Outside the Blue Bonnets racetrack sat an alternate gambling site in the parking lot, where – at least until the mid 1980s -- mob-related characters did business from car trunks jammed with cash. The odds offered by the wiseguys were said to be better than the ones offered at the wickets inside.
Those who struck it rich on the ponies that day would often haul their cash across Decarie to buy jewelry or other goodies at a pawn shop inside the Ruby Foos building
That same pawn shop was also handy those seeking to pawn off valuables for gambling debts.
That pawn shop was part of a network of fencing operations run by local Jewish hood Larry Bailey, or Larry Bayly, a character I’ve been trying to research more profoundly.
Bailey, who died at about age 75 around 2006, had about 15 such pawn shops at his peak and was believed to also be involved in various other misdeeds such as importing large amounts of drugs and was also involved in a high profile real estate fiasco that some might remember.
Bailey was a high-living, larger-than-life wheeler-dealer whose long-suffering wife stayed loyal to him and helped him raise a son and a daughter, even though he was known to walk around with two hookers or mistresses at a time.
He wasn't the most reverential soul either: once at a religious function Bailey was obliged to attend, the rabbi pointed out that Bailey was not sporting the proper head covering. So Bailey went outside, found a paper plate and put it on his head.
Bailey started as a fence as a young age and had a serious police record, and I don’t mean Regatta de Blanc.
Bailey’s last Montreal hock shop was said to be a joint called Yadel.
And he did so well pawning off old stuff that Howard Stern used to do radio ads for the place in the 80s. In the ad, Stern repeatedly said that none of the goods were stolen.
Stern should have been saying that pretty much all of the goods were stolen items.
Bailey’s son Matthew also owns, or owned a pawn shop called York. He is said to be good at business and is not at all involved in any illegal activity.
Another part of the tale that I’ve heard but still haven’t fleshed out entirely (any additional info would be appreciated): Bailey also went in with the City of Montreal to buy up a number of properties alongside the Lachine Canal sometime during the Dore era. The idea was to renovate them and use them as resources for the artistic community, or some such thing.
But when the city realized that they were doing business with a someone who had a long criminal past, they bought him out, presumably to his great profit.
Any additional info to help me further research this great overlooked Montreal character would be greatly appreciated.