Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1911-02-14
#lisfellaneous 8eaains.
HOW "sHEEP" ARE sHEARED.
Methods of the Bucket Shop For
Separating the Easy Ones From
Their Money.

metnooS OF tHo ouSNSe ShoP y"
Separating the Easy Ones From
Their Money.
This game is all shot to pieces and
the bucketshops are the cause of 1t all, y
said an old time telegraph operator in
the corridor of the board of trade the
other day when asked why he could
not get a position in some brokers' Of
flee.
Every victim stung by these vi
pers is supposed to have speculated on
the board of trade and lost all his
money, while the truth Is the bucket
shop got the money, although 1t is
probably called the board of trade In
the gay burg in which the victim lives,
and the Chicago board Of trade often
gets the blame for the victims down.
fall
why, I 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 a ST. Louis or Kansas City con-
Germ. This western bucketshop was
giving a 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 I said, this Chicago buck
etshop 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 in the
damper (meaning the cash drawer).
Seven cents replied Reddy. Say,
Don,' said Bill, you're good on writ
ing dope. Why don't you pick out
stock at the opening and flash it out
to temple, as John Doe there Is pref
ty easy mark and a heavy trader? II
you can get him agoing we will get on
our feet again, and should it go against
US, we will lock the joint up. We've
got everything to win and nothing to
lose. Should it pan out all right you
go to all those towns we formerly had
and get some we'll known, respectable
citizen to open up for us, on commits
sion and salary
when the New York stock market
opened that morning whisky (distill-
ers) opened 70, II. 72. Don Gideon
quickly wrote out the following: Have
good information that whisky will
sell much higher; get busy before the
fireworks start Don was the opera
tor also, and started the opening
market with sugar, Burlington, St.
Paul, and then whisky at 70. He quot
ed a few other stocks and whisky II
r..
when 72 was sent out Temple sent
the following order: Buy 1000 whisky
70, margin one, protect nine, account
John Doe Don came right back with
Bot 1000 whisky 72, M l, P 9, acct.
John Doe Don then glanced at the
ticker and was Mortified to see whisky
73, IA, rs, 76. Don quoted 73, "A. Then
Temple started the following: Sell one
thou Don quickly threw open the
key and watched the ticker. Whisky
came IS and "A. Don and Cyclone Bill
were cursing all the time. About 10
minutes after whisky quoted on the
ticker 73, 72, II, 10, and a minute later
So, 6S, 67k and back to 20. 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
67s and is now 10. The wire has been
open west for the last Is minutes
Can do anything for you now? said
Don. Temple replied that John Doe
back soon with the bank wire for the
margins and protection of the trade.
About five minutes later Don got the
bank wire stating that 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 Hamm, Blank,
check for $3S,632.50, being the profit Of
your whisky stock, which we closed
out today at IS, this being within one
point Of the high market price for the
day. Opened 20, high 76, low 67a and
closed 703. Don't you think you ought
to take profits on your corn and oats?
We figure at tonight's close you have
10000 bushels of May corn and 0,000
bushel. Please wire us at our eX-
pense early Monday morning any in
structions you may have. Also say
whether we shall buy back few thou
sand shares of whisky should the
market work lower
The above addressed to William
Hamm, with check and statement, was
put in John Does envelope and mailed.
The statement and inclosurc had the
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 Oil
yer Bratton, former silent partner to
the extent of $50, were at Kingsley
feasting on John Does life saver-$1O.-
600.
Monday morning following, about
$40, Temple office sent the following:
You have evidently made a mistake
in your mailing department. receiv-
ed check and statement for William
Hamm, Blank, MINI. Shall l forward
same?" Don quickly answered, saying
it would be a great favor if Mr.. Doe
would forward the check, and that he
would wire Mr.. Hamm to forward his
statement, as it was probably an over
sight of some clerk in the mailing de-
partment. William Hamm was an
operator working for a railroad and
was always ready to help Don out ac-
cording to instructions, as Don had
often slipped him the price when he
was on the block in Chicago, and knew