The Daily Tribune (Bay City, Tex.), Vol. 27, No. 61, Ed. 1 Friday, July 10, 1931 Page: 2 of 4
This newspaper is part of the collection entitled: Matagorda County Area Newspaper Collection and was provided to The Portal to Texas History by the Matagorda County Museum & Bay City Public Library.
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The Daily 1 ribune, Friday, July 10, 1931
#
>
i
With their profits
bought addi-
(Continued on Page 3)
205%2
Publishers
Nearly 32000 miles of railroads
Had Its Ups and Downs
built
Published Daily Except funday
GULF
Owner and Editor
Managex
B
rging round
ball
Foreman-Adv. Mg ;
this
122822
Another
"teaching 1
RE
th
Ag
V
sophisticated
subscribed
he open road calls
effort to
me
P '
252762385633332222209
P
effort to find the
period of frenzied inflation.
back into hi:
Dunic
them
promoters of
structure for cotton
of about 8 000 -
r d
uilec
-in
of for
i and me
dem
the
Post-Dispatch
NhU
DF
in
6)
W. F. TETTS
Jeweler & Optometrist
4
1
I
>
K
7
EREEE
1
SCOTT DRUG CO.
Phone 348
।
*
RED RIPE FULL PACK
3
ZD
Tomatoes, 4
VERSER
===
35)
FANCY BLUE ROSE
i
He
BROS
S.
Rice 3 lbs
10c
not
17c
fl
tho
variety
Your Baby's
29c
Photograph
2
We don't lose any time reducing prices in our
stores when the food
I
While the baby is small
\ Speculative Boom
pictures made .
BRER RABBIT
you
32c
SYRUP
will appreciate it in later
a
i
those of 1837 1857
A
fe
have alreedy p
tem prunee
years.
SULTANA ASSORTED
35c
end
JAM
C. PARKS
d
poured forth
h
the
PHOTOGRAPHER
clown
W
read
The
•' i rtant
ALAMO LUMBER COMPANY
A & P PURE APPLE CIDER
MAGNOLIA GAS
I
Bay City, Texas
39c
VINEGAR
itself!
$a
SWIFT S JEWEL
69c
GET
Shortening
A
Ir
■
d-
that
j MINUT
:: ku aft
motOR
v.
k
MOTOR
O I L
4 ROLLS
HUI W AI DONF
ADD WINGS
19c Toilet Tissue ... 17c
flavor blends with other
ods! Meat, fish,eggs, veg-
POST --Large Package
11c
etables. And it sas health-
Toasties
7c
idly and everybody
O
((
P
hi
LAUNDRY SOAP
Mack Brown
33c
Texaco Products
m
d-
4
--
It
‘ ■
ii
*
GRUEM WATCH
i
i
into '
The I
NO. 2
CANS
Nan
Mel
KU
Kold
new
K F. ( BE X M
Powder
9
$
1
1
board, a
ditio
strong fu
Na
Ha
Hu
Lu
the
ed r
tors’)
genius.
FRIDAY AFTERNOON AND
Saturday Specials
1
that I
to fil
Who
gum
t
t
I
3
Mr
childi
sister
City
0
ti
V
•B OZ
JAR
• the general
was. after re- !
a remarkably ।
HALF
GAI LON
dented
frenzied
pi ices
I
u l
I - '1
as J
I
The
then
nl8
in
WE
brins
like
will
the .
tinue
impe
to a
hut the
the ti
But w
00) bale
-uut
k
SOCONY
DEWAXED . . PARAFFINE BASE
J PKGS.
17c
et it S
I 100 le
Eng-
trade
Herr
| lative
whic
grew
and
ces I
SMAL.I
PKG.
the boom
Important
6663-83
iuue
all Di
ry to 1
ot on!
S making a
i with the
other con-
iE
extra
long
mileage
llion dolla
nd bounds
e, the
ven if
RN( ORE
Olive Oil
Thus
Inboyre
ar until the
d of the ma
that p
panics
The Daily Tribune Business Has Always
TEIBUNE PRINTING COMPANY •
Mr
gulf.
