Men do not blush at being seen in a "bucket shop" as they would if
caught in a faro bank or poker room though they are drawn thither by
the same passion for gambling that takes them to the regular gambling
den. The "bucket shop" successfully carries on a worse swindling game
than the "blacklegs." The wealth the chief "bucket shop" men of the
country have acquired proves this. Men can be pointed out in Chicago,
New York and other cities of the country who have amassed fortunes at
the business while their thousands of victims are impoverished and
ruined.
Persons desiring to speculate or invest can avoid "bucket shops" and
"fake" brokers by making a preliminary and independent investigation
into the character of the broker and the merits of the enterprise.
If they accept the statements and references of promoters of schemes
without making such investigations they are not entitled to sympathy
if they are robbed.
Legitimate brokers do not resort to sensational advertising; they do
not guarantee profits; nor do they solicit funds to invest on their
judgment. The functions of a broker or commission merchant are to
receive and execute the order of his customers. When he offers to do
more (except in the way of giving market news, advice or conservative
opinions) he should be avoided. Promoters of pools and syndicates and
disseminators of advance information should be carefully avoided.