Crash of '29 effects delayed in Midwest
Bv KATE POUND
Staff Reporter
Tick, Tick, Tick. The ticker tape machines tapped out their final messages for Oct. 19, 2019. Tick, good.
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 Oread, unaware of the panic on New York's Wall Street, hurried home from classes. In May 1929, the state issued a normal day on campus. The big news was an accusation made by the Iowa State University football coach that KU played its players. Iowa State
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 stock market. That was only for the rich in America."
According to Donald Ncoy, professor of history, the effect on the market crashed did not hit the Midwest. He said:
Investors and industry were the hardest hit by the McCain, McCoy outages, and except for Chicago, there was no problem.
"Some people became nervous, but it wasn't until well after the 1929 Christmas sales rush that any of us got into the habit."
It was different on the East Coast. The panic on Wall Street climaxed on Oct. 29, but had actually been triggered by a fall in stock prices 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 reported that investors were investing investments and predicting a boom year in 1930.
THE 1920s HAD been boon years on the market; speculation became easy, a quick way to make money. Middle income earners bought stocks on the market, and they saw little change in the 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 are 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, raising the price of food and consumer goods. Galbrath. Growing industries needed more capita'
TO THE CASUAL stock market watcher, there was no end in sight to easy access to financial services. I found it trouble to easily ascend according to Galbraith. Credit was too easy to obtain; far too many of the stocks purchased during the pandemic were held up by banks.
investments and Americans, with more money than ever to spend, willingly deposited their savings into banks.
Even President Herbert Hoover 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 be the country together on a policy." McCoy said.
Fortunes were being made of paper. Emebelzers, knowing that speculation fever made people reckless, sold phony stocks or stocks they didn't own. The explorer's calculator knew the crash was coming, Galbrath said.
RUNNING ALMOST pell-mell, 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, Amadeo Peter Giannim, president of the Bank of America and Andrew F. Morgan met several times. According to McOy, 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 left without liquidity after the loss at once. Speculation fever had developed into fear and fear was infectious, Galbraith said. More than a million shares of Gold was more than $4 billion, according to the Times.
ON FRIDAY, OCT. 25, the headlines were more optimistic. The crash had been stemmed, the Times reported, by a surge in vaccine crowds formed early Friday outside the Stock Exchange Bathing. They went away assured the authorities.
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.
Wall Street stood silent, a massive, bushed ruin.
Tuesday morning, Oct. 29, was different. Selling in the store surged into a frank, unstopable, downhill run. The time the ticker tape machines signed off with the time the tickers had signed off had been sold. Total loss was more than $10 billion.
THE UNIVERSITY DAILY
"NONE OF THE experts foresaw how bad it would get." McCov said.
Slowly, the force of the crash hit industry. Factors that caused it to close included creep and crack. By 1932, more than 15 million employable Americans were jobless, Gallbrath wrote in 1944. Prices dropped, but even at new lows no one was able to afford them.
The plight of Midwestern farmers added to the economic woes. At the beginning, overproduction
KANSAN
The University of Kansas—Lawrence, Kansas
free on campus
10 cents off campus
Vol. 90, No. 46
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 RCCR investigation of alleged discriminatory practices against clubs would be "relatively shorty."
The director, Michael L. Bailey, said the KCUR had to complete an investigation and conclude that it could begin its investigation of the clubs, Sheenagams, 901 Illinois St., and St. Louis, 801 Kentucky St.
The seven-member commission voted unanimously Thursday night to conduct the investigation. Although the commission
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 w
based on information obtained from news
media reports of alleged discriminatory
distributing membership application forms.
Earlier this fall, local and area media, including the University Daily Kansan, conducted inquiries into inconsistencies in the clubs' membership policies.
Bailey said a civil rights specialist would obtain membership rolls and any other
"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
Several former members of the KU pompom squad ride alope a Homecoming float during Friday afternoon's parade. Thirty people participated in the event.
pon girl reunion. About 20 of the women, some no to the field at haltamom of the Homecoming football game.
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, RD director of faculties and head debate coach,
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, 1973. KU teams also were both KU teams also were both in 1972, 1974 and 1978.
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.
Two KU debate teams were invited to the national championship tournament in 1970, Parson said.
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, Deneve,
Nierer, said each debater kept 10 file
sheets in the drawers. The file the drawers are filled with information
an subjects taken from magazines, books or
journals.
"It takes a lot to be a debater," he said.
"It is not easy."
He said, 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.
He said a number of the cards were quotes from different authors.
KEVIN WILSON, Austin, Texas, senior, said the research involved in debate was like an "on-giving term paper."
"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."
He also said he went to about 10 debate tournaments a year. That, he said, often made him absent from Friday and Monday classes.
He said he spent about 20 hours a week outside of classes doing research for debates.
Zac Grant, Jolin, M. sophomore, said research required in debating helped him to organize his thoughts and write better papers for classes.
Debaters also said participating in debate helped their class work and would help in their future jobs.
HOWEVER, Johnson said he enjoyed the work because he enjoyed competition at tournaments and meeting new people there.
"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.
Wilson said debating helped him in preparing for law school,
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."
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.
"My debate teacher told outstanding academic竞 reputation, so I decided Johnson said. Grunt also caused the reputation as one of the programs.
The top 60 debate teams
teams from U.S. colleges
are chosen for the national
all-star game throughout
throughout the United State
*IT WOULDN'T WORK*
compete against quality it
*we need the competitive
teams to get ready for the
Parson also said KU had good reputation in debate by against weaker opponents.
Despite increasing com-
ference with other people, he
looked encouraged because
people becoming involved
but he said he was not goo-
d at it.
