stock crash2

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W L'VfUKK _ «au }v*v*. V a l l r . . Kan tu-*l E H · *· EVENING j! EDITION!! VOL XXX _ MODESTO, STAKISIATJS COONTY, CALIFORNIA. TUESDAY, OCTOBER 29, 1939 M i s s i n Air Liner; Reported' A s S a f e Sunken Ferry And Victim Urath lo-tlay floM'd Ih*'stormy career »t the Krv. Dr. John Ku:ich Straton. famed n^stor of ill* Calvary liiiptlst Church hi NVw York. Ir. Stratuii MII t-unifexl tw a Lean attach In H hunitaritmi where he had beet; vt-riously 111 follottins: a para- Mrokt* m»me monltis ago. Western Express Plane With. Two Passengers And Crew : At Albuquerque W I D E H U N T E N D E D ^Craft Lands Safely After Bat-! tling Heavy Snow Storm i Over New Mexico ', BL'LLETLS" j LOS ANGELES, Oct. ^9.--tin-'Ihe ^9.--tin-'Ihe Western Air Eipres mmuunc- rd here ibiit its pusseuser liner 113, mis.sJns: since eariy yesterday, land-: ·*d in Albuquerque late to-dny. Th? ftnjh received nt th? iocn! headquarters sold that the two pas-_ sengers and three members of tin- crew were safe. The \vord to the Western Air Ex-'. press m e r e l y r e a d : "Jimmy | Doles landed here safely with re- [ iiiulnder his crew and passengers · :nid under power of his u u a plane." ; The Hat cf the passengers atul '-. crew on thc plane follows: · S. F. MAX ABOARD j Dr. A. TV. Ward, San Francisco, j passenger. Dr. Ward, prominent j dentist and treasurer of the Cum-1 nmrcial Alloys Company uf San! T HAS LITTLE! TARIFF GAME'! . j Points To Income Taxes As i Relative Importance Of Two Sections Of Country QUIZZED AGAIN AT PROBE BY 30RAE Aged Lobbyist Says He Has Been Interested In Protecting Protecting The Fanner WASHINGTON". Oct. 20.-- UZV--| . The western btatOs, whose senators '. are rewriting the Republiczin tariff | 1 bill, "ijaven't tir.y chips in the ganrc. at a]i." because they pay only a! · little more than two per cent of t h e ' ; income lust's, Joseph n_ Gruntiy.: ; legislative agent and raiser of R e - j ; publican campaipn funds told thy j '. senate lobby investigating: commit-! · tee to-day. ! "If it was not for the provision : : of the constitution that gives every I · state two senators, these states' .would never bt; heaici oi.' Orunt.\ aid. "The income tax figures show , the relationship of the stale?. t : "We find these representatives of j KG little note are obstructing and · destroying the great reserves ot taxation to such an extent that it is a national tragedy and I think it ought to be pointed out to the couu- · try by ^omn one." Grundy was* recalled at the request request of Senator Borah, Rep'.ibH-1 can. Idaho. ; Grundy and Borah hiivc been bit- ' ter political foes and Borah closely examined the collector of Republican Republican campaign funds about his effort effort to dominate the party for the eastern win;*, win;*, - . , _- . · .,, Borah souchL first to question rnnclsco. was on route to Fort ; g ear j Attack Causes Death Of Grundy nbout his statement that Worth. Tcia5, to address a dental: Fundamentalist m w' ta |: Mer, ,,»,,.,, WBta .| fir-id. N. Y., passenger. to be a The Grand Trunk railroad"?* bic car f«rr. ihc Miluaukei*. «hJchi j went down In a storm on Lak? MU-hi^an with ;t K^s of At H\t* is! i bhuwn abovv. The pk-ture M,»w hv« Iho !.»i\ m a n i n i i l w r ' u f : the civw, one »-f several pkk^d up by utiuthtrr !:».*· ttt-ainer. brine taken u^horc at " BAPIT CL he came to Washington *'to make the Republican pany carry out its platform adopted st Kansas City." Enforcement Plank "Did you do anything- to promote the enfor cement plnnk?" Borah Men, snid | CLTPTOX SPRINGS. N. Y.. Oct. broker, was rn route i-9. '1 '1 ?'