The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1929-12-06
jEERS STOCKS
CRASH EFFECT
ON PROSPERITY
Most of Losses by Small
Fry Sporting Flyers,
Asserts Green.
DRAMATIZED SITUATION
Fletcher Executive Says
Coal and Textile Only
Industries Hurt.

High living America will continue
to enjoy its luxuries despite the
stock market crash, Myron r.
Green, assistant vice-president of
the Fletcher American National
bank, declared in an address at the
Opti1nist Club luncheon at the Clay
pool today.
"Silk-stockinged, fur-coated, ra-
diced, player pianoed, diamond
bedecked, eight-cylinder motored,
electric-refrigerated and automati-
cally -oil-heated America may cease
having its coffee served in bed be-
fore the morning meal as a result
Of the stock market cataclysm," he
said. But we will continue patron
age of the citrus fruit tree, even
continuing to be pampered with the
customary tons of head lettuce,
celery and grapes out of season
from far-away California, boat loads
Of pineapples from Hawaii, bananas
from South America and straWber-
ries out of season at Christmas"
1.-THE truth Of the matter is that
several million people, men, women
and even girls and boys, took small
and relatively insignificant fliers in
the stock market as sporting pro-
position" Green declared.
Did More Talking
1.-THE person who found himself
the owner of five shares of General
Conversation, Inc, did more talking
Individually about his five shares of
stock in a day than the House of
Morgan did in a week about its
holdings.
Literally thousands Of these adj
venturers in high finance drama
tized their situation as soon as the
market crashed and I strongly sus-
pect some of the five. and ten share
h'-'S felt they were veritable Wolves
7all Street-So dramatic did
they feel at being a part of the
worlds greatest financial show for
the first time in their lives.
Relatively insignificant paper
losses have been dramatized as per-
sonal and almost national calami-
ties. AS the smoke has cleared
away, we are surprised to learn the
Battle of Wall Street does not re-
semble Verdun.
Auto Industry Good
AFTER two phenomenal years of
production and sales, the automo-
bile industry as a whole never ex-
pected to sell as many cars in 1890
as were sold in 1928 or 1928. The
industry now has more than $780,
100000 in cash or securities in the
till and it owes less than $4,000, 900.
This reserve Is not included in fac
tories and machinery or good will,
or brains Of executives.
"Steel, the barometer of all bust
ness activity, has had it's best year
since the war. Activity may be a
little slack for few months, but we
must remember that additions to
plans prevent the steel mills from
working to theoretical capacity in
definitely.
Business Is not bad today. If
you think it is, try to wade through
the crowds of humanity jamming
our stores. We should stop trying
to make business i'll by saying it
looks sick.
Not Real Yard Stick
I'VE should remember that the
lowness or highness of stock prices
do not constitute the real yard
stick to measure prosperity. We
should not permit any doubts to
cause us to cease our advertising,
merchandising and planning for
future business developments.
Business in 1880 will be what
business men make it. We are not
due, by rules of the business game,
for a peak year in 1880, but the
facts justify the prediction that
business will be SO satisfactory as
to make the pessimistic talk we
now hear appeal absolutely ridicu-
louS,"