Evening Star Newspaper, July 27, 1923, Page 3

Cooling the House In India it is done by throwing water against the matting of reed and bamboo. In many Washington houses it is done by putting a block of crystal- clear American Ice on a fern- covered table and letting the electric fan play over it. In many homes, particularly where there is sickness, sheets wrung from ice water are hung about and reduce the temperature of a room quickly. American has four plants in Wash- ngton and can’ take carc of its cus- tomers however great the demand. AMERICAN ICE COMPANY STERLING s a mark you look for in ilverware. It means qual- ity of a certain definite de- gree. “Certified Gold Seal” is the Sterling Mark to look for in used cars. We are the only concern in Washington selling “Certified Gold Seal sed Cars” See them today and you will buy one. Sterrett & Fleming, Inc. Champlain St. at Kalorama Rd. Columbia 5050 Branch Sales Room, 1223 Conn. Ave. Used Car Show Room Open Aug. 5 at 1931 14th St. NW. Branch WHEN YOU THINK —of Painting, Iaperhanging and Decorat. ing think of Taglor #4rEstimates made on request HARRY W. TAYLOR CO. PAPERHANGING AND PAINTING 3 18th St. N, Tel. Col. 1077 Fleor Varnish $3 a Gal. 85c a Qt. From the user’s standpoint, no other varnish justifies a higher price. J. W. Hunt & Company 1221 N. Y. Ave. Phone Main 1352, Bucket Fro THE Shops Recruit Workers epths of Underworld First Wor '-G'ame bu Gay White Way IX. BY R. K. TREVOR. (Copyright, 1923, by New York Commercial) By the spring of 1921 the bucket shops operating out from New York jhad become so numerous that they | were beginning to get in each other’s way. Beforo the year was over, com- petition between them for new busi- | ness was growing keen, and they be- {gan a profligate line of expenditures {in the offort to increase their list of “suckers.” The reader was told in the preced- ing article of this series how boot- leggers, race track gamblers and con- fidence men flocked from the gay white way to the bucketing business and financed new houses that were operated by ex-employes of older 1 bucket shops. These ex-employes might have been trained as customers’ {men, cashiers, bookkeepers, or Jjust {plain “bucket shop touts.” "Many of them had become identified with inckat shops only a few years before. They had known those houses only during_periods of remarkable pros perity for such Institutions, only dur. ing times when money from _the suckers was pouring into bucket shops in a veritable golden stream. They had seen every 3 ng in and nothing going out.” Know Only Prosperity. They had not known bucket shops the days of big runs on those in- stitutions by frightened customers, nor had they ever seen the guns of orities trained on the bucket- ather had they of a mysterious pol ishielding many of the ‘from trouble, and the men W financing _the ex-employes in ! starting of the new bucket shops aj ! parently had thosg political connec- {tions themselves. Many of these employes had learned enough of the detall gf the business, |and were sufficiently fell able to get other employes to jcfn their forces, that they could quick ¥ whip together ian organization. Taey needed the { initial capital necessary to cover rent for the new offices, office furnishings, | salary for employes for the first few cost of cker” literature, Sibly @ “reserve” to cover the thould the first batch of customers have the market go right {for them and decide to take down | their profits. % | This last-named contingency is one {which appears to have worried manx {of the hucketeers but little, however, so confident were they t an early | winner would leave his money with | the house and continue playing until the market would eventually turn against him. A gulding principle of {a bucket shop is to Keep a customer iplaying, should he win. If he feels | disposed to take down his winnings, it ix up to the customers’ man to be- {guile him into further commitments {by imparting information on some !stock which s “tipped” as a “sure { thing.” Getting Customers. The new bucket shop operators. re- of older houses, did not find it nec sary to seek far to get initial cus- tomers for the new establishments. | Generally, the new house had a cus- jtomers’ man of one of the older {houses at its head, or in its ranks, |and he very probably had established | sufficiently friendly relations with aome of the customers of the older house that he was able to induce them_to switch their