anaheim-gazette 1932-05-12

THE ANAHEIM GAZETTE HENRY KUCHEL, Editor and Publisher ESTABLISHED 1870 ISSUED EVERY THURSDAY SUBSCRIPTION PER YEAR $2.00 SIX MONTHS $1.00 Entered at the Anaheim, California Postoffice as second-class matter. SHORT SELLING There are some people who think it is a terrible thing to sell something you haven't got in the hope or expectation that before you have to deliver it you can buy it at a price lower than you have agreed to sell it for. That is what so-called "short selling" on the stock market means. Nobody quarrels with the man who contracts to deliver a hundred head of cattle, for example, at the present market price, because he believes that the price is going down and that he will be able to buy them for less and make a profit. go higher. That is all that most of the transactions on the Stock Exchange. It has not found any evidence that anybody engaged in short selling operations was doing anything more serious than betting that the prices of stocks would go down still farther. Sometimes they did and sometimes they didn't. Several million people lost a lot of money in 1929 by betting that stocks would go higher. That is all that most of the transactions on the Stock Exchange means—betting that the market will go higher or lower. Percy A. Rockefeller told the investigators that he had lost "many, many millions" betting that the market would rise and had succeeded in winning only $550,000 of it back by betting that the market would go down. Mat C. Bruch, probably the biggest of all the stock market operators, frankly admitted that the business of Wall Street is "a racket like Al Capone's," and he confirmed what we have long suspected, that people who are not professional traders in securities are simply suckers when they dabble in stocks and are sure to lose in the long run, no matter which way the market goes. We think one of the principal troubles of the United States... Exchange means—betting that the market will go higher or lower. Percy A. Rockefeller told the investigators that he had lost "many, many millions" betting that the market would rise and had succeeded in winning only $550,000 of it back by betting that the market would go down. Mat C. Bruch, probably the biggest of all the stock market operators, frankly admitted that the business of Wall Street is "a racket like Al Capone's," and he confirmed what we have long suspected, that people who are not professional traders in securities are simply suckers when they dabble in stocks and are sure to lose in the long run, no matter which way the market goes. We think one of the principal troubles of the United States these days arises from the extension to every corner of the country of facilities for gambling on the stock market. Of course, there must be an open market for the purchase and sale of stocks and bonds, and we don't know any way to stop human beings from gambling, in one form or another. But we do think that it is just as reprehensible to tempt the unwary into speculating on the stock market, as it is to try to take their money away from them by selling them lottery tickets. WE'LL SOON KNOW THE WORST We are cheered by the news from Washington that Congress expects to finish its work by the early part of June and shut down shop until next December. We have no inside information as to what the ultimate tax program will be, or how the proposed reductions in government expenditures will finally come out. But we have lived in this world long enough to know that any certainty, even the worst, is better than an uncertainty. We know and hear of many businesses and industries which are marking time, waiting to find out for sure what Congress is going to do about taxes, before they can make their plans intelligently for going ahead. It may make all the difference in the world whether one kind of a tax or another kind is finally decided upon. But American business men and manufacturers have always had a happy faculty of adjusting themselves to conditions as they are, and when they know exactly what the conditions are we believe that there will be a rapid and general revival in manufacturing and trade. Before the end of June the Presidential conventions will have been held and we will know exactly what each party promises in its platform, and who it offers as its candidate for the Presidency. That will remove another uncertainty. And we can then enjoy a pleasant summer, hoeing corn and fishing and talking politics, with the satisfying knowledge that there isn't any more that we, as individuals, can do about the situation until election day. So we might as well tend strictly to our own business from the fourth of July to the eighth of November. MORE IS COMING TO US We knew it would come sooner or later. The only surprise is that someone hadn't thought of it sooner. Uncle Sam has been blamed for everything which has gone wrong in Europe since the signing of the armistice. He is chastised verbally because he doesn't furnish man and money to police the world, and because he doesn't cancel the debt which the allied nations owe us. But at last has come the crowning mathematical achievement. Andre Cheradame, French journalist, has figured out that the allies don't owe us anything at all, but that on the other hand we looking back, like this: Unbounded op thing's going to be Collapse; disillusion Fear. Fear compels Lord," says the Baldom." Until we not start to recover Congress was veened last December sensible Congress been thoroughly a business thinking years. Bankers love and we shall have everything. We pro And the reaction is For twenty-five tific progress." No of this so-called process of