Evening Star Newspaper, July 19, 1923, Page 3

Page views left: 0

You have reached the hourly page view limit. Unlock higher limit to our entire archive!

Subscribers enjoy higher page view limit, downloads, and exclusive features.

Text content (automatically generated)

MAY RISE §2 TON Consumers Here Anxiously Concerned With Course of Wage Parley. In Scranton, Pa, today, a small Zroup of men, representing the mine unions in the anthracite coal fields of Pennsylvania, are meeting to work out questions at controversy Which will affect in a major degree the price of coal to the consumer in Washington and elsewhere next win- ter. Out of their deliberations and the result of negotiations to begin again at Atlantic City July 23 may come a price increase in anthracite ©f $2 or more a ton to the Washing- ing 1 Washington winter at an average this increase ring coal up to price may rise there IS a st case last w , when the 60 per cent 1ationing system was &verage reail price fa Washington in 1913 was $7 £ross ton. The $15.39 price of la winter reflects- an increase of much miore than 100 per cent, and the sigr Doint to a greater incre next winter. - yers Mard 1it. last winter there hardship on account of inability poor pecple to obtain coal at price asked. and testimony bef the United States Coual Commission showed the persons, unable to buy coal in _quantity at the high vrices asked, became the prey of small retailers who. it was testified, sold in 100-pound lots and less at & profit disproportionate to that charged for larger lots. Testimony of witnesses before the commission show that this coal, if sold on a ton basis at the rate charged for 100 | pounds or less, would bring upward | of $25 a ton. The miners ranton and later at Atlantic City have it in their hands to keep the price of coal at a level which will not add to the censure to them nth nix was some of the | meeting r than that of ad- | ike in the anthrs wever, is niners' der workers 1 in i 1 i re men on_the d bluf 3 1 ! ditions MARKET WIRE COMPLETE. | Agriculture Cluenit Goss From B | ton to San Francisco. it a 7,000 circult o {of them, ter nd connec ashington and and market centers the nt installe > in response to a mat mand for an exten very 1 the lease n-wide de- f its mar reports of dairy ve | products, ' OF aud 2l THE { the S Y GIVEN heretofore existing conducting ent’ Co.. at No n dissolved by mutual % will be continued by THAT betwewn are given topher F. by him. (Signed.) All liabilities are assumed CHRISTOPD AWILL NOT 1iE debts” unless co CALLAGH FLE TOI myself. 0 CASH TO SALES) auick” turn of $9.000 bargain home etrictly confidential. Address Bo | ANY | stered ; viwhere. Ad- aress-Box 104 S iy e S BEAUTIFUL FLOORS | 01d_foors made mew. C. 1L ADAMS, Main 1 Barrister bld, 835 F st i You'll éé"i&fi“"fi'i;é e —for autumn’s first cold snap | if we overhaul your Steam or Hot-water Plant NOW. The Biggs Engineering Co. WARREN W. BIGGS. President. 1310 14th St N.W. Tel._Frank. 317. Wanted—Passengers to motor to Minnesota. Call Adums 1402. . “SNIDER’S” POT ROAST Can_be bought at Snider 119.20.21 Center Market. L Cnit Going Away? Better have us put the roof in shape for Tha wtorms that are sure 10 come. take chances with the roof. us. Feel safe’ coMP FEAUTIFUL RAD . Tween Fort Myer mnproach of proposed _Arlington bridge; overlook whole eity: large lo scoably priced and easy terms. LOUIS OTTENBERG, Trustes, 801_Colorado_bldg. M. 1 PRINTING —that @aIAlls your highest expectations [The National Capital Press 12101213 D ot. n.w. The Adams’ Impress #-stands for satisfaction—plus in printing. *High grade. but not high priced.™ BYRON S. ADAMS, FRINTER. Here’s a Roofer Ready to make things snug and tight at moderate cost. Tell us your troubled amd we'll be on_the job. Right at your elbow. Cull Main 14. IRONCL 240 Roofing 1416 F . Company. Plone Main 14, | that fw { which th From System First of Financial THE EVENING STAR, WASHINGTON, D. C., THURSDAY, JULY 19 ANTHRA[}"E PR"}E Present Bucket Shops Grew of 15 Years Ago Underworld’s Raids on Small Investor Were Wiped Out by United States Authorities. 