Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1929-08-18
The Once Over
BY q. Z PHILLIPS

ocean liners are now being equipped with orok-
era..e offices in which quotations are recorded stimuli
taneously with those on the stock exchanges"
item). a
"Yes. sir. we had the toughest passage OF my 81
49, ar " said the skipper OF the big liner as ne
Trough this ship into the bay. i never went thioueh
anvtb,np like it. More than $500 passengers were
badly hurt and scores OF others tossed about anu
h-,,s.d IN some extent. It was pretty terrible.
auou did II happen?" asked the ship news reporter
eagerly.
ovsrvthinc looked favorable. There wasn't O ripple
anywhere. The passengers were happy ana care-iree'
We all had every reason to expect a comiortaoie, "a
eventful trip. The first day was quiet ana there
didn't seem to be a sight Of a disturbance any"ne'e.
Trouble began the second day. When / came ON l
found that the passengers were being ouiie'eu aoOu.
a lot. and I Immediately made inquiries ana iouno
The shin had run into a Federal Reserve Board rate
increase. It had struck us broadside just after the
market opened.
"rhe passengers were all pretty excited and looked
very pale. We we're rolling pretty badly by that time,
but along about noon we seemed to be running out Oh
Il. Then. quite suddenly. i felt the ship lurch. was
in the brokerage room myself at the time and rusneo
ont to see what had happened. My worst Tears were
realized. We had crashed INTO a rumOr TIN 500
tary Mellon had resigned!
.xr,o, NE heoan to pitch about pretty violently as
4 We - -
The afternoon wore on. The only question to my MIND
was whether I would have to navigate through q tecn-
meal reimbursement or a major reaction. kne" l hao
! ,tout shin that could stand anything, but II we were
a, TO- q major reaction thought I might have 10
change nv course and run before the storm. we got
through that day all right and I had concluded u was
inst one OF those seasonal r~eadjustments when the
skies got black and we we're soon waio"lhs III q ee"-
uine nor-east major decline.
"a half hour after the market opening next day.
the shin was helpless. never saw such a scene In all
w. career M sea. Passengers were being thrown all
over the shin. We ran into particularly heavy selling
~ noon and I saw four men and a woman washed
oyerhoard bv a tremendous drop in motor stocks and
coppers. One fellow lay quite lifeless In the lee SOUP
r.-s TIE had been done for by a break In radio com-
mon.
"we1 sir to make matters worse. money went to
4 ner cent around / O'Clock and took away % feet
81 rail and a lot of rigging. BY this time the pasSen-
pers were a bowling mob. I stopped the engine and
sent IN signals to the big financial houses. Night fell
without any answer ard got ready to put over the
small boats when the skies cleared showing can
money AZ 6 Der cent. But I tell you 1t was one tough
experience and I never want to 60 through u again.
SUNK
He watched his paper profits grow;
His gains seemed great and many;
The F. r. 3. then struck its blow
And now he hasn't any.
Ina Dodo called up her broker yesterday and
feverishly demanded. What's this here re-discount
rate that's jumped from five to six? Will it 60 any
higher, and If so, shouldn't you buy me some?'