accounts to the ‘new establishment. | In fact, in many instances these initial accounts were very apparently used by the new houses as the capital "8 pm. ol house. e them) fine humor and smiles know. 11 am., 1 the songs the peopls “njoyers.”” Centennial Bapt. : | etors, did not fin; happiness and | for starting themselves on their way. | The ex-employes, now turned prop: it necessary in such instances, therefore, to accept the as- sistance of the bootleggers, gamblers, -, or others who were anxious to invest {in bucket shop enterprises. S| The reckless manner in which many lot thege new bucketeers, unknowing . | of the pitfalls which beset their o {cupation, went at thelr work, not only | surprised the heads of the bucket tho { shops with which they had formerly |been associated. but it fairly stag- 0, gered the old-line bucket shop men - | whose houses had been put out of ! | business in the reform wave ten years before. ROOM PAP} and embossed 54. FOR A yseif. 270 PEOPLE DESIRIN ) RIDE and from work in auto driven by & should phone Franklin RE RESPONSIDLE other than m, e OR LADY I young business loan_se- other { One of the stories afloat was that | 1ld_consider & partner. v Au. Box 144-R, Star_office TO SLASER MILLINERY COMPANY, 1413 F 8 Opposite CLOSING OUT I Day of Reckoning. .| The newcomers proceeded in a man- {ner indicating that they had little {idea that there could be a day of | reckoning ahead. It was their lack »f knowledge, or their utter disre- {gard of the “finer” points of the | bucketing business, which piled up such enormous liabilities for them as were revealed in the big series of {bankrupteies which engulfed them in | the spring of 1922. { A sort of mania developed for elab- orate office settings to impress the unwary. But the elaborate offices were not sufficlent. One house after |another acquired its own building. these new buildings were being taken {with the idea of “writing down” profits for income tax purposes, but it seemed much more plausible that the object was to play the impression- ability of the customers. Expenditures were made on circu- lars of a size never before known in bucket shop literature. This litera- ture for the most part was in the home comforts; will cent patients, paticnts desiring nursl board and care of aced people. 3 SHEAHA! 197 Park 5. = BEAUTIFUL FLOORS Main 1 835 F_st. n.w. L Blair road, Takoms form of market letters, generally is- "We Build Terms Denizens and Then Th'ese Take Up Same Game in Turn. l sued weekly, and presenting a_ story | of the course of the market during! the week, with an optimistic fore- | cast on the market in general, and stories on latest developments in the affairs of warlous companies whose stocks were active marketwise—these | stories generally being: written, of ! course, in tipster form. Such litera- ture afforded an easy .way to reach vast numbers of out-of-town pros- pective clients in a quick way. One house, which was reputed during one period as sending out between 500,000 and 1,000,000 circulars a week, found it convenient to_establish its own printing plant to handle the business. | Start Dranch Offices. i Branch offices were established by many of lheler houses in several cities. Some ‘of these houses at high expense maintained their own leased wires to the out-of-town branches. The new bucket shops vied with ! each other in commission payments to “touts.” The “touts” were dis- guised agents who inveigled the un- wary into opening accounts in the bucket shops. Unknown to the new customer, the “tout” obtained a com- mission from the bucket shop for ob- taining the account, this commission being paild out of the money turned in by the customer for the purchase of the stock. It was rather common b In the street when the Eit of bucketing was on, that sotne houses were paying “touts” as much as 50 per cent in such “commissions.” Another source of heavy expendi- tures with many of the bucket shops was the maintaining of telephone de- partments for the acquiring of new business through the use of the tele- phone. Large as were the telephone ‘hllls incident to this method of seek- ing out new clients, particularly in the big cities, It was apparently insig- nificant compared with the amounts which were pald in “commissions” to the glib youth who worked in the telephone “boller rooms” and obtained this new business over the phones. | Telephone Lists. One of the methods used in solicit- ing this line of business