E H
to Your Motoring
—gives that smooth forward sensation
A Turn in the Road
4 YOUR HOME 4
6 1 B.
PAIL
10 p
hr
With i
the si
cotton
go mnark
problera
if the ot
which they
Panics «*
day were
the
farr
KY CREAM
Salt
ed up
poun
1
co
pr
nn
ki
th
in
to
hr
m
st
st
e|
t
w
o ■
r
marking up of tulip
nparatively new n
Houth Sea Wubble
Everybody
I merchants,
1 frantically
9700770
KILLS
Flies and
Mosquitoes
Roache/, Ant/
, Moths,Bed-Bugs
NBC.’ A..t ' 7 27 J'- Flakes
ith a
L L •
th
be
------- ----- orokers, affair. The panics of 1890-93.
and bulleta and 1920 are recent enough to re-
cumomMch
mioe
A
GALLON
JIG
3 BARS
. . 20c
which 11 tional policy of internal improvem
tudying ended with the building of many u
o’
Al!
9
h
li
r
zemo
FOR SKIN IP ArTATIONS
< AN
. 10c
411
Quied
nassa
Entered an second class matter at the in
3 "KGS.
20c 11 x TOILET
io ins Soap .
. 12c
There has been nothi
iabout
is the proper time have
if flying through air. It’s the dynamic
ush. Drive up to Station 555 and say
ow much. You’ll like our gas.
J. B. FISHER
2,
44 go w
‘their stok found a reedy market The
prices of these stocks went up rap- i
was getting rich
ful— digestible- as pure
whole milk itself!
Try it today-for cook-
ing and sandwiches. Your
grocer has it in the half
pound package.
>er lines and stock market prices
I reached unreasonable levels. The
Va
e364"age8%
Gruen ...
15 jewei
Guild inon rnent
$35
Oats or Grits ... .7c Shoe Polish
schemes,
partial
plans.
bull* cessive activity in some form or an-
| other This is the point we ought to
' remember, that panics and depres-
than any
a total revolution of thelc
ticipate in this new
irately 10 per cent That i:
start toward co-operation
port ourselves back into that period.
It would seem that Providence for-
seeing that credit would beget panics,
wished to provide humanity with an
Digestible
as milk
aimed at repressing
F‛K(. i i
*
Ik
wold for
bankers' and
to The collapse of the boom wan
at this time but theleral business and financial inflation.
----- a bottle ot cooling, healing,
intisepti Zemo-thesafe,dependablewaytore-
-iev riu hi ng torture.( onvenient touseanytime
— doesnot show. Alldrugzists, 35c,60c,$1.00.
posed to engage in highly profitable 1929 started with a period of healthy
I The boom spread over the entire
civilized world. Millions of people
' bought securities of which they knew (
. ----,------ —— i nothing simply because some one told !
jobbing scheme whereby $2500,000 in | them that the price was going up. I
eteok we- dietrihrttad ---------------- They had no idea of investing - they ।
I were in fact, simply placing a bet.
one of
cotton
ot “1. square
2 and making
ixteenth art of war.'
uire no description.
That brings us to the greatest boom
we have the germ of sprcu-
prises not to be divulged!
a fortune quickiy On all sides men
I suddenly became rich and spent mon«
ley accordingly. The country sem-
ed to be enjoying an era of unprece-
due to the
debt of 230 mil
rose by leap* a
in Janury hw
30 pounds in
5,62,9
".2
GRUEN]
WATCHES
• e e • • • this
de i ious new cheese food
mel ' lices, epteaes!
|| m it a full, rich cheese
ng silver out ofiTta
building hospi- I oth
children " Anoth- |1 ad
Puckles Machine par
of 1884
price of food has lain going down so fast for the
last year or more, that we've never changed so
many price tags in our liven.
■tor in improving the
Semper Augustus
trading in securities and other enter- j improvement It gradually
n to cast nativities." But the in history. 1929 It is curious that the
who a few months before
(PE
H V -
N328% •0‛
2D Et
.
