The Courier News from Blytheville, Arkansas on January 26, 1955 · Page 2
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The Courier News from Blytheville, Arkansas · Page 2

Blytheville, Arkansas
Issue Date:
Wednesday, January 26, 1955
Page 2
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PAGE TWO BLYTHEVILLE (ARK.) COURIER WEDNESDAY, JANUARY M, 1955 The Stock Market Market Crash Still Possible, But Big Depression Unlikely (3rd In » Series) By RELMAN MORIN NEW YORK (AP) — The stock market crash of 1929 was an economic Pearl Harbor. It killed some people, the men who committed suicide, or died of heart attacks beside the tickers. It struck down the hopes of many others. And ultimately, through the great depression that swiftly followed, it hit the life of every American. Nobody ever will b« able to wholly assess the effects of those tragic years. How much did they set back the economic growth o America? How deep a sense insecurity did they leave? Harry D. .Comer, partner-analys in a major New York brokers firm recently wrote: "1954 may well be considerec by future generations as a turn Ing: point in our history . . . Cer tainly, it will long be remembered as the year when America con quered the depression phobia." Long books have analyzed the 1929 catastrophe. They show spec ulation, rigging and other sharp practices. Such was the fever o the times that people bought stock without knowing what th company produced— or if it pro duced anything. Things are different today be cause of regulations that did no exist then. "Triggered" Slump Did the stock market crash cause the great depression of thi 1930s? Comer prefers to say it "trig gered" the slump. Other factors existed. It dramatized and aggra vated them. Moreover, it set in motion chain reaction of contractions. People cut back on buying and spending. They were scared. Sales dropped. Production slowed. Unemployment set in. The banks were scared too. Some had failed. They called in notes. Everybody lost confidence. And confidence is like the film of oil that supports tons of machinery to a considerable degree, the whole, towering American economy rides on it, Today, the economy is expanding rapidly. The population is rising. More people need more, want more, produce more, earn more, save more. And today, the stock market is near peak points in simple statis- tiscal comparison with 1928 figures. Some observers believe it is too high. Others say it bears little resemblance to the situation of that day. Major Differences They point out the differences between the periods. In 1'929 the population was 122 million, of which 48 million were employed. In 1954 the population had grown to 163 million, of which 62 million . were employed. The difference in billions of dollars was: 1929 1954 88 286.2 4 19.6 104 350 85 169 1.9 all Personal income Savings x-Gross product Listed stock value Stock exchange credit 8.5 estimated total value of DOUBLE DUTY—This "convertible" automobile owned by Alfred Perlrnan, president of the New York Central, takes to the railroad tracks near Weehauken, N. J. The car is equipped to ride on rails as well as roads so that Perlman's inspection trips are made easier. The car rides the tracks on oversized pneumatic tires, and has miniature flanged raiJroad wheels in front and back to keep the car on the tracks. Its speed on the rails is supposedly 35 mph* ;oday. Adjust today's stock prices and credit total to that fact, the analysts say, and today's market '; nowhere near the 1929 levels. They say, also, that the market now is an "investor's market," not speculative, backed by billions of dollars of holdings bought by huge trusts, pension funds and insurance companies not likely to unload riant blocks of stock on the market. Fear Persists Still, the haunting fear of 1929 >ersists. Dr. John K. Galbraith, Harvard economics professor, re- ently wrote: "The question inevitably arises whether a similar cycle of specula- ion and collapse could again oc- cur. The simple answer is 'Of course.' " But would a crushing depression follow again? , Legislation exists today, the so- called "built-in controls," designed to check any wild surges of speculation, and to operate against the forces that usually break loose in a chain-reacting slump. It may be that the United States already has halted two potential depressions since the end of World War II. Your children may never see