Silkworth Convicted

In the winter of 1921-22 and the following spring, the strong rise in stocks very effectually put out of business a horde of "bucketshops" and crooked brokerage concerns. Among others was the firm of Raynor, Nichols & Truesdale, members of the Consolidated Stock Exchange. The courts, like the mills of the gods, have subsequently ground slowly. Only last week saw the final conviction against individuals involved by the Raynor, Nichols & Truesdale explosion.

William S. Silkworth, former president of the Consolidated Exchange, had become entangled in the firm's affairs, and was sentenced to a fine of $1,000 and 90 days in jail. The charge was defrauding through the mails. Mr. Silkworth was, however, admitted to bail pending the hearing of new motions.

So slow are the courts, and so overcrowded the court calendars, that speedy punishment of evildoers appears impossible. Moreover, penalties imposed by the courts are out of all financial proportion to the scale upon which the public has been relieved of its funds.