filling up the w begin to wonder w thinking may not In education w practical, to train things. We are sw ioned idea that ed the spirit and not a In government bureaus and taxes The taxpayer rebel deflate. We had a greatism, a passion for proving" everything Now we are beginning civilizations have we have to teach action and read error, change—this of our fear, clearer of hope—progress. "My wife says MORE IS COMING TO US We knew it would come sooner or later. The only surprise is that someone hadn't thought of it sooner. Uncle Sam has been blamed for everything which has gone wrong in Europe since the signing of the armistice. He is chastised verbally because he doesn't furnish man and money to police the world, and because he doesn't cancel the debt which the allied nations owe us. But at last has come the crowning mathematical achievement. Andre Cheradame, French journalist, has figured out that the allies don't owe us anything at all, but that on the other hand we still owe them a lot of money. So it can be seen, if this theory becomes popular, as it doubtless will in Europe and among American internationalists, that as soon as the debts are cancelled, agitation will start for Uncle Sam to start making payments to Europe on account of the late lamented war. M. Cheradame figures it out this way: It took Uncle Sam 465 days to get ready to fight before American troops actually began mopping up in France. During that time he says we saved 196,-000 American lives and eleven billions in money and during that time of course the allies were holding on for dear life on the western front and begging Uncle Sam to hurry. Therefore, according to M. Cheradame, we owe for this saving of life and money something like sixteen billions to the allies yet. He has worked it all out and estimates that after the debts are cancelled we will still owe $761,000,000 to France, $865,000,000 to Italy and something like $27,000,000 to Belgium, to say nothing of what we would owe Great Britain. Evidently we get no credit for having finally saved the allies themselves. M. Cheradame, it is said, has presented a resolution to the French parliament calling for the payment of the net amount by America to France. Now in view of all of the government activities in this country, during that 465 days of preparation, with its wooden and concrete ships, its high-pressure motors that had a hard time motoring its great building program on the cost plus plan, the average American will be inclined to doubt whether we saved that eleven billions that M. Cheradame talks so glibly about. But if the French still think we owe them three quarters of a billion on account, in addition to debt cancellation, M. Cheradame can no doubt get plenty of backing from certain distinguished American college professors and international politicians and financiers. But in view of all the internationalist propaganda for cancellation, we are beginning to wonder, just whose war this was anyhow, and who started it. It's a good thing for Uncle Sam that he wasn't in the war at the start or by this time the internationalist would have been blaming the inception of the conflict onto him instead of the Kaiser. ANAHEIM GAZETTE Planning to Map the Antarctic Wastes Lincoln Ellsworth (right), veteran air explorer of the North Pole regions, and Bernt Balchen, who piloted Admiral Byrd's Atlantic and South Pole flights, are starting for the ends of the earth again. They want to fly over Antarctica and take a complete set of photographic maps. THE WAY OF LIFE By BRUCE BARTON RHYTHM Looking back, the record would be something like this: Unbounded optimism; "ne wera"; everything's going to be all right. Collapse; disillusionment. Fear. Fear compels thought. "The fear of the Lord," says the Bible "is the beginning of wisdom." Until we are thoroughly scared we do not start to recover. Congress was thoroughly scared when it con- THE FAMILY DOCTOR By JOHN JOSEPH GAINES, M. D. "ALLERGY" When questions come thick and fast from the asthma and hay fever patients, the doctor has at least one umbrella to get under, that of "allergy." Allergy may be described as the "kick" obtained from different sorts of food, different individuals obtaining not by any means the same sort of kick. For instance, the Irish potato may awaken terrible consequences in certain sensitive persons. No certain law has been discovered at this time which is obeyed by food allergies. But we are studying. Looking back, the record would be something like this: Unbounded optimism; "ne wera"; everything's going to be all right. Collapse; disillusionment. Fear. Fear compels thought. "The fear of the Lord," says the Bible "is the beginning of wisdom." Until we are thoroughly scared we do not start to recover. Congress was thoroughly scared when it convened last December, and it has been the most sensible Congress in a long time. Business has been thoroughly scared, and more constructive business thinking has been done than for many years. Bankers have been thoroughly scared, and we shall have a sounder banking system. The greatest impression that this experience has made on me is a fresh realization of the rhythm of human existence. The race does not move in a straight line forward and up, much as we should like to think so. It swings. It swings too far to the left, bumps its nose, and swings back, too far to the right. In the course of these great swings it edges forward. But most of us fail to sense the rhythm. We are looking for a fixedness, a finality which does not exist. We do not realize that change is the one unchanging fact in the universe; that because a situation is so today is the one sure reason