--The Ro, Dr. John Roach . ,,,,,. .. io his home alter a iriu around · Siraton. noted militant fundamen- : askedT iho world. jtalist Baptist preacher, died at _a ; -j did anything I could." here, once was a sUsr nthlete at Although seriously i!! with a ,. relief, "i don't Know how active T , Tordham'"Cnlversltv and later waa! nf rv °. U5 breakdown for the last ; have been but I have been inter- I»OS A] . *, . ... .. mtmtn. dpsth namo 5m"X«f»pr»arflv · ,,,=·«» ,4 in )»· /The. an«L*At* itri»7-frt ' · ""-i a pitcher for a short time with the! FOTTRgSgJN PAGES Ko. 253. Panicky Selling Of Shares Results In Disastrous Break Forty-Year-Old Steamer Fionn-' -i -i ders lu Storm. 13 Miles Ott H "£ c B 'ocks Of Securities Dumped Into Market. Bringing · Wisconsin Coast ' Losses For Past Week Near $25,000.000,000 Mark; 20 RESCUED SUFFER FROM SERIOUS INJURIES Bankers Act In Effort To Restore Order :«'E\V YORK, Oct. :#.--tin--The wont of the flcod of selling which ha * wiped oin at J?ast $25.000,COO.rK» in thi quoted value of securities But One (K 75 Aboard Un- ' ! h c ' ast wceht a W° HrcU '° hsve Insert In the New York stock markets account^ Pnr- fl«JL TJ? J!^ *?!? ro ? , w {' en * bri f f rail * { oitow «* »»«»« disastrous d«- .3rneu scores ol Issues down ?10 to 570 a ahai-e. · On thi rald-aftcrnooa rebound. | prices of leading stocks rallied ?5 lo $25 a share, but were still selling- we)! below their closing levels of accounted For; Captain Sinks With Vessel · KENOSHA. WIs.. Oct. 25. ill-. ill-. The 1 Ffcond b!£ Khipwieck on Lake j Michigan within a week clulmt-d ] ri^ht lives to-day while roa.-it In Crisis ...... ... ri -, uu .v «»ui- i - u a . i l , - Transanii-riM stuck made up guardsmen f o u g h t '.heir v.-uv ; ful'S'uerable of lt» loss on the through roountuinoos waves to ' · f" 1 " FnmclMu Sioek Exchangr j save slxty-ste others from th= -10-! ; t'^Ia)-, wh«i A. I 1 . Uiannl: ' year-old steamer Wisconsin, after ! i hrnii "' . thl ; "J, 1 ""?" 0 "; nla - · - - ,au upprul to h!.i friends and i stockholders to buy tho stock : "" its Investment character, Broker Guilty ur uttering Bribe In Pantages T 1 · i trial breakdown for j month, death cam" unexpectedly -|at 5:50 A. M. after a heait atack. 7iV.v York Club of ths American, his wit* was av his bedside v.heii J-rague. - : he died. James E. Doles, 28, of I.os AJI- '· H f suffeted a Flight paralytic peles. chief pilot. Doles won Ws J a£ TMJ.'v"t to a 'anitaHum'aT'A* wings as an army flyer at March; Icnts. Gj... for a rest. Ho returned .Field Ii. 1920. Ho has ucen Dying to his home n month ego. but socn for -\Vestcrn Air Express for more!--;uff-rcd from a n-rvous brcak- Jton a year. He tas 2J70 hours n n °^ 3nd cmorcd tte sanitarium of flying- to his credit I ile -a-as pastor o; csted in if. (The answtr steered away from the prohibition question). question). I was interested in helping the farmer.". Bail Bond peal^r ^Sentenced To Prison For Trial Of Thdater. Man's "Wife . can Borah react to him thn Rcpubii- j T OS AJN'GELES, .Oct. 29.--LT)--Wlllioni'R. McGec, bail bond broker, campaign pledge^ to equalize | LJ yras tried, convicted ntl sentenced to prison yesterday on charges ':o a policeman in connection with the lire. Lois Pan- thc tariff and economic conditions 1 O f offering a. bribe t u beLvreen agriculture and ldiu- tage3 nianslBagbter tr'. "\Vhat did you do here nbout. that?" asked Eorah. | jury : "I -was intereatf-d in seeing that,; TT-J,, rary Bap- the farmer would get what was J Allen A. Barrie, 26, Burbank, co-; list Church in New York "but by ; coming to him.' pilot. Barrio has 3900 nlr hours, i his aggressive campaigns aeainst K. L Brilcn, Los Angeles, stew- j TM n et he* l ri^} nailop^wiue o-om « r d. ! inence. During thc last prejiden- Sccnln Arizona |!ia! campaign he took an active Thc craft v.