WHAT'S IT ALL ABOUT
What's It AH About By The Man On The Street Because o[ the widespread belief that panics are caused by gambling on the stock and grain exchanges, great interest is manifested in the coming...
...Since the victory of the...
...It is quite as easy to conduct gambling transactions under the rules of the board of trade as it is legitimate transactions," were the crushing words of this important decision...
...uf Milwaukee...
...They want to see the G. O. P. severely rebuked and yet made to shoulder full responsibility for failing to carry out Its glittering promises of 1928...
...The other day George was quoted in a Milwaukee newspaper as saying that something ought to be done to put a stop to the merger craze, because the great combinations "have obtained such a stranglehold in some fields of business and industry that the little fellow has boen squeezed out—henr* one cause of present unemployment...
...The Economist, an organ of the Chicago grain gamblers, complains bitterly of "the constant political harassment of our boards of trade and grain marketing systems, and legislative and administrative efforts to strangle them by regulation and inhibition.'' It calls upon all business men to fight "bureaucrats, demagogues and congressional socialists masquerading under the labels of the Republican and Democratic parties.'' The biggest masquerade party in history is that put on by the grain gamblers when they say they are the friends of the farmers...
...Ruth Hanna MrCormick may find that it takes something more than an immense bank account to enter the United States Senate...
...The Powpr Trust Is under fire in Sheboygan...
...An Investigation Ls demanded, ir the people are alive they will get back of the movement and fight the monopoly until they are granted fair and equitable rates...
...15, already is sending tremors through Wall street and 1a Salle street, and the interests which fatten upon speculation and its attendant demoralization are girding themselves for a desperate fight to prevent the passage of legislation which would put an end to their evil operations...
...The utter flop of the Hoover administration is shown by talk that Herbert may bo "persuaded" not to seek a second term...
...Senator Class is recognized as an outstanding authority on finance...
...Preparations are being made to close down the five tanneries of the Pfliter and Vogel Leather »*o...
...This is an old...
...This is the concern that made the great fortune of the late Charles F. Pfister, the Milwaukee millionaire traction magnate and newspaper and hotel owner who, with Henry C. Payne, Philetus Sawyer and .lohn C. Spooner were once the over-lords of the Wisconsin political territory...
...George, that's just what the Progressives have h«en preaching for years...
...Democratic leaders are credited with hoping that their gains in the approaching concessional elections will not give them a majority in either house because they don't want the administration to be in a position to offer an "alibi" in the presidential campaign two years hence...
...Chain-bank stock has proved a bad actor In the market for weeks...
...But the same might be said of other lines of business active in the recent unprecedented boom period.'' This proves, from a Wall Street, source, how lacking in truth is the hoary assertion of the stock exchange futhorities that they are always on the job of ridding their house of unscrupulous operators...
...When the committee begins unearthing the mass of scandals the prices will drop still lower...
...The chilling influences of the coming investigation has :caused the prices of seats on the stock exchange to shrink from $625,000 to $217,000...
...The Immense vote of protest is taken to mean that the bank, combine must be imstrajnolecL...
...It is charged that the rates in Sheboygan are 60 per cent higher than they are in Milwaukee...
...What an example of effrontery this is...
...Its re-appearance now, in the midst of a great depression, shows that the Wall Street gamblers feel confident that they can again hoodwink the public with their oily words...
...stork plea that years of sad experience have proved to be utterly dishonest...
...The Chicago grain gamblers are shivering since the Supreme court of Illinois decided that a speculator need not pay his brokers S55.000 because his transaction on the board of trade was gambling, the reason being that no actual delivery of grain had been intended when the deal was made...
...Progressives in the Wisconsin primary election the chain-bank stock has been notably weak...
...Friends of Owen D. Voting of New York are booming hrm for the Democratic nomination for president in 1H32 on the ground that it will take a great business man to drag the rountry out of the slough of despond and restore prosperity...
...They are employing propaganda in an attempt to discredit a' reform movement thai ha.s the earnest, sincere and intelligent barking of a great majority of the people...
...There is irony In the closing down of Ihis once mammoth concern during the...
...If they succeed, the people most admit that they are chumps...
...Significant of the low standards that prevail in some financial and buslnes Icles is this admission by a Wall Street writer: "Beyond question the records of the stock exchange for recent years would give a congressional committee much a: which to shoot...
...These were the bosses who always preached that business thrived under G. O. P. rule, for they were the original Stalwarts...
...The inquiry, which is to open Nov...
...Young's supporters will have to get a better argument...
...35 per cent higher than in Plymouth and 17 per cent higher than in Random Lake...
...It has been brought out every time the stock exchange feared the wrath of the people in the form of congressional action...
...Michigan contributes this Item to the Hoover Prosperity record: Barbers are accepting wheat in payments of haircuts...
...Why...
...We score a bnllsrye for this ,<>hot at the Power Trust by the Indianapolis News: "Somehow or other those utility fellows seem to think that, anything that doesn't yield a big, fat profit ls confiscation...
...The Wall Street argument against the sorely needed remedial legislation is that the governors of the New York stock exrhange have the power to discipline its member*—the brokers and bankers—and to make change* In the rules that will prevent wrongdoing...
...Two years ago he borrowed a large sum from what is now the Wisconsin chain-banking system to help the Con-serva lives finance their expensive state campaign...
...George Meredith ii one of the most prominent Stalwarts in Milwaukee...
...The people point out that prices and profits in other lines having fallen, they can't see why they should be forced to continue to pay such high rates for the electricity they use...
...The Wall Street crowd is telling the public that the governors of the stock exchange are powerful men who can do more to correct abuses than •inexperienced, uninformed congressmen...
...Certificates of (he Wisconsin concern have been selling for about one-half the price that, was reached when the monev project, was launched a year ago and many unit bankers were scrambling m set In on whal appeared to them as a good ihins...
...And this statement is handed to the people when the police are looking for a slock promoter who skipped out leaving his victims to mourn a loss of $12.000.000...
...What's It AH About By The Man On The Street Because o[ the widespread belief that panics are caused by gambling on the stock and grain exchanges, great interest is manifested in the coming investigation of the banking system and Its association with speculation by a committee of the United States senate headed by Senator Glass of Virginia, who for years has vigorously advocated legislation that will keep the people's money in the form of federal reserve funds from being used in the manipulation of securities and commodities...
...He has served as secretary of the treasury and was one of the authors of the law that created the federal reserve system...
...It is the belief of students of national politics that it will be a long timr before another attempt In made to corral votes with the prosperity racket...
...It is charged that Its lighting rates are much higher than in other nearby cities...
...rrgime of a Stalwart president and a Stalvart governor...
Vol. 1 • November 1930 • No. 48
