Crash of '29 effects delayed in Midwest
Bv KATE POUND
Staff Renorter
Tick, Tick, Tick. The ticker tape machines tapped messages for Oct. 29, 1929. Tick, good, tick, much.
Across the country, stock brokers, bankers and speculators watched, witnesses to the death of the Roaring Twenties and the birth of an ugly legacy: the Great Depression.
Halfway across the country, students and professors on Mount Ouret, unaware of the panic on New York's Wall Street, hurried home from classes. In 1929, revealed a normal day on campus. The big news was an accusation made by the Iowa State University football coach that KU paid its players. Iowa State officials said they were not involved.
The stock market was far away from most KU students and faculty, Ruth McNair, professor emeritus of biology, said recently. Few people at the university had the money to spend on the market, she said.
"I DIDN'T HAVE enough money to worry about the market. That was only for the rich in the End." Mackenzie
According to Donald McCay, professor of history, the full effect of the market crash did not hit the capital markets.
Investors and industry were the hardest hit by the crash, McCoy said and, except for Chicago, there was no impact.
"Some people become nervous, but it wasn't until well after the 1929 Christmas sales rush that any of us got used to it."
it was different on the East Coast. The panic on Wall Street climaxed on Oct. 29, but had actually started well before that. It almost daily account of slumping stock prices. The decline was slow at first, picked up momentum, then slowed again. By the middle of October, the Times published a report of investment and predicting a boom year in 1930.
THE 1920s HAD been boom years on the market; speculation became easy, a quick way to make money. Middle income earners bought stocks on the basis of high returns; this was little as 10 percent of the actual value of the bond.
By 1929, there were more than 9 million stockholders in America and brokers, politicians and industrialists were encouraging wage earners to buy into the market.
Early in the decade, speculation fever had hit. The post World War I economic boom had suddenly made Americans consumers instead of simply producers, who were still buying beef and pork. Galbrath, Growing industries needed more capital!
THE CASHAL stock market watcher, there was no end in sight to easy money. But economists and investment managers are according to Galbraith. Credit was too easy to obtain, far too many of the stocks purchased during the financial crisis.
investments and Americans, with more money than ever to spend, willingly deposited their savings into banks.
Fortunes were being made of paper. Embezzlers, knowing that speculation fever made people reckless, sold phenyl stocks or stocks they didn't own. The speculation accounted for the crash was coming, Grathraith said.
Even President Herbert Hover knew, McCoy said. "Hoover was aware of the situation. He tried to help but he couldn't do it alone. He wasn't able to get the country together on a policy." McCoy said.
RUNNING ALMOST pell-mill, the market entered the fall of 1929. When the market slumped in September, several large investment firms combined efforts to combat it. Charles E. Mitchell, president of New York's National City Bank, Amadeus Peter Gannimin, president of the Bank of America and partners of P.J. Morgan met several times. Accelerating their efforts only delayed the inevitable crash.
On Oct. 24, Black Thursday, the New York Times headline read, "Prices of Stocks Crash in Heavy Liquidation, Total Drop of Billions." Stockholders were shocked when news that a stock at once. Speculation fever had developed into fear and fear was infectious, Galbraith said. More than 1,048,359 shares were traded that day. The loss from this week's panic was $265 million.
ON FRIDAY, OCT. 25, the headlines were more enthusiastic. The crash had been stemmed, the Times said. Yet as early as Wednesday, the crowds formed early Friday outside the Stock Exchange Building. They went away assured investors.
The weekend was peaceful. Investment companies kept their offices open on Saturday and Sunday, trying to clear the mounds of paperwork. Few changes occurred in the situation on Monday.
Tuesday morning, Oct. 29, was different. Selling became brisk, then surged into a frantic, unstoppable, downhill run according to the Times. By the time the ticket tape machines signed off with their traditional good night, 15, 383,700 shares of stock had been sold. Total loss was more than $1 billion.
THE UNIVERSITY DAILY
Wall Street stood silent. a massive, hushed ruin
"NONE OF THE experts foresaw how bad it would get.
McCavoy said."
The plight of Midwestern farmers added to the economic woes. At the beginning, overproduction CRAZE
Slowly, the force of the crash hit industry. Fashion and credit were tight. By 1982, more than 15 million employable Americans were jobsless, Gallibrath wrote in 1994. Prices dropped, but even at new lows one no longer can afford to eat.
KANSAN
The University of Kansas—Lawrence, Kansas
Vol. 90, No.46
10 cents off campus
free on campus
Monday, October 29, 1979
Yankees fire Billy Martin
See story page six
KCCR to investigate clubs
The director of the Kansas Commission on Civil Rights said yesterday that a KCRC investigation of alleged discriminatory practices would be展开, relatively shortly.
the director, Michael L. Bailey, said the KCCR had to complete an investigation into Mr. Sullivan's behavior that could begin its investigation of the clubs, Sheenanigans, 901 Illinois St. and Brooklyn Center.
the commission can vote to enter a complaint on its own behalf or conduct an investigation without one. Bailey said.
