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National Topics Interpreted A_g "E‘@-fl!fl%
by William Bruckart {‘mmllill? i
pal Press Building Washington, D. C, Q‘ II-
hington.——Wal] Street and the
ies market generally have
been undergoing a
Case of bad case of the
itters jitters. It has
been several years
fhose dealing in money and
s of stock have been so un
in as to the future and this
ainty obviously is the cause of
iters among all people who
e in the stock market, whether
abbling be small or large, on,
in or for cash.
wems a proper time, there
o examine the picture and
see what lies beneath. And,
hasten to say at the very out
¢t anyone who makes a posi
statement about the securities
¢t these days must be either
)or a superman—and thus far
permen who have lived on this
number only one. ‘
t that fact does not destroy the |
of an examination of a con
which exists as a fact. In
| I think a review of the various
rs and influences at work now
provide a clarification of gen
conditions even though it may
uterly to show why men and
en act as they do with respect
k market investments.
st, it should be said that Wall
t, as the term is commonly
| is not unanimous within it-
The violent fluctuation of mar
securities in the last several
might easily be said to be
the war crises in Europe and
Far East. Only, those fluctu
are not traceable to war con
. Rather, the war conditions
ed by some individuals as an
e—an alibi to themselves be
-4 they fail to fathom the vari
influences and factors now at
said that Wall Street _lacked
imity within itself. That is true
e within Wall Street there
kinds of selfish groups oper
. For example, an influence
inflation is highly pleasing to
brokers and dealers in shares
e the same influence fright'ens
ers and likewise gives a sick
g feeling to those who must
raw products. Bankers and
d investors as well as tax pay
generally would be quite happy
the Federal Treasury’s budget
ced because if that were done
would be a much greater
of security, of safety for those
ments,
L e
dozen other illustrations could
iven to thus illustrate the point
and show why
ck Case Wall Street can-
Involved not agree. They
do not show, how-
T, why there is so much uncer
%y and why the bulls or the
IS have been unable to adjust
selves to the future probabili
» The reasons, therefore, must
deeper, It ig possible that the
intment of Hugo Black of Ala
@ as an associate justice of
Supreme court of the United
s has had more effect on the
ness world than any of us real
- T'have heard a number of cor
dlion executives say that they
they will never be involved in
dtion which will carry their cor
dtions before the court on which
Black sits, If they entertained
tff—‘al' before, undoubtedly the
' Is deeper-seated and more
pread now that Mr. Justice
¢ has been publicly accused of
lding a life membership in the Ku
Klan, Certainly the expose of
Yphoon that is swirling around
head of the new associate jus-
Q‘Cannot have any soothing es
- pon the minds of those busi
> Men who, as corporation exec-
Ves, are trustees of vast sums of
People’s money. Undoubtedly,
less M, Black can prove that he
"t affiliated with the Ku Klux
i few litigants will feel safe be
"¢ the Supreme court.
Then, there comes the resignation
James M. Landis as chairman of
¢ securities and exchange com-
Ssion which regulates operations
the great stock exchanges. Mr.
l;’d‘s has been regarded as rather
ting CO€T just, in his dealings re
is .0 stock market operations.
s rement to return to a pro-
Orship in Harvard, of course,
s:s up thF question as to his suc
& This is to say that most of
ay?:anmal world is hoping and
t o b that the new chairman will
o O at a tangent; that he will
wil;”‘“’e“fle radicalism and that
al gt 0t blame the whole finan
fucture for the crookedness of
Part of it,
Thus, it becom
this minor factoresmiayS};l;?, see how
with some individuals deglivx:elgm
corporate shares and bonds gW'lln
liam O. Douglas, a member of t}lx
commission, has been slated to b .
come chairman but development =
recent weeks give considen sbm
doubt over that result. Mr Dra .