why it will not be so tomorrow. In these depression periods we question everything. We probe with doubts. We react. And the reaction is beneficent. For twenty-five years we worshipped "scientific progress." Now we wonder whether a lot of this so-called progress did not consist merely of filling up the world and speeding it up. We begin to wonder whether less things and more thinking may not lead to the happier life. In education we have been devoted to the practical, to training men and women to do things. We are swinging back to the old fashioned idea that education is an enrichment of the spirit and not a filling of the brain. In government we have multiplied laws and bureaus and taxes. Now the worm is turning. The taxpayer rebels; government must simplify, deflate. We had a great period of misdirected idealism, a passion for educating everybody, "improving" everything, enlightening the world. Now we are beginning to suspect that the older civilizations have fully as much to teach us as we have to teach them. Action and reaction, ebb and flow, trial and error, change—this is the rhythm of living. Out of our fear, clearer vision, fresh hope. And out of hope—progress. "My wife says if I don't give up golf she'll When questions come thick and fast from the asthma and hay fever patients, the doctor has at least one umbrella to get under, that of "allergy." Allergy may be described as the "kick" obtained from different sorts of food, different individuals obtaining not by any means the same sort of kick. For instance, the Irish potato may awaken terrible consequences in certain sensitive persons. No certain law has been discovered at this time which is obeyed by food allergies. But we are studying. Asthma of the "bronchial" sort, may be due to reactions of certain kinds of food in that particular individual. Fish will provoke asthmatic attacks in some; oysters in others. When I am consulted by a confirmed sufferer from asthma, I have him write me a list of the articles he eats—and then require him to eat everything else but that; to keep the list before him constantly, and avoid every single item noted. In other words, to live on the things for awhile at least—that he doesn't like! This plan, with the line of remedies that relieve symptom sometimes works great good. The advice is based on "food allergy" of course. "Hay fever" is believed to be an allergy reaction. Its victims react to pollens on the nasal mucous membrane. If we inject pollen vaccine, it looks like the rational way to prevent hay fever. I have had success with pollen vaccines, but the patient usually waits till the season is on, and brings his sneezes to me when too late. I had a patient, and they are common, who could not take quinine without developing a "rash" that was most annoying—a half grain of the drug would cause the volcano. Allergy, the scientist says. Just how one can take it, and another can't, is something yet undiscovered. Truly, allergy is worth considering. THE SCRAP BOOK MAY BY HENRY SYLVESTER CORNWELL Come walk with me along this willowed lane, Where, like lost coinage from some miser's store, The golden dandelions more and more Glow, as the warm sun kisses them again! For this is May! who with a daisy chain Leads on the laughing Hours; for now is o'er Long winter's trance, No longer rise and roar His forest-wrenching blasts. The hopeful swain, Along the furrow, sings behind his team; Loud pipes the red breast—troubadour of spring, And vocal all the morning copses ring; More blue the skies in lucent lakelets ring; And the glad earth, caressed by murmuring We had a great period of misdirected idealism, a passion for educating everybody, "improving" everything, enlightening the world. Now we are beginning to suspect that the older civilizations have fully as much to teach us as we have to teach them. Action and reaction, ebb and flow, trial and error, change—this is the rhythm of living. Out of our fear, clearer vision, fresh hope. And out of hope—progress. 0 "My wife says if I don't give up golf she'll leave me." "Yes, I'll surely miss her." The golden dandelions more and more Glow, as the warm sun kisses them again! For this is May! who with a daisy chain Leads on the laughing Hours; for now is o'er Long winter's trance, No longer rise and roar His forest-wrenching blasts. The hopeful swain, Along the furrow, sings behind his team; Loud pipes the red breast—troubadour of spring, And vocal all the morning copses ring; More blue the skies in lucent lakelets ring; And the glad earth, caressed by murmuring showers, Wakes like a bride, to deck herself with flowers! LISTEN DUTCH—BET YA CANT DO SOMETHIN' I ASK YA! BET YA CAN'T MAKE A SENTENCE USING THE WORDS LEAVE HER VELL—"MY MA MADE MINE SUPPER MIT LEAVER AND BACON" OBSERVATIONS AND THEN ALL HANDS TORCHED A CIG AND SCRAMMED A young lady attired in one of the thin pajama outfits stood between the bright morning sun and a bunch of he-men on the opposite corner. One of the gents looked over his left shoulder, and in the effort to catch his breath gave a gurgling sound likened to the exhaust in a bath tub while the last of the water was running out. HIM ONE BEEG FELLA Quite a number of diplomats have called on Uncle Sam of late, including one from Italy. When he arrive there was a sort of demonstration in protest, but Uncle Sam saw to it that everything was O.K. and no harm came to the titled representative. The diplomat was given the best in the house and he enjoyed his visit. He thanked Uncle Sam very much for his kind attention and went back home feeling glad for having came over to see the man he had heard so much about. HOT ZIGGERTY An actress sued a