New-York tribune., 1922-08-03
Too Hot Here.
BucketshoDs
Shift to Jersey
Banton Hears Offices Are
Opened Near Summit Av.
Tube Station for Benefit
of New York Commuters
Four More Are Indicted
Decision in Fuller Case.
Preventing Examination
of Books, To Be Appealed

Bucket shop operators who have
found New York place too dangerous
to do business in since the series OF
wall Street bankruptcies led to grand
jury Investigations and indictments
nave moved over to Jersey City, Dis
trict Attorney Banton was informed
yesterday Some of them have estab-
lished themselves, the information
said, about the Summit Avenue station
OF the Hudson tubes, where COM
muters can drop in conveniently on
the way to business and take a flyer
in stocks.
Mr.. Bantop, commenting on the de-
cision of the Federal Court in the
Fuller case, said he would take the case
up to the United States Supreme
Co1St If necessary, In order that the
highest tribunal may rule on the oues-
tion of whether bankrupt brokers may
prevent the District Attorney from ex-
amining their account books.
Four more men have been indicted
by the grand jury and bench warrants
are out for their arrest. Assistant
District Attorney Benz f. Schrei-
Der, who is handling the bucketshop
cases, said that the managers and of
flee help of certain bankrupt concerns
who were attempting to continue the
businesses would be indicted if thew did
not discontinue and come forward to
assist the District Attorney in making
cleanup.
Asked to Make II "Evao,,
Complaints are now being received
houses that they had been advised by
telephone to buy additional shares Of
any particular stock they owned to
make their holdings "even." People
holding three shares are asked to buy
seven more, to make it ten. The rea-
son given is that these even blocks
command a much higher price than
odds and ends. Some people have
found that this is not true and say
they have been swindled.
One remedy for this was to have
the telephone company discontinue the
service, Mr. Schroeder said.
The decision of Judge Augustus N.
Hand in the Fuller case was made on
briefs submitted by the District At
torney and the bankrupts' attorneys.
Both members of the Firm, Edward NJ .
Fuller and William Frank McGee, were
indicted following their bankruptcy,
which left liabilities of about
$5,000,0O0.
Judge Hands Ruling
Judge Hand ruled that the books
should be retained by the receiver
He said:
The bankrupts turned over their
books to the receiver upon q stipula-
tlon that they would reserve all their
constitutional rights in regard to the
use Of them in any criminal proceed
ings and on the agreement that they
would not be used before any grand
jury, or petit jury, state or Federal,
in any proceedings of a criminal ma
ture against. the firm or any indi-
vidual member thereof.
THE books got into the possession
of the receiver with all the bankrupts
rights reserved, and the receiver only
held them to aid his civil administra-.
tlon. When it is meant to use them
in criminal proceedings they are the
property of the alleged bankrupts
proceeding this court is bound to see
that the bankrupts run no risk of
losing the privilege which was guar
anteed upon their surrender of the
books and that their contents are not
disclosed to the authorities intrusted
with enforcing the criminal law. The
only way to be sure that this is done
is to see that they are retained"
Hays, st. John & Moore represented
the bankrupts, Edward M. Fuller and
William Frank McGee. The receiver
is former Judge Samuel Strasbourger,
Of "a Broadway