Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1911-02-13
HOW "SHEEP" ARE SHARED.
Methods Of the Bucket Shop for Sep
arating the Easy Ones From Their
Money.

| This game is all shot to pieces and
| the buckctslops are the cause of it
ALL" said an old time telegraph oper
ator in the corridor of the Board Of
Trade the other day when asked why
he could not get a position in some
brokers' office.
Every victim stung by these Vipors
| is supposed to nave Spcculated on the
| Board OF Trade and lost all his money,
| while the truth is the bueketshop got
| the money. although it is probably
| called the Board of Trade in the jay
| burg in Which the victim lives. and the
| Chicago Board of Trade often gets the
| blanc for the victims downfall.
why, / know of a Chicago bucket
| shop that was put out of business by
John Hill. Jr. 1t had a wire to Temple.
Tex. and was on the verge of closing.
as all the intermediate offices on the
private wire had quit and joined issues
with st. Louis or Kansas City con-
Germ. This Western buckctshop was
giving 4 better break on the commits
sions and not nipping as hard as the
Chicago shop. They do this at the
start to bait the new correspondent.
We'll. as l said. this Chicago buck
ctshop had only Temple. Tex. on its
private wire. and the proprietors. Don
Gideon and Cyclone Bill. asked Reddy
Wood. the cashier and board marker.
how much money there was i'll the
damper (meaning the cash drawer1.
| Seven cents replied Reddy. Say.
Don said Bill. you're good on writ
ing dope Why don't you pick out a
stock at the opening and flash it out
to Temple. as John Doe there is
pretty easE mark and a heavy trader?
Ii YOU can get him agoing We will get
OF our feet again. and should it go
againSt us we will lock the joint VI.
We've got everything to win and moth
ing to lose. Should it pan out all right
you go to all those towns We formerly
had and get some we'll known, respec
table citizen to open up for US. on COM
mission ana salary
when the New York stock market
opened that morning whisky Obs
tillers, opened 20, II, -. Don Gideon
quickly wrote out the following: Have
good information that Whisky will sell
much higher; get busy before the fire.
works start. Don was the operator
also. aud started the opening market
with Sugar Burlington, ST Paul, and
then Whisky at 20. He quoted a few
| othe. stocks and Whisky Il. ~.
when - was sent out Temple sent
the following order: Buy 1000 Whisky
-. margin one. protect nine. account
John Doe Don came right back with
Bot 1000 Whisky ~, NJ |, .. acct.
John Doe Don then glanced at the
ticker and was Mortified to see Whisky
73. "a 10, 76 Don quoted 10. "a. Then
Temple started the following: Sell
one thou Don quickly threw open
| the key and watched the ticker. Whis-
| ky came 10 and "A. Don and Cyclone
| Fill were cursing all the time. About
| 10 minutes after Whisky quoted on the
! ticker IS, -, II. 10. and a minute later
| So. 6S. 67ia and back to 10. Don closed
| the KEY with a long sigh. Temple
| quickly asked Did you get that or
der?' What order?' said Don. Why
| sent an order to sell 1000 Whisky at
| "a. Whisky has been to 76 and back
| to ca. and is now 20. The wire has
been open West for the last Is min
utes' Can | do anything for you
now?' said Don. Temple replied that
john Doe was over at the bank and
would be back soon with the bank wire
for the margins and protection of the
| trade About five minutes later Don
got the bank wire stating thar John
Doe had deposited $4,000 to the credit
of Don and Cyclone.
After the close of the stock market
| that day Don sat down and wrote the
following: William Halnm, Blank,
Minn.-Dear Sir: We herewith inclose
check for s3S,6S2.50, being the profit
of your Whisky stock, which we closed
out TO-DAY at rs, this being within one
point of the high market price for the
day. Opened 20. high rs. low 673a and
closed 70E. Don't you think you ought
to take profits on your corn and oats?
We figure at tonight's close you have
| 1O5 900 bushels Of May corn and $4,000
May oats, with a profit of to cents
| a bushel. Please wire us at our ex-
pense early Monday morning any in
structions you may have. Also say
whether we shall buy back a few thou
sand shares of Whisky should the
| market work lower
"Thc above addressed to William
| Hamm, with check and statement, was
put in John Does envelope ana mailed.
| The statement and Enclosures had che
| appearance of going through the hands
! Of a dozen clerks with check marks
| and o. KS on them. That evening
Don Gideon, Cyclone Bill, Reddy
Wood. the cashier and board marker,
and oliver Bratton, former silent
| partner to the extent of $50. were at
| Kingsley feasting on John Does life
| saver-s16,OOO.
Monday morning following. about
| $40, Temple office sent the following:
You have evidently made a mistake
in your mailing department. re-
ceived check and statement for VIII
liam IIamm. Blank, Mimi. Shall
| forward same? Don quickly an
| swered. saying 1t would be a great
. favor if Mr.. Doe would forward the