He said the commission's decision was based on information obtained from news media reports of allegedly discriminatory practices in distributing membership applications.
Earlier this fall, local and area media, including the University Daily Kansan, conducted inquiries into inconsistencies in the clubs' membership policies.
The seven-member commission voted unanimously Thursday night to conduct the investigation. Although the commission
"If it's relevant, the investigator might interview parties employed there or patrons of the clubs," he said.
Bailey said he hoped the officials of the clubs would voluntarily give information requested by the investigator.
"But we do have subpoena power if it is needed." he said.
He said that if the investigation revealed that membership policies at the clubs were discriminatory, a cease-and-desist order would be issued to club officials.
Steve Comeau, manager of Bullwinkle's,
and John Sheppard, manager of
Still kickina
BARB
Several former members of the KU pomp squan ride ala-pen a Homecoming float during Friday afternoon's parade. Thirty girls, ages 13 to 18, wore tutu skirts and floral embellishments.
pam girl reunion. About 20 of the women, some no to the field at halftime of the Homecoming footballs, are on a farm in West Michigan.
Debate team claims far in national tournament
Staff Reporter
By HAROLD CAMPBELL
The KU debate team, it seems, has quietly become a national power during the past decade.
Among university debate teams nationwide, KU has one of the better debate programs in the nation. Donn Parson, KU director of念头 and head debate coach, works with the team.
"The 1970s have been called the decade of KU" by other university debate teams because of KU's consistent success in debate." Parson said.
Parson said KU had won the national debate championship in 1970 and 1976, and KU teams had been third in 1970, 1971, 1972, 1973, 1974. KU teams also were fifth in 1972, 1974 and 1978.
Two KU debate teams were invited to the national championship tournament in 1970. Parson said.
He also said 37 KU debate teams had been invited to the past 33 national tournaments, a record unmatched by any other university in the nation.
A TEAM CONSISTS of two persons. Parson said. He said there were 16 debate teams.
Parson attributed KU's success to the debaters' desire to work, desire to argue and ability of expression.
One KU debater, Paul Johnson, Denver University graduate and key learner in the life app for iPad users with 1,900 apps. The file drawers are filled with information on subjects taken from magazines, books or other sources.
sure, however, that debate was not only an exercise in research, but that it also emphasized the ability to quote authors to make arguments more convincing.
"It takes a lot to be a debater," he said.
"It is not easy."
He said a number of the cards were quotes from different authors.
"You don't prepare for just one debate tournament at a time," he said. "It is necessary to keep researching day after day to come up with new information."
KEVIN WILSON, Austin, Texas, senior, said the research involved in debate was like an "on-going term paper."
He said he spent about 20 hours a week outside of classes doing research for debates.
He also said he went to about 10 debate tournaments a year. That, he said, often made him absent from Friday and Monday classes.
Zac Grant, Joopin, Mo. ; rophmore, said research required in debating helped him to organize his thoughts and write better papers for classes.
"You try to make your schedule so you don't have classes on Monday, Wednesday and Friday," he said.
THE SUCCESSFUL record in debate, Parson said, has given KU's debate program a good reputation even among high schools outside Kansas.
HOWEVER, Johnson said he enjoyed the work because he enjoyed competition at tournaments and meeting new people there.
Debaters also said participating in debate helped their class work and would help in their future jobs.
Wilson said debating helped him in preparing for law school.
Johnson said the KU debate program had been "highly recommended" to him in high school because his debate teacher was impressed with KU's record.
Debating helps you to develop skills in analyzing problems," he said. "In debate, you must be able to look at both sides of a question intelligently."
'My debate teacher told us outstanding academic and reputation, so I decided Johnson said. Grant also a KU because of the deeds as one of the programs.
"IT WOULD NOT WORK to compete against quality team." We need the competitive teams to get ready for the competition.
Parson also said KU ha good reputation in debate by against weaker opponents.
The top 60 debate teams teams from U.S. colleges are chosen for the national at the college level throughout the United States
The teams are selected their performance in the deli The debate season lasts through March.
at the University of Arizona. Despite increasing commitments, he said KU's dears looked encouraged because people involved in his work are not so financial support.
"I think our reputation attracts detractors," he said need additional funding to compete in tournaments."
He said the team receive Senate to use for transport two meals a day at tournaments cost at a 1975 level. costs at a 1975 level.
