Chicago (Oct. 30)
Julius Rosenwald, pledging without limit his personal fortune, has guaranteed the stock market accounts of the 40,000 employees of Sears Roebuck and Company, so that none need face the danger of losing his investments in the present stock market crisis. This news was also welcomed as a factor which is likely to assist in ending the tremendous slump. Mr. Rosenwald guaranteed all accounts regardless of what stocks are represented. His decision was reached immediately after the disastrous plunge of prices on Thursday. As chairman of the Board of Sears Roebuck, he called a conference of company officials on Thursday and announced his decision. In 1921 Mr. Rosenwald adopted a similar procedure.