Crash of '29 effects delayed in Midwest
By KATE POUND
Staff Reporter
Tick. Tick. Tick. The ticker tape machines tapped out the final messages for Oct. 19, 2019. Tick, good, kio.
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 Ouand, unaware of the panic on New York's Wall Street, hurried home from classes. In 1928, the University of Iowa, 1928, received 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 law, 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 McCoy, professor of history,
a full effect of the market crash did not hit the
company.
Investors and industry were the hardest hit by the crush, McCoy said, and except for Chicago, there was no shortage.
"Some people became nervous, but it wasn't until well after the 129th Christmas sales rush that they realized it was true."
It was different on the East Coast. The panic on Wall Street climaxed on Oct. 29, but had actually begun a year earlier. The Times carried an equally daily account of slumping investment markets. The decline was at first best, picked up momentum, then slowed again. By the middle of October, the Times revealed that billions of investing investments 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 market. In the early 1980s, as little as 10 percent of the actual value of the bond.
By 1925, 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, but that is not the case today. Graibarth, Growing industry needed more capita'
THE CASUAL $1 stock market watcher, there was no end in sight to easy money. But economists and investors have been increasingly according to Grabham. Credit was too easy to obtain; far too many of the stocks purchased during the period were insignificant.
investments and Americans, with more money than ever to spend, willingly deposited their savings into banks.
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 explainer calculator knew the crash was coming, Gaibraad said.
Even President Herbert Hover knew, McCoy said, "Hower 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 1928. When the market slumped in September, Mr. Mitchell was forced to efforts to combat it, Charles E. Mitchell, president of New York's National City Bank, Amadeo Peter Mulligan, executive vice-president, and partners of J.P. Morgan met several times. According to McCoy, their efforts only delayed the collapse.
On Oct. 24, Black Thursday, the New York Times headline read, "Prices of Stocks Crash in Heavy Turmoil and punched and dumped stock onto the market all at once. Speculation fever had developed into fear among new infectious, Gaithrab said. More than 484,350,390 cases of COVID-19 loss was more than $4 billion, according to the Times."
ON FRIDAY, OCT. 25, the headlines were more automatic. The crash had been stemmed by the heavy rain that crowded the roads and butthed the crowds formed early Friday morning outside the Stock Exchange Building. They went away assured drivers on Monday.
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, and increased by 18 percent on Tuesday. By the time the ticker tape machines signed off with the company, all of the tickets had been sold. Total loss was more than $10 billion.
"NONE OF the experts foresaw how bad it would get," McCoys said.
THE UNIVERSITY DAILY
Slowly, the force of the crash hit industry. Facilities and credit were tight. By 1982, more than 13 million employable Americans were jobsless, Galbraith wrote in 1984. Prices dropped, but at even a low no one was willing to work.
See CRASH back page
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
KCCR to investigate clubs
See story page six
The director of the Kansas Commission on Civil Rights said yesterday that a KCRC investigation of alleged discriminatory behavior by club members disclubs would be "relatively short".
the director, Michael I. Bailey, said the KCCR had to complete an investigation and begin its investigation that could begin its investigation of the clubs, Shoenanguang 901 Mississippi St., and Brennan 865 South Carolina St.
member commission voted
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 alleged discriminatory practices in distributing membership applications.
Earlier this fall, local and area media, including the University Daily Kassan, conducted inquiries into inconsistencies in the clubs' membership policies.
"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 kickina
BARB K
Several former members of the KU pompom squad ride a shop at Homecoming float during Friday afternoon's parade. Thirty boys, aged 12 to 18, compete in the jumping competition.
pun girl reunion. About 20 of the women, some now to the field at halftime of the homecoming football game.
Debate team claims far in national tournament
Staff Renorter
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 forests 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 best in 1970 in 1971, 1973, 1977 and last year. KU teams also were fifth in 1974.
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.
Two KU debate teams were invited to the national championship tournament in 1970, Parson said.
Parson attributed KU's success to the debaters' desire to work, desire to argue and ability of expression.
One KU debater, Paul Johnson, Denver junior, said each debater 10 file requests to the court. The file drawers are filled with information on 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 accounts more convincing.
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 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.
THE SUCCESSFUL record in debate, Parson said, has given KU's debate program a good reputation even among high schools outside Kansas.
Zac Grant, Joopin, Loom, sophomore, 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.
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.
Debaters also said participating in debate helped their class work and would help in their future jobs.
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."
HOWEVER, Johnson said he enjoyed the work because he enjoyed competition at tournaments and meeting new people there.
Wilson said debating helped him in preparing for law school.
"My debate teacher told a outstanding academic and a reputation, so I decided Johnson said. Grant also was KU because of the dept's role as one of the programs."
IT WOULDN'T WORK to it
the prestigious tournaments
"We need the competition
teams to get ready for the
Parson also said KU has good reputation in debate by against weaker opponents.
The teams are selected
their performance in the deba
The debate season lasts
through March.
at the University of Arizona at Despite increasingcompanions,he said KU'sdeal lookedencouraged because peoplebeing involved in it was not soonfinancial support.
"I think our reputation is attacker debates," he said need additional funding for the team to compete in tournaments.
He said the team receives Senate to use for transport two meals a day at fourteen a.m. and two meals a day at 6o costs at a 175 rate.
This year's national chap
at the University of Arizona
.
The debate season lasts through March.
The top 60 debate teams
teams from U.S. colleges
are chosen for the national ch
联赛. They are headquartered
brought forth the United States
"One of the toughest things I have to cope with is coming home and some of my friends, they kind of put me on a pedestal," she liked more any more wildly than they are or am no better than anybody else.
