‘Reasons’ Not To Invest in 1938

Headlines:

Hitler Annexes Austria

Nazis destroy Jewish shops, homes, synagogues in Kristallnacht riots; 20,000-30,000 sent to concentration camps

Munich Pact—Britain, France, and Italy agree to let Germany partition Czechoslovakia

Hurricane wreaks havoc on Long Island, N.Y. and New England

Close of Dow Jones Industrial Average Dec. 31: 154.36