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MARKET GOOD BUSINESS BAROMETER.
It is interesting to note the three phases through which the
stock market went in the last six months. Composed of the con
tinued, unprecedented rise which started in March, 1935, and
continuing until April, 1936, the market fell off sharply between
April 6 and 29, but then boomed again in a startling drive which
produced an astounding fact.
The prolonged gain in the market which started in 1935, far
exceeded the expectations of the country’s most experienced
traders. Based on moderate volume of trading, the rise gave way
in the first part of April to the natural reactionary drop which
was want to follow the sustained rise. The margin law which
made its debut at this time then gave birth to a function which
although appears unsound, had the effect of sending the market
back to its former position not in the matter of volume, but
strictly in regard to prices. On April 1, the requirements
were boosted in order to allow the borrowing of the customers
from the brokers, and on May 1, those same requirements were
raised for the express purpose of allowing the brokers to borrow
from the banks.
Then too, there were many other factors which had the tend
ency to control volume; the political outlook here at home, the
taking over of the reins of the French government by Premier
Blum with the Socialists and the Italian-Ethopian controversy.
These glaring facts naturally would serve to unsettle the general
outlook of the market in relation to volume. It must be borne
in mind that the least tendency of the. world at large to become
the least bit shaken in public confidence would bring about a
reaction on the market, which after all, is the barometer of
the world’s business. It must be borne in mind that the whole
world suffers from a depression collectively, and at the same
time, recovers in the same manner. Perhaps this fact is the solu
tion to the discovery that the London market is running prac
tically parallel to that of the United States. The British are
faced with the same problem of price ranges overlooking volume
as we are on this side of the Atlantic.
But the one happy realization confronts us at this time.
The sharp drop which continued throughout April is now being
replaced with a slow and hesitant recovery which appears to
make up for all the lost ground suffered in the drop. As this is
true, then we must know that we are on the right track and that
recovery is on the way to the world at large.
OUR READERS’ FORUM
(AU communications intended for pub
lication under this heading must bear the
name and address of the writer. Names
will be omitted on request. Anonymous
letters will not be given any attention.
The widest latitude of expression and
opinion is permitted in this column so
that it may represent a true expression of
public opinion in Savannah and Chatham
County. Letters must be imited to l«0
words.
The Savannah Daily Times does not
Intend that the selection of letters pub
lished in this column shall in any way
reflect or conform with the editorial
views and policies of this paper. The
Times reserves the right to edit, publish
or reject any article sent in.)
Editor the Daily Times:
I noticed in the Savannah papers
on May 22nd. 1936, where our gov
ernment is going to start a liquor
drive and that dry states will be re
cognized. This is the best news I
have read in a long, long time, and
I sincerely hope the government in
cludes Georgia in its recognition of
dry states.
What, or who, is considered a boot
legger? A man who is caught with
liquor, arrested and convicted of
violating the prohibition laws just
because the liquor he possesses failed
to have a government stamp on it,
or the man who has possession of
government stamped liquor and sells
it without a state or city license?
In my opinion, they are both in the
same class, both bootleggers. Yet our
police department allows the govern
ment stamped liquor to be sold. Are
they discharging their duties as they
promised to do When employed? Or
are they pleasing a particular group
of people in Savannah.
All Os Us
THE WAY IT IS
AN ARTIST has an idea for a
drawing.
Let us suppose it is a cartoon on
this page.
He sits and thinks about it, plans
its arrangement, gets out his clean,
white paper and his pens, goes to
work. Probably he pencils it in, then
inks it.
Then it goes to the engraving room
. . . First it is photographed. And
etched on metal. And the metal cut
is prepared for the composing room.
Next it moves out to the flat form
where this page is made up. Some
times the newspaper is printed direct
ly from this cut, from this type you
are reading . . . But not usually these
days.
In most cases the metal form is
locked and lifted onto a heavy metai
table and a soft, square of- cardboard
la placed on it . . . Then it is moved
under a powerful roller under pres
sure, and that cardboard takes the
Imprint of every letter every line of
About two months ago I happened
to be in conversation with a high
city offcial, mentioning that fact that
liquor was displayed in many of the
places where beer is sold. He, having
the authority to do so promised to
have this matter investigated and
stopped. About a week later I went
into a place with someone else, who
went on business and I saw at one
of the tables three men, on the table
two bottles half full of beer and
another bottle half full of whiskey.
