The stock market crash - and after

Bibliographic data

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

16 ~~ The Stock Market Crash—And After cent within a fortnight. A further reduction of $710,000,000 in brokers’ loans was announced. The brokers’ loan account showed an aggregate contrac tion from the high level of October 2nd, of $2,632,- 000,000 and total borrowings at the lowest point since June 15, 1928. November 14th marked the point of rebound of the market, with speculative leaders rallying by 2 to 14 points and utilities sharing in the further ad- vances, in which merchandising shares also partici- pated. My index of 225 listed industrial common shares recorded the close on November 13th, as down by 42 per cent from the September 3rd peak. Beginnings of Recovery The recovery from the panic began on the 14th with further sweeping advances on the 15th, as the comprehensive program engineered by President Hoover for restoring confidence was being carried on. Many of the pivotal stocks had been “pegged,” by the expedient of placing large standing orders for substantial blocks at fixed prices. In the case of United States Steel a bid was announced as a stand- ing order for 200,000 shares at $150 a share. Cer- tain interests, supposed to be the Rockefellers, bought one million shares of Standard Oil of New Jersey at so. The Wall Street market letters imme- diately blossomed with bullish predictions, accom. panied by lists of stocks which, in the opinion of the

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