Crash of '29 effects delayed in Midwest
By KATE POUND
Staff Reporter
Tick. Tick. Tick. The ticker tape machines tapped out their final messages for Oct. 19, 2020. Tick. good, 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 at Mount Oread, unaware of the panic on campus, hurried home from class. Headlines of the feverish news on Tuesday, 28, 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 the assault occurred.
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 them," she said. That was one for the rich in the East, "McNeal's."
According to Donald McCoy, professor of history,
the full effect of the market crash did not hit the Midwest.
The report said.
Investors and industry were the hardest hit by the crash, McCupid and, except for Chicago, there was little involvement.
"Some people became nervous, but it was not until well after the 1920s Christmas sales that any real change took place."
It was different on the East Coast. The panic on Wall Street climaxed on Oct. 29, but had actually been preceded by a strong decline in 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投资和 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, which is now about as 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 industrials 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 increasingly buying food from Gabrathra, Growth industries needed more capita*
investments and Americans, with more money than ever to spend, willingly deposited their savings into the bank.
TO THE CASIAL stock market watcher, there was no end in sight to easy money purchases andrusts, but as a result saw trouble as early as 2002 according to Galbraith. Credit was too easy to obtain; far too many of the stocks purchased during the period were highly risky.
Fortunes were being made of paper, Emebezzerz, knowing that speculation fever made people reckless, sold phony stocks or stocks they didn't own. The speculator exploded the crash was coming, Grubath said.
Even President Herbert Hover knew, McCoys 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," McCoys 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 Morgan.net 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 Haavy Liquidation, Total Drop of Billions.” Stockholders had been warned at once. Speculation fever had developed into fear that was infectious, Gailbrath said. More than 484,000 dollars were 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 sudden surge in crowds formed early Friday outside the Stock Exchange Building. They went away assuredly on Thursday.
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, hushed ruin.
Tuesday morning, Oct. 29, was different. Selling became brisk, then surged into a frantic, unstoppable斗时 run according to the Times. By the time the ticker tape machines signed off with their traditional good night, 16,383,700 shares of stock had been sold. Total loss was more than $1 billion.
THE UNIVERSITY DAILY
"NONE OF the exports foresaw how bad it would get," McCoy said.
the pump or an awkward tarmers aided to the
normal work of seeding, overproduction
for CEE registration. *SEE CHRIS*
Slowly, the force of the crash hit industry. Factor 1 was the high number of workers and credit were tight. By 1922, more than 19 million employable Americans were jobsless, Galbraith wrote in 1924. Prices dropped, but even at low noews one factor was rising.
KANSAN
The University of Kansas—Lawrence, Kansas
10 cents off campus
Vol.90, No.46
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 behavior at disc clubs would be "relatively short."
The director, Michael I. Bailey, said the KCCR had to complete an investigation into the alleged theft of equipment that could begin its investigation of the clubs, Shemaniagan 901 West Illinois St., and Cahoon 852 East Michigan St.
the commission can vote to enter a complaint on its own behalf or conduct an investigation without one. Bailey said.
The seven-member commission voted unanimously Thursday night to conduct the investigation. Although the commission
He said the commission's decision was based on information obtained from news media reports of allegedly discriminatory practices distributing membership application forms.
Earlier this fall, local and area media, including the University Daryl 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.
Still kicking
Several former members of the KU pumpson squad ride alape at Homecoming float during Friday afternoon's parade. Thirty-nine were there in 2014 and 2015, according to reports.
pot girl reunion. About 30 of the women, some no to the field at halftime or the Homecoming footwear, were also unaccounted.
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, UD director of l宾务 and best coach duck, of KU.
"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. The teams also were both finals in 1972, 1974 and 1978.
One KU debater, Paul Johnson, Denver junior, said each debater keep 10 file copies of his work. The file drawers are filled with information on subjects taken from magazines, books or websites.
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.
Two KU debate teams were invited to the national championship tournament in 1970, Parson said.
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.
"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.
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 also said he went to about 10 debate tournaments a year. That, he said, often made him absent from Friday and Monday classes.
THE SUCCESSFUL record in debate, Parson said, has given KU's debate program a good reputation even among high schools outside Kansas.
He said he spent about 20 hours a week outside of classes doing research for debates.
"You try to make your schedule so you don't have classes on Monday, Wednesday and Friday," he said.
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.
Zac Grant, Joplin, M. sophomore, said research required in debating helped him to organize his thoughts and write better papers for classes.
Wilson said debating helped him in preparing for law school.
HOWEY, 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.
"My debate teacher told,
outstanding academic and
reputation, so I decided
Johnson said. Grant also is
KU because of the c
because one of our pro-
grams.
Parson also said KU he good reputation in debate by against weaker opponents.
*IT WOULDN'T WORK*
to compete against low score in
competition against quite a
'we need the competitor'
teams to get ready for the
match.
This year's national card at the University of Arizona has included narrations, he said KU's data looked encouraged because people being involved in research was not so financial support.
"I think our reputation attract defenders," he said need additional funding it continues to compete in tournaments.
The top 60 debate teams teams from U.S. colleges are chosen for the national a committee of debate throughout the United States. The teams are selected three times a season. The debate season last March.
He said the team receive Senate to use for transport two meals a day at tauroma costs at 1973 price costs at a 1973 price
if you were COACH
It's make-it-or-break-it time out on the field, and the team anxiously awaits your decision. Test your coaching skill in these situations, taken from real college games of the recent past. After you make your choice, check out ■ ■ what actually happened
BY BILL KAUFFMAN
It's early in the fourth quarter. You're losing 14-11 to your bitterest team. You have the ball four down, but you're up against the nation's best goal defense. In the game, you held you on a first and goal from the foul. However, a tie would still be decided by a bowl game. Decisions, decisions.
And here's what happened . . .
19th in Michigan Bo Schemers, who had the nearly annual battle for a Rose Bowl bid. Schember elected to go for the TD on the ground with Mike Schwartz, the snake. He was stopped by Bucke Randy Gradsharif. Ohio State won the Hail and earn the coveted bowl bid.
We will give you a little
more breathing room
(for the upward)
(injury) to this-pur-
not-mot-to-call-cap.
They are faced with a fourth
and four at midnight.
ponent scoreless since the first half -but they can be explosive!
And here's what happened
And here's what happened . . .
Darrell Royal brought his Texas pumper in, and he dummed a beautiful ball. But the Troopers never let the Long-horns touch the football, holding it for the full eight minute and a 10-6 win. Royal later said that if he'd known they wouldn't get the ball on fourth and four — even a quarter-back sneak. What hindsight!
Are you a gambler? With the score tied 13-1, less than two quarter and the ball on your side here's your choice: a reverse, daring but sure to surprise the defense, or a middle in the hope of a breakaway.
And here's what happened . . .
With a 1956 Missouri-Kansas
game supplying the backdrop, jay hacks couch Chuck Matter decided to roll the dice and the carve. Kama quarterback Wally Tollman ran the ball into Robinson,Robinson,outside defense tackle Chuck Meckle read the midsection and dumped Robinson in the end zone for a two-point safety and a 15-13 win. Matter thundered the ball was on the 9.
continued on page 16
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