This particular table could be seen
from the street. Such is a great tempt
ation to our young men and women.
Yet, what are we going to do about
it? What will our boys and girls
be if these conditions continue to
exist?
I also noticed in this paper same
date where a certain man was sen
tenced for violating the prohibition
law. Why is it that the police depart
ment picked on one man when there
are so many more that are openly
doing the same thing? The law should
be enforced and without any partial
ity. What are we going to do about
it? The biggest trouble with us is
we depend too much on the other fel
low. Let him do It, well, he can’t do
it by himself always, he needs some
help. If I can get eleven men to
see things as I do, to help me, we
can accomplish something. Ask your
self, will I be one? If you want to
help, drofi me a card. Liquor con
tinues to be displayed.
P. A. MOISE,
414 E. Charlton Street
the drawing.
The cardboard, or “mat”, goes
downstairs, where it is placed in a
machine into which liquid metal
flows and out comes a half-cylinder
about an inch in thickness, of the
shape you’d get if you sliced in half
one of hose old-fashioned cylindrical
phonograph records.
i This half-cylinder is locked onto a
press as big as a two story house .. .
> It purrs, growls, roars and out comes
; your newspaper with your artist’s
idea translated into line and ink and
paper.
What a lot of work, what a lot of
; activity before that artist’s idea for
, one cartoon appears in the paper be
i fore your eyes!
He looks at it and if he’s like the
. artists I know he says to himself:
i "That’s terrible! I could have done
• it a lot better than that!”
That’s the way you are, too . . .
j You have great ambitions. You carry
i them through the roaring press of
I life. Then you look at yourself and
I say you ought to be a lot wiser, strong
. er than you are . . . Don’t cry about
» it . . . You tried and it was well
r wnr+'h
ANOTHER COAST TO COAST HOOKUP!
* ‘fl
l4O
f I \ -''GT • /»■ *-4. uY ,
'/i- K\
s Bin
—WASHINGTON AT A GLANCE-
THIRD PARTY FOLK
Including Lemke, Townsend and Rev. Smith
NOT IN AGREEMENT
By CHARLES P. STEWART
Central Press Staff Wrtier
WASHINGTON July 2—Just as
I predicted (it’s nice to have made a
fulfilled prophesy), the groups Con
gressman William Lemke was count
ing on to combine in support of his
Union party presidential candidacy
are failing to get together.
Dr. Francis E. Townsend already
expresses doubts of his old age pen
sioners’ liking for the Lemke move
ment. At first the doctor seemed
rather friendly toward it. Now, how
ever, he says that the old age pen
sioners won’t make up their minds
before their meeting in Cleveland,
July 15-19. He suggests that they
may prefer to name their own candi
date, ignoring Lemke.
The trouble with these third party
folk is that they don’t agree among
themselves. Instead of forming a
third party, when it comes to a show
down their idea is to form several
different and conflicting Independent
parties, thus offsetting one another
Differences
Perhaps, as Dr. Townsend fore
casts the old age pensioners will
pick their own candidate. Perhaps not.
Either way, it’s clear from the doctor’s
SCOTTS SCRAPBOOK by R. J. SCOTT
copyrTcht. 'i?36. central press association
in • ~
771 - 1 A 5
~ ** by fire
11 between
D and 1666
’ im 798 '
S |2J Z ANP |
<Me.
, IN <HREE DAO/5
FLOOD oF 1913 iMltlEoHlO VALLEY
CLAIMED 415 LIVES AND DESTROYED
$ 180(000,000 oF PROPERTY, INCLUDING
destruction of over '
400 BRIDGES ANp
FLOODING OF 60,000
BuiLDINqS
J
Central
ASIA, A WOMAN IS 4 -| 4
forbidden 4o marry
UNLESS SHE REACHES
CERTAIN HEIGHT ST. BARNABAS
AND ENTbMBED-CYPRUS
WEIGHT/ STAMP oF 192.8
SAVANNAH DAILY TIMES, THURSDAY, JULY 2, 1936
comment that they’re not wildly en
thusiastic for Lemke.
