The New York herald., 1922-02-21
Continued from First Page.

back to the inquiring prospect will not
do the non-subscribing bucket shop a
great deal of good.
In this manner the bogus investisat-
ing bureau brings double pressure to
bear on the bucket shop. 1t holds out
the prospect of bringing in a new VIC
tim to be cleaned Of his cash and at
the same time the threat of giving an
unfavorable report on the bucket shop
if it does not subscribe to the service.
What would naturally be expected
under those circumstances usually
takes place, and the investigating bu-
reau gets another fee from bucket
shop, at the same time laying the
ground to collect commissions.
Bureau Seeks Complaints.
After a while, of course, when a
large number of persons have been
fleeced through the operations of the
bucket shops dealt with on recon-
mendation of the investing bureau, the
latter begins to get considerable col
lection of complaints. Victims alleged
tlat the recommended broker was
not nearly the honest, upright chap he
was represented to be. Does that
worry the investigating bureau? Not
in the slightest.
On the contrary. these complaints
are gleefully received. They are COM
plants which have to come, SO the
only thing to do is to keep explaining
and undertaking to pacify the COM
plainants until such time as COM
plants against a bucketeer have ac-
cumulated in number or in amounts of
the bureau finds it difficult to direct
more victims to that particular bucket
shop.
Then it is that the bucket shop be-
comes the victim. Suddenly the COM
plainants find the investigating bu-
reau to be in an extremely sympa-
thetic frame of mind. Then the COM
planning investor receives letters ex-
planning the painful regret OF the in
vestigating bureau in learning that it
has made an error in judgment, and
asks the complainant to write the full
details of the manner in which he was
trimmed.
In due course those details come in
1t looks like a good clean cut case, sc
the investigating bureau sits down
and writes to the cheated investor te
the following effect:
Your complaints against Skinnen
&c Fleecem, we regret to report, ap.
pear to be thoroughly justified. This
bureau cannot afford, for its own rep.
utation, aside from its regard for the
welfare of it's clients, to allow it's eli
ents to lose money through our rec.
concentrations. We therefore suggest
that you put your complaint in affi.
davit form and forward same to us
Upon receipt of same we will under
take to recover as much as possible
of the money which you have lost"
Amdavits shown to Bucketeer.
The affidavit arrives in due time
and the investigating bureau is as
good as it's word, not necessarily from
any suddenly acquired sense of virtue
but because therein lies another op-
portunity to blk somebody out OF
some money.
Armed with the affidavit, the inves-
tigating bureau visits the bucketeer.
The affidavit makes out clear charge
of fraud or larceny, and the bucketeer
knows that the investigating bureau
L. 4I>a& .l. Il.
the affidavit is sufficient to represent
a formal complaint against the bucket
shop If presented to the District At
torney. Therefore the investigating
bureau now gives the bucketeer his
choice between making restitution to
his victim or having the complaint re-
ferred to the District Attorney
BY that means, not infrequently, the
investigating bureau is able to compel
sufficient restitution to satisfy the
bucket. shops victim and rehabilitate
the faith of that victim in the investi-
| eating bureau. The operator of the
bureau gets his either through a fee
from the victimized investor for the
expense" of collecting the money or
manages to get a rakeoff from the
amount he compels the bucketeer TO
restore.
One would think that by the time
the bureau had carried it's trickery
| this far it would be willing to cal
it days work and let its victim go
Not at all. No bucket shop or any
swindler connected with that breed Of
crooks ever thinks of turning loose as
l long as he is in touch with any person
who has any money whatsoever which