A place where you can bet whether a stock will go up or down. You do
the guessing and the "bucket shop" makes the money. If you win
sometimes you get your money back and sometimes you don't.
"TIPSTERS."
The "tipster" in Wall Street is like the tout on the race track. He
pretends to know all about it, and is a very solemn and mysterious
individual. He tells one man to buy and another to sell, knowing that
whichever way the market goes one of them will be a winner, and the
"tipster" will get his share. The one who wins tells his friends, who
think the "tipster" must be a wonderfully shrewd individual, and in
this way he builds up a profitable business, and the "lambs" come
flocking his way. He keeps on telling one set of his victims to buy a
certain stock, and another set to sell it. Whether the stock goes up or
down the "tipster" wins, and those who are on the right side of this
particular deal spread his name and fame among their acquaintances.
"INFORMATION BUREAUS."
These bureaus are "tipsters" pure and simple, only they travel under
the name of a "bureau," instead of their individual names.
"A SCALPER."
One who is in the market continually guessing and gambling on the rise
or fall. He risks a thousand dollars to gain twelve and one-half
dollars.