las is recorded as bein Al
Bankers and investorsg ?nradlcal'
parts of the country fear thatrrilfarl‘)y
| 18 made chairman he will beco :
not unlike the famous bull in a ch'me
cabinet. But, according to the o
glercurrent of gossip around W, lfn-
ash-
ington Mr. Douglas has done some
thing to offend Postmaster General
Farlgy, and no man can draw aan
appointment as important as th
chairmanship of a great commise
sion without Mr. Farley’s approval
Aside from personalities, varioué
phases of President Roosevelt’s
monetary policies continue to be dis
turbing and in addition to these
there is the certainty that new taxes
must be levied. That is, new taxes
must be levied if we are ever going
to l_)alancg the federal budget and
begin paying off the gigantic nation
al debt which now amounts to more
than 38 billion. With a debt at the
highest point our United States ever
has known, a great many people,
including bankers, have become
fearful of what they might get for
United States bonds that they now
hold. It is obvious that this influ
ence adds to the general uncertainty
although it is difficult to measure
the exact influence of this condition,
or to see whether it is a major or
a minor factor.
* % %
~ Having enumerated a few of the
influences known to be at work, we
Bous come now to that
"“f'“' condition which
Conditions heretofore always
has been basic. I
refer to general business conditions.
New Deal press agents have tried
vah_antly to make it appear that
pusxness is booming; that prosperity
is here instead of around the cor
ner; and that the country has noth
ing to fear. Careful examination of
official figures, however, show the
prosperity statements to be true
oply in parts. The official statistics
d_lsclose very definitely how some
lines of business are enjoying a vol
ume of trade or production higher
even than 1929. They show on the
other hand a vast number of fail
ures, an increasing number of big
businesses which are barely getting
by—which can continue providing
their present volume of business is
maintained. If the volume of busi
ness slips, however, that category
of business is going into a tailspin
as sure as the sun shines. If a
part of the business of the country
begins to sink—well, a part of it
began to sink in August, 1929, and
within two years the whole struc
ture had fallen like a house of cards.
I am not saying that we are con
fronted with another depression. 3
do say, however, that we are facing
a condition that is not at all satis
factory—a condition that can lead
to a depression as easily as it can
lead to sound prosperity in com
merce and industry.
-5 9
We have been dealing with causes.
Let us look at possible effects. It
will be remem-
Now, as bered how Presi
to Effects dent Hoover was
blamed for the de
pression. He and the Republican
party were punished on that ac
count and badly licked in the elec
tions. It ought to be said in Mr.
Hoover’s behalf that the conditions
which led to the depression had
their beginning long before he was
elected President. Indeed, they had
their real beginning in the World
war.
President Roosevelt came into of
fice as a result. He started doing
things and gaining the confidence
of the country to such an extent
that he was re-elected last year.
Probably he was re-elected largely
because of the bulk of the voters
feeling he was restoring prosperity.
1 doubt, however, that Mr. Roose
velt was any more responsible for
the return of a superficial prosper
ity than Mr. Hoover was responsi
ble for the depression.
But we are coming 10 another
election. If conditions should be
come worse and business should de
cline perceptibly again, Mr. Roose
velt will be held responsible just as
definitely as was Mr. Hoover. He
will be charged with having made 8.
mess of government and any at
tempt on his part to prove the con
dition was natural will be regarded
as an alibi.
© Western Newspaper Union,
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Voters of Albany recently ap
proved a $150,000 improvement bond
Issue at a special election.
William M. Mundy, Jr., Cedartown
attorney, has been elected president
of the Polk County Bar Association.
Efforts to secure a branch lab
oratory of the State Board of Health
for Dublin are being made by the
Laurens County Medical Society.
The Augusta city waterworks com
mittee has awarded a $400,000 con
tract for construction of a new filter
plant to Robert & Co., of Atlanta.
Work on the LaGrange-Franklin
Highway is nearing completion and
opening of the road is set for the
first of October, officials announce.
The State Department of Public
‘Welfare has received notice that 33
Civilian Conservation Corps will be
maintained in Georgia this winter.
The executive committee of the
Ocean Highway Association met in
Savannah last week to formulate a
plan to stimulate tourist travel along
the coast.