was for the telephone salesman to obtain a list of the stockholders of a company whose stock was active on_either the Curb Exchange or the New York Stock Exchange, and call up the stockholders, giving each some infor- mation with regard to developments in the affairs of the company and suggesting that at any time the shareholder desired to add to his holdings, or to sell his holdings, the 1 house would be pleased to handle the business for him. This might be followed a few days later by a second call in which at- tention would be drawn to the manner in which the stock had acted in the meantime, with a little stronger sug- gestion this time for action by the shareholder. In those cases in which | the shareholder happened to be de- | sirous of disposing of his stock, the | | bucketeers were anxious to do bust. ness with him because it was gener- ally possible to induce the customer to use the funds thus obtained for further commitments. Sold Margin Securities. One of the favorite methods of the bucketeers was to induce the holder of a stock which had a good market | to put up those holdings as collateral ; for an additional purchase of the stock. The obj&t of the bucketeers, of course, was to get the shareholder to become so extended eventually that a turn of the market would wipe out his margin. Such business was solicited over the telephones, over the | telegraph lines and by mall. So cer- tain were the bucketeers that the customer would over-extend himself, | and that the market would eventually | turn against him, that they showed { little hesitancy, once securities were put up by the customer, to secretly | sell those securities on the open mar- | ket and add the funds obtained | thereby to thelr own capital account. { The bucket shop man of fifteen years ago generally figured on main- taining a sufficient reserve out of the moneys turned in to him that on a de- pressed market he could buy a fairly large line of the stock which he had bucketed at high prices. Also, in a period of depressed market prices he d1d not strain himself to get people to open new accounts, especially on { the long side.of the market, which is the only side of the market that more than 90 per cent of the public wants to play. But the new line of bucket- cers, developed in recent years, and, as already noted, unacquainted with the pitfalls of bucketeering, did not keep any big reserve fund that was intended for the purchase of securi- ties around low marks. | Riding to a Fall. If they started out with such in- tentions, the extent to which they soon put out money in overhead and in luxurious llving, showed they quickly abandoned those ideas. Also, they were rushing peil mell after new accounts at a time when the securi- ties markets wefe at extremely low levels, discounting as it was one of the worst periods of business depres- sion which the country had known n_years. It was natural, therefore, that when the market should start upward on a big scale in discounting a turn for the better in business conditions, the new bucket shops would be in a perilous condition should their cus- tomers start to take profits to large | extent, or to call for their stocks, particularly so should the bucket shops find but little money coming in | T “DUNIGAN HOMES”-- EVENING STAR, WASHINGTON, D. C., FRIDAY, JULY 2 7, 19 Holiday Days—Getting Away From the News. —By GLUYAS WILLIAMS. TELLS HIMSELF THIS 1S SURE THE PLACE TO REST - NO TRAINS, NO TROLLEYS, NO NEWS- PAPER DAYS | WONDERS 1P THE YANKS OR GIANTS HAVE LOST THE LEAD WONDERS WHETHER BABE RUTH HAS KNOCKED ANY MORE OUT, AND HOW MANY GLUYAS WILLIAHS CERTA TWO-MINUTE TALKS ON SAFETY. No. 5. PASSING STREET CARS. A few weeks ago a lady, driv- ing an automobile, passed a standing street car. As she did so another lady stepped from the car directly in the path of the machine, and was struck and knocked down. The driver stopped to pick up the wounded one and found that she had struck her own mother. This emphasizes in a vivid manner the dangers of passing a standing car, and shows why the District Commissioners provided a fine of from fiv forty dollars for the vio of the following regula ““No driver shall permit hisve- hicle to pass or approach with- in fifteen feet of any street car which has stopped or is about to stop for the purpose of tak- ing on or letting off passengers; provided, however, that this re- striction shall not apply where street car loading platforms are established, in