Image provided by: University of Oregon Libraries; Eugene, OR
About Herald and news. (Klamath Falls, Or.) 1942-current | View Entire Issue (Oct. 25, 1949)
TUESDAY, OCT. 25, 1949 , CRALD AND NEWS, KLAMATH FALLS, ORECON PACE FIVI This Week Twentieth Anniversary of Stock Crash, Big Depression Mr VYIl.l.MM D. MOIKiAN NKW YOHK, Oct. Twenty yrr mo lln week tli atock market rreslird In a traitlo rnilliii to mi ere ill prosperity. The Coollriae bull market din) vliilrnt death Owl allocked and Ituimed thli nation and financial capital! thrmiiihout the world. There U no atandard by which to measure tha arlllna panic which crept Into Wall street In cat-like silence and rlpd tha llnancial dUtrlct wide open. Described In enerelllirs, me market value of the nation'! pro ductive machinery plumed, in a matter of minutee, by billions ol dollan. The decline lated lor three loin heart-breaking yeari. Yardstick In human lerma the losses could be measured In dullara and cenu: In the bankruptcy record, the dr ilructlon of lllellnie aavliwe. in ihop ticket. 11 could be measured, loo. In the desperate, haimard I area of the new poor. In dead dreanu. In Ui pathetic bewlldermen of little people and bij people all over Ue country. The prelude to panic wai enougn to lull the moat astute financial men. Oovernmenl and business Vtaders painted the future In roaey ' colore. 'Dont aell America ahortl waa the rallying cry lor a new world. Bu amalgamated thu. eonsoll- dated that. You can t low. I've lot Inilde Information. Delusion Everybody knew the market wai going up and up. There were a lew people who disagreed, but they were viewed with the aame auplclon ai an ardent lupporter of the com munut party u today. Peunle briiicd. borrowed and nils money to buy atock. Not food ilocki In particular, or even bad alock. Jut Hocks. The total of broker!" loam, a Inure which indicate! the amount of itwk bought on credit, aoared to an astronomical figure. Stock prlcn advanced until many were aimply aburd In relation to the ability of a given company to ern money and pay dividend!. Hint The first Intlmallona Uiat aome thing waa wrong came In the week which ended Octnber III. UN. That waa a bad wee for the market but not too bad. Tha bull market had paused before. U waa nothing serious. The next week panic atruck. The bottom literally dropped out of the market. Tor a while aome atorki could not be aold at any price. The ticker tape, pounding out oblivion business. The BBC haa a keen eye and a long probing finger. It la re- lected aa well aa feared. Tut a long while It waa hated. The atock exchange U engaged now In a campaign to perauade peo ple mat it! a good Idea to buy stocks for Investment not fur peculation. for aiieculator! an over the world. ran hour! beyond the market cluae in order to eaten up with an ava lanche of Iranaactloiia. Nearly 13. 000.000 aharea of atock changrd hand-, a record that alood tor near ly a week. I nderaUtement The clty'a big bankera got logcth- er, finally emerged with an an nouncement which certainly waa a masterpiece ol undemlatement. They found, It aeemi, "a little dis tress selling." The market rallied for a while but on Monday and Tuesday, oc tober 21 and 20, the climax waa reached. Blocks of the country'! leading Industrie! collapsed. Hale on "Ulark Tuesday" totaled more than I6.000.oun aharea. The ticker tape ran houn after the close of the market. Clrim broken and their itaffa worked far Into Uic night. That waa the day the Humeri, the big money men. the millionaire, saw their fortune! melt awav. The little fellow had already been anld out. The big fellowi lasted a lew dayi longer, Nightmare An era of prosperity, and of speculation, greed ana manipulation ended In the nightmare of those October duya. Tnat October, loo. wa. tne curtain-raiser for a new eel of values, a new kind of thinking, not In Wall street alone but In every city and town In ine land. Wall atreet Is still a whipping boy when "the Intercuts" have to be damned. The financial dlstrlrt. though, has a sense ol responsibility which did not exist In V2l. Watchdog The securities and exchange com mission, created by by congress. Is Ihe watchdog of the securities Ghostly Tome Author Soys Book Dictated By Ancient Atlantis Priest Elk Takes Over From Herd Bull PORT ANOEI.E8. Oct. 29 of) Tilings are getting back to normal at Hie Hugn Uovan larm today. About five weeka ago a big bull elk wandered out of the woods and Jollied Oovan'a beef cattle herd In a field adjolnin the well-traveled Olympic- highway IS mllea east of here. use lea In While pasaersby gawped and ran for their cameras, the lordly elk patrolled the herd, gradually re ducing the herd bull to the status ol an errand boy, As word of the elk ! presence spread, aome daya would find aa many aa a hundred cara at a time lined up along tne tencea to view' the animal. hut last week the elk began get ting too rambunctious for his own good. When he roughed up the cows, they were moved