quotations. The raid re-
vealed the fact that Marin had been fur
nishing the Consolidated Stock Exchange
with its trading quotations, the cutting Of
the wires leading from his Office silencing
the tickers on the little board"
At the Offices of the Western Union Tele
graph Company yesterday it was said that
the company had no statement to make in
regard 10 the indictment found against il.
The annual report of the Consolidated
Stock Exchange for the fiscal year ended
May q was issued yesterday. c. II.
Badeau, president, SAYS in part:
The hope expressed in last years report
for return OF the public 10 active trading
has not materialized. Constant legislation
against the corporate interests has kept
investors and traders out of the market
Under the present adverse conditions, how
ever, We have maintained good average
business. which we viii undoubtedly en-
large as the movement initiated by the eX-
change against bucket shops progresses.
The federal government is taking an active
part in the movement FOR the suppression
Of this cancer. which for years has injured
legitimate Wall Street business"