another economic disaster on the size and scale that you witnessed. Tomorrow: How much safer are you today? goods and services produced. The stock exchange credit figures show the . money borrowed from vaults and other sources as reported by the New York Stock Exchange. Thus, in 1929, the credit in the market was equal to about 10 per cent of the total value of all the stocks. Today, it works out to about 1.134 per cent, Moreover, the dollar in 1029 was probably worth double what it Is FOR SALE GREEN BEETLE CAFE FIXTURES Located at 315 West Main St. This Building Rents For $60 A Month. Building Can Be Obtained For Operation Of Business. Will Sacrifice Fixtures. For Quick Cash Sale at Once! Call 3-8468 or 3-8274 you are cordially invited to meet DAVID BiSSETTE special representative for TIMELfCLOTHES ... and to inspect his comprehensive exhibit of the new Timely Clothes fabrics for the coming season. Mr. Bissctto will be glad to measure you personally for a Timely Clothes suit or topcoat in any fabric you choose from the exceptionally large variety in his collection. You may also specify the style and details you prefer, since the clothes will be tailored individually for you with the greatest of care. Every sample is available in your stock size at the regular stock prices. It will be just like having several hundred suits to fit you. Mr. Bisserte will be in our store all day Friday Jan. 28 Be sure to visit Hughes Friday Balanced Tailoring molet TIMELYO.CLOTHES look better...longer R. D. HUGHES CO. "When the Man Who Knows—Buys His Clothes" STARR GAZING By BETTYE NELLE STARR Courier News Staff Correspondent The keel of «"Le Griffin" was laid at Niagara Palls on this, day in 1679. This schooner was the first commercial vessel to sail the Great Lakes. Thomas Edison's first incade- scent lamp was patented on January 27, 1880. The first train that ran on the Panama Railroad Was on January 28, 1855. Edgar Allan Poe's "Raven," was published on January 29, 1845. It appeared in the New York Evening Mirror, under the name of "Quarles." On January 30, 1948 Mohandas Gandhis, was assasinated in New Delhi. Here's consolation for the bare spots on your grassy lawn, they are called "Fairy Rings." Supposed to be the dancing ground for fairies. Now to disillusion you. It is actually caused by a fungus growth. Personally I like the former definition better. Helps you not to grieve over it. Good Oie Arthur Godferey's humility is sometimes more than 1 can endure. Who couldn't be that- a-way with a bank roll such as his? The way he makes light of the sponsors' products is a crying shame. Makes me want to take him at his word and run out and buy the other fellow's product. What ever happened to those bejeweled pipes the young gals were buying last summer? Here's news for them. Throw those pipes away and buy yourself a be-jeweled snuff box. Latest fad in California. Ker- chew! Got any Christmas turkey left over? Scraps of it will work fine on this. It's caUed Turkey Tango and don't ask why, when mambo would do just as well. Use a glass of tangy cheese, sea' son with Worcestershire sauce, whip with a fork and add shredded turkey. Place the mixture on top of crackers, sprinkle with garlic salt and run under broiler. Watch it closely, there's nothing worse than burned cheese unless it's burned peanuts. Chicken would work too if you'll call it chicken reel, probably. Oh my aching back! Why wouldn't folks have the backache when there are 303 causes lor it? That just about covers, even the waterfront. • An old Polish proverb says, "Spring is a virgin, summer a mother, autumn a widow and winter a step-mother.' Another reason they claim this is a woman's world, I presume. And an old Latin proverb, which indicates this really is a woman's world is, "keep quiet and people will think you a philosopher." Men will wrangle for religion; write for it; die for it; fight for it, anything but live for it. Behind an able man there are always other able men. A wise man knows everything; a shrewd one, everybody. He that Is over cautious will accomplish libtle. Remember that when the question comes up in bridge. Should I or should I not open on fourteen points, or 3 ! /s honor count? Remember what the masters say, bid. At 20 years of age the will reigns; LITTU LIZ— The woman who's tried «vtfy- rhtog under the sun to get a man might try moonlight. *MA« at .30 the wit; at « the judgment. Never