The stock market crash - and after

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Monograph

Identifikator:: 1815583320

URN:: urn:nbn:de:zbw-retromon-204544

Document type:: Monograph

Author:: Fisher, Irving http://d-nb.info/gnd/118533541

Title:: The stock market crash - and after

Place of publication:: New York

Publisher:: Macmillan

Year of publication:: 1930

Scope:: XXVI, 286 S.; graph. Darst

Digitisation:: 2022

Collection:: Economics Books

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

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter I. The Stock Market Crash

Collection:: Economics Books

The Stock Market Crash 9 It is significant that the bank stocks should have fallen in price so rapidly, despite the fact that margin requirements in these cases—although they are usually bought outright—ranged from 50 to 80 per cent. Presumably their fall signalized the distress of wealthy operators. The Big Market Drop On the 29th, the day of heaviest trading, not only for October but for all time, declines in a long list of well-known shares ran from 25 to 40 points, some of the highest grade shares showing losses from the previous week’s closing figures ranging from 735 to 87 points. This outpouring of stocks, thrown on the market regardless of price, came in the whirl of blind panic. Many holders later found that they had in- curred needless losses, while the buyers of the best of these stocks, at the depth of market demoralization, were fortunate indeed. It was manifest that many and capacious strong-boxes had been emptied of their contents in the midst of the hysteria of selling. Speculative plungers sent in orders from every corner of the land, and added to the chaos in this record speculative panic of stock market history. The out- siders constituted an army of camp followers whose number vastly exceeded those of the better disci- plined army of Wall Street. Favorable news made no impression on such a débacle. In vain the United States Steel Corpora- tion reported quarterly earnings with net receipts in August, except for the preceding May, the largest

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