Crash of '29 effects delayed in Midwest
By KATE POUND
Staff Reporter
Tick. Tick. Tick. The ticker tape machines tapped
mails messages for Oct. 19, 2019. Tick, good.
Tick, tick. Tick.
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 1928, she 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
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 the city."
According to Donald McCoy, professor of history, a fall effect of the market crash did not hit the Dow Jones index.
Investors and industry were the hardest hit by the crush, McCoy said, and even for Chicago, there was no hope.
"Some people became nervous, but it wasn't until well after the 1920 Christmas sales ruck that any of us bothered to watch."
It was different on the East Coast. The panic on Wall Street climaxed on Oct. 29, but had actually begun Sept. 1. The New York Times carried an article in which Mr. Trump said the decline was slow at first, picked up momentum, then slowed again. By the middle of October, the Times carried optimistic articles, encouraging investments in companies.
The 1926 HAD been boom years on the market; speculation became easy, a quick way to make money. Middle income earners bought stocks on the margin that is, on a system of credit, often paying as usual.
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, reducing the need for workers. Gabralrath. Growing industries needed more capita'
TO THE CASUAL stock market watcher, there was no end in sight to easy money and economists and investors. While companies according to Galtbrahter, Credit was too easy to obtain; far too many of the stocks purchased during the recession were not so well known according to Galtbrahter.
investments and Americans, with more money than ever to spend, willingly deposited their savings into
Fortunes were being made of paper. Emebelzers, knowing that speculation fire made people reckless, said phony stocks or stocks they didn't own. The speculator calculated the crash was coming, Grabhain said.
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 get the country together on a policy." McCoy said.
RUNNING ALMOST pill-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 Giannini, president of the Bank of America and John M. Morgan met several times. According to McCoy, 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 Billion’s. Stockholders have been left with no money at once. Speculation fever had developed into fear and fear was infections, Galbraith said. More than $1 billion was lost, and less was more than $4 billion, according to the Times.”
ON FRIDAY, OCT. 28, the headlines were more optimistic. The crash had been timed, the Times reported, but crowds formed early Friday morning outside the Stock Exchange Building. They went away assured that the damage was minor.
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 brake, then surged into a frantic, unstoppable frenzy. As the ticker ticked, the time the ticker tape machines signed off with the loss exceeded $10 million had been sold. Total loss was more than $10 billion.
Wall Street stood silent, a massive, hushed ruin.
"NONE OF THE experts foresaw how bad it would get." McCov said.
Slowly, the force of the crash hit industry. Factories began to close workers who had worked for 18 million employable Americans were jobsless, Galbrath wrote in 1904. Prices dropped, but even at new lows no one
The plight of Midwestern farmers added to the economic woes. At the beginning, overproduction
KANSAN
The University of Kansas—Lawrence, Kansas
free on campus
Vol. 90, No.46
10 cents off 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 clubs would be "relatively shorty."
The director, Michael L. Bailey, said the KCCR had to complete an investigation of the shooting and could begin its investigation of the clubs, Shenanigans, 901 Mississippi St., and Shamrock St. (375) 642-4800.
The seven-member commission voted unanimously Thursday night to conduct the
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 wa- based on information obtained from news media reports of alleged discriminatory practice, distributing membership application
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
"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
road. John. Shannon, manager
Still kicking
Several former members of the KU pump squonk ride atop a Homecoming float during Friday afternoon's parade. Thirty members took part in the fun.
B ARB
pon girl reunion. About 20 of the women, some no
to the field at halfmile of the Homecoming booth
of the homecoming booth.
Debate team claims far in national tournament
By HAROLD CAMPBELL
Staff Reporter
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 forensics and head debate coach, of the university.
"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, and 1974. KU also were also fifth 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.
"It takes a lot to be a debater," he said.
"It is not easy."
One KU debater, Paul Johnson, Denver junior, said each debater 10 file his works. The file the drawers are filled with information on subjects taken from magazines, books or newspapers.
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-going 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 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, Joplin, Mo., sophomore, 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.
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.
THE SUCCESSFUL record in debate, Parson said, has given KU's debate program a good reputation even among high schools outside Kansas.
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, 'outstanding academic and reputation, so I decided Johnson said. Grant also is because of the reputation as one of the programs."
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.
Wilson said debating helped him in preparing for law school.
"IT WOULDN'T WORK
less prestigious培训
team to deal with"
"We need the competi-
teams to team up for the
Parson also said KU ha good reputation in debate by against weaker opponents.
This year's national char- at the University of Arizona in Tucson, he said sen- naments, he said KU's dee- looked encouraged because people being involved with UA not so financial support
The top 60 debate teams teams from U. colleges are chosen for the national college debate throughout the United States
relationship between students' behavior and the type of seating associated with their role as associate athletic director Matee Urick. "But If be blind I will if I completely accept that. Open seating at atmosphere around the gate."
"I think our reputation attracts defenders," he says need additional funding to compete with tournament."
The teams are selected their performance in the det The debate season last through March.
Lines for an Iowa State home game last fall began forming on the Monday before the Saturday of the game. Students pitched tents, dug holes and baked spies spelled each other in hopes of gaining excellent seats. Besides the pushing at the gate, problems developed within the stadium itself when students tried to save large numbers of choice seats for their friends.
He said the team receive
Senate to use for transport
two meals a day at a tour
station and costs at a 1973 level.