This year's national chari
at the University of Arizona
HE Cotton Bowl. 1954 Dickie Wicke of Rice takes the ball at the 5 and breaks through the line at 2
the clear, and is outrunning every. Alabama defender nits it. Sight it, you know where the ball goes and touchdown. But as Moogie darts down the sideline and crosses muffled, the pressure of the moment in a tight game became too much for Alabama bulldown backtown Lewis, who is sitting out the play with his arm. Moogie goes Bangle on a haul with jarring body block. (The reference declared a Rice toowndose Bangle.
"Ikept saying to myself, 'I didn't do it,' I didn't do it." But I knew did it, an embarrassed Lewis told
the press later. "I'm too emotional I guess I'm too full of 'Bama.'"
Say what you will about college football, but don’t ever say it isn’t emotional. Sunday afternoon footbal and approaching perfection and perceptible. not but the college game. The passions run high Winning matters. Loving hirsits. Human valor and human error will make a difference.
And fans, consequently, are well advised to prepare for the unforeseeable circumstances of the field and in the stands not enough to render the game a force.
After it, the moment Cotton Bowl tackle, Lewis receives a telegram of encouragement from Roy Regel, who knew what Lewa was feeling. "Laugh with them all you’ve got to do," Regel wired.
Riegels, of course, is the man who recovered a fumble for California in the 1929 Rose Bowel and ran
Strange Moments in College Football
KICKIN' 'N' GRINNIN'
with it, the wrong way. Atmmatec caught up with him before he could be heard. He told Tech, but Tech was picked up a two-pot safe, on the next play.
According to legend, there was once an interesting reversal of the extra-maid on-the-field incident. A player named Houses Audrey suposely arrived on game day in his street clothes. On the first play he struck a foul ball that unintentionally onto the field and caught touchdown pass.
Oftentimes, though, people on the field who look like spectators are real spectators, and something wild is in the works. Like the 1972 Ohio State-Michigan game, as possession a rivalry as in any of the 19th-century Big Ten Buckeyes fans surged into the field and tore down the goalspost.
Unfortunately the game was over. There were still 13 seconds left, and Michigan had the ball at Ohio State's 41-yard line, trailing effectively by a field goal, effectively scared a field goal from Michigan's list option.
No matter Michigan coach Beeblehem didn't planned to try a field goal anyway. The score did not change in the final seconds.
Fam can get a bit overtusiveness at times. One of the most comfortable political hosts Hoy Long of Louisiana, who flexed his considerable political muscle on behalf of LSI football in the early 1980s. In his fight song, hung the band director, and offering advice to the coaches, long wanted to see a large student contingent on guard for outdoor sports. He also wanted the railroad to offer students a discount price. Railroad officials complained that this was a monotonous, tedious job.
with another proposition - a still new tax. The bank tail discount became a reality without further ado.
Sometimes there's as much excitement and drama in the stands as there is on the stage. They've been supported several years by Brigham Young student Lyle Mestenbrough. At haltime, Brennan shines up with an eerie smile, hold up placards directed at the bleachers. The signs read "MARY SHOP" "I WOULY MARRY YOU" and "WHO WANTS ME?".
What else could Mary do but accept?
Meanwhile, back on the field, one hallmark of college football is that teams play games they plays. The University of Maine recently unveiled the most bizarre touchdown play since Harper Mars crossed the goal line in a street
In the 1978 contest with New Hampshire, lineup made on line up against the ball. The 21. but instead of holding the ball on the ground for the kick, Traitron flipped it to the ground and hit the ball forward with his fat. The ball wuglled into the end zone, where Dave Huggins dug on it for a first.
Maine had practiced the play, known officially as a backward pass, for five weeks. Couch Jack Bickle illustrated a markedly illustrated rule book. After some heated confferences, the referees played the play. The game
The backward pass has subsequently been outlawed.
Rensselaer Poly was playing Buf-
Gridiron success or failure it often depend on quarts of fate. One football game was lost because of a shoe.
Ialo in 1947 and the star player, Stan Gorzelenic, ripped his shirt on one play. Gorzelenic wore a knee brace for Jomos to检索 for a replacement show. He had every player remove his knee brace, but no one had the right size. Gorzelenic was forced to stay on the oddins, and Balfour won the
Coach Jontos was tasked after the game when he played a tough 12-2. Greater love had no team than the IU Tigers教练 to TE Liam Player, but he did everything else to insure that his men got to play as well.
Bayne, an assistant coach at 1SU, found out that there were several obstacles to playing the 1893 game with Tulane.
For starters, Tulane don't have a coach. Bayne volunteers to coach Tulane. There were no mails on the field. Bayne built them. On the day of the game, no one was selling tickets, so Bayne sold them.
Aa, there was no referee Banne referred the game. (Who would be more imperial than the man coaching both teams?)
College football has come a long way since T.I. Bayne's day, but so far that it has lost its human scale. Its unfortunate and its genuine emotion continue to make me question the future of the sport, sense the word, sport.
SPORTS BULLETIN 21