The New York herald., 1922-02-21

cieS are able to draw still further pa
which they receive inquiries, but who
bureaus list. Thus is added to the
bucket shop evil one more money
sucking appendage, and the bucket
shop victim must pay for all of 1T.
Both Use Same Lists.
This feature of the victim catching
system of the bucket shop ring is
worked in this manner
The phoney investigating bureau
opens offices and starts business with
as many bucket shops on it's list as it
can get. The bureau then takes either
its own sucker lists or sucker lists of
its bucket shop subscribers to its
Service" and mails out letter some
what as follows:
Knowing that you are sometimes
interested in investing in stocks and
bonds in New York, we take the liberty
of Offering to you. our services as in
yestigators Of banking and brokerage
houses. 1t is of utmost Importance to
you that you know the character or
the house to which you intrust your
money. We are on the ground and
have large staff of experts trained in
finding out the things you wish to
know.
Should you desire a report on your
blank and return 1t with the customary
fee of So for our service"
This, of course, does not seem an
exorbitant amount to pay for any sort
of service. An investment of So ought
not to send any man into bankruptcy
or cause him to seek the District At
torney, but such an investment is only
the beginning. The fee is made small
only as a bait
Bucketccr Uses "FoiIow-up.''
What happens next is this: The
bucket shop client of the investigating
bureau mails out circular to the same
list to whom the bureau offered it's
services. That circular carries the
usual bucket shop offer to make man
rich overnight by use of it's marvellous
tips and inside information or Of
fers some particular sort of stock
highly recommended for its potential
money producing prospects.
Generally it is not until the second
Ictter-the one from the bucket shop.
arrives in. the hands of the prospect
that the investigating bureau begins
to hear from it's letters. But on receipt
of the glowing opportunities outlined
by the bucket shop the prospective
victim Immediately bethinks himself
of the investigating bureau. We'll
now" he ruminates. III this stock
proposition is as good as it looks and
the broker is all right it might not be
bad thing to take a chance on.
think I'll just send this investigation
outfit a couple of dollars and find out
who these people are and what their
stock is like"
He does. He sits right down and
sends his 81, explains that he is con-
sidering doing business with Skinnem
& F1eecem, and that he desires to
know first whether it is a reputable
concern.
The investigating bureau immcdi-
ately writes back that Skinnem a
Fleecem. so far as the bureau has been
able to learn. is first class concern.
Usually such bureau will explain.
however. that IL cannot pass on the
merits of any stock offered by Skin
nem & Fleecem, since the bureau does
not make business of investigating
stocks. The impression is left. how
ever. that so reputable a firm would
hardly be guilty of offering a worth
less security
Has Many ways TO Collect.
At the same time the investigating
bureau. which already has charged the
bucket shop 1925 for a subscription to
It's service. sends to the bucket shop a
record of the inquiry 1t has received
from the prospect. This is recorded so
the bureau can collect from the bucket
shop n commission II the latter lands
the victim. And when the deal goes
through the commission is collected.
Tn addition 10 being able to persuade
many bucket shops TO subscribe will
ingly To it's service the investigating
bureau has a cute little way OF its own
by which at times It persuades bucket
shops which appear moro reluctant
That is possible when an inquiry In
received concerning bucket shop
which is not subscriber. The bureau
goes to the buckctcer and puts the
question Of subscribing up to him.
usually making 1t more or less clear
that unless the subscription is forth
coming the report which will be mailed