1916

But the eradication of bucket shops on the eve of the war was another important factor. The New York Times noted a “remarkable in- crease in the odd lot business” on the stock exchange in April 1916; “thousands” of former bucket shop customers, “practically all of whom were small speculators, have opened ac- counts with branches of Stock Exchange houses.” Those new customers were used to the mechanics of trading on margin because of their experience in bucket shops.47