Wirtschaftsgeschichte der deutschen Kolonien

The stock market crash - and after

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Monograph

Identifikator:: 1776197003

URN:: urn:nbn:de:zbw-retromon-171695

Document type:: Monograph

Author:: Zache, Hans http://d-nb.info/gnd/1096768860

Title:: Wirtschaftsgeschichte der deutschen Kolonien

Place of publication:: Leipzig

Publisher:: Weimann

Year of publication:: [1928]

Scope:: 39 S.; Ill.

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Vierter Abschnitt. Die Schutzgebiete unter Mandatsverwaltung

Collection:: Economics Books

244 The Stock Market Crash—dnd After York Stock Exchange in 1914 (published by the Country Life Press, 1915). Mr. Noble says: “The reopening was accompanied by the restraint of certain arbitrary minimum prices, below which securities could not be sold. It was felt that, owing to the critical and indecisive state of the war, there was a continuing possibility of some news that might renew a crisis in the market. While this possibility lasted, the maintenance of minimum prices furnished an automatic check upon sudden panic, which would avoid raising the question of a second closing of the exchange. In order to regulate these minimum prices and so change them from time to time and to keep them in accord with normal supply and demand, it was necessary to appoint a committee, and the original Five were continued in office with this sole regulative power. As bonds were similarly restricted, the Committee of Three [in charge of the bond side of the market] also lingered on the scene for the same purpose. The two committees performed this unusual function up to the first of April, 1915, when the very marked improvement in conditions led to the abandonment of this last vestige of artificial restraint.” Thus from December 15, following the report of the Special Committee of Five to the governing com- mittee of the Stock Exchange announcing that it might be reopened, until the following April of 1915, the Exchange explained that prices of securities were restricted as a safeguard against some unforeseen shock to confidence.

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