Evening star., 1916-05-14
GOSSIP ABOUT MONEY.
BY JOHN M. osKIsoN.

u W..
NEW YORK. May 1s.-There are
only two bucketshops now in operation
in this country. One is in Pennsylvania
and the other in West Virginia. Off
Gals of the New York Stock Exchange,
who are authority for my statement,
say that the one in West Virginia is
operated according to law, The stock
exchange men say that West Virginia
permits the operation of such
gambling shop on the payment of a fee
of $1,000 year.
Wall street used to be overrun with
bucketshops Their customers were
largely the employees of the respectable
brokerage houses and the bank clerks
who couldn't resist their gambling in
stinctS. Then came such a ventilation
of their methods that in self defense
Wall street had to run the bucketers
out.
Recently they found a refuge in
Pittsburgh They organized the Pitts
burgh Consolidated Stock and Produce
Exchange and from that central point
they sent their agents all over Penn
sylvania and Ohio to organize branch
Offices Then the New York exchange
members and the members of the Chi
ca go Board of Trade collaborated with
the Pennsylvania state authorities and
the federal post office inspectors to
gather evidence against them.
Recently the grand raid was pulled
off. and score or more of indictments
are pending against the bucketers.
Arrest does something toward wip-
ing them off the financial map: but
Wall street and La Sale street are
! hopeful of seeing some of these birds
landed in Jail. AS yet in the long his
tori of the bucketshop and it's pur-
suit by organized society, though there
have been convictions aplenty. there
has never. been case of a bucketer
landing in Jail.
That the financial district is in earnest
in its fight against the parasites seems
to he clear In the old days such a step
as the Indictment, on the complaint of
a broker handling mining shares, of
the editor and business manager of the
New York Curb. charged with attempt
ed eXtortion and criminal libel would
not have been possible.
1t a perfectly ordinary case. A
Nevada man came to New York to sell
stock in mine. He wanted the editor
to boost it; the editor said his price
was $1,000: the Nevada man wouldn't
pay it, and the editor attacke ed the min
ing proposition and the brokers who
We're handling the stock. The new fea-
ture was provided by the brokers s
! prompt action in having the papers
! editor and business manager indicted.
! They say they are going to admit
silver once more to the list of more
or less valuable items traded in on the
New York Stock Exchange. Not since
1909 has there been a regular market
for the metal.
For a long time silver has been a
pauper. Even for tableware it has had
to give way often to gold-when the
lent buyer rightly understood each
other. The silver service which used
to be presented to retiring bank presi-
dents and battleships is apt to be re-
placed these days by certain articles
of yellow metal.
But silver is coming back. Not long
ago 1t sold for ~ cents an ounce; in a.
recent upward swing the price went to
7Tiz cents an ounce. The changes have
been rapid and great, hence the in
clination to welcome silver again on
the exchange.
In the case of silver. ii cannot be
said that the war in Europe explains
the rise in price. In fact, the demand
from the warning countries is below
normal, since the manufacturers of
| plate and jewelry in England and
| France are observing a kind of Lenten
| fast during the time of economic strain.
/ India and the orient generally, how
ever. have largely increased a. normal
| ~ large demand for the metal. Thirty
| six million ounces in the first three
months of 1916 went from England to
| the orient and India.
| MeanwhiIe the Rreates, sfIvar-nro-
/ ducinp. country of the world Merico
/ has reduced her outnu, from some
! eighty million ounces a wear In Iess
| than fifteen million ounces OId s,ocks
! of the metal which had heen So area1
| as TO keen down rhe nrice arc ehoTt
gone
/
| A Wall stree. writer has e-i,., nc
the figures IN show boyv nuch oIr
| snarci,I ,er,n.rature 49, ,arfad 49,,
I - M. ,ear s.nca ,be eI,l,ina ae ~ j.
| ! 1sit.nis bac.usa ~ ,bat .vsn,
| Tasinp the average nrice nf e,,,
| s.ocIs sc.i.aIv -ra6eI =, ~, ,ha .,noi,
! excEaro W. end tber, q, "a oe ~
| ALL an 1aI5 vi
| ~ r,,si,af, mo. s,,,, 80
NJ - -, w.. 80 Mo''s ~, .ta:.
80 ,-f Lii. e,1,,' I'
| s,.I.r., - ' " an
| ,rt,as ~ nrisie r.s.as Dr. o,.o,,o 90
~ -. - - - 20, e,, ."oI
IL ~. a, d s VI ui ny "toeh' Hao
| N'ttiDeu I'm q. az " ~ '1.i'' c
| ~ -npt - - VI ms edl tne SUSSEX
~SitaiH ~ ope ~ oi uo"i tiie aver aver
| ase ~ co. On -nay tliey were