42
other boom, that of
Hanking as we understand
introduced into Enland late
and with consumption knowing
ortant tendency to increamt a "
cent cut in acreage has not thus, ‘
ved to stiffen the market
ity were mere bubbles. One was
make butter from beech trees." ;
prosperity all
ind under
would ha
than an acute
1884 1890-93 1907, 1920 and IM
An era of internal improvements
। preceded the panic of 1937 The Erie ;
Canal and many other Canals were i
built during this period Kailrond '
1 building began What started as a na- |
The most
crowning piece of folly was a com- first and the latest panics— 1720 and I
pany foi carrying on an undertaking were similiar in many respects,
of great advantage but nobody to They were mainly stock market af-
know what it was." fairs, they were not preceded by a
Before you laugh at the credulity of, r e in commodity prices; commerce
these simple-minded Englishmen of and industry were only incidentally
200 years ago to whom corporations in turn encouraged and then de.
were a newly invented mysterious pressed by th? changes in the purch-
mechanism please reflect that in July asing power of the public. They are
only two instances when the poori
to a well as the rich took a major part •
pany which in the stock market boom.
Summer with blue skies over-
head and a purring motor under
your control ... of course the
watch for now is a wrist model!
Handy for motoring- handier, still,
for tennis or golf. Only be sure you
choose a Gruen. Then you’ll have
smart style coupled with accuracy
—a combination that makes our
G ruen sport watches so outstanding.
The goldsmit hs
money at first
least premature ventures
Ma y Mid
Don (worn longer withltch.
Ang Min, Dandruff, Kashes,
Amplesandother
M annoying skinirritations Get
ely foi
id It pi
of amassing articles of confederation we have hi
in the preceding five years,
was overexpansion in many
to subscribe without examining what 1857 was mainly caused by a boom in 1 For
the proponals were.’ raiiroad building That of 1873- th*
Selling Blue-Sky Stock. [ most important between 1927 and
-was caused by a period of gen-
several years they usually won. ;
Octagon, 10 bars'
It seem
Trade Brought Money
UIndei this .-simple systern they had
riodis of famine and plenty. War
After 200 i tors. In the first plac
today havebusiness of the country
Continent fo
in prospect at the end of the
are. We had then and still have
0 per cent more gold than
• I thy credit structure This ma
di l easy to obtain. At first t
a wrist watch
princes and the clergy caused an
bought bulbs at mount- i Parliament
was perfectly right and al- they exchanged in the town for any-
wrong. For instance prac-thing they happened to lack. Nobles
lied causes of [ borrowed occasionally from one
another but commerical credit as we
understand it was unknown in fact
coined money played a relatively un-
f great i
ears the
important part
1920 20/9 years late
New Yorkers eagerly
the ‘stock of a finance <
stated in its prospect
by a number of events- the most im- l
portant being the refusal of congress ।
hi renew the charter of the United
States Bank Rut these were only the
matches that touched off the powder .
postoffice of Bay City, Texas, under periodically ever ince. After eachled the land and the work was per-
A ,e c. one great numbers of persons comneformed by the villein*. The respective
vongt*^ forward to tell us just what cauned rights and duties of the lord and the
it and how to prevent a recurrence villein were defined by immemorial
Ta judge from the trend of the cot-/In listoning U> thes, arzumenti 1am ' umge. They both . received their
ton market following the publication rominded of the three bind men hares of the production of the land
of the uovernmenes report on qcreaue whe were deser ibinK the elephant and labor in material ko«xJ« which
in cultvation, cotton farmers heeded " 1 ‘"
the advice of the Federal farm board 1"' u o
to reduce acreage this year but they I -a 4 " . j.a f,
."2... panics come with undirnini shec fre
did not g<> far enough with their Ie- ‘
a lai ge amount
days Another
. Another for tmnaki
lead." Another for
, tals for illegitimate ।
। er known as the
; company was for "c
(From Nation's Business) I Under
The world suffered its first panic entirely
1635 It ha been Im
promoters of 1720 (they
sell costs us less. Atul the
common denomina- metallic money to some extent There
To do that it iswas no paper money
the man
England. J was ar
roduction lish w
at fi
perfectl isolated The
rs its stock
125 rounds
is in March.