Lemke makes his appeal especially
to agriculture, by a method involving
monetary inflation. On that basis one
might suppose he could command the
backing, for example of Senator El
mer Thomas. Thomas is from Okla
homa, as agricultural a state as
Lemke’s North Dakota. He also is an
Inflationist. Nevertheless no Thomas
onian cheers are heard for Lemke.
Why? Why, Thomas knows that
Lemke doesn’t stand a Chinaman’s
chance. It pays him better to stay
at least nominally Democratic.
Labor shows no signs of getting on
board the Lemke hearse. It sizzles
with third party sentiment, but not
for Lemke’s kind of a third party.
• • •
Long’s Followers
The Rev. Gerald L. K. Smith, who
has assumed that he is the late Sen
ator Huey P. Long’s successor ap
pears mildly Lemke-ish. but the ma
chine Huey Long organized manifests
a disposition to toss the Rev. Gerald
L. K. Smith overboard as its leader,
not caring to tie itself up with a los
ing venture.
Neither the Wisconsin Progressives
nor the Minnesota Farmer-Laborites
gravitate Lemke-ward.
Father Charles E. Coughlin and
Senator Lynn Frazier are the only
outstanding Lemke-ites I know of.
And I wonder if Father Coughlin can
deliver his following at the polls. As
for Senator Frazier, he was co-author
with Representative Lemke, of the
Frazier-Lemke bill, upon which the
bill having been lost in the last con
gress, Lemke is basing his campaign.
In such circumstances he hardly can
be otherwise than pro-Lemke. Paren
thetically it’s noteworthy that Fraz
ier’s North Dakota colleague, Senator
Gerald P. Nye, is noncommital.
Lemke’s Hope
Congressman Lemke surmises that,
with his Union party in the field, no
candidate will win an electoral ma
i jority-over-all and, consequently, that
the presidential decision will be
thrown into the house of representa
tives.
It’s the height of an improbability.
The same prediction was made in
1924, when the late Senator Robert
M. La Follette a far stronger cnadi
date then than Congressman Lemke
is at present, was.a thi?d party as
pirant, and the senator carried only
his own state of Wisconsin. A similar
prediction was made when Theodore
Roosevelt ran as a Bull Mouser and
he couldn’t do it. •
Congressman Lemke flatters him
self.
I Well, That Is Different!
Vistor—“l can’t understand how
your love for books brought you here
to prison.”
Prisoner—"lt was my love for
pocketbooks, lady.”
ONE MINUTE PULPIT
Let us eat and drink; for tomorrow
' we shall die.—lsaiah 22:13.
-WORLD AT A GLANCE -
CAMPAIGN STRATEGY
(And Errors in Opposition Parties)
BEING DISCLOSED
By LESLIE EICHEL
(Central Press Staff Writer)
President Roosevelt’s Philadelphia
speech has had a favorable reaction.
It towered above the mass of verbiage
in a too-long drawn-out convention.
More, it has set a pace—and a stand
ard.
Republicans realize it would be
folly not to recognize that. They are
beginning a shrewd, “silent” cam
paign of their own to counteract the
president. Governor Landon, it will
be observed, is living a simple life.
His efforts will be contrasted with
the “showmanship” of the Demo
cratic candidate.
And although Governor Landon is
a comparatively wealthy man and
President Roosevelt is not, the pic
ture drawn may be that of a silent,
simple, cautious man as against an
‘ extravagant” landed squire.
* * *
Errors?
John D. M. Hamilton, the national
Republican chairman, however, has
made some errors. In his enthusiasm
to beat the Democrats to the gun, he
actulaly has lost some ground.
MyNew York
By
James Aswell
New YORK, July 2.—When the
summer theater movement first be
gan to take hold of the imagination
of the citizenry a few years ago and
every hayloft within a radius of a
hundred miles was likely to contain
Ina Claire or Osgood Perkins on a
summer night, there was a lot of talk
about how these sylvan temples of
Thespis would “give the young and
experimental playwright a chance.”
The assumption was, of course,
that the young and experimental
playwrights often could get to first
base with the hard-boiled producers
of Broadway, whose eyes glinted for
ever yellow with the lust for gold and
whose souls never vibrated to the
non-commercial poesies of the young
and experimental playwrights. Such
bold and gripping dramas would be
unfolded in the suburban barns that
a cry spontaneous and not to be de
nied, would thunder from the throats
of the playgoers to have these geni
uses given their just deserts of fame
and, if they liked, Hollywood.
