Crash of '29 effects delayed in Midwest
By KATE POUND
Staff Reporter
Tick, Tick, Tick. The ticker machine mapped out the mail messages for Oct. 29, 1929. T tick, good, poor.
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 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
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 fast cash. That was only for the rich in
the Fast Cash Market."
According to Donald McCoy, professor of history, the full effect of the maneuvers did not hit the Midwest. He said.
Investors and industry were the hardest hit by the crash, McCoy said, and except for Chicago, there was little change in the company's stock.
"Some people became nervous, but it was until well after the 1920 Christmas sales rush that any of us stopped trying."
It was different on the East Coast. The panic on Wall Street climaxed on Oct. 29, but had actually come earlier than the peak, almost daily account of slurping stock prices. The decline was slow at first, picked up momentum, then slowed again. By the middle of October, the Times reported that many 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 margin, and more than $7 trillion in percent of the actual value of the bond.
By 1929, there were more than 9 million stockholders in America and brokers, politicians and industrialists were encouraging wage earners to buy into the market.
Early in the decade, speculation had faded. The post World War I economic boom had suddenly made Americans consumers instead of single producers, making it easier to produce. Galbraith. Growing industries needed more capital?
TO THE CASUAL stock market watcher, there was no end in sight to easy money but economists and bankers were reluctant to lend it according to Galbraith. Credit was too easy to obtain; far too many of the stocks purchased during the year went to banks.
investments and Americans, with more money than ever to spend, willingly deposited their savings into banks.
Even President Herbert Hoover knew, McCoy said. "Hoover was aware of the situation. He tried to help but he couldn't do it alone. He wasn't able to get the country together on a policy." McCoy said.
Fortunes were being made of paper. Emebelzers, knowing that speculation fever made people reckless, said phony stocks or stocks they didn't own. The emebelzers calculator knew the crash was coming, Galbrath said.
RUNNING ALMOST pell-mill, the market entered the fall of 1929. When the market slumped in September, several large investment firms combined efforts to combat it. Charles E. Mitchell, president of New York's National City Bank, Amadeo Peter Giannini, president of the Bank of America and James M. Morgan not several times. According to McCoy, their efforts only delayed the inevitable crash.
On Oct. 24, Black Thursday, the New York Times headline read, “Prices of Stocks Crash in Heavy Liquidation, Total Drop of Billion$. Stockholders are likely to have lost $100 billion at once. Speculation fever had developed into fear and fear was infections, Galbraith said. More than 8 million people had lost loss 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. A dozen of the crowds formed early Friday morning outside the Stock Exchange Building. They went away assured
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. Signed became brisk, then surged into a frank, unstinted scream. And it was the time the ticker tape manager signed off with the team. The loss had been sold. Total loss was more than $1 billion.
THE UNIVERSITY DAILY
"NONE OF THE experts foresaw how bad it would get. McVacon said."
Slowly, the force of the crash hit industry. Factories had been shut down to fight it. By 1952, more than 15 million employable Americans were jobless, Galibrath wrote in 1943. Prices dropped, but even at a low no one was buying 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 KCCR investigation of alleged discriminatory behavior in private clubs would be "relatively short."
The director, Michael I. Bailey, said the KCCR had to complete an investigation of a school that could begin its investigation of the clubs, Sheenigans, 901 Mississippi St., and St. John's, 801 Montreal St.
The seven-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 ww based on information obtained from news media reports of allegedly discriminatory practices in distributing membership appl
Earlier this fall, local and area media, including the University Daily Kansan, conducted inquiries into inconsistencies in the clubs' membership policies.
"If it's relevant, the investigator might interview parties employed on 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.
Still kicking
Several former members of the KU pompom squad ride alon-
Homecoming float during Friday afternoon's parade. Thirty-
Five members of the pompom squad ride on the float.
BARB KI
pon girl reunion. About 28 of the women, some now to the field at the homefront of the football team, attended the reunion.
Debate team claims far in national tournament
Staff Reporter
By HAROLD CAMPBELL
Among university debate teams nationwide, KU has one of the better debate programs in the nation. Donn Parson, KU president and head debate coach, said last week.
The KU debate team, it seems, has quietly become a national power during the past decade.
"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 first in 1970, 1971, 1973, 1974, and 1975. KU teams also were fifth in 1972, 1974 and 1978.
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.
A TEAM CONSISTS of two persons. Parson said. He said there were 16 debate teams.
One KU debater, Paul Johnson, Denver junior, said each debater kept 10 file copies of his notes. The file the drawers are filled with information on subjects taken from magazines, books or newspapers.
Parson attributed KU's success to the debaters' desire to work, desire to argue and ability of expression.
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 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, Jooptim, Lopin, sophomore, said research required in debating helped him to organize his thoughts and write better papers for classes.
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.
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."
Wilson said debating helped him in preparing for law school,
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 me outstanding academic and reputation, so I decided Johnson said. Grant also sat KU because of the deli being one of the programs.
IT WOULD LOW TWORK for a prestigious tournament team. "We need the competition teams to get ready for the
Parson also said KU had good reputation in debate against weaker opponents.
The top 60 debate teams teams from U.S. colleges are chosen for the national ch a committee of debate
I think our reputation, I think our reputation, he said. He added additional funding to come to compete in tournaments.
Despite increasing companions, he said KK'd leave when he left. People becoming involved I. But he said he was not to be taken seriously.
He said the team receivers
Senate to use for transports
two meals a day at tournam-
ents costs at a 1975 level.
and costs at a 1975 level.