to another pas lure. Mr. Elk Just casually hopped over the fence and got nastier than ever. A few venturesome photog rapher! barely made It back to the highway, when the elk look after them. Yesterday morning he gored a cow and almost killed two new pure bred calvea. That waa enough for Oovan. With permission of the stale STUFFY HOSt 7 HASF1 COUCH? ; UP DOWN RELIEF LONDON. Oct. 26 Wi-Brltlsh au thor Frances Dale did the typing, but she Instated yesterday that her last book really waa written by a priest who haa been dead thousand! and thousands of years. He lived, so said his ghost, on the continent of Atlantis which sank In the Atlantic ocean a long time ago. Ho certain la the 40-year old writer that the book which fairly flew from her finger tlpa la none of her work that she told her astonished pub lisher that she will accept no royal ties Just a typlsti fee U all she want. "I can't explain It." aald Mtaa Dale, who haa written numerous game department he killed the elk and turned It carcass over to game protector!. But Oovan'a herd bull hasn't yet recovered all his sell-esieem. novels, children'! book! and a cook book. "But a voice Inside me said 'write thu down' and I lust typed with exhausting speed. How that cnap could dictate!" The voice, she explained, Identi fied Itself as being Uiat of a priest named Armartua, and he warned of dangers confronting civilization. Bhe uld she understood him to say he'd been dead nine million years. 'loo much materialism and selfishness are what! wrong In thu age, aald the old Allantlaian. Mis Dale put It all down, and the boo is a col lection of thought about modern morality. Toe Deep "I don't pretend to understand It," laid Publisher Andrew Daken. A lot of people believe in the story of Atlantis. Some Britons even have tried to promote an expedition to the middle of the Atlantic to take r r I f l VI av m 1 I I MENTHOL! S5 JACKETS and CRUISER COATS Ulark Bear Heattle Woolen illrarh Welaa AH Colors and Hiaea OREGON WOOLEN STORE llh Main rhone t?S sounding! here, thinking they can prove the continent actually existed and actually sang. nw uwftiiwi nsujt no tuuaj 111 mean I I t for you tomorrow I BOEINO ORDERS SEATTLE. Oct. 24 0 Boeing Airplane company officiate aald laal night the company had un filled order totaling M03. 44,1 17 on September 10. ) n it jfu!77. n WINTER TUNE-UP RESTORES YOUR FORD'S PEP, POWER AND ECONOMY AND COSTS YOU wit $9 25 (Labor only. Farts Additional) BALSIGER MOTOR CO. Main at Esplanade Phone 1121 ?rtSM Lite... ivay The tang of tall in the air. ..an early wart with your dog and gun . . . the dawn and the birds. Then home to a refreshing glass of light Olympia, These are among the good things of life. IiYMPlA- ...... . - EC the Water" But, lit Lifil Rtfnibmrmt Bntrmff f Milium tf HmfmU tifk etvama tsiwine cearsMv. oivmsi. wstamoreN. ... AJtlko&SpecM 30-day. le&o Cmsl Smjfwih . . NOT ONE SINGLE CASE OF THROAT iRRimnoNA 'mkm Yet, thete were the findings of noted threat spexalists otter a total of 2,470 weekly examinations of the throats of hundreds of men and women who smoked Comets and only Camels tor 30 consecutive day. ... .,,M ..IM, I t .,. ,......, .,r,, : " (7 r . Li. 'Hi w " mm IT'S UN I Smoke Camels and only Cornels for JO doya, I'Tjr Stfj Compare them In your "T-Zon" (T for taste, T for throat). Ay ' 9 let your throat tell you about -Camel's cool mildness. . W let yeur tasle tell you about f4fl yeV s -Z2!$?M. Cam4l'' wonderful flavor. CAMELS! WW: ' V A t V if Meet MISS RITA TENNANT, Seattle secretary, who recently made the 30-Day Test of Camel MILDNESS under the observation of a noted throat specialist. mm AITMOUOH SHI'S SMOKtD many brands Rita changes to Camels for het 30-Day Test. Like the other smokers in the nationwide test, her throat is examined every week by a specialist. 1 TJ gy I j. MM$i ft V AMI SATURDAY Of tICI ClOSIDI Off to the tennis courts for Rita! She calls timeout for a Camel and confides: "I am really delighted to be making the test. Every Camel tastes so goodl" J0TH DAY...FINAI IXAMINATIONl Her doctor reports NO SIGN OF THROAT IRRITATION dm to smoking CAMELS! Rita remarks: "And amok ing is really fun with Camels!" f THROAT TOLD ME W5S, J C ' V ABOUT CAMELS- I ( . i ATHEy'RE SOMILO!. A y' f I AND THEy TASTE T" -nW" 9th . PINE Phono 3188 RAIN OR SHINE SUMMER OR WINTER M-W DRYS CLOTHES AUTOMATICALLY ANY DAY NO WtATHIR DELAYS NO CARRYINO HEAVY WIT WASH NO TIRESOMI aOTHES.HANOINO i NO DUST OR SOOT HAZARDS 219" $10 Down end $10 Monthly M-W"Automatic Electric Clothes DRYER Wash, dry : : : and ovtn iron on the same dayl Glorious work-and-worry free hours, while your clothes dry automatically In this new M-WI Clothes are FUllY AUTOMATIC M-W's MA0IC-DIAI fluffier, lintless, ana fresh-smelling, when they come Just load, set dial for desired dry- out( a, we 0J crease-free for easier Ironing. M-W's ness and leave. Magic-Dial stops machine when clothes are dry. new vacuum drying system even sanitizes clothesl