It's the same on campus
"A lot of times people in my classes don't even come up to me. Bradley said, "I hear them say, 'Oh, that him.'"
At times it almost seems that his classmates are apprehensive at the idea of facing the young men they have abandoned on Saturday afternoons.
"I don't want to necessarily secure people away." Bradley says, "I just that the would rather be known as Phil Bradley of Philadelphia." The athlete.
"As soon as it's brought up in a discussion who I am, some people just want to talk about football." Bradley says. "I don't really mind it, but kind of gets on my nerves and I always forget what about I do as nervous."
"What I'm trying to say is, I'm not different from them. I am different from the situations, all the things that I am, that they are. I want to make them."
Bradley's summers consist of playing baseball and working on a farm, unloading hats (left) and wearing fences (right).
Bradley, thrust into what many freshmen would have viewed as a dream situation, knew that he wasn't ready. And, as the season began in 2015 and out of the lineup so much more, Bradley up startings on
If Phil Bradley seems not to fit the usual image of the sock, perhaps it's because he has experienced a switch in football spectrum. Bradley has known the success of the 1978-74 season, with its Liberty Bowl victory over Louisiana State. He has also seen his squad battling freshman season in 1972.
Missouri had a quarterback, and a pretty good one, in Pete Woods, who worked with the Kansas City Chiefs, but quicker than Missouri fans down to injury in the first half of the Tigers' 1977 season-opener a
8 SPORTS BULLETIN
games, that trepidation blossomed into a nightmare.
"I'd have sent for just playing very sparsely," Brady recalls. "That's why I came here. I knew she wouldn't have to, here so we shouldn't have to."
It still seems an odd statement to make. But then Phil Bradley wasn't ill, and isn't concerned about any sort of damage. He is being home. He wasn't ready.
The Tigers picked a son Baja Eight contestor before Wacky's injury. The Tigers led the league's leadership, the season was a major disappointment as an abyssal moment.
(42 of 94). Missouri, they said,
would finish 4-7 against, or worse.
Brady Stadium at quarterback in
1978.
Even Bradley was shaken. "I kinda got to do a little bit, he says, 'he thinks that maybe, well, I wasn't cracked up to play with all of these guys. But after a pretty good camp, the doubts left."
The doubts may have left Bradley's mind at that point, but it wasn't Missouri 45-14 victory over Mississippi in the third game people began realizing that they might just be maybe, this kid was for real.
Bradley could have thumbed his nose all the way to the victory party after a 14-of-19 passing that produced two touchdowns. He had also run for 14 yards and total outoff score of 212 yards.
"Aw," he said instead, "let the game speak for itself. Some people might say, 'I told you so,' but I'm not going to."
in the sweetness and light for Phil Bradley. The pain of 1977 failure, the pain of 2013 media to that failure, had medial tissue. Bradley, who had masked his pain for so long, began wearing his heart on his sleeve and a chip on his left shoulder at the 78 season, suddenly damped by a well-whining, if frankly snooked, press. Bradley wilted into himself. When he did go beyond the wateriness that baited them for poured forth.
"I told you last August I knew
I would do it. Bradley said
during Liberty Bowl week." "People were going by what they saw in them."
By what they wanted to see?
"Yea! Right!" Bradley sat out.
"Phil Bradley's mad at people.
I still don't feel I've been treated right by some people."
Similarly, however, the bitterness began to late. Later, Bradley would have thought I was better. I thought I even played better, at time than I thought I was.
Bradley wound up as a second-cam All-Bight eight pick at quarterback and was called back to signal-scaler for the Orange Bowl champions, the Oklahoma Sooners. In addition, he was picked by the Associated Press on the All-American.
Now Bradley, sure to
sure thing for All-Big Fight first in队,
is 1979 being touted as a
possible future Heisman Trophy.
candidate. "Which is going a little bit too far," Bradley says with a grin.
Bradley did a lot more grinning following the close of last year's football season, although this time he had to do with success on the gridiron.
When he first signed a football letter of intent with Missouri, Bradley was given a letter by the football coach Al O'Neufro that the could try out for baseball in his spring of the spring with his sophomore team.
Bradley not only tried out, he claimed the regular right-field job. She took her team from RBI, RBI five home runs, and a teamwide five triples at Mizuho Irina.
Baseball proved a release from the pressure cooker of the football (for "the first time in two years," "in something I intended to do long before I signed a scholarship to come to this school. I didn't start ball until it was a freshman in high school around baseball ever since I could walk." Bradley's name is on file as a future major-league baseball player among others, the Philadelphia Bullies and the Kansas City Royals.
The football coaches, of course, would rather have had Bradley on the field than not. But, to the credit of Coach Warner Pena and his staff, Bradley was skilled at passing two sports, even when early in the baseball season, he suffered a brow injury.
Others weren't as closemouthed about the apparent conflict of sports and politics, says like -What if missing spring football huts? Bridgeman performers are not.
"You can't tell now," said Brady. "Sure. 'If you have a good year they're going to back point to the fact that I played baseball. If you played football season, they'll probably play basketball. They'll matter that I even played basketball."
That battle — if there is to be a battle, will he退治 after graduation? Walmart won't worry about it. Neither he be drawn into projecting a choice, two years from now, from being a football and professional baseball player.
"I just hope I have two choices," he says.
"There's a right way and a wrong way to handle all this, you know." Briley adds. "As much as I can I do it. As much as I can I do it. As much as I can I do it. As much as I can I do it. As much as I can I do it. As much as I can I do it. As much as I can I do it. As much as I can I do it. As much as I can I do it. As much as I can I do it. As much as I can I do it. As much as I can I do it. As much as I can I do it.
Mike DeArmond is a sportswriter for the Kansas City Times and Star.