Show BETTING ON ELECTIONS now iod I od OB as a branch anch of drol brokerage wall vall street Opera tori place inace liets dots for their patrons patrona abid realize largo large speculation growing betting on elections ila haa become a recognized branch of the business of many wall street brokers toward the nd of the recent campaign che bettink betting on the national election became of such magnitude that the names of cleveland and harrison arrison II might inight appropriately have been placed among 0 the stocks and printed with the re regular quotations the sun thinks it is likely that in future campaigns campaigns much more betting than ever will be done by recognized brokers and that the election betting like other big 0 financial interests will center in wall street As the majority of the wall street bets not made with the publicity which attended betting 0 in hotels it was only w N lion hen zett bottling ling time came af after ter the election that their gross magnitude became somewhat known the Tho bettorf bettors s on the election in wall street were greater speculators tors than those who made wagers at the hotels or put up their money nione Y it at some uptown up town poolroom hundreds of men keep balances with their r wall street bro brokers hers to be available abany at any time 1 in sto stock 11 1 speculation these accounts differ from the ordinary bank al count account in that the wall street account i is kept for purely speculative ic purposes e s while the bank account hoor is for business purposes after a pros p os porous business season when the merchant has taken take ri care of all of his own paper and dobli obligations 0 al k ion and has a corn coni fordable tor for table surplus left lie he is apt to go to wall street to invent and aid usually to speculate speculate V for lic he regards the wall vall street fund a as somewhat of the nature of gain gambling bling money with such men speculation last autumn took for the first time a turn toward cle elections eions whereas before it had been confined to stocks wheat corn oil and other products with recognized reco r nihei quotations none nonce of them appeals to tile the business man as does politics almost all business men inen personally have strong political prejudices even many of those aho vho who will not talethe kethe ta tak etho trouble and time to register and vote have a strong feeling 0 for one party or the ol 01 other 1 ili wll wall street brokers have not as yet charged commissions on oil election both bot and this gave the speculative business man still more of a turn toward election bets for L lie he did not have to pay a quarter commission it aho attracted him from the uptown up town tow betting re resorts orts for any man going 15 to a bookmaker to place his money would do a little worse vorse than if ile he could meet at once some man who was as eager to bet on the other sidi sid the brokers began by placing el election c bets to oblige their customers who had balances with them and they soon found that the business was profitable the money was always put up by the customer and as the brokers making the bet were well acquainted with each other there was no necessity of putting the money in the hands of a stakeholder and tho the respective brokers could retain the money without paying ng in interest if the election clec tion bets were vere made a long time before election the profits to the broker were greater than if he biad made a turn in stocks for biscus liis customer and the bother was much less it is likely that in the aggregate these wall street election bets amounted to more than the IIo iTman house bots bets A man could offer through his broker to place fifty or a hundred thousand dollars on cleveland or on harrison rind and the broker would parcel t out inloes in lots in the same way as if he had an order to buy or sell five thousand shares new possibilities have been opened to the wall street broker now that they have seen how easily they can do the business of election betting which might be extended to cover any other event of uncertainty or great public interest there is now no betting place in now new york corresponding to certain well known bet betting ll 11 inn establishments in london and paris there are arc any number of pool poo rooms but it requires a man of some e experience peri ence to deal with the them besides the as associations are not always pleasant andi and ta the lc becu security rity for payment if one wins is not so good as it might be the per cent against the player is high as the expenses of the pool rooms are arc large and thore there i is not the open competition between them which exists ests s between the bro brokers hors it now remains t fo for r brokers to take bets on horse races as they have taken bets on the elections they would get a different kind of men in the hoi borc he race betting and through 0 the summer wall street would not be so lull i and t nd profitless as it usually is during that season |