-as last seen more : P 3r t against t.hc canc'.idacj* of Alihan Alihan thirty hours ago as it passed j n n " pu^ait^rd Aimr^i"^" h ' m ^°-t over Adamsna. Arizona, 150 miles : him in" the 'soxTth. "'** ^ west of Albuquerque, its destina- ! In Evolution Case , ]n ' n L Dr. Straton -,vaa a nilliUnt fund- Vh^ T A T h-^ ,-ith icrht ' atn enloll3i a n d i n recent years h a d The T. A. T. ship, vith eight | Cl3 _- hed repeatedly with propon- pcrsons dead, was found wrecked . ents of modernistic teachings.' Kc . on the side of LIL Taylor in New | ^Pjjciallj^ was _ opposed ^to the I Icsic6 after a cearch that lasted j t^' SSE MAN HREDASCOUNIY EALffl OFFICES! more thai- a [ Eryan at the famous Scopes .... _ irial at Dayton, Tcnn., in 1925. ALBUQUERQUE,-Ts' M.. Oct. 29 His campaigns against alleged -Pilot George Rice of the b (Sec STRATON, Page 2. Co!. 3) George Western Air Express returned here nt 31:10 A. M. In a snowstorm, ;ifter reaching as far west as Gal- Dr. C. H. Tenent Will Arrive In Few Days To Place Unit In Operation With th". Radio Contests Woni^aith* FT of Dr. C. H. Memphis*. Tenn.. as r. a full-time county ges manslaughter case. * McGee's trial was heard without by Superior Judge Chai les Fri'jlte, who presided at the v tr!al i whteh resulted In the conviction j of Alexander T. Pantages, j vtlle magnate and husband of Lois Pantages. on a statutory charge yesterday. Judge Fricke imioedi- atcly sentenced McGec to from one to fourteen years in San Quen- iin or F'tilsom penltentiarleH. \Vbe- ther McGee -w'il serve hla term In Folsoni, as a felon twice convicted, depends on the outcome of his.ap- I from Q conviction of perjury · in Orange County, where he was" accused following conviction of a bootlejrger for whom he testified.! Garland Piffle, law book sales- j man indicted for alleged perjury | as'the result of his testimony· a"t | th^ trial of Pantages, entered a j motion in Superior Judge William | T. Aggelei'a court to have:tho i n - 1 dictment set aside. Dite of argu- ' nient on the motion anil plea *o . Fires With One Hand, Eats Soup With The Other pHECAGO, Oct. 20.--iiD--Shoot Vx with one hand, eat soup with tha other--that's Frank \\. Stetl for you. Steel had j?one to ihe house nt "iles, a roadhousc, and ordered dinner. When tho waiter brought tho soup, Steel or-derc-d Itquor- The waiter said it T\*as not that kind of n. roadhoiise. "Ao 1 ."' said Steel, and he pulled a pistol and fired Info the air. When police arrived Steel had tho employes at hay with tho pistol pistol in his rleht hand white with his left he was leisurely finishing , it had floundered In a- storm thirteen thirteen miles" off the coast. ; Among the rescued brought to ; hospitals here, twenty were suffering suffering from severe injuries. ! True to the traditions oC tha sen, j Captain Hugo iiorrison, of thc i Wisconsin, went down with his i ship. ! Only one person of ihe seventy- j five who set out from Chicago last night was unaccounted for on the ! last checkup. Coast guardsmen I told of seeing his body flost out of reach on the crest of a high wave as they "were rescuing the others. The Wisconsin, her hold filled with water,, her radio silenced and lights darkened, dived to the bottom bottom early to-dav just as thc- last lifeboat hung snarled in the davit Members of the crew said Capt. Morrison stood en ihe starboard deck with his arms folded, as the cold gray waves folded over his ship. Lifeboat Capsizes Thc fifteen men in the last lifeboat lifeboat were dumped into the lake, some of them going 'o their deaths, the other struggling in the waves until coast suard boats, tugs and fishing craft, summoned by radio, came to their aid. Several o f - the injured were crushed against the side of the Wis- V)Q!iIn when snarled. , · which, he di*c!ared, was uncm- l paired by the stuck market cata- ! t lha lifeboat ropes A few nilles north of the spot where the Wisconsin went down, tho car ferry Milwaukee was swamped last week with a Joss of- fifty-two lives. Only nine of thc bodies have been recovered. Fred Triever. a nurvlvor of today's today's tragedy, said the Wisconsin ran safely through last week's storm which sank the Milwaukee, only to go down in a to-day. GXANNtNI yesterday. Probably more than hulf of the 101*0 taues listed on the , ( c.xchanpe were selling