A SIGNIFICANT VICTORY

Poverty Bay Herald, Volume LV, Issue 17409, 6 November 1930, Page 7

A SIGNIFICANT VICTORY

TRADITION IGNORED DEMOCRATS SWEEP ILLINOIS THE LATEST RETURNS (Elec. Tel. Copyright—United Press Assn.) (Received Nov. (i, 10 a.in.) NEW YORK, Nov. 5. The exceptional significance ol the Democratic, victory continues to multiply'. Illinois, which is traditionally Republican, and which has gone Democratic only twice in 88 years—one of tli(*.sc occasions being on the occasion of President Wilson’s victory', when Mr. Theodore Roosevelt split the Republican Party—was simply' swept by Democrats. Jt is the third most populous state of t lie union, and with New York usually sways the nation. Pennsylvania, which also is traditionally Republican, cast a larger Democratic, vote than in a decade, the city of Philadelphia giving the <v* fented Democratic candidate for the governorship tho largest vote ever given to a Democratic', candidate for any office. Four Democratic Congressmen, moreover, were returned at the expense .of Republicans. The only Democratic member of the Senate defeated is Mr. Stock, of lowa. His Republican opponent, Mr. Dickinson, is lending

Nebraska- re-elected ..Senator Morris, leader of the insurgent Republican bloc. ’ - :■ ‘

Oregon re-elected Senator ’Me Nary, who Was co-author of the tariff; and eho.se ari independent governor.

Illinois, Rhode Island, and Massachusetts overwhelmingly voted for the repeal of the Eighteenth Amendment. “Wets’’ and “drvs’’ divided about equally the Senate seats where prohibition was the issue, while antiprohibitionists cut deeply into the dry majority in the House. At noon the results in 9.1 Senate contests show the following results:—

The three seats necessary for a majority are. still doubtful. Congressional results for 435 seats show:—

Doubtful 72. Two hundred and eighteen seats are necessary' for a majority. The (chairman of the Democratic national executive committee claims a victory for the Democrats in the Houso of Representatives. He said he was not ready to claim a victory for the Senate, but is confident it will he very close.

STOCK MARKET REACTS WILD WAVE OF SELLING (Received November G, 12 noon.) NEW YORK, Nov, 5. Apparently disturbed by the outcome of the election, traders threw stocks overboard. The whole list broke wide open, starting quietly and gathering momentum throughout the session. Issue after issue fell to the lowest for a year or longer under the downward leadership of United States Steel, which dropped six points to 140 points, registering a total market loss since last season’s high point of over £2O(J,OCO.COO. Other markets showed a similar reaction. LOSS OF PROSPERITY AN ELECTION ISSUE NEW YORK. October 11. The Congressional, elections this autumn will be fought by the Democrats on the prosperity issue. The Democrats propose to produce an extraordinary 'collection of facts to show that “general prosperity,” usually the chief ally of the Republicans, has deserted that party and lett it badly floundering. The Federal Government is accused of circulating false reports of returning prosperity and of issuing ridiculous statements, leading people to believe in a new era. of riches’ which would' solve the problem of poverty. Neither party will publicly admit that the American standard of living, which m the boom time of last year found expression in a. plea for "a two-car garage lor every family,” is too high. Mr. John Barton, tlie eminent iinancier, in addressing the Rankers’ Conven--1.1011 to-day, expressed doubt that any material difference in the standards of living of the. American people could be maintained tor any appreciable time Ho pointed out that the present age was olio of fast and efficient methods of transport- and communication, when nations lived very near to one another.

Alui'li may happen between now and the Presidential ejection of 1932. Bat' few persons hero to-day expect that there will be another wave of prosperity in two years’ time, such as swept the Hoover Administration into office. As to prohibition, both parties in New York State have adopted repeal planks for their platform. But they also agree that there shall be no return of the old public-house. With both parties “wet’ prohibition will become a secondary issue in many States.

Elected Holdovers Total IJopubUearis l.‘> 24 47 Democrats 10 2(i 45 Farmer-Labor 0 1 1

Present Elected Congress Republicans 17ti 2(50 Democrats .187 1(50 Farmer-Labor. . , 0 .1