The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1929-11-08
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Earth and the Senate
Safety In Insurance
Good News, Generally :.
Senator Nys Ia . Hurry
The earth turns on its axis about
1,e9O miles an hour. 5000 miles In
"a hours. Because Of its sixe, the
earth's motion II slow.
At the same comparative rate Of
speed you could not detect any mo-
ton In a cart wheel revolving once In
"a hours.
However, a. President Hoover just.
ly complains; there u something slow.
or, and that's the senate's motion on
the tariff.
It has been considering q tariff bill,
as the President says, 'since June,
with fifteen schedules to work out.
and has not yet completed schedule l."
Alfred p. Sloan, Jr.. head Of Gen.
eral Motors, back from Europe, sees
no illogical reason for such action as
has occurred In security values"
Business IL sound, says Mr.. Sloan.
He believes that the quarter earnings
for General Motors will be ahead Of
the same period for last year.
Edsel Ford announces reductions In
Ford prices, expressing the belief OF
the Ford organization that. PHYSICALLY.
the industry and business Of the coun-
try are sound"
There Is no better contribution to
prosperity than to give buyers more
for their money, when greater EN-
cheney makes that possible.
1t isn't how much money you get,
but what you get for your money. that
counts.
#. 81. Ecker, president of MetropOli-
tan Life, biggest insurance company
In the world, replies to a question con-
corning recent Wall Street excite
ment:
Drastic defation Of market prices
Of shares Of common stock In no wise
affects life insurance policies issued
by companies whose investment prac-
~tice, guided by laws, such as those OF
the state OF New York, or the sound
judgment Of executives, excludes com.
mon stock from their holdings.
More than ever has this recent
experience demonstrated that life In
surance is the safest, most depend
able repository for the savings Of
millions Of our population, furnishing
at the same time sound protection
against loss which follows in the wake
Of DEATH"
New Jersey, first among the states,
has absolutely wiped out the gypsy
moth. e..
Governor Larsen and the state agri.
cultural department are to be con-
graduated on q 6ne achievement.
More money than Wall Street could
lose In q dozen panics would be saved
II science could eliminate Agricultural
pests, boil weevil. corn borer and the
rest Of the army.
NASeucut uCWb COAucc LHom 4 Aoaioo
as to the success of that state in deal
Ing with the Mediterranean fruit 6y.
1t has been a costly battle, but worth
the money and trouble. ~
Samuel insult and other big employ
ers, following the example Of Julius
Rosenwald, supply money to protect
employees from losses In stock specu
lntiOn.
Henry Ford wouldn't agree with that
idea. Two years ago when this writer
mentioned certain stocks In which
there were bound to be heavy losses,
Ford said: "Of course. But that's the
only way people can learn"
Whether 1t Is wise not to let ma
ture take its course In gambling as In
other things, 10 questionable.
Senator Nye Of North Dakota wants
Wall Street and "all speculation
sifted." What's more, he wants rem
edy ready by February /.
That's a short time for 50 big
job.
The Malay, in his breech-clout, bets
on cock fights.
The proud red Indian piles up his
shirt and blanket, bets them on q
pony race. standing in dignified nudity.
Two ways Of getting something: one
is to work, the other to gamble.
NR
prefer the gambling way.
That win be changed q good deal
later than February !. 1880.
You will be glad to hear that the
Federal Reserve board says the Wall
Street earthquake Is oyer. public fears
claimed.
II may be permissible to remark
therefore. while the earthquake Is still
fresh Ia many minds. that gambling
Is dangeFOus.
And ~ fsxft necessary. There are
other. better ways OF making a living
In the United States. In addition TO
which gambling II NO WAY to make
living.
It used to be said, "Wiss maa,
take your profits" That has changed
to "Wise man, take your losses"
meaning, don't sell In q panic and re-
gret at leisure.
Two more great oil fields have been
found, one In Texas, one In Kansas.
And II "a called "a misfortune harm