Der finanzielle Aufbau der deutschen industriellen Aktiengesellschaften in den Jahren 1901 bis 1910

The stock market crash - and after

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Monograph

Identifikator:: 100473039X

URN:: urn:nbn:de:zbw-retromon-16363

Document type:: Monograph

Author:: Meissner, Ludwig

Title:: Der finanzielle Aufbau der deutschen industriellen Aktiengesellschaften in den Jahren 1901 bis 1910

Place of publication:: Halle

Publisher:: Buchdruckerei des Waisenhauses

Year of publication:: 1916

Scope:: 1 Online-Ressource (49 Seiten)

Digitisation:: 2017

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Zweck, Methode und Material der vorliegenden Arbeit

Collection:: Economics Books

$8 The Stock Market Crash—dAnd After even probable, that builders and automobile pro- ducers, in their eagerness to take advantage of ex- panding income, overestimated the public capacity to absorb their products. That would naturally lead to a dislocation in application of labor and capital, and in these lines a throwing of men out of work until they could be absorbed in other lines. But such absorption takes time. Many months must elapse before the building program projected by the states and the national government can aid in this process. The effect of the market crash will take time to become fully manifest. Sales have a period of incu- bation lasting for several weeks or even months, so that a full assessment of the damage wrought by the panic in curtailing sales cannot be made at once. There had already been a fall of commodity prices during the summer of 1929. After seventeen weeks of un- interrupted decline, the general wholesale price level registered a fractional advance; my all-commodity index fell from 99.1, the high point of the year in the week of July 26, to 92.2 for the week ended November 22, a drop of nearly seven points. This was a swifter decline than any since the index at- tained its base of 1926 as equal to 100. Although the index fell by 7.5 points between November, 1926, and July, 1927, during a rather marked business recession, it then took twice as long as the decline in the index during 1929. Fortunately in neither case was the fall in prices very great, and the latest evi- dence points to a rise in the index. While prediction

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