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    "source_title": "Encyclopaedia Britannica (1911)",
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    "chunk_id": "1911:bucketshop:a9b48f5ccff5",
    "title": "BUCKETSHOP",
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    "verified_text": "bucketshop, a slang financial term for the office 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, of a simple bet or wager between the broker and client, no pretence of an actual purchase or sale being attempted. the term is sometimes, though loosely and wrongfully, applied to [v.04 p.0666] all stockbrokers who are not members of the recognized local exchange. the origin of the word is american. according to the _new english dictionary_ it is supposed to have arisen in chicago. the board of trade there forbade dealings in \"options\" in grain 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 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. buckholdt [properly beukelsz, or bockelszoon], johann (c. 1508-1535), dutch anabaptist fanatic, better known as john of leiden, from his place of birth, was the illegitimate son of bockel, burgomaster of soevenhagen, who afterwards married his mother. he was born about 1508, apprenticed to a tailor, became infected with the opinions of thomas munzer, travelled in pursuit of his trade (being four years in london), married a widow, became bankrupt, and in september 1533 joined the anabaptist movement under johann matthysz (matthyszoon), baker of haarlem. he had little education, but some literary faculty, and had written plays. on the 13th of january 1534 he appeared in munster as an apostle of matthysz. good-looking and fluent, he fascinated women, and won the confidence of bernard knipperdollinck, a revolutionary cloth merchant, who gave him his daughter in marriage. the munster anabaptists took up arms on the 9th of february 1534 (see anabaptists). on the death of matthysz (1534), buckholdt succeeded him as prophet, added his widow to the number of his wives, and organized a new constitution for munster, with twelve elders (suggested by the tribes of israel) and other officers of a theocracy, but soon superseded these, making himself king of the new zion. his arbitrary rule was marked by pomp and severity. munster was retaken (june 25, 1535) by its prince-bishop, franz von waldeck. buckholdt, after many indignities, was cruelly executed on the 22nd of january 1536; his body, and those of his companions, were hung in cages to the tower of the lamberti church. his portrait is in _grouwelen der hooftketteren_ (leiden, 1607; an english edition is appended to alexander ross's _pansebeia_, 2nd ed., 1655); a better example of the same is given by arend. see arend, _algemeene geschiedenis des vaderlands_ (1846), ii., iii., 629; van der aa, _biographisch woordenboek der nederlanden_ (1853); e. belfort bax, _rise and fail of the anabaptists_ (1903). (a. go.*)",
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