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SCHEME FOR BEATING BETTING LAW LAWWall Wall street betting commissioners have taken a leaf from London Lloyds who write insurance policies amounting practically to l ets and have devised a new form designed to avoid the penalties prescribed by the New York antibetting law Tho new system consists of an exchange of memoranda in some such form us In tho event of Wilsons election I agree to pay 100 and by the other party in tho event of Wilsons defeat I agree to pay 300