The New York herald., 1922-03-02

dS HuuucTOuS anu DOlu dS ever.
Sporadic attacks in the meantime
have not served to rout them.
The bucket shops have been able to
operate and prosper despite the ex-
listing laws and such vigilance as was
exercised until within the last few
months. 1t is the vigilance--the dis
covery that the so-called brokers were
violating tie law-and not the law
that has bothered them of late.
Therefore there is hardly room to
doubt that when the present activity
has served its immediate purpose the
bucket shops will be found creeping
back into the financial district of this
and other cities and quietly opening
their doors again. The public will for
get, as it is prone to do, the warning
it has received that all is not gold
that glitters. and the slick tongued
salesman will be Turing the sucker
back to the fold of the bucket shop
with all the assurance OF the period
just passed
That has been the history of bucket
ing and stock swindles. There Is no
reason to believe that If conditions
under which they operate are not
changed in some way it will not be the
history Of their trade again.
Case after case growing out of the
anti-bucketing campaign has revealed
the bucketeer operating under an as
sumed name, and in nearly every in
stance 1t has been TO cover up a bad
record the same man has made before
in the same sort of game, either here
or elsewhere. The District Attorneys
office has the names of fifteen or more
men either operating or connected with
so-called brokerages in the financial
district who are doing business under
other than their own names.
Turn to Phoney stock.
And while the bucketeers recently
scattered are awaiting the quieting
down Of the hubbub and furoro so
that they can get back in the game
there is hardly a doubt that many Of
them and tkeir statesmen are turning
TO the phoney stock promotion game.
That is a little harder work usually
than getting money by the bucket
shop route. but II nevertheless is quite
lucrative.
The fact Is that a great number Of
the statesmen OF crooked brokerage
houses are graduated from the wild
cat stock promoters office. The stock
promoter. as has already been told,
usually conducts q school for training
statesmen in the sort OF work il takes
to convince the gulliblc that he is
going to get rich overnight. The stock
promotion game, whence the statesmen
came. therefore. Is the logical place
for them to seek shelter now.
1t Is patent then that unless some
steps are taken now, the bucket shop
will flourish again just as It has in
the past and the public will be robbed
as usual Some say that time viii be
several years away. but there are mer
in the financial district and wto know
the financial district who put that
date no further away than year
THE New York HERALD Is informed
that right in the middle OF the present
campaign new bucket shops have been
opened. One concern operating i
scheme recently exposed by THE NEW
York HERALD is reported 70 have
opened within the last two weeks It's
literature has come into tho office Of
this newspaper. The concern. setting
itself forth as a reliable and ready to
conduct legitimate brokerage busi-
ness. is said 10 have opened up for
trade on "bankrol" of 81 zoo. or not
more than enough to pay months
cNppnCng nj the nncf naodacf cort NJ
business.
Numerous suggestions have been
made concerning ways and means
whereby the present work against
bucket shops might be reduced TO
something OF permanent good.
District Attorney Banton advocates
blue sky law and q licensing system
The former would be TO prevent the
iiotation " fraudulent stock and the