Word: bucketshop
(lookup in dictionary)
(lookup stats)
Dates: during 1920-1929
Sort By: most recent first
(reverse)
James Cannon Jr., militant dry, Bishop of the Methodist Episcopal Church, South, was lately revealed to have had extensive stock transactions with a bankrupt Manhattan bucketshop (TIME, July 1). Cannon critics questioned whether such dealings were worthy of a Churchman...
Last week Churchman Cannon was revealed in a new secular role. Investigators into the. affairs of Kable & Co., a bankrupt Manhattan bucketshop,* discovered that, like so many of his fellow countrymen but unlike most churchmen, the Bishop had been playing the stock market...
...been buying securities "on the instalment plan," not gambling. Then he explained that during the last presidential campaign Senator Carter Glass (Va.) telegraphed to him: "For some unexplained reason affidavits have today been placed in my hands relating to alleged stock gambling on margin by you with the late bucketshop firm of Kable & Co. . . . Would you have me promptly deny for you participation in any such transaction? . . ." The Bishop, who said that he first properly "digested and appraised" this ''suggestive skilfully-worded telegram," answered: "Affidavits evidently sent you for purely political purposes to destroy or weaken effect...
Charles E. Brickley (famed Harvard football captain, fullback and dropkicker of 1914) was sentenced to 15 months in jail for running a bucketshop (TIME, March 12). The judge, the prosecuting attorney, the assistant court clerk and Mr. Brickley's counsel were all Harvard men. Said Mr. Brickley to the judge: "I want to thank you for the fairness and consideration shown me during my trial. I am very sorry that anyone lost money through my trading in the stock market, and if the wheel of fortune ever turns my way again I hope to be able to pay back...
Whatever the solution to the bucketshop problem may be, there is evidently force to the Stock Exchange's contention that bucketshoppers are inadequately punished. Recently, attention was drawn to the case of one Jules Rabiner, who failed in 1922 owing about $500,000 to his customers. After being tried, convicted and sentenced, Rabiner recently appeared in the white light district. An indignant customer forced an investigation and it was found that after serving about three months, the bucketshop keeper had been paroled...