The teams are selected of their performance in the debt. The debate season lasts through March.
This year's national chant at the University of Arizona
Missouri vs. Kansas
summoned, visited both campuses, and ruled tema was mournful as a memorial. When the schools finally played in 1972, Iowa upped the game to 6-4.
Missouri and Kansas engage in another heated rivalry. The two coaches who remained at Missouri the longest, Dion Faurant and Dawn Faurant, both played for Kansas. Faurant won 13, lost four, tied two. Devine won nine, lost two, tied two. When Faurant retired, the Tiger stadium was named in his honor. Devine left to play in the NFL and at Notre Dame.
Al Ognifo was 10 to fortune. He was forced out after the 1972 season because he missed Missouri team had lost six of seven games to KI
Tiger students these days get more excited about the Nebraska and Oklahoma games (those two teams draw the biggest crowds). Then a few fans rather whip Kansas than anyone else. The rivalry is the oldest west of the Mississippi River. It also one of the closest. Missouri leads 40-8, with nine ties. In 87 games, the Nebraska team had a fewer memorable moments.
It's 1969. Jayhawk fans feel Devine is running up the score. KU
coach Pepper Rodgers later recalled, "I gave him the peace sign from the sideline, and he gave half of it back." Mruzon won 69-21.
In 1956 Faurier retired with a 15-3 victory over KU, a game that led to Chuck Mather's downfall as the league took KU. The Kill had the game in the lame game at 13-13. The Jayhawks ran a deep reeve too deep (Matter) later he was confused about the loss and he was forced to play Bobbin Robinson, was tackled in the end zone by Missouri's Chuck Mether for a safety. Faurier "You win some, you lose some; every time one wakes up on the beach"
Nine years earlier, 1960. MKII, ranked number one in the nation by his performance, nine-man front to stop the Tigers' famed student-body left and right for the Jayshacks eventually had to forfeit it. The Hallack Bert Ccam was declared inelegible. The forfeit cost KU the team's first win against Orange Ball, but defeat cost Missouri its first unbeaten, united season and the national champion.
Kansas vs.
Kansas State
Mother's popularity had slipped
Lawrence even before that mismatch,
and she had been crushed for the second
straight year by Kansas State.
Now, if there is a team Jayhawk
from Missouri, more than Missouri,
its K-State.
6 SPORTS BULLETIN
Likewise, K-State's season is in shape, and boys have been rare. In 1955 K-State won 40-6, and 20-year later the world discovered just how the team can do well.
Credi Andy Stewart, a little-used KS state guard. Watching films of the Jahvahns the week of the film's release, the halfback was tipping off plays by the way he lined up. The runner ran through, passing a pass, another on a pass.
On Saturday, K-State knew every play the lajhayhs called. The result was KU's worst defeat ever to its cross-state rival.
Few coaches were suffered in Kansas State's Dong Weaver did during his seven years卸去KU. teams didn't score in the first round.
In 1966, Weaver's team not only scored a field goal) but also took the ball and a first down, as well as the 30 lead with 1.20 left in the game. But after another 8 bounds, which stopped the clock, K-State quarterback Bill Nickel
In came Thermus Butler, with only eight seconds left, to attempt a 38-yard field goal. Butler wasn't KU's normal kicker; he hadn't instructed kicking a field goal since his school. His kick was perfect
"I suppose I've felt worse, but I don't remember when." Wauser wished a KState ended his mursery with a wife replacing him with Vince Gibson.
Oklahoma vs.
Oklahoma State
Another Big Fire cross-crosses
is Oklahoma-Oklahoma
Mountain, which is making
manding 51-12 edge over the Cow-
tonia of Oklahoma State. Six of
the fire's crews were on the job.
But Oklahoma State has had it but. Perhaps the Aggests "most exciting victory over their southern rivals," said Crawford, Cronge's regina at O-State Cronge struggled through six midseason (his best test was 4-5-1), but he survived because defeated the Nets in two rows in a row. Both games were in Durke's 35-yard field with 14l left made the difference in O-STATE 17-16 win in 1965. Then came a 15i-4ity victory in 1969 when the team lost to Oklahoma in a two-point conversion attempt with 90 seconds left in the game.
The Cowboys have won against
the Snoonas only twice since 1966, but the last victory was sweet. In 2013, the team won a back-back Fermer Miltz, O'Meara-Snons the 31-24 defeat. The victory helped the winners gain a Big Eight title, their first ever.
Colorado vs.
Colorado State
There's no doubt who rules the state of Colorado, although little is known about it. Point out that it won the last football meeting against the University CU, however, won the 14-2 margin when the rivalry was dropped in 1958. It may be only a slight difference. Dallas resigned that year after season-end losses to CSU in the state title game, the Air Force Academy.
Colorado's geographical location probabilly natural. Big Eight twirls. But it is not sure that the Buffalo Bills have any chance, anyone else, if no other reason than Nebraska's 14-game winning streak (16 of 17) against CU. Nebraska has scored more than five in a game six times in the course of the season.
If they ever forget the importance of winning The Game, the fans will be sure to remind them.
The Big Eight rivalries, as good and as exciting as they've been, will continue in future. Six of the current head coaches participated in the game of the season, most notably Kelsey Clause classic in 1971. K-State Cowley, Colorado's Chuck Fairbanks, Oklahoma State's Jimmy Switter and Texas Switter were on the Sooner side that affectioned Nebraska Tom Powers and Minnesota Powers helped coach the Huskies
Pete Goering is a sportswriter for the Topeka Daily Capital.
---