Alas, there is no case, so far as I
know, of a first rate play being un
veiled among the cows which would
not have be nesnapped up by Broad
way had it been sent the rounds there
first. The summer theater is as
popular as ever yet the trend is more
and more toward the proven commer
cial successes of Broadway. The su
burbanites, in some cases, have begun
to exhibit a stubborn recalcitrance,
when it comes to paying money to
witness all the crude and rejected
scripts that were knocked around in
bureau drawers of the metropolitan
area.
Take the case of one of the best
known of the Summer theaters, the
Westchester Playhouse near Mount
Kisco, N. Y. The management, I am
told, has decided to confine its 1936
program to such seasoned plays as
“Personal Appearance” and "Fresh
Fields.” It will produce a few new
plays, if it can find them, and all of
the plays imported from Broadway
will not be in the smash-hit category.
Sometimes a moderate-money play,
! or even a semi-flop, will do well
enough where the gay week-enders
gather, brown from tennis and cheer
ed, it may be, by a number of long,
cold drinks on country house ter
races.
But the burden of my sermon to
day is that there is no abundance of
first rate plays knocking around and
needing only a courageous and art
conscious sponsor to give them foot
lights. And, taking one thing with
another, the Broadway boys are just
about as willing to take a chance on
something giddy and novel as the be
frocked and bohemian Belascos of the
suburbs. Indeed, they pant for fair
to-middling scripts with any sort of
adaptability to the spoken drama, so
poor are the pickings from the mss.
which descend upon their offices day
after day.
If there were plenty of good—or
even literate —plays pouring into the
producers’ offices it is conceivable
they would discard the artier and
more far-fetched efforts in favor of
pieces which seemed sure-fire, how
ever low-brow these might be. But
they are desperate: the bulk of the
so-called plays submitted to them are
of the sort written by railroad fire
men in spare time on wrapping pa
per. Or they are of the sort produc
ed by graduates of correspondence
courses in playwriting—neatly typed
and professional-looking and hackney
ed as a campaign speech.
Thus we have seen ordinarily sane
and even shrewd professional produc
ers putting on all sorts of weird and
phoney drama. We have witnessed
the inrush of the propagandists—the
scribblers George Jean Nathan calls
Little Red Writing Hoods—with their
painful psychopathic complaints
against their betters! If there had
been a dozen fairly competent unpro
duced playwrights hiding in the gar
rets of Manhattan on one would ever
have heard of any of them; or else
Clifford Odets, Elmer Rice (in his
second manner) and others in their
club, would have been compelled to
settle down, stop whining and turn
out straight, dramatic plays for the
royalties they love so well.
And, given a number of Industrious
and talented unproduced piaywrignts
hammering from below, people like
the fantastic M‘kt Gold could not
even have gott m a job with the
WPA theater.
The sad fact is that there axe no
unsung Miltons or even unsung Anne
Nicholses hiding in the playwrighting
woodpile, so far as the most diligent
searchers can discover.
For example, it was straightforward
bub not wise to visit Oil Magnate
Pew in Philadelphia during the Dem
ocratic convention, to discuss the Re
publican war fund. Mr. Pew, chief G.
O. P. fund raiser, guaranteed a large
one.
It will be.
A person need merely to traverse
the financial districts of New York,
Philadelphia, Pittsburgh, Boston and
Chicago to ascertain the hatred of
Mr. Roosevelt’- The same is true in
smaller financial centers.
The Republicans say they are fight
ing an “immense” Democratic cam
paign fund in form of relief expendi
tures. Even so, the flaunting of mil
lions coming from industrialists will
have a contrary effect on the mass
of voters.
In fact, it lends point to the presi
dent’s speech—underscores it.
Then, Hamilton evidently made a
break, also, in welcoming tha Cough
lin-Lemke party—not because he de
sires to see it win, but because it will
take votes from the Democrats.
The new party is abhorrent to Re
publicans—as it has as its chief plank
the revelation of money.
To invite such a party to step in
to take all it can, on the chance that
it is Ikiely to take more from the
Democrats than from the Republic
ans, does not seem sound judgment
to many G. O. P. leaders. An inde
pendent movement can become more
damaging than a known opposition
party.
