The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-05-09
GOVERNMENT CLOSING IN ON
BUCKET SHOPS AFTER MEN
HIGHER UP.

| New York, May I-ISe lnNestlga-
tion into alleged bucket shop opera
tions Is beginning to bear fruit. AL
ready many operators have been ar
rested, but the federal authorities are
after the men higher up. The latest
raid resulted i'm the arrest of two men
and the alleged disclosure of the fact
that by an elaborate system of tele-
graph wires the quotations of the New
York stock exchange were stolen and
supplied to hundreds of bucket shops
over the country.
The most important feature OF all
I I'm the eyes OF the two men from the
department of justice was the barring
Of the secret hidden for almost 40
years of the so-called Marin wire"
This is the line through which all the
big bucket shop centers from New
England across the continent as far
as Omaha have been served for years
with fast wires that enabled them to
swindle their dupes by obtaining quo
tations from the New York exchange
from five minutes to fifteen minutes
ahead of the ordinary ticker on which
the dupes relied. G3y this advantage
in time the bucket shop keeper was
enabled to make every "speculator" a
sure thing so far as he was concerned.
This great cleanup which is de-
clared to have been the most deadly
blow ever aimed at the bucket shop
business in this country. was the sec
ond step in the crusade against bucket
shops upon which the department of
justice recently embarked. The next
step likely to be taken this week is ex-
pected to be even more sensational.
thanks to the evidence obtained in the
raids
1t is confidently believed il will lead
TO the arrest and conviction of the men
higher up" in this nation wide con-
spiracy to defraud the unsophisticated
and stamp out for all time this traffic.
The father of the bill under which
the government is conducting the in
vestigation is Representative Charles
+. Scott (Kansas.)
The Investigations are being con-
Quoted by Chief Stanley w. Finch of
the bureau of investigation" Chief
Finch has been connected with the
department. of justice for II years. 10
OF which were spent i'm the field as an
examiner detailed to collect evidence
in cases before the federal courts
scattered over the United States and
Alaska. Then for six years he was
chief examiner in charge of this work,
all of which time he was familiarizing
himself with men and affairs through
out our entire continental jurisdiction
AN Meal training for the chief Of
big detective force.
The bucket shop octopus made a fa-
tai step when 1t dared to grasp Wash
ington with one OF it's greedy tentacles. |
Just after enactment of n recent law
which makes bucket shopping i'm the |
District of Columbia an offense against |
the United States, for which violator |
can spend two years in the peniten-
tiarv. besides paying n fine OF $4,000. |
Had this one tentacle not reached |
within the sacred limits Of the nation
NJ capital the federal authorities would |
have had no Jurisdiction. But this one !
tentacle made the whole monster a
trespasser upon Uncle sam. and gave !
him the right TO strike not only at the |
arm which clutched at the federal city. !
but at all OF the other tentacles spread |
over the land.