The sun. [volume] (New York [N.Y.]) 1833-1916, 1910-04-03
Uncle Sam Taps Western
Union Wires and Closes
Bogus Exchange.
NABs HEADS Of $50 SHOPS
Fast Wire From q Stock Ex.
change Mouse" Figures at
Boggs G Co.'S

4 @Nsa"A "RaS ap4IAAGN &NINEI
Guys STANDARD stock and Gram
Reels-=." ssSTsSsisF-FiAcw % Ciessm
Hint That New Ysrs LsGssAasp
d Inseresses n ths SSGgs eEsss.
with leo Mayer the Boskmaksv
ana PRECURSOR. uho kuIed Nytes NE.
Do0neII-BaItImsre Loses W. n PrUee
ace. 60 the PoIIee-SO Men Inalseea
Tor Conspiracy 90 violate Federal
IAw-TrIah 20 NE IN WashIngtsa.
The Department ~ Justice. which has
been investigating complaints against q
chain OF bucket shops and tapping this
telegraph wires OF the said bucket shops
Co get the evidence. sent the agents nf its
Bureau " Investigation. the new sscrse
service. 1nt raidiLs yesterday morning
IN a campaign which 10 intended 70 wipe
the business ont. The raiders we're
armed with indictments for thirty men.
all members or correspondents II three
fr-'s thae the Government believes
are run by the heads 1t the business.
The RAIDS were planned to take place
simultaneously IN New ork PhilaselphiA.
jersey city. baltimore. Cincinnati ant
81. Louis. hut some q the bucket shop
men got wind OF what was coming. possibly
by means Of antic' pa;ory publication OF it.
and in one instance at least had novel
out before the officers arrived.
In this cit- the raid was on L. 9. Bogss
4 Co. y Broadway. in baltimore oa
W. r. Pric" a Co and IN Jersey City
on the STANDARD Stock and Grain DeAIsra
THE Consolidated Stock Exchange OF
Philadelphia. run a. kind 81 clearing
house by which the bucket shops could
eyace the State laws. was also closed IN
The-@ concerns mIIntlinsd $50 bIckes
shops all over the country and did Al
enormous business
UNc! Z SAM TAPS WESTERN rVIoS wIRAs
In order Ia get evidence Of the orders
to huy and .sll received ny the three big
bucket shops. ~ compared with tbs
orders sSctu1lly transmitted TO the bogus
exchange IN Philadelphia. the Govern
telegraph operators and tapped tbs
wires Leading 70 the bucket shops from
their branch Offices and TO the Phila-
delphi1 exchange. and for days listened
to and made complete record Of every
thing which PASSED ov"r the wires. Tbs
Western Union Telegraph Company.
from which the three concerns leass
wires lt an annual rental for each firm
-. HFaaaa 49,
the liberties taken with its service.
The Government wire tappers learned.
according to one Of the agents. that willis
BoggS A Co did business ~ from N mn
To 50OOO shares a day mostly in ten anara
lots not more than IUo and usually less
than twenty orders were sent daily 20 this
-eXchange.- and that ratio Of executions
to orders rec-ivcd held about the same
for the other firms BIt the represeata-
tivcs of the three conce ms on the bogus
exchange could exchange slips purporting
To show transactions to any amount.
The Investigators found that in the
main Office % each 81 the three com.
panies eight To twenty telegraph opsra-
tors were working continuously rsceiv-
ing business from the branch ofices
No orders were taken directly at the thres
main Offices only by wire
sUsPICIoUs PAST PRIVATE WIRE
While all stocx quotations were received
IN the many branch Offices by the ticker
and then placed ON the blackboard. sacI
main Office had what was called fast
private wire from large New York SsocS
ExchAng. house. whatever u really was
This wire says the agent 81 the Depart
menf of Justice. t.al the ticker by aDoR
fifteen minutes and ia story was privately
flashed TO the manager of each brancl
50 that h" knew long before his customers
did which way stocks were breaking
Then II a big order came IN that was
going to hit the buckot shop men hard t
was found that u couldn't he executed
In cases whore delivery 81 stock WA de-
nanded the stock was secured, according
to the Government officers. through ths
same house that gave service FOR the -fass
wire A. the Government soon hEIrsi
e cut the chances were about 30 TO
against a man who started TO bucx the
game getting out without losing his
whole stake
" Bogss a Co.'S OfIcss n
this city the rAidinK was dors
by Detectives Mct onviiIs ant Nels,I
for the reason THAT Agent Victor .
Scarboro Of the Bureau o; IBvsstiRAti IN
was empswPr~d to make arrests only.
while IL wss held that the local pollen
couId seize any books end papers that
q o,Ild 30 useful a. evidence. The raiders
didn't find the books and pagers. and 10
Was said that everything OF the kind hat
been sent to Philadelphia where the
Sock Exchange. tho buokee
~hop clearing hOu-e. has IL headnuartsrs.
members Of BoGgs q Co we're found
watching shs ticker ard werp taken %
The FEDERAL Building under arrest. Thsy
rarn Oliver D. Rohinnnn- Lnn Mnrnr NJ