Augusta’s Central Labor Union has
favored naming the Clarks Hill Dam
or the new Savannah River Bluff
Dam in honor of the late Thomas J.
Hamilton.
The Lumpkin County Board of
Roads and Revenues has announced
no taxes will be levied this year.
This will be Lumpkin’s second “no
tax” year.
The United States Treasury has
launched its $70,000,000 three-year,
public building construction pro
gram by entering the market for
building sites.
H. D. Pollard, Central of Georgia
railroad receiver, announced at Co
lumbus recently that 600 new freight
carg costing about $1,800,000, are
being placed in service,
Ordinary G. R. Harrison has an
nounced the Franklin County tax
rate for 1937 will be 15 mills. In
addition, there is a county-wide
school levy of five mills.
The Greyhound Southeastern Bus
Company has leased 124 feet on East
Taylor Street, Griffin, from C. E.
Jones, and will build a large bus
depot there in the near future.
The Worth County Fair was held
September 21-25. There was a
large array of agricultural and live
stock exhibits and many community
and individual prizes were awarded.
The State Welfare Department has
mailed checks aggregating $164,046
for the payment of September bene
fits to 16,688 old-age pensioners, de
pendent children and blind persons
in Georgia.
The State Highway Department
has announced a project for paving
414 miles on the Milledgeville-Ten
nille Road in Washington County
was withdrawn from the letting on
September 24.
The United States Treasury De
partment has awarded contract for
construction of Summerville’s new
postoffice building to L. P. Galli
more, of Greenshoro, N. C,, The low
bid was $41,450.
The South Georgia Teachers' Col
lege at Statesboro had receipts of
$200,005 during the scholastic year
that ended June 30, according to a
report filed rectntly by State Audi
tor Tom Wisdom.
Warren County farmers kept o
close watch over their cotton fields
recently following an alleged at
tempt by farmers of an adjoining
county to entice their negro pickers
away by offers of higher wages.
Officials of the King and Prince
Club and Surf Hotel on St. Simons
Island have announced construction
of new buildings to replace those
destroyed by fire July 6 would begin
about November 1. Morgan Wynne,
president of the club, said the build
ings would cost about $385,000.
Just a year after the Newnan
Herald went to press the first time
in 1865, W. 8. Carmichael entered
the office and gubsceribed to the
paper. A few days ago, at the age
of 88, he again was in the office
renewing his gubscription for the
seventy-first time.
At the recent meeting of the Geor
gla Press Association, which met at
Adel, Jere Moore, editor of the Mil
ledgeville Union-Recorder, was ele
vated to the presidency of the Asso
clation, and Roy McGinty, Sr, edi
tor of the Calhoun Times, was elect
ed vice president, and the other offi
cers were re-elected. Several nota-
Dbles were present and spoke on the
progress of journalism and its future
advancement,
o - ”
Quotations
ol Ao
A strong and faithful pulpit is no
mean safeguard of a nation’s life.—
John Hall.
Fashion seldom interferes with
nature without diminishing her
graee and efficiency.—Tuckerman.
Deblay not till tomorrow to be
wise; tomorrow’s sun to thee may
never rise.—Congreve,
No tempting form of error is with
out some latent charm derived from
truth.—Keith.
There is always a great dispropor
tion between what one has done and
what one wants to do.—Madame
Curie.
The youth who follows his appe
tites too soon, only produces a man
hood of imbecility and an age of
pain.—Goldsmith.
AROUND ~‘ " Items of Interest
the HOUSE i ’ giFf o the Housewife
RodAA D TT T T
Discouraging Ants. — Prompt
disposal of garbage and other
waste materials around the home
will aid in the control of ants.
* * »
For Baking Cakes.—The center
of the oven usually has the most
even heat and is therefore best
for cake baking.
* * *
Cleaning Black Frocks.—Black
frocks which have become marked
with powder may be cleaned quite
easily by being rubbed with
crumbed, dry, stale bread.
*» * %
Heat - Retaining Tea Cosy.—
When next you make a tea cosy,
try lining it with chamois leather.