passing which, however, drivers shall exerc great caution and shall not ex- ceed a speed of twelve miles an hour.” This means that an automo- bile must stop fifteen feet to the rear of a standing car, unless the street is sufficiently wide to permit it to pass fifteen feet to the side of the car. Prepared by ‘Washington Safety Council. from new customers with which to| pay off the old—the usual line of | procedure followed by a bucket shop | when a run develops. It was that| sort of upward market, and that sort of lack of new business, which hll‘ the bucket shops in the spPinis of 1922 By the time that blow came, there- fore, the wholesale system of looting by the bucket shops > bucketing of orders for st sted on the | New York Stock Exchange had been going on more than two years. It was an open scandal in the street Yet the New York Stock Exc authorities were outwardly, inactive until the whole buc structure was Tight on the verge of collapsing from its own top-heavi- ness. This Inactivity and events in the collapse of the greatest plunderbund in stock-market history will be dis- | cussed in the next article of this serles. i Time for a good picture of Baby SPECIAL SUMMER RATES %Em ‘ Main 4408 FIGURES UP HOW MANY HE'S SEEN A NEWS- ANYTHING MAY HAVE HAPPENED SINCE HE SAW A PAPER -~ GERMANS RIED OR SOMEBODY MAY HAVE PAID UP REPLECTS THAT A MAN LOT OF TIME READING NEWSPRPERS - JUST A jabroad the T'S BEEN SINCE HE'D PREBABLY INLY WASTES A PLUTTERING IN GRASS (C) Wheler Syn. Inc. o TWO RUSS PROFESSORS PENALIZED BY SOVIET Alleged Propagandists Deprived of Citizenship and Libraries and Other Property Confiscated. By the Assoclated Press. MOSCOW, July 27 for their In punishment anti-soviet propaganda central executive com- mittee has ordered Profs. Ilvn and Melgunoff, who were deported last summer, deprived of their Rus- sian citizenship and the confiscation of their libraries and other property. sugar bandits are getting s tired of holding sugar for a The mighti nsom. IF HE WERE HOME OR THE PRINCE OP WALES GOT MAR- ELSE DIVORCED WOULDN'T MIND KNOW- 8E ING, AT THAT, WHAT READING THE STOCK UNITED PASTE PREF PAGE RIGHT NOW HAS BEEN DOING IT CERTAINLY 15 REST- PUL TO BE WHERE " YOU CANT GET HOLD OF A NEWSPAPER HABIT, THAT'S ALL— PICKS UP TORN YELLOW SEES SOMETHING PAPER DATED AUG.S,1922 AND SPENDS REST OF APTERNOON IN BLISSFUL HAPPINESS [ROTARY INTERNATIONAL i WILL MEET IN TORONTO | Week of June 16, 1924, Desig- nated for Convention—Program for Year Decided. By the Associated Press. CHICAGO, July 27.—The council of Rotary International, meeting here, decided to hold the next Rotary con- vention at Toronto, Ontario, Canada, during the week of June 16, 1924. The council yesterday concluded |a four-day meeting, at which the ad- ministration's program for the year was presented to the district gov- ernors. This program covers all matters of policy and administration which are to be worked oyt in the ral distric Would You Buy A Home For $30 A Month Let Us Explain Our Plan Four New Duplex Homes Something New—Inspect Today Two-Story Flats—Built Like One House 1600t0 1606 A St. N.E. Just North New Eastern High School Two-story Houses with four rooms, bath and back porch on cach floor. You can buy the building and rent out the second floor for enough to greatly aid you in}purchasing the house, making a good speculation as well as an investment. Don’t miss this chance. There are only four of them and they will sell quickly. Electric Lights—Window Shades Plenty Room for Garages, Gardens and Flowers Hot-Water Heat—Large Lots O Recognized by All Classes as Artistic Homes Well Constructed Homes and, Judging From Our ' Record Sales—“Popular Homes” A Home could not be built that would afford PUTS GOLF ABOVE HOME.| Charge Which Gets ProminentI Clubman Divorce From Wife. About two years ago Mrs, Hurd PITTSBURGH, July 27.—Jack V.