give advice in a crowd. There are three faithful friend*; an 014 wife, an old dog and plenty of ready cash. They say a man should be taller, older, heavier, uglier and hoarser than his wife. Some men never grow up a* the old saying goes and to prove it, see where Sonny Tufts is being sued for the second time, if you'll pardon the pun, for gnawing on a chicken's drumstick. They DO say etc. Just as the Rev. Mr. Coulter, minister of East View Baptist Church in Meridian, Miss., was delivering his sermon describing the fate of those who face hellfire, smoke poured frcm the pulpit, caused by a short in the wiring of an amplifier concealed in the pullpit. Bet a lot of the congregation thought they were really fouled up, to say nothing of the commotion that must have taken place for bringing them an illustrated sermon. I guess I have a sense of humor all of my own which naturally is peculiar to the other fellow, but ieorge Goble just doesn't send me. It s me I'm sure, because folks give me a funny look when I express my opinion of George, I think he's down right corny as a comedian, too bad he quit plucking his git-tar for Gene Autry. OSGEOLA NEWS By Bettye Nelle Starr Mr. «nd Mrs. Arthur Roger! had as their Kuwto this week, Mr. Roger'? !l»ter. Miss Emma Rogers of New Albany, MlM. and Dr. and Mrs. David Guyton of Blue Mountain, Mlsi. Dr. Guyton was guest speaker Tuesday at the Rotary Club. ' The Builders Claw of Calvary Baptist Church complimented bride-elect Miss Joyce .Slsco with a surprise shower Thursday evening at the home.of Mrs. Chester Hayes with Mrs. Chester Walker and Mrs. Richard Henderson as co-hostess. Mrs. w. B. Stewart, sister of Miss Sisco, was a .special guest. Bridal games were played during the evening with prizes going to Mrs. Stewart and Mrs. Russell Chiles. A blue and white color scheme was carried out in the decorations. Saturday night Miss Slsco became the bride of Charles McFarland. They left immediately for Missouri for a brief honeymoon. Mrs. McFarland is secretary to the manager of Ooceola. Chamber of Commerce. Mr. McFarland Is employed at Oeceola Foods Inc. They will reside on West Union. Mrs. Ely Driver Is hostess today to the three-table pitch club at her home. Mr. and Mrs. Bill Cromer have returned home from a winter vacation at Gulf Shores, Ala. Harlan Starr is spending the week between semesters with home folks before entering Ole Miss next ween to begin his junior year in college. Harlan attended Arkansas State '•allege for two years. Miss Betty Claire Bowies entertained informally Friday night following the basketball game. The young people met at her home to spin records and dance. Refreshments were served during the eve- ning. Mr. and Mrs. Jlmmie Herndon and family spent the weekend la Nashville, Tenn., returning home late Sunday afternoon. Wade Quinn, Jr., and John StrickUng, Jr., students at Memphis State, are spending ten dayi between semesters with their families. Dr. and Mrs. George Cone, Mr«. W. R. Wellborn and Joe Wellborn were weekend visitors at Bear Creek Lake. Dr. and Mrs. Cone own * lodge there and are frequent visitors to the lake. Thirty of the 32 members of the Junior Service Auxiliary gathered at the Semlnole Club Monday morning to hear Miss Martha Wise of Warren, Ark. Miss Wise la executive secretary of the National Junior Auxiliary. Luncheon followed Mist Wlse'i talk to the group. The table was centered by an arrangement of pink gladioli and flanked by silver candelabra. Mis. Ed Teaford, Mrs. E. H. Ri- Icy, Mrs. H. E. Phillips, Mrs. Lloyd Oodlcy and Mrs. Milton Pope were Memphis visitors Monday. Mexico finally became free of Spanish dominion in 1822, with the crowning of Augustine de Iturbide as Emperor of Mexico. Coughs Relieve Coujhmj-Spells Stuffiness-Fast Hfectively wit* WADE FURNITURE COMPANY BRINGS YOU Scaly Natural Rest Reg. 59.50 ALAN BERRY FREDSANDEFUR BIPPINC Nationally Advertised Names! Just Look At These Values! FLOOR SAMPLE SALE SEALY Mattresses and Box Springs Scaly Dreamer Reg. $39.95 Only Sealy Good Housekeeper Reg. $49.50 95 39 50 Sealy Rest Reg. $69.50 Only 50 50 DOWN MATTRESS and BOX SPRING — full or twin sizes Foam Rubber Mattress with Box Spring $9995 $10 Down Reg. 139.50 3-3 Hollywood Bed 5KQ50 Complete WADE FURN. CO. Trad* With Wade And Save 112 W. Main Phon. 3-3122 * PUT YOUR BEDDING ON YOUR FURNITURE ACCOUNT! •

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