Punished?

Two years ago the Manhattan firm of S. S. Ruskay & Co., self-styled stockbrokers, failed for about $5,000,000. The assets of the concern were found to be unimportant and the loss imposed upon the customer-victims of the concern ran into many millions.

After two years of "the law's delay," sentence was last week pronounced. Burrill Ruskay, head of the firm, was found guilty of trading against the account of a customer. He must undergo a prison sentence of from three months to three years. Ruskay has appealed the case, however, so that even this slight punishment has a very theoretical aspect. In spite of the ex-bucketshop keeper's plea that he was penniless, he presented what has been termed a "brisk apearance" in court and seemed to be able to command the services of expensive legal counsel.

Sometimes the question is asked "How can bucketing be prevented?" One way which will not stop it is light jail sentences for the guilty parties. Any rascal will willingly undergo imprisonment for a few years, with several millions "salted away" somewhere to enjoy after the short ordeal is over.

The moral thus far to be drawn from the Ruskay episode is twofold: 1) the risks of conducting a bucketshop are small in comparison with its possible profits, and 2) if you are going to steal your customers' money be sure and get several millions at least.