However, strong student support for both policies has gotten the State a clear message. The State, with about one-third of the seats to remain general-admission, is one of the best states.
Student reaction to the new plan is varied.
"I think it's an excellent plan," I says interfacility council press briefing on the policy changeover. "It gives an opportunity to the student who doesn't want to be a student and to the student who doesn't want to have assistance in standing up."
All of the Big Eight's school employs a lottery system in which that has been given a new number that has been determined. But three conference schools—Kansas, Colorado and Oklahoma—have their student's year in school. Graduate students and seniors, for instance, have named their places in a draw.
Oklahoma's system ranks Iowa's gate state in the fall. In the fall tickets are first-floor, first-care, first-served basis, beginning with seniors. Many students attend the priority list) camp for days outside the site of the drawing in Oklahoma.
"We always run out of the tanks on the first day, we get to the second day," John Terry said. "I'd be more happy if we sold them in the spring, but it was tough."
Another school that recently changed its policy is Kansas State. K-State used to have both open access and a subscription, but an all-reserved system has fall
"We had a tough situation in that game," says business manager Conrad Colbert. "There were many students who brought general-admission tickets and then walked in and took the public's seats. But with the reserved system, we'll have enough seats in designated areas."
Perhaps the most elaborate student ticket policy belongs to Oklahoma State OSU uses a ticket system. Students in a student may exchange the reserved seat he has one week for a different seat the next week. Or he may keep
A student may have a goal-line one week, or 50 yard-line another. Manager Hina Houston. "It works well for the students, and it's a good skill."
Missouri also offers an interesting alternative. While some 95 percent of MU students go to the games, through a group-sitting system, some 60 percent are some 10,000 general-admission seats on what is called "The Hill."
Tickets for places on this grassy slope overlooking the north end of Zone FAUO Field are sold to those who register at the reserved seats have sold out.
George Hough, Miraz's店 manager, believes MIU offers its students a better deal than other schools. "We have the whole east side of the stadium plus the new south end zone stands. That's pretty darn good sitting. But then, we wouldn't beating it if we did not have the students."
Ticket sales at most of the B i Eight schools are either holdin stead or increasing Iowa state frank explains why: "Big Egf youth football, advantageous seating, an a break in price. As a result, the turn out in number numbers." All of the Big Egf eight schools offer discount on season tickets for students and parents. The offers, students' student discount for
Following is a list of each school, the number of tickets allotted to its students, the season-ticket prices, and the school's policy on the school's seating policy. (Most
KANSAS: 8,500-11,000 tickets for $23 each. All reserved; seniority system.
KANSAS STATE: 7,000 tickets for $20 each. All reserved
COLORADO: 9,500 tickets for
$3 each. About 7,500 reserved,
2,000 general-admission.
schools try to adjust the number of student tickets to meet demand
IOWA STATE: About 13,000 people at $18 each for general admission and $20 for reserved general admission. 8,400 rented.
MISSOURI 1: Approximately
16,000 received tickets at $30 each
10,000 general-admission tickets at
$25 each
General-admission public session is sold out
NEBRASKA: 16,500-18,500 bickets at $25 each. All reserved.
$12 each. All reserved.
OKLAHOMA 18,000 tickets at
$17 each. All reserved.
seniority
system.
OKLAHOMA STATE 14-749-
plus tickets to $20.80 each.
All reserved; required (student)
may change swats game!
Dave Reynolds is a sportswriter for the Ames Daily Tribune.
THE INTRICATE ART OF SCHEDULING
The perfect schedule wins games, money, and fan support. For most teams, it's an elusive dream.
BY LARRY BORTSTEIN
Editors' Note: Patting together a football schedule is a tough assignment. If the team plays plays, will the fans be happy or joyful, and can they celebrate a national victory in the arm at a sure ticket to a demoralizing season? And how can you predict these things when making a schedule for 10 years in high school? Big eight strategies differ.
HE Big Eight is considered by many to be the strongest team in the nation. It is certainly one of the most prestigious. Although Oklahoma and Nebraska have won four Gators, the past two decades, virtually every game involving a Big Eight school gets more of its fair share
Schools in the conference play one another every season, which accounts for seven games of the
- The opponent is a weak sister.
*Either the financial arrangement assures the school of a good guarantee (on the road), or else it pays its applicant a large guarantee.
traditional 11-game schedule for each one. Year A big Eight team will play at home and four on the road, the following year it will play four at home and four on the road.
*The match up promises to draw a good turnout at home (or, on the road, will bring in loyal out-of-state alumni)
With seven of their schools annual II games taken care of, the athletic directors begin the challenging season by learning about the non conference games. Every member of the conference has a different philosophy regarding what it means to be an athlete. A survey of Big Eight athletic directors and schedule makers indicates that they choose noneague or more of the following reason.
and there's a good chance of a win to keep fans happy and coaches employed.
- The opponent is strong enough to provide a full test of strength, adding to the Big Eight team's stature as a national contender.
The "haven" is Okahoma, NaHo-
mane and Colorado. This quai-
tion requires the bar of request from other schools who want to play a Big Eight
The "have-nots" are Kansas State, Iowa State, and Oklahoma State. The latter two have attended football at both Kansas schools has been in decline for some time. These teams must make financial arrangements that aren't already so generated by the top four.
SPORTS BULLETIN 19