BUCKETSHOP

This article appears in Volume V04, Page 721 of the Encyclopedia Britannica.

Encyclopedia Britannica - Main :: BRI-BUN

BUCKETSHOP , a

slang

SLANG

financial

FINANCIAL

term

TERM

for the

office

OFFICE (from Lat. officium, " duty," " service," a shortened form of opifacium, from facere, " to do," and either the stem of opes, " wealth," " aid," or opus, " work ")

or business of an inferior class of stockbroker, who is not a member of an official exchange and conducts speculative operations for his clients, who deposit a margin or cover. The operations consist, as a

rule

RULE

, of a simple bet or wager between the broker and client, no pretence of an actual purchase or sale being attempted. The

term

TERM

is sometimes, though loosely and wrongfully, applied to
all stockbrokers who are not members of the recognized local exchange. The origin of the word is American. According to the New

English

ENGLISH

Dictionary it is supposed to have arisen in Chicago. The Board of

Trade

there forbade dealings in " options " in

grain

GRAIN (derived through the
French
from Lat. granum, seed, from an Aryan root meaning " to wear down," which also appears in the common Teutonic word " corn ")

of less than 5000 bushels. An " Open Board of

Trade

" or unauthorized exchange was opened, for the purpose of small gamblers, in a neighbouring

street

STREET
STREET, GEORGE EDMUND (1824-1881)

below the rooms of the Board of Trade. The lift used by members of the Board of Trade would be sent down to bring up from the open Board what was known as a " bucketful " of the smaller speculators, when business was slack.

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