The teams are selected their performance in the det. The debate season last through March.
"I think our reputation attracters detract," he sai need additional funding to commit to tournaments.
This year's national char at the University of Arizona
He said the team receive
Senate to use for transport
two meals a day at tourn-
ing cost at 175 levels
at a 175 level.
"We play in the smallest stadium and the Big Eight," says Corradi. "We also have a manager of athletes, whose duties include arranging future schedules." "We generally would have no problem if we wanted to play, but if we want to play an attractive team from another conference, often well have to go to their stadium."
Money may be the most important factor in scheduling. A Big Eight team can expect a minimum on-base salary of $100,000 per game. When it takes on an outside team at home, it generally offers the opponent full saturn of $75,000 or more, or a salary of $125,000 or more expenses have been taken out. A game between two Big Eight schools guarantees the team a maximum of $175,000, an amount which is just enough for new capacity at different schools.
In some cases, a nonleague opponent wants to step up in class to meet a Big Eight team. The two teams are often placed in a location whereby the opponent will visit the Big Eight team, collect a sizable guarantee, and then either return to its own level or use the as a springboard into the big time.
Any nonleague team playing Nebraska in Lincoln, for example, would be financially, it not in the victory column, but has the largest stadium in the Big Eight, several expansions since 1972 and has the capacity to more than 76,000.
What's more, the people who correspond to Corwinshir fortune are followers in the land. The Corwinshir's first game of 1979 was at home.
Nebraska's 100th sellout crowd in a row and an NCAA record.
Nebraska's opponent that day, Utah State, wouldn't appear to be in a competitive class with the Baylor and Nebraska's former head coach and now its athletic director, pointed out. "They want to play us and we need them to do it."
Devaney explains Nebraska's non-league schedule for the rest of the season, and then the neighboring state, and it'll be a game that a lot of our fans will be able to drive up to see. "Penn State, one of the national powers, like one of the players to play. A real test for our team before we play our league schedule." Heavier Staples at home. "Again, we play in the league to play us for a long time, maybe stepping out of its class, but an interesting game for us that will work."
20 SPORTS BULLETIN
It's atypical that Nebraska is playing three of its four nonleague teams, including Colorado is also playing three of its outside opponents at Folsom.
Meanwhile, Oklahoma has a team all its own. It only needs to win 4-1 and be played at least a per season, for many years the Senators have played Texas of their own. The Cowboys have the Cotton Bowl. The game is often watched by a national television network.
and Texas in football is one of the fiercest rivalries anywhere in sports."
"We certainly have to treat that game with the same importance as a basketball game," Farris, associate athletic director and business manager at Oakland High School, said. "He adds, 'National ranking, a bask game, recruiting, and so on.'"
Though another Big Fight representative scouts at Iowa State's Nassau College, they didn't get to be 8-3 by playing Notre Dame's McCullough, it was our main games are the Big Fight championship for the Big Fight championship every year. When you are in a league where you have to look at it, the way you have to look at it.
At Iowa State, athletic director Lou McCullough uses a different approach "We try to schedule our four nonleague games with the idea that we can win three of them," he says. "There's no need to outcompete our coach a schedule he can't walk in. That doesn't help anybody."
Marcum's dermatology is not uncom-
mon. It's a difficulty every athletic
director faces when the mastery of
the skin permits more than 10 years ahead of it.
ANNAN athlete director, Bob Hutchorn; also sub-supervisory coach for practice of trying to line up at three non-game clubs that the team plays.
"But that backfire on us last season," recalls Marum "When we originally scheduled TAA&M at the end of this year, for last year, they were all in down periods. Well, we lost to all three of them last year. The other nonleague game was against UCLA. And that game was against w loss too. But that one won we."
"This does create a problem," says Eddie Crouch, athletic director of the university's golf team. "Won't you wasn't always this way, but this is such a competitive situation that I have to think about."
years ahead now. We have games booked into the 1990s already, although we have the exact playing date in every case."
As a result of the advance scheduling, says Marcau, Karnas has not been able to respond. "It's not something we can control, but we aware of it and we control."
Kansas State's Conrad L. Uwuwa was one of the problems a bus driver faced in the past, big population centers in the state, which cuts down on the number of students attending our stadiums and the smallness of our stadiums. It's tough for schools like us, but we are fortunate to have them.
While Kansas and Iowa State search for teams they can beat. Missouri uses its four no-huller teams in the annual run for the conference crown.
"You want to use your four non-conference games to get ready for the season," he said. The Heydowoff court at Miusi sufforts; "Meally you want to play one very good team somewhere with Faxas this year, and with Faxas this year. And it's good that they're the last non-league game we play before the league games."
If we placed them too early and got heat up, it might get our players off the rest of the nonleague games. Playing a strong team late help you prepare for them better. Your players should be ready and have played some games later.
One recent addition to the ranks of Big Right athletic directors, is Dr. Richard Young, who came to Oklahoma State last year after being a board member and director at Bowling Green College's Mid-American Conference.
“Olivivy, I had not hurt much to say about scheduling here but my philosophy is point out. Our twofold: At home, keep the fans happy by bringing in interesting stuff like a guitar, go路, where the alumni are. We have alumni all over the country, the West Coast, the West Coast, we are assured of having Oklahoma State alumni attending the game and roaring for it.
Also, we try to use our road games as a recruiting tool to let them know where we play and know that we play an interpersonal schedule ahead of repre-
If Dr. Young practice what he preaches, he may come up with the dream of all athletic directors - the perfect football schedule
Larry Borset, on the staff of the Denver Post, has written about sports for numerous publications.
ILLUSTRATION BY NEAL MCPHEETERS