Evening star. [volume] (Washington, D.C.) 1854-1972, 1923-07-13
WALL STREET GREETS
PURGING AFTER LOSSES
OF $50, 900, 900
Continued from First Page

they are worth every penny of it to
the ambitious young crooks who are
about to establish themselves in
business as brokers"
Like all other criminal activities
there are master minds" in the buck
citing game here in New York-men
who have grown rich and powerful in
community. The state prosecuting
authorities are having difficulty in
pinning the suspected guilt on these
men. but their activities have been SO
Widespread and often so bold it is
generally believed that out of the
fermentation now going on the higher
ups are certain to be involved. Thus
far 1t would seem that only the
clerks and underlings who have per-
mitted the use of their names have
been caught in the tolls. But they
were merely the window dressing
The evil geniuses back of them are
still at large and still operating in an
illegal way in the downtown sections
of the city.
Naturally it is difficult for the
prosecuting authorities to have any
great sympathy with the victims of
the bucket shop. They cannot under
stand why men and women will trust
their money, often the savings OF a
lifetime, with some alleged brokerage
concern without inQuiring or inyesti-
eating into the firms standing. Too
often feeting suspicion has been
luiled to sleep by visit with a view
Of mahogany and ticker. Too fire.
quently there has been nothing back
Of ticker or furniture except the slo-
gan of the gamblers that mine times
out OF ten the customer is wrong"
One-Sided business.
SO they trade against the customer
If the customer is wrong they pocket
his money. If the customer happens
to be right in too many cases. the
firm fails. IN other words the bucket
toner can't win.
The story of the bucket shop in New
York is as fascinating as fiction 1t
tenders, eX-barroom habitues and ex-
brokerage clerks who have learned
smattering of the game and have
gone into business for themselves.
When they fail under one name they
are quickly in business again under
another. The trail of some of the
bucketeers leads through seven or
eight defunct concerns. This Is par
ticularly true of DANDY Phil Kastel.
a fugitive from justice and recently
reported dead in Cleveland. His death
never has been verified to the salts
faction of the authorities. Dandy
Pills" last venture was as hacker
of the firm of Dillon & Co., at 80
Broadway. Dan" Dillon. the osten-
sibe head of the firm, was a news
paper man. formerly of Washington.
Short, Glorious Career.
Dan accompanied the first Amer
lean transport to France as a war
correspondent and was in the field
for nearly year. He was well
known to Gen. Pershing and to
other high officers of A. Z. F. He
was hail, fellow. we'll met and just
the type to be desired by the buck
eteer. Now Dillon also is missing
His firm had a short but GLORIOUS"
career. There were about 400 cred
itors when it failed. The receiver
got the large fee of s6S.01 out of the
assets: The disbursements were
S155.2S.
Connected with every bucket shop
is some great romance and into these
romances the moneys of the victims
have gone Chorus girls have been
lifted from stage doors and given
establishments in this city and in
Paris. Easy come, easy go has been
the motto OF the bucketeers, and the
golden flood has continued to run
at full tide.
While the indictments and falling
of some of the bucketeers are sweet
music to the losers ears. the public
is convinced there is something
wrong with business laws or bust
ness rules which permit these gam
bling shops to open and operate in
! the full light of day.