1 BY R. K. TREVOR. In seeking to learn what results may be expected, on the present con- certed drive by the authorities and the newspaper: gainst bucketeers and crooked promoters, it is well to study the results of the similar drive conducted at the time of the public out- burst against the financial underworld between twelve and fifteen years ago. Now, as then, the outstanding demand is the small investor. The greatest traged, periods in which fina al swindlers ply ith trade on a huge scale is the extent { to which their depredations are m: the ranks of the small investor. Alwi is the purchaser of sceurities n ed means who is the prey of the finan- cial vuiture. His limited knowledge of market conditions and of securities, val ues and other conditions makes.him a natural object of attack. Driven Out By U, S, Fifteen years ago it was the fraudu- lent promoter who was mest active in the raids into the ranks of the in- vestor of limited means. CThe type of fraudulent promotions wiich flour- wax ditven out of federal authorities nd wes kept out the Dupers hops which put out ot authoriti Exchange incident to the w by he type of thrived in the business and the N authorities For a short wi all was Then a new type of bucket st gan to reach menacing prope the vanguard of th shops that has few vea The new bucket shops were started by men who had had thefr training 1 the older houses, but they invaded a field which had not been touched by the older institutions—the field buyers of curh market sccurities, the low-pr ttractive to quiet. » L the rned moncy tens o of these little people ing the war markets, aral years absolutely checked the authorities. 1t was following the gathering in of millions upon millior 1 the exploitation of the tors in curb cks that style bucket shops eventu ., within the past f the exploitati are listed o axchange esp) we which Stock line of exploita- proved too much for ti because of mounti mark the whols es In the spri some straggeling und w hes of t 422, followed by fatlures this veur for a_proper iden of ent of the groun of hav ed in it ary ve look into th urrounding the activitie: the downtall of the bucket shops flourished fiftecn vea he develop- shop two bLuck the reader ¢ ba ne that we s, h hucket shops of fift + a direct m tions of the chan; Not ) etended on their operat msophistic: tonds and unnaturally. 1 vere laid by door of the New ce, and gradually i th York Stock there develop 5 the stoc! \ no smal aken ideas created tions. In @ the more direc ew York h business which might ot s gone to it was diverted into the huc et shop char Although some peo- were with t they were. £0 mu for purchase « tually be cuted as whether big enough” to pi of the customers of i erage houses were under the res sion (hat they were dealing with bona fide institutions. Ralds Often Hurt. nother way. the N securities were most In yet @ that better safeguards be provided for | nt!| they | Stock Exchange was operations of the bucket shops. “That | was in the raids which were conduct- ed every now and then on stock ex- change securities by the owners of the bucket shops. These raids often interfered seriously with the opera- tions of pools and other interests that in stocks on the New York Stock Ex- change. . The bucket shop owners were not giving consideration to the interests of the pools, however. The were necessary that they might re- lieve themselves of their own worries. These worries cume when stocks on which they had been bucketing orders reached such high flgures as to give their customers large puper profits. In order to prevent the customers from cashing in those profits, It was necessary for the the prices of the stocks down. The lonly way to get those prices down was to raid the stocks. And rald them the bucketeers did. Also, the raids could be utilized, naturally, for the wiping out of mar- gin accounts of their customers by the bucketee The raiding tactics became more frequent and continual- 1y more ing. Finally, the New York Stock Exchange authorities be- gan very quietly comprehensive campaign to drive these bucket shops out of business. P the as gettin While change W chinery into action. shop system of fc tinued to grow. Som: had branch offices in ten citi Carrying out the pr buying stocks on margin, t brokers generally made their margin nents much lower than the whi demanded s of the N Stock I usading 1 huge bucket days York its o or ense of > bogus a0 with the rgins as a of the bucket shops ob- tained 1 ip in stoc exchanges outside of New York. Th position of those stock exchange with regard to the activiti of the < in Guestion w n sev- respects to th the nsolidited Ste New y in th fo the shh, position Aof tions of somw hich have oper. Death Blow in 1910, low to the old b came 910. It iversd by the federal auth there were ve in indical governm, ) ac information w ource {with the Yo | This death w »f Uie bureau of nt of Justic raids on t ere system tucte - bucket 1 by €1 injurcd by the! might be conducting bull campaigns | ralds | bucketeers to get | con- | of these houses | more | ith | I-ome