Crash of '29 effects delayed in Midwest By KATE POUND Staff Reporter Tick. Tick. Tick. The ticker machine mapped out their final messages for Oct 29, 1929. Tick, good, 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. Hallway across the country, students and professors on Mount Oread, unaware of the panic on Wall Street. Street, hurried from classes. In 1928, 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 America." According to Donald McCoy, professor of history, a full effect of the market crash did not hit the market. Investors and industry were the hardest hit by the crash, McCoy said and, except for Chicago, there was little damage. "Some people became nervous, but it wasn't until well after the 1292 sales wars ruck that any of these changes made any difference." It was different on the East Coast. The panic on Wall Street climaxed on Oct. 29, but had actually begun in March. The storms carried enormous daily account of slumping stores, the decline was slow at first, picked up momentum, then slowed again. By the mid of October, the Times published an aggressive 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 margin, that is, on a system of dividends paying as much as the stock price. 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, and that meant a redefinition of the capitalist Gaulbrath. Growing industries needed more capital! investments and Americans, with more money than ever to spend, willingly deposited their savings into banks. TO THE CASUAL stock market watcher, there was no end in sight to easy money. But economists and bankers also believe that according to Galbraith, credit was too easy to obtain; far too many of the stocks purchased during the Great Depression were not available. Fortunes were being made of paper. Embezzlers, knowing that spectacle fever made people reckless, sold phony stocks or stocks they didn't own. The experiment of spectacle knew the crash was coming. 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 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 Fazio, the Bank of America and partners of J.P. 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 Billions." Stockholders are now worried that the stock market at once. Speculation fever had developed into fear and fear was infectious, Galbraith said. More than a million shares were lost, and the loss was more than $4 billion, according to the Times. ON FRIDAY, OCT. 25, the headlines were more ominous. The team then stumbled upon a new condition and conditions but, But the crowds formed early Friday morning outside the Stock Exchange from here they went away assuredly. It was fairly Irradiated. 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 ticker tape machines signed off with their traditional good night, 18, 833, 700 shares of billowing total loss was more than $10 billion. Wall Street "NONE OF THE experts foresaw how bad it would get." McCov said. The plight of Midwestern farmers added to the economic woes. At the beginning, overproduction Slowly, the force of the crash hit industry. Facilities were destroyed and credit were tight. By 1982, more than 15 million employable Americans were jobsless, Galbraith wrote in 1984 that even dropped, but even at all low no one was employed. KANSAN free on campus 10 cents off campus The University of Kansas—Lawrence. Kansas Vol. 90, No. 46 Yankees fire Billy Martin See story page six Monday, October 29, 1979 KCCR to investigate clubs He said the commission's decision wnas 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. the commission can vote to enter a complaint on its own behalf or conduct an investigation without one. Bailey said. "But we de have subpoena power if it is needed " he said Bailey said he hoped the officials of the clubs would voluntarily give information requested by the investigator. "If it's relevant, the investigator might interview parties employed there or patrons of the clubs," he said. would a civil rights agency pilot would 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. The director of the Kansas Commission on Civil Rights said yesterday that a KCRC investigation of alleged discriminatory membership policies at two local disc club clubs was conducted. The director, Michael L. Bailey, said the KCU had to complete an investigation and could begin its investigation of the clubs, Shenanigans, 901. Missouri St., and Omaha, Neb. The seven-member commission voted Still kickina BARB KE Several former members of the KU pompom squad ride stop a Homecoming float during Friday afternoon's parade. Thirty people were evacuated from the building. pon girl reunion. About 29 of the women, some now to the field at ballet of the homecoming football game. Debate team claims far in national tournament Staff Reporter The KU debate team, it seems, has quietly become a national power during the past decade. By HAROLD CAMPBELL Among university debate teams nationwide, KU has one of the better debate programs in the nation, Donn Parson, KU and University heads and head debate coach, said last week. "The 1970s have been called the decade of KU" by other university debate teams because of KU's consistent success in debate." Parson said. 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. Parson said KU had won the national debate championship in 1970 and 1976, and KU teams had been third in 1970, 1971, 1973. The team also were fifth in 1972, 1974 and 1978. A TEAM CONSISTS of two persons, Parson said. He said there were 16 debate teams. One KU debater, Paul Johnson, Denver numer, said each debater kept 10 file sheets. The papers are filed with the file the drawers are filled with information on subjects taken from magazines, books or magazines. 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." 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. KEVIN WILSON, Austin, Texas, senior, said the research involved in debate was like an "on-going term paper." 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." 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. 