Favoring F. D. R.?
Father Coughlin's continued asser
tions that President Roosevelt’s poli
cies are communistic and that people
who favor them are communis'ticEllly
minded also are having a reverse
effect.
Opposition to Fathei- Cougl| in has
been trying to pin on him the Fas
cist badge—and now that opposition
believes it has the circumstantial evi
dence .
Democrats think the president will
gain through the Coughlin attacks be
cause liberals—which includes many
workers—were disappointed in the
generalities of the Democratic plat
form.
Now, here is Father Coughlin say
ing that the president, in spite of the
restrained platform, will do exactly
what the liberals hope he will do.
And, in another breath, the Cough
lin-Lemke-ites assert the president
does not go far enough—on mone
tary changes. That in turn may
bring “sound money” men to the sup
port of the president.
To the charge of "communism,”
the New Dealers will beg x. question:
“Is it communistic to regulate the
hours of labor, to protect the rights
of collective bargaining, to restrain
monopolies, to prohibit child labor, to
guard the public welfare? No? Well,
then, how can one accomplish this
except by placing the power into the
hands of the government, even if
amendment to the constitution is
necessary? And what is communistic
about amending the constitution?”
Co-operatives
An article by Henry A. Wallace,
secretary of agriculture, in Scribner’s
magazine, is attracting attention.
Wallace asserts that, to save democ
racy, competition must be abandoned
in favor of “co-operatives of consum
ers, of producers and ultimately of
industries.”
He adds that the supreme court, in
the AAA decision, “chose to interpret
the constitution in the light of a
handicraft) age.”
He continues:
invoked by the supreme court, was
‘The doctrine of states’ rights, now
a barrier to progress even in 1787,
and was the cause of a terrible con
flict in 1861. Today the states mark
no economic boundaries that make
sense, and they provide only limited
instruments for action to meet mod
em problems.
"Long ago the great corporations
managed to break down states' rights
when they interfered with corporate
expansion. Today it is clear that,
states’ rights are being invoked not"
for the rights which they defend, but
privileges they protect.
“They are being invoked by groups
which have already obtained central
izing powers under government but
which, by this means, seek to pre
vent extension of centralizing power
to other groups such as farmers and
labor.
“Oply the large corporations, the
Republican party, New England, the
Liberty league and most of the news
papers of the country are apparently
for states’ rights today.”
The Grab Bag
One-Minute Test
1. Name the governor of the Phil
ippines.
2. How is malaria spread?
3. Give the literal meaning of the
Latin phrase, “sanctum sanctorum”.
Hints on Etiquette
When a man asks as question of a
woman he does not know, or directs
her attention to something, he should
raise his hat as he speaks.
Words of Wisdom
There is no virtue so truly great
and godlike as justice.—Addison.
Today’s Horoscope
Persons born on this day have a
desire to be know and usually are
iOnd of teaching. They are loving
and expect to be loved in return.
They are not often disappointed in
anything.
One-Minute Test Answers
1. Frank Murphy.
2. The germs are carried by a mos
quito.
3. It means “Holy of Holies”.
Well, as I was saying before I was i
so rudely interrupted—l may be mis
taken, but THIS is my opinion. I
+h‘-'k—
Today is the Day
By CLARK KINNAIRD
Copyright, 1936, for this Newspa
per by Central Press Association
Thursday, July 2; morning stare:
Mercury. Saturn, Uranus, Mars. Eve
ning stars: Venus, Neptune, Jupiter.
Jupiter is again close to the moon.
Zodiac sign: Cancer. Birthstone ruby.
♦ * »
NOTABLE NATIVITIES
George Williams, Cardinal Munde
lein, b. 1872, R. C. archbishop of Chi
cago . . . Louis W. Douglas, b. 1894,
one-time director of the budget . . .
Olaf, b. 1903, crown prince of Nor
way ... Dr. Frederick P. Keppel,
b. 1875, professional philanthropist,
president of Carnegie Corporation
. . . Robert Zuppke, b. 1879, famed
college football coach who never play
ed on a college team . . . Jack Hyl
ton, b. 1892, orchestra leader . . .