in July it
All classes
e understand them to-
po utile before < redit
, The stock of a company offered at
mm shillings in the morningwent to
> shillings by afternoon. The next
week it sold at five tmw» that amount
land an on Everyone -humble or high
-was eager to subscribe for any stock
I that wes offered The London Jour-
Inal of June 11 1120, write- The hur-
ry of our stock - jobbing bubblers has
, been so great this week that it has
I exceeded all that was ever known
who were jealous of thia
ileged competitor The bani
, peiled to suspend but, w i
l ment assistance
ments
' The first ator
place
to be paid de
pay dividen
OLD MUNICH
MALT EANB
the suddenness that characterizes the has not learned this simple lesson
end of every speculative era The re-: After every pante retnedies are al- .
suit was bankruptcy on all sides busi- ways advocated nearly all of them ‘
, ness depression poverty and siffer- aimed at preventing panics and very '
and peace, pestilence and well-being
bid they obviously could have no
collapse of credit or paralysis of com-
merce and industry About that time
the thirteenth century a demand
ekeular idess and —48 Yew have talked ef it, planned
i aed "eome dey kev <• if 11 marhe •
turn in the road It • the yeer yeu cee get gend materiale
•• HR If BB prices, leber Bt a s= le» level; cenetrwethe
generally at a great deal les thas may egais be pemble
for yeara Build this yean Aak ua sb A ob yon ples bok
plana which ean be converted te incorporste all yene Adesa
! if ins of their
offered on a
other attractive
purpose just me
‘Viceroy sold foi 2500 guiltier* ’ll - I supposed to prevent a recurrence of
of money in' such orgies How futile such laws
theare and how little humanity seems to
, 4600 learn from experienct well proven
guilders ($1850 • more than the price by Ihe depression through which we
of a Kood farm. People sold then | have just passed
properties ami speculated in tulip | shall not discuss in detail
I bulbs । booms and panics that occurred
i Frenchmen Englishmen anti Ger-tween 1720 and 192 it will suffic
mans will money It* Holland to par- state that since the adoption of the
pricked by a rather unusual method. I
The directors of the South Sea com-
. • pany looked with contempt upon
objett esa,n of the evils of specula their imitators and in the fall of 17201
tion This lesson was in the form.:of began legal proceedings azainst some
the first real speculative craze thejof them South Sea stock was then
wor Id ever had. In it money, securi selling at 850 somewhat off from the
ties ..nd credit played no part It peak of 1,000 reached in July The
was pure Speculation void of an} | proceedings started a liquidation in
A p
*) L .
z if* I
LrL I
became populal At first a moderate market crashed
......— ■! I « lamov foi Legislation
■ (the flower Holland was the center of. Almost universal bankruptcy fol-
the tulip bu ‘ end 1 • lowe d M. । nd me nial
■ the demand for bulb b common
Shares wen healthy state. Second, the war had
ayment and diverted to us a healthy state Sec-
For instance ond. the war had diverted to us a
mysterious large part of the world's gold so that
eq in red only i we held far more than our customary
ing prices.
i At first the actual bulbs were de-were eager to speculate, were now
I liver ed when bought, but soon a leg clamoring for law* against specula-
uhr exchange business arose and tion and punishment for the pro-
bulbs were bought and nold on papex jectors Parliament did punish some
: much as speculators buy and mH t of the more flagrant culprits and
stocks today One variety called thepassed a number of law* which were
The boom ended when a few men 1 sions could not take place without
rcame skeptical and cashed in Oth- - booms and inflations This statement .
s followed and the crash came with may scem elementary but humanity '
Business came to a stand-
sufferings of all classes
uproar for revenge, and
was appealed to. The
my This com-
mopoly of fish
ding privileges
nerica and the
eased it* capi-
the stock be-
p and by -917 :
nds (60 million
anding It then
entire national !