time. Their raids were made simultaneously in cities throughout {the country and caught the ringlead- ers of the bucket shop crowd wholly unprepared. The play was so spectacular as to mean a tremendously big story from a newspaper point of view. Scarbor- ough, who had begn a ‘“general work” reporter on~ newspapers in Philadelphia and New York before taking charge of the fleld of opera- tiong of the investigation forces of the Department of Justice, had been playing toward that very end. and at the psychological time he gave out a | wealth of detail with regard to the i methods which the bucket shops had | pursuea. Made Big Story. Here was an expose thit went over all newspaper wires and in the big- gest sort of a way. It was more than the bucket shop system could possibly {survive. One style of bucket shop was {of a sudden put out of business and was to stay out of business for a very long time. 1 Over the past flve years or so some straggling members of old-line | bucket shop aggregations attempted to start up offices like the old houses in varicus parts of the country, especial- | ¢ in_central and western sections of | New York state and through the mid- ale west, { “They never became mueh of a men- | ace, however. The New York Stock Exchange, almost by itself, was now {able to stamp them out on by ome. ! | i T'wo-story H ] cach floor. You can buy the floor for enough to greatly aid making a good speculation as this chanc es with fou i Hot-Water Heat—Large | borough's | “ily for WHEN YOU THINK | rhanging snd Decorat- £ Estimates made on raquest HARRY W. TAYLOR CO. PAPERHANGING AND PAINT] i Isth St N.W Tel. Col the | The essentials which buyers always seek in a motor car operation and y upkeep: LONG LIFE CONSPICUO LY PERFORMANCE. They are the things Hupmobile own- ers enjoy. Hupmobile owners pay less for gasoline and oil and tires. They pay less for re- pairs. ‘They enjoy more con- tinuous and more cons ent service from their cars. STERRETT & FLEMING, Inc Champlain 81, and Kalorama Columbia 5050 Tranch Salesroom, Coun It Takes Specialists to Repair Roofs I'very man to his trade—and roofing is a trade all of its own. it in all its many phases; contingency that can aris We've served a lifetime in it—studied encountered every possible —so that when we apply the remedy it cures the trouble. There’s no experimenti and how to do. ng—we know what to do- \ difficult task, therefore, becomes a very simple one with us—and you are saved annoyance and needless expense by sending for us. 2120-22 Georgia Avenu A Good Ex e Phone North 2044 Investment The big life country make First Trust Real Estate Notes. they are so insurance companies of | the large_investments of their funds in First, because far removed from speculative in- fluence; and second because they return such a generous_interest. For the same reasons these First Trusts should appeal to ind afe. We are making them a: ividual investors. They are 100% lable to those with moderate amounts to invest—$100, $250, $500, $1,000 and so The present on—paying 7% on your investment. issue is covered by one of the most valuable pieces of down-town real estate in the Either our Mr. Bos s, Mr. Phelps or Mr. Webster will be glad to give you details. ‘Boss & . Phelps The Home of Homes Phone Main 4340 wel There are only four of them and they will sell quickly The expulsion of one member of the New York Stock Exchange during the course of the war market of 1915-1916 was looked upon as representing one of the last stands of the crippled old- line bucket shops. This member, it was asserted, had been doing business for a chain of middie west=rn bucket shops, obtaining stocks for them when' they were called upon to make delivery to customers and conducting raids for them on the New York Stock Exchange when such operations were desired. After his expulsion that par- ticular chaln of bucket shops did not last long. The story of how bucket shop men then turned their attention to curb securities and gathered in millions upon millions of doilars from in- vestors of limited means, establishing the greatest bucket shop system In all Eistory, will be told in the next a cle of this series. There will aiso be pointed out the vital danger spot that must be constantly guarded by (he authorities for them to succeed In their efforts ta prevent, following the Beautiful Bride Portraits SPECIAL SUMY Four New Duplex Homes Something New—Inspect Today | Two-Story Flats—Built Like One House 1600 to 1606 A St. N.E. Just North New Eastern High School roo h and back porch on building ‘and rent out the second the house, Don’t _miss vou in purchasing 11 as an investment. Lots Electric Lights—Window Shades Plenty Room for Garages, Gardens and Flowers — NESCO Jr' RADIO CRYSTAL Receivin Set A Splendid Receiver on the New “C. & P.” Sending Station Ihe new Chesapeake & Potomac station is one of the best in the country today, and Yocal radio users should capitalize to the fuilest extent. The Nesco CRYSTAL Receiving Set will give as good service from this on the market, yet it LLOW PRICE OF 815! equipment. The best known material are used throughout. No batteries are required. There is nothing to get out of order. The panel and the tube on which the tuning coils arc wound arc of bake- lite. The tuning coil is mounted on_ back of panel The circuit is direct coupled e sistent rentals. T TR LT LT L National Electrical Supp 1328=-30 NEW YDR_!’Q‘_QXF:_NUE MAIN 680 Y Wardman Construction Company 1430 K Street N.W. tation as any high-price set sells Pric 2,000-ohm telephone receivers, and necess for the REMARKABLY e includes set of high-grade ary antenna with taps connected to two ten point switches on face of panel. The crystal detector has micrometer adjustment and is so designed that when sensitive’ point is found variable pressure adjust- ment may be made without changing location of point "Co. =Accessories OO LT UL T O T LU LT UL T Comfortable Apartments “Klingle Mansions”’ At Connecticut Avenue and Klingle Road Overlooking Rock Creek Valley offer unusual inducements to seckers of apart- ments where year-round comfort is demanded. All outside rooms overlooking spacious lawns and wooded parks—exceptionally large rooms and generous closets—efficient service. Con- Real Estate Department i | room, 50 per cent moze. Rooms Like Mothe: | FLAT TIRE? present hue and cry against th bucKet shops, another reconstruction of hucketing on a nation-wide s (Copyright, 1 BOOK PUBLISHER INDICTED. NEW YORK, July 19.—Thomas : 9.- nas Seltzer, a publisher, was indfcted yes- torday on charge ‘of publishing ob- scene and indecent books, The hooks in question were “Cassanova’s Home- coming” and “A Young Girl's Dia. both by Arthur Schnitzle “If ool are not permitted to relate historical | accounts of other than the righteous, Ve might as well delete most of our histories, not to mention Scripture safd Mr. Seltzer. o b % HOTEL INN 604-610 9th St. N.W. Formerly Stne Hotel Phone Main 8108-8109 T rooms. $6 weekly: $10.50 rooms, $8; $14 htollet. shower und_lavatory, $10: 2 in MAIN 500 LEETH BROTHERS Service Charze Never Over $1.00. i Massachusetts Park Washingto most beautiful residential section of detach- ed homes. Containing seven million feet of forest-covered land, with six miles of improved streets. Includes what remains of “ThLe Triangle of Increasing Values” between Connecticut, Massachusetts and Cathedral avenues (Woedley Rd.} Over four million feet of land sold. Over ninety homes from $15,000 to $200,000 huilt and under con- struction. Wooded villa sites, lots and central and side hall brick homes, with lots from 59 to 115 feet front—Park Office, 32d and Cathedral Ave. (Woodley Rd.). Middaugh & Shannon, Inc. Woodward Building, 15th and H Sts. Established 1599 DUNIGAN’S New Petworth Homes are 300 feet above sea level, and overlook the entire city, insuring « Cool Summer Home Our Maodern Heating Plant in our weli constructed House insures a Warm Winter Home — Unless you are established in a secure and perma- nent Home you should at once make inspection Modern in Every Way Large Porches Sample Houses 4317 and 4319 4th St. N.W. (Near Varnum) Take “Grant Circle Bus” or 9th St. Car Marked “Soldiers’ Home” D. J. Dunigan 1321 New York Ave. NW. Phone Main 1267 TbeXotng s Shey 1319-1321 F Street STORE NEWS Close Saturdays 2 P.M. “Fashion Park” and “Stratford” Clothes Save 50% on Summer Wool Suits All $40 Suits, 520 All $50 Suits, 525 All %60 Suits, *30 Nothing is withheld in this clearance of 2,000 suits, and it includes those famous brands—*“Strat- ford” and “Fashion Park” clothes. All are 3-piece suits, the coats French faced, without lin- ings for delightful coolness in summer—the vest making them suitable for wear all throug 'h the fall. Think ahead! We know that wholesale prices will be 25% higher this fall. Get a suit for fall while it will cost only money! HALF. Be wise and save some We Must Add the Acl;al Cost for Making Any Necessary Alterations Genuine Palm Beach Suits, $12.75 Silk Mohair Suits, $16.75 Aerpores and Gabardines, $21.75 $35 Pure Silk Suits, $27.75 White Cricket Cloth Trousers, $7.75 Linen Golf “Knickers,” $3.75 [¢ lfl.g’ll and Dark Shades)

Other pages from this issue: