Die Erteilung von Konzessionen Sowjet-Rußlands an das ausländische Kapital

The stock market crash - and after

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Monograph

Identifikator:: 1016209568

URN:: urn:nbn:de:zbw-retromon-160945

Document type:: Monograph

Title:: Die Erteilung von Konzessionen Sowjet-Rußlands an das ausländische Kapital

Place of publication:: Leipzig

Publisher:: Franke in Kommission

Year of publication:: (1920)

Scope:: 11 S; 3 Kt

Digitisation:: 2021

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

The Stock Marke: Crash 13 with the tape seventy-two minutes behind the floor. The banks gave support which helped the rally, while blocks of from five thousand to seventy-five thousand shares were thrown into the market. It was on November 7th, that the National City Bank Shareholders’ meeting rejected the terms of the merger with the Corn Exchange Bank as pro- posed September 19th by the National City Direc- tors and accepted by the Corn Exchange share- holders. By this proposed merger the creation of the largest bank in the world had been announced. The proposal had agreed on cash purchase by the National City Bank at 360 of Corn Exchange shares that had not been exchanged for National City stock. The prices of Corn Exchange stock had fallen to 160 at the beginning of November. But stocks broke again in a new rush to sell on November 11th, with United States Steel at the year’s low in an 1134 point drop to 1594 that was succeeded by further declines on two successive days and recorded losses of from one to twenty-five points in other active issues. In the burst of liquidation during the final hour of trading the market was over- borne by the dead weight of realizing sales—mani- festly representing “distress” selling carried over from the October crisis. Still, call money and rates on collateral time loans remained at 6 per cent, the time-money rate being at its lowest since August, 1928. But leading stocks offered when there were no buyers again encountered ‘‘air pockets.” The

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