-----
iled "pr
Jun;’11
e fd
u hav. --bc. and hom
in the United States beginning with | I
1 the depression of 1785 21 major dr- * I
i presnlons and a number of minor dis- । I
, turbances Every depression was pre- j I
; ceded in fact wan brought on by ex- I
Carey Smith
Pos Carey Smith J
Ad R v Hendrix
abroad were lar
nt for export m
i would be Lette
been able to devise but slight varia- covering from 1926 in
that it pro- As
The towns used •
fekerping th
cable to lend
intercut Sc
puyina interest on deposit and
these mod4st beginnings Olli
rn banking business developed
panic came shortiy l her after in |
several minor disturbancrs fol-
t each other rapiely The most
vie of these was a run on the ■
v founded Rank of England
tered July 27 1694) in 1696 The
mV li tern th ( entry
vf laMHpH
si III the
then th
in the tri
he town
72.
uf
ck market advanced normally, re.
i ting as it ought to, the healthy
provement in business. Tile move.
Come to us for the
bent drufftt and all
drug store supplies, at
the best prices. Bring
your prescriptions
here.
difficult
-n
“10 gruen 27 A
)
;' 28-9,4
QUAKER MAID PORK AND
n o i6oz
Deans 3 CANS
ment gained momentum in 1926 and
1927, and finally resulted in the in-
sane speculation of 1928 and 1929.
Wh.it brought the general public in- |
to the market to such an unprece-
dented extent? The tock market
panics of 1873 and 1907 were affairs 1
that concerned directly only the i
white collar" man of the cities But
I the depression of 1929 spread to ev-
ery clans. How like 1720:
One or two project* of real
This internationa
ily with nearby
nation
o Eng
were spread of the fever of speculation
men was accelerated by a number of fac-
vth Ar
it incr
ducing opera ions,
i They cut the area from 16 078 000
cultivated in 19330 to 41.19! 000 acren
in cultivation, a reduction of approxi
two pou!
promised
tulip bull** had virtually no present
i or prospective intrinsic value the
element of money or credit played no
pwart no tariff or other legislation
had anything to do with this boom
o war* had brought it ah
il it liere we have a les
onsider of more value
shortage developed pauperism
only glowers butstili. The
5,000 <
dpy S’
ble to participate in the I
. opukuxative orgy, and the fever spread
* creased, the .un of coins Erew. In no class or whik of life
ihlxur iandlords with labor b.^1. pay- The device of usinz prominent |HO
f 1 as figureheads and thus attract-
I ing their .....................L ing peculator ......level!.....I to an
S ( ommerce Made ( redit . . . : .
■ I 111 ce been equal
■ Hh < hange wa gradiual Hillin', . ... r . ... .
I । . . . . ed I he Prince of Wales accepted the
■ several humndrec years As commerce..... f .. w i » /’
• i । . i Eovernorship of the Welsh Copper
■ grew in importance and politicak con-) , . । /. । ,
■ . 'i making 4 60 000
■ dilon int .hi • more tabit tht |.in gonAnnn. i . .li
■ , 4 , , as, । n ($300,000) by it. withdrew his name.
Miticeofgranting credit increased. Bilis i. ... . .. . . , .
■ r , t . The Duke of Bridgewater formed
■ of exchange were introduced first by an association for bullding houses in
I the Jewi h .....chants of Florence “‘London and W« tmin lei The Dulu
I axoid the unnecessary transportation of Chandos was the head of the York
■ of money and later.as « means of Building company. The Chancellor of
I conceal ling ’ wealth. By . mid .the ExChequer was party to a stock
I1"',"", men of London had de -‘tock was distributed among secre
I veloped methods that woo. 1.seemtaries of st te and , ther"
I quite familiar to UN if we could trans: I Great prosperity reigned
The Grout "South Sea Bubble" wa
. .e.
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Smith, Carey. The Daily Tribune (Bay City, Tex.), Vol. 27, No. 61, Ed. 1 Friday, July 10, 1931, newspaper, July 10, 1931; Bay City, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1554450/m1/2/?rotate=0: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Matagorda County Museum & Bay City Public Library.