bucket shop

The business forbidden by the act of 1905 is—to avoid a paraphrasis, and following the usual American method of describing an act by a word or a phrase—the business of running a 'bucket shop,' which is defined by the Century dictionary as 'an establishment, nominally for the transaction of a stock exchange business, or business of a similar character, but really for the registration of bets or wagers, usually for small amounts, on the rise or fall of the prices of stocks, grain, oil, etc., there being no transfer or delivery of the stock or commodities nominally dealt in.

An establishment nominally for the transaction -of a stock exchange business, or business of a similar character, Out really for the registration of bets or wagers, usually for small amounts, on the rise and fall of the prices of stocks, grain, oil, etc., there being no transfer or delivery of the stock or commodities nominally dealt in. State v. Mc Ginnis, 138 N. C. 724, 51 S. E. 50, adopting definition of Cent. Diet.; Gatewood v. North Carolina, 203 U. S. 531, 27 Sup. Ct. 167, 51 L. Ed. 305. Ostensible brokerage offices in which transactions in stocks and commodities are closed by the payment of gains or losses, as determined by price quotations. No property is bought or sold. Report to Gov. Hughes of N. Y., 1909.

See Wager, 2.