BIG BET ON SHAMROCK DOUBTED BY BROKERS

New York Times

F. H. Brooks Does Not Believe Any One Will Give Odds of 5 to 3
---
J. A. Chambers of Pittsburg Says that No Such Wager Was Made in That City
---
There is doubt in Wall Street and thereabouts as to the "big money" said to have been wagered on the yacht Shamrock II. at the odds of three to five.

"I don't believe anybody anywhere is putting up odds of five to three on the American boat," said Frederick H. Brooks, who does a bit of a brokerage business in bets. He is a member of a firm that does a large business in stocks---Seligsberg & Co.

Mr. Brooks received over the telephone day before yesterday a message from J. Montgomery Smart, broker, of the Produce Exchange Building. Mr. Smart said he had just had from Pittsburg a communication from W. J. Kingsley, representative of an English syndicate that wants to bet money an the yacht brought over by Sir Thomas Lipton. Mr. Kingsley had telegraphed to Mr. Smart that he wished to "put up another $250,000" at odds of three to five on Shamrock II. Mr. Smart, not wanting to handle bets himself, asked that Mr. Brooks look into the matter.

"When I got the message," said the latter yesterday, "I replied that Mr. Kingsley could find me here in my office, [on?] Broadway, and that I had money to put up. But I said I wasn't placing any five-to-three bets. This morning I saw in print that Mr. Kingsley was going to meet me to-day. He didn't show up."

Mr. Brooks said further that he placed no credence in the story of the big bet supposed to have been taken by Pittsburg capitalists. This story was that Mr. Kingsley, after reaching this country with a big supply of coin belonging to his syndicate of employers, placed in the hands of "a reputable stakeholder" the sum of $150,000 against $250,000, the latter amount belonging to "Pittsburg capitalists" who thought the American boat, whether it be the Columbia or the Constitution, was going to win the international yacht races.

According to both Mr. Brooks and another broker whose name has been coupled with the supposed transactions, there is not a bit of five-to-three money in Wall Street to bet on the American yacht. Mr. Brooks says that he himself will take five to four, and he says he can find plenty of men in the Street who are willing to place considerable amounts on the Shamrock at three to five, but that they have tried in vain to get "takers." Mr. Brooks added:

"As far as I know, this is the way the thing stands: There have been made a good many small bets at ten to nine, some even at ten to eight, on the American boat. I put up $10,000 to $8,000 for a client the other day, and that is the heaviest bet I know anything about. I have $100,000 now ready to place at even money, and, as I said, I have some coin at my command that may be placed on the Shamrock, if I can get any such odds as Mr. Kingsley wants. Not half an hour ago several men wanted me to get up money for them on Shamrock."

At J. Montgomery Smart's office it was said yesterday afternoon that he was not doing a betting business and that he had figured in the matter simply by accident, happening to know Mr. Kingsley. Bell & Co., brokers, also had a communication asking them to place bets, but they, too, deny that they will have anything to do with wagers on the yachts. Several brokers seen yesterday agreed with Mr. Brooks's opinion as to the betting situation.

Related Biographies:

John Montgomery Smart

Contributor

Mark Baber

500
Leave a comment...