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"
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