at new low |C»" j f levels for the- year, current quota- iii. | i Jons in many eases representing · I " IMS than one-half of the values prevailing prevailing less than two weeks ago. Bankers In Conference Lending New York baokcrrt a#ain met in the offices of J. r. Morgan Co. early this afternoon, cut no officiul announcement will bo forthcoming until late this eve-" nine. Spokesmen for thc hankers stated, however, that orders were helng placed by the banking pool to assure an orderly market. Thc bankers previously had reduced ihr. margin requirements on street demand demand loans from 40 to 25 per cent, in order to ease thc financial burdens burdens cf brokers and release credit for their use. To Close Tuesday Thc New York Stock Exchange will closed nest Tuesday, election day, and several sipck exchange members have suggested a stock exchange holiday on Monday, giving giving harrassed brokers a thr-e-day respite from active trading to ea*ch up with the vast accumulation of work, but tome opposition has dfr: dfr: veloped to tbs proposal of the the- · ory that such action mf^ht be mis- j understood. " - . . As the market entered the final stretch, tha New York Stock Ex-' change ticker was running one and one-half hours and Ihe curb ticker nearly three hours behind the market. market. , . . " . ' · - ' · ' . Closing Closing prices of some.' o f ' ' thb- ' " stocks follows: j Giairitini Asks *Qear Heads* In Market Debacle Transamerica Chief . la a u e s Statement In Effort-To' Halt Maelstrom the charge was at for October ZL Sleeping Guests In Ily FJBJVK 1L BAKTHOLOMEW (United Press Staff Correspondent) SAN FRANCISCO. Oct. 23 (IP).-Trading (IP).-Trading in Traneamerica. Corporation, Corporation, temporarily suspended on the ( Kan Francisco Stock Exchange at t the opening this morning, was resumed resumed shortly tielorc 10 A. M. A. P. Glannini. head of the Transam erica Corporation, Issued the following statement shortly after thn trading in the stock was temporarily mispended: Increase In Tonnage Shown In! "The fact that Tmnsamerfca was ~ ' - the last' stock to resist the present market decline affords a feir appraisal appraisal of Its investment value, bui with the change in tho general trend It should not bo surprising Spite Of Frost Damage, Survey Reveals, Stanislaus County's 1929 canning peach crap acspjte frost damage,; that Transamerlca evcntuaUy totaled 4tOW tons, «n increase of j wou id f o «ow tho other leading Can 3120. off Si6; J-f«w York Central. *i89,50, off $3.50; Stajidard Oil,of New Jeraoy, .$57JS, of* 57; American Teiephona 5204, off $23; Kadib ?38. off ?1.75; General General Motors $40, off $7.50. and (?eri-. cral Electric $222, off $23. New New Sales Bacord Total stock sales stt a new high record at 16,410,030 shnres, it wtts said at tha close. The previous fee- made last. Thursday, was 12 t X) X) shares. J J The New -York Curb Market also set a new high record, with a turnover turnover of 7,096,300 shares, tho previous previous record was mora Uian 6.000,000. shares Thursday. Transactions "in Cities Service" amounted to" more than 3,000,000 shares. · ' RAXJ.T AT S. F. · 3AN FRANCISCO, OcL 29. (ff-Caught (ff-Caught In a whirl of frenzied BRH- ing brought on by the world-wide debacle In security markets stock prices tumbled headlong in early setting on thc San Franclscc exchanges, exchanges, then rallied s h a r p l around noon es hysteria gave place io bargain hunting. No basis for the widespread alarm »I:own foy tiaders wiw manifest along Montgomery Montgomery Street outside of the action action of thc market istelf. . ' Trajisamerica Jtecovers Transamerlca. baiwork -of Western

Clipped from Modesto News-Herald29 Oct 1929, TuePage 1

Modesto News-Herald (Modesto, California)29 Oct 1929, TuePage 1
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  • stock crash2

    rj1 – 25 Feb 2013

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