Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-07-27
CURB MARKET WILL
EXPEL S|WINDLERS
Recent Wild Speculation in Oil
Stocks Causes Demand for
Reform.
HAS BEEN HOME OF FAKES
Members Now Propose to Secure
Home and Permit Only
Recognized Dealers.

NEW YORK. July 2s.-The recon,
Wild speculation in oil stocks Is per-
nhps most mm cdiatcly responsible
iGT she % adHp'om Of plans whose in
nMnigue features. The New York 'e G curb
MARKET whose members rain or
SHINE, slect or snow. have for 1oo
years transacted business on HrnnI
i ~ o, near Wall Street have decided
roof 'o''!e Win Il
Visitors to. New York will miss one
AMUSING an sights when the outside Curb
market becomes the outside inside
Wo lonp IL the M.,, term may be employed
weird cabal!stic signs. wirelessed from
cuIp 10 ogicc window BY brokers
whose living fingers tell waiting bust
&c; 10 longer Will the antics. which ,o
me unlnitiated resemble a circus rim,
i tnn,io man ANYTHING else. hold the at
he New York Curb market wb;,b
it"s 'Vp recognized members and trans
Of ,be business twice as great as that
H,,ouiisse. has grown tired of havip!s
n 1rs aiignlty assaiied and it's inteEritS
in" Of o'n count Geeause Gf the MORNING
uied through the sale OF utterly worth
public Oh w ana other tns paper" stocks.
tinEushns on "a the no s,rn means rs Of dis
mate Curb broker from the imiai LIE a. :.
For ,Icmhcrs ONLY.
curh "em next year. as planned the
chanen n nrGiers secure a home. or ex-
members o" NY, the regularly recognized
on the floor. The pubiic ,v 10 trade rad,
SHOW n winft ea,nta and long s;pblished
Ian 10 an extent in the chances its snno,,
i'i5se coterie can take
bettinr me FL, law put ban upon open
,, Ing IN this State one could Iov :,
wager on anything on the curb I.
t .aan could bet anything from sin ~
s'oo.ooo on games. elections o- w,,rs
.a LOT popular events always found
as active as were securities h;r
sporting event always attracted attcns
t!on' ana at one end Of tho curb one
eoula BUY tickets BY bidding therefor.
event could be laid
Docn Huge business.
Now the curb is busy buvinp and
aehlng stocks, and the daily turnover
is valued at millions of dollars For
noo nee, one day recently over 2,oOo,-
on the curb. having an estimated value
or sSo.o00.00o. and this does not in
Siude millions OF dollars worth Of
the wildcat issues.
The late James r. Keene was not
a'erse 10 fier on the curb. and many
neat lttle fortune he turned out in
some mining orr oil shares out there.
He always had a certain sentiment in
favor of this sort of security, for he
came from the West where he had
dabbled in mining and oil securities.
Fortunes on Shoestrins.
Fortunes have been made on a shoe
string outside. and the story is told
of one young broker borrowing $50
after a particularly disastrous month
and building thereon 100000 within
eight months.
Naturally n market like the curb.
free for all. having about the same
prior TO the coming of the
association as the average city mar
kct was the scene of some amazing
swindlcs. Fake brokers have traded
in fake stocks and have got away with
real securities and cash. Not many
years ago an active market was made
in a certain copper company. and the
promoters sold a great deal of stock.
Two days later the small Office which
bore the name of the company was
closed. Another broker. now domi-
ciled abroad for number of years is
said to have taken enough money from
the clients 10 reside on the Continent
in luxury for the rest Of his days