TODAY’S YESTERDAYS
July 2, 1750 —Francois Huber was
born in Switzerland. He learned first
most of what is known today about
bees. Yet he, like at least two famous
astronomers, was blind. He had others
make observations and made his de
ductions from them. Thus, he said,
he eliminated any chance of error
that might occur from one observer
and solved age-old mysteries about
the creatures which were the source
of the world’s sweetenings before the
development of cane and beet sugars
in comparative modern times.
July 2, 1774 —William Goddard, edi
tor of the Maryland Gazette, pub
lished at Annapolis, published an edi
torial destined to have a decisive ef
fect upon our history.
Goddard called for an independent
postal system in opposition to that
of the British government, because
letters carried by post riders of the
Crown were subjected to tax and par
ticularly to espionage, and he pre
sented a plan of operation.
The editorial was circularized
throughout the colonies and caused
the establishment of “constitutional”
post routes between Portsmouth, N.
H., and Williamsburg, Va., over which
flowed the secret correspondents
which finally drew the principal col
onies into co-operative union and
made a successful Revolution possible.
Goddard himself was given the job
of opening up roads and post routes.
You look in vain in most histories
for mention of Goddard’s name. Born
in Connecticut in 1740, he established
the firstprintshop at Providence,
where he established the Gazette, and
was a pioneer in journalism in New
York and Philadelphia before going
to Annapolis.
July 2, 1776 —Goddard’s good words
bore fruit: the Continental Congress,
sitting at Philadelphia, adopted the
resolution of Richard Henry Lee of
Virginia that the colonies should de
clare themselves free and independent
states.
The Philadelphia Evening Post, the
first newspaper to announce it, de
voted only three lines to the event:
“This day the Continental Congres:
declared the United Colonies free and
independent states!” A notice of «
runaway slave took four times as
much space.
As has been repeatedly stated in
this column, July second is the real
Independence Day.
The resolution of independence was
simply a declaration of what had al
ready taken place, for prior to it,
seven states had set up independent
governments, four had drawn up con
stitutions, and Massachusetts had
adopted a provisional government.
15 Years Ago Today—The World
war ended. The United States was in
a state of war with Germany as
long as Great iß'riatin or France, for
it was not until this date that Presi- 1
dent Harding officially proclaimed
the war at end. The armistice had
prolonged, of course, «y the differ
ences in congress over the peace
treaty.
Thus it is that thousands of men
who did not enlist in the army or
navy until after Nov. 11, 1918, ar<
rated as war veterans.
July 2, Among State Histories:
1776—Women’s suffrage was adopted
in New Jersey ... 100 Years Ago
Today—Congress authorized the first
“express mail,” to convey newspapers
and letters faster than ordinary post
routes. Triple rates were charged. The
system cut the mail time between New
York and New Orleans from 13 days
to six, which is about what it takes
now, if you ask us . . . 1881—Presi
dent Garfield was fatally shot by an
assassin in Washington . . . 1890—
Sherman anti-trust act became a
law.
♦ ♦ ♦
FIRST WORLD WAR DAY-BY-DAY
20 Years Ago Today—The British
attack on the Somme eased for day,
of necessity, for every regiment of
every division had been shattered in
the first day’s terrific impact. The
British losses there were correspond
ingly greater than tho»e of the Ger
mans at Verdun, a fr/it denied until
long after the war, when Winston
Churchill admitted it.
William Seaver Woods, in “Colossal
Blunders of the World war,” which
we quoted here yesterday, also has
this to say of the Somme:
“The German commander-in-chief
knew the effort to pierce his line
would fail; but the British leaders
did not seem to sense it, and kept
up their costly assaults from mid
summer until - the middle of Novem
ber.
"The failure to realize the facts the
situation were laid by Hindenburg
to a lack of imagintaion . .
A little imagination, for example
might have led the British com
manders to suppose that mountainous
and elaborate preparations on a cer
tain sector for a mighty assault would
cause the Germans to make equally
complete preparation L
nable defense.
n-h3 hat ’ 88 matter of fact, was
what occurred. The German lines
were equipped with bomb-proof caves,
dug-outs and cellars where men took
refuge during the preliminary bom
bardmnet, an dthen rushed out as the
barrage lifted and mowed down the
advancing British with hundreds of
wheat ” G BUnS aS reapers mow th«
(To be continued)