|filed a petition for divorce, but when Hurd, prominent in’ club circles, has | $he falled to press her action Mr. been recommended a divorce from |aurd filed a counter petition. Dorothy I. Campbell Hurd, former 3 woman golf champlon of the United FLAT Tl RE? States, Great Britain and €anada, in LEETH BROTHERS a master’s report filed in common Service Charge Never Over $LOG 3 tles of housekeeping. “I believe It certain,” the master said in his report, “that she loves golf and indulges in it to the exolusion of her marital re- lations, and that she is determined to discontinue the latter.” pleas court here. . Evidence Introduced at the hearing indicated that Mrs. Hurd was an “in- veterate golfer” who preferred out door life on a golf course to the du on’t Neglect Auto Insurance The risk to auto owners is an ever- present one that cannot be shirked or dodged. You may be blocks away from your car when it is struck and damaged. You may have an accident yourself—the car may be stolen (hun- dreds of autos are)—it may catch fire —all possibilities—the cost of which can be placed upon a sound insurance company, and should be. We will advise as to coverage and cost upon request of our Insurance Department Boss and Phelps The Home of Homes 1417 K Street Phone Main 4340 L L A T oo g Civic Pride Is Inspired by HOME OWNERSHIP Be sure to see our new homes at Thirteenth and Quincy streets n.w. Just offered for sale. N N N N N N N N N N N N N N L _. Within one block of Fourteenth street car line. Six rooms and bath; all modern improvements; many special features. Attractive Terms N. L. SANSBURY CO., INC. “Everything in Real Estate” 1418 Eye Street N.W. Phones M. 5904-5 L2z rom the AVENUE o NINTH- N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N Open Saturday until 2! Palm Beach Suits 10 Reduced from $l 5 We are open just long enough tomor- row to give our patrons the opportunity to get their hot-weather suits for the week end at greatly reduced clearance prices. Our entire stock of Palm Beach Suits, which have been selling for $15— now $10.75. All sizes from 33 to 50; all silk trimmed; all shades and all styles. Sale of Summer Suits Tt Won't Take Us Long General |--to put that car in good | AUTO jrunningorder—our Repairs |shop has best facilities. R. McReynolds & Son Epecialists in Painting, Slip Covers and . 1423-1425 L ST. N.W. Main 7228. PRINTING —that fulfills your highest expectations {The National Capital Press 12101212 D et The Adams’ Impress ~—stands for satisfaction—plus in printing. *High grade. but mot high priced.™ BYRON S. ADAMS, JFRNTEm. Good Roof Paint good Root Painter! You get them both by hdving this reliable firm apply our ProtecTin Roof Paint. . Thorough, sincere work always. Ask for estimate. KOONS ROOFING 1422 ¥ St. N.W. COMPANY __ Phone Main 933 Did the Roof Leak? ~—Leaky roofs quickly cause ruin to walls and paper, hence they are mot to be neglected. We make roofs leakproof. TRONCLAD Reoting 1416 F at. n.w. Company. Phone Main14. " Save Your Metal Roofs PERMANENTLY Wit Hirsh Roofing Compound Guaranteed 10 Years. A heavy-bodled coating of asphalt and as- bestos; ten times thicker than paint. Does not dry out. Makes a cooler roof. We are daily covering roofs, rusted worn, on residences, warehouses, public ga- yages, churches, laundries FIRE RESISTING—WATERPROOF. For Sale and Applied by Paul H. Sears Co., Inc. Main 3934, CONTRACTORS. Bond bldg. —to suit a Home Buyer much the same as we Build Homes. are carefully thought out, and The more comfort, either in Winter or Summer, than otir made successful bez)re you start. NEW PETWORTH HOMES Over 1,000 summer-weight suits reduced for our once-a-year clearance sales as follows: BroriErma Homes At $7,700 and $7,950 Are a revelation to the Washington public in reasonable- ness of price, design and in value or location. $18 and $20 Mohair Suits now....... $20 Irish Linen Suits now........... $25 Shantung Silk Suits now......... $25 and $30 Tropical Worsteds now. . $9 and $10 White Flannels now...... ....814.75 <eee 1475 .... 1675 - 18IS 7.75 If You Buy Before Seeing These Complete Homes, You Will Regret It High Elevation Convenient to “Grant Circle Bus” or 9th St. Cars Marked “Soldiers’ Home” 4306 3d St. N.\W. (Near Varnum) Six Rooms—Tiled Bath—Hot-water Heat—Electric Lights Go Up Northwest And See This Remarkable Development 36th and R Sts. N.W. (Right at Western High School) Selling Stops at 2— but Service never stops at P-B! To Inspect Br auto—drive across the Q) street bridge, turn north one block to R street and drive due west to 36th street (right next the Western High School). Or take P street car to 35th street and walk north to R street or Wisconsin avenue car to R street and walk west to 36th street, N —That will ;give you shade or sunshine any hour of the PorChes day. Deep lot to wide alley. The Avenue at Ninth We Invite Inspection. Price and Terms Reasonable Open Satarday until 2 P.M. Open and Lighted Daily Until 9 P.M. D. J. DUNIGAN 1321 New York Ave. NW. Phone Main 1267 O HANNON - & LUCH Ouwners and Builders \ NATIONALLY