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, Jolin, Mo., sophenae, said research required in debating helped him to organize his thoughts and write better papers for classes. 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. HOWEVER, Johnson said he enjoyed the work because he enjoyed competition at tournaments and meeting new people there. "My teacher taught me outstanding academic and reputation, so I decided Johnson said. Grant also said KU because of the defense as one of the programs. "You try to make your schedule so you don't have classes on Monday, Wednesday and Friday," he said. 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. "I think our reputation is attacker detractors," he said need additional funding from the league to compete tournaments. "WT WOLLDON WORK IS to compete against you" compete against you "We need the competition teams to get ready for the Parson also said KU had good reputation in debate by against weaker opponents. This year's national celebration at the University of Arizona is called UA's Scholarships for Nurturing Narratives, he said KU's debt looked encouraged because people becoming involved I was not so a lot of financial support. The top 60 debate teams are teams from U.S. colleges or are chosen for the national ch a committee of debate throughout the United States. The teams are selected by the college in the deba. The debate session lasts through March. He said the team receives Senate to use for transport two meals a day at tournaments and he team leaves 16 costs at a 179 cost. What Do You Think of Sports Bulletin? SATURDAY'S HERO We hope you enjoyed this issue of Sports Bulletin. To help us improve the next issue, we like your comments. Just fill in this card and drop it in the mail. Thanks School 1 How much time have you spent reading Sports Boots? Tmr ___ 30 min ___ 15 min ___ none 2 Do you intend to spend more time reading it? yes no 3 On a scale of 10 (10 being excellent, 1 being poor), how would you rate Sports Boots overall? Excellent 10 9 8 7 6 5 4 3 2 Class of ___ Sex ___ 4. Compared to other sports coverage your current read would you say that Sports Bolster is ___ more entertaining ___ as entertaining ___ less entertaining 5. If you are another issue of Sports Bulletin, will you want to read it? ___ yes ___ no 6. What did you like most about Sports Bulletin? 7. What did you like least about Sports Bulletin? man who each Saturday in the fall is showed in promouncement as the four senior age groups. Anomorytism is no loiterer at the 6-foot, 170-pound junior from Macomb Illinois can joyfully. His team has pitched for 1,780 yards, led the big NATIONAL STUDENT SPORTS OPINION POLL UDBS a pencil and glue part in a national poll of college students. Just check one answer for each card and mail in the card. Results will be announced in late fax. School 1. Do you think the Associated Press and link 1. Do you turn the Associated Press and United Press International football polls are a fair way to determine the national college football champions? 2. Which of the national college football champion be determined by a national playoff instead of by the podium? ___ y99 ___ no 3. The Inlines of some bowl games are determined by contracts with conferences (the flush Bowtie for the Oklahoma State vs. Texas A&M game). These are played as a two-player game and try to win the two highest-ranked teams available. Which method of selection, in our case, will result in the best outcome? ___ contracts ___ open ___ combination of both 4. ___ contracts ___ open ___ combination of both 4. Who do you think will win this year's Heisman Trophy? Charles White (USC) Mark Hermann (Purdue) Alexander Rodriguez Matt Kupiec (North Carolina) Phi梁晓英 (Missouri) John Goulden (UCF) Baby Sina (Oklahoma) Baby Sina (Oklahoma) Bill Hurley (Syracuse) Darren Nelson (Standard) Jamie Lainton (Texas) James Lainton (Texas) Other Under current rules, if a college basketball game is at the end of regulation time, the game enters an interruption. If a team loses or wins, it must play until it has played sufficient time to determine a winner and a loser in games. Do you agree or disagree with the rule? not with one of Mizzou's coeds. "I've got a girlfriend at home," quarterback. BY MIKE DeARMOND explains. "We write letters and : the telephone when she can't down for a weekend." Local watering holes do not ant on the all-star quarterback a customer. "I don't drink and I don't smoke, aday says. And besides, I'm ly2. You not supposed to be in six kinds of places. "Once in a blue moon you and me at Dea VaTu Columbia night spot), but not very often. I can't just at most my conti- ness." Bradley's main diversion is watching television, which demands no more than the energy of a video game. But that, however, is held to a minimum. I ensure time is short for young man who plays football in e-fall, baseball in the spring, and golf in grade-point-average in business. "I hate school," Bradley says. "If you gonna go to college you might as well do the best you can. It will help me down the road I am going to build this, but I'm doing all right." 26 academic hours last year." Summers back in Macomb, Illi- nia, offers a nice break. Brooklyn niss, offer no relief. Bradley works a farm all morning, spends a short hours at home, then College League, a circuit promising baseball players run h the help of major league base but if he resests the demands on time, Bradley doesn't show it. I need to make time for all the things it's all so, it is all a matter of making be for other things even if you seize to squeeze you into a shorter space. "But if you really put an eye on now is the time to work at what you're doing, but he really wants to do a肌大 in bigger other professional football team," she said. "I hat I want to accomplish. I'll see time for the other things." Bradley's decision to his dream is caused some problem. Stringing's view him as self-centered. Old Man Cody's request that him unwanted special treatment SPORTS BULLETIN 7