The leather retains the heat so
well that the tea will keep really
hot in the teapot to the very last
drop.
* * %
Inexpensive Fish Savory.—With
a smoked haddock, make this sav
ory fish dish. Remove the flesh
from the haddock, pick out skin
and bone, then chop the fish finely.
Season with a pinch of pepper,
and parsley and mix with a little
butter and two tablespoons of
Cutwork That Is
Anything but Work
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Pattern 5503,
“Cutwork without bars?” Ex
actly—and that's the very reason
this lovely Wild Rose design for
doilies or buffet set is so easy to
do. So encouraging, too, for the
beginner who'd like to try her
hand at it. Aren’t they life-like—
these roses? Delicate shades of
pink would be most realistic, of
course, but the pattern is no less
lovely if worked in thread to
match your linen. A refreshment
table set with these would be
most tempting! In pattern 5503
you will find a transfer pattern of
a doilie 11 by 17% inches and one
and one reverse doilie 6 by 9
inches; material requirements; il
lugtrations of all stitches used;
colar suggestions,
To obtain this pattern, send 15
cents in stamps or coins (coins
preferred) to The Sewing Circle
Household Arts Dept., 250 W.
Fourteenth St., New York, N. Y.
AT LTI >
. °
Your Advertising Dollar |
buys something more than space and circulation in
the columns of this newspaper. It buys space and
circulation plus the favorable consideration of our
readers for this newspaper and its advertising patrons.
Let us tell you more about it.
. ®
Favorite }eem,ae
oj the u/emé’v
Sour Milk Corn Muffins
1% cup corn meal 2 eggs, well-beaten
1% cups sifted flour 12 cup condensed
1% tsp. soda milk
115 tsps. baking 15 tbs. vinegar
powder 12 cup water
34 tsp. salt 15 cup melted
14 cup sugar shortening
Mix and sift dry ingredients.
Combine wet ingredients and add
all at once to flour mixture. Stir
Jquickly till all dry ingredients are
moist, but do not beat till smooth.
Pour into hot greased muffin pans
and bake in hot oven, 425° F.,
about 20 minutes.
| milk. Stir over a gentle heat until
| hot, add a few drops of lemon
| juice, then serve on hot buttered
toast.
* * &
: Sliding Drawers.—Laundry soap
| rubbed on dresser drawers that
| stick will make them work easy.
WNU Service,
LTI Ky
| LCLE L E
| P
P —
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| Many doctors recommend Nujol
| because of its gentle action on
the boweis. Don’t confuse Nujol
: with unknown products.
| INSIST ON GENUINE NUJOL
Copr, 1987, Stanco lne.
:' But Look
. It is not necessary to light a
candle to see the sun.—Sydney.
| How CARDUI
i Helps Women ‘
] Cardui is a purely vegetable medi
| l €¢ine, found by many women to ease
| functional pains of menstruation. It
. l flso helps to strengthen women, who
| ’ have been weakened by poor nour
‘ | ishment, by increasing their appetite
| and improving their digestion. Many
| have reported lasting benefit from
| the wholesome nutritional assist
‘ ance obtained by taking Cardui. If
you have never taken Cardui, get a
bottle of Cardui at the nearest drug
store, read the directions and try it.
s et
Without Faith
| The faith that stands on author
| ity is not faith.—Emerson.
A—
—
“BLACK LEAF 40
g sihs Keeps Dogs Away from
Get f Evergreens,Shrubs etc.
1= © 1556 54 114 Teaspoontul
Mw 5 per Gallon of Spray.
e et
Worms cause much distress to children and
| { anxiety to parents, Dr. Peery's “Dead Shot”
removes the cause with a single dose, boc.
i All Druggists .
| DrPeery’s
‘ PR . 1] M
14
vermifuge
[ Wrights Pill Co., 100 Gold Street, N. Y. Oity
Friendly Silence
Silence is a true friend who
i never betrays.—Confucius.
MOROLINE#
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