hotel man for damages because she was scalded with hot water when she took a bath. The jury gave the lady a judgment for $100,000. The lady claimed the scars on her body destroyed her career on the stage. In all probability if the lady showed the jury where the scars were on her anatomy they may have become flabbergasted, and not having their minds on their business, awarded her the judgment through sympathy. It is apparent the lady appeared on the stage in abbreviated attire and must be of a modest disposition. It is authoritatively reported that another actress had an operation for appendicitis, and had to give up her career, because she didn't want her public to know about it. BEARDING THE LION IN HIS DEN You can see where they are using the camera with the sound effect to catch the wily bootlegger. No doubt the idea came from the way courageous big game hunters go into the African wilds to get "pitchers" in the jungles. BRAKE BEAM COMMUTERS Two young fellows were standing on the street corner. BEARDING THE LION IN HIS DEN You can see where they are using the camera with the sound effect to catch the wily bootlegger. No doubt the idea came from the way courageous big game hunters go into the African wilds to get "pitchers" in the jungles. BRAKE BEAM COMMUTERS Two young fellows were standing on the street corner. A man passes: "Hey, pard," calls one of them, "got a match." "O. K." "Say feller," continued the "tourist," "When does the next rattler go through dis town. We guys are headed for New York. Dat's de real boig. We aims to get the long run side door pullmans. Riding blind baggage on the fast flyers is too doity—the smoke clogs up your peepers. Catching the beams is easy—if you know how. Well, so long, feller, tanks for the quarter. We'll be in New York in a week or two." VIEWED WITH ALARM A palpitating public has been greatly agitated over the reported split between a governor and an ex-governor of an eastern state. Everybody is wondering if the split is political, financial or blanket. TAIL WAGS THE DOG It appears from what you can read in the papers that Japan told the League of Nations to go away back and sit down. FROZEN ASSET Speaking of the depression there is the ice cream wizard who blew up, he taking the cream and leaving the stockholders the ice. TWO SOULS WITH BUT A SINGLE THOUGHT After an actress had married her fourth husband a report prevailed that she had disappeared. But after an intensive inquiry it was learned that she had not given her new-found mate the gate; but that they were only honeymooning. CHARITY SHOULD BEGIN AT HOME This idea of helping the stranded in foreign lands, while the poor at home need help, may be called vanity, or something like that, but it does not sit well on an empty stomach. THE GENTLE TOUCH Uncle Rueben inclines to the notion that they ought to appoint a commission to look into the graft, the rumor says, has got quiet a neckhold in some high places and roundabout. PUFF, PUFF, THANKS! One of the most thrilling and educational sensations it to pick up the paper and see where the good looking girls tell in the advs. which cigarette is her favorite. But the gals do not show us where they strike the matches. HANDWRITING ON THE WALL An eastern editor dipped into the past and found out that any one of the depressions never lasted more than three years; and whenever one occurred a republican president was always elected at the next succeeding election. PUFF, PUFF, THANKS! One of the most thrilling and educational sensations it to pick up the paper and see where the good looking girls tell in the advs. which cigarette is her favorite. But the gals do not show us where they strike the matches. HANDWRITING ON THE WALL An eastern editor dipped into the past and found out that any one of the depressions never lasted more than three years; and whenever one occurred a republican president was always elected at the next succeeding election. SAY, THOSE BABIES WERE FAST WORKERS Three former officials of an oil company that went into the hands of a receiver were charged with grand theft. It is alleged that one took $80,000 to make the last payment on a nifty boat, the other took $50,000 to beautify his home, so it is set out in the indictment, and the other guy is accused of drawing his monthly salary three times a day while the drawing was good. And those fellas gave gifts, made whoopee an' everythin'. HE WOULD BE A BEAR ON THE STEERING COMMITTEE Down Texas way a democrat was elected to the House. A dispatch says the man is one of the big shots and the voters literally took him off the hurricane deck of a cow pony and put him in office. THEM WERE THE HAPPY DAYS An enterprising producer put on the screen the other day an old reel, showing the brewers' union parade in an eastern city before the saloon went on the rocks. "And now, ladies and gentlemen," said the announcer, "the men you see riding in the carriage up in front are the brewers and the men marching behind are the customers." Everybody laughed out loud. TAIL GOES WITH THE HIDE Over in Montana they kicked up quite a mess when the copa raided a speakeasy. It appears they took along the bar and the equipment but left the sawdust. Now, if the paraphernalia has a chattel mortgage on it, that may form a complex or something. BITTER PILLS Reports coming in over the backyard broadcasting station has it that a coupla high up gents in legislative halls on the banks of a famous river took a flyer at sugar. It is reported they had a lobby tip—but it didn't work. Paper profits are O.K. if you let loose at the right time. It appears these gents hung on and the profits were not sugar coated. Sad story.