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 III. Causes of the Panic

Collection:: Economics Books

Causes of the Panic panic ensued. The reason, it seems to me, that these groups, such as notably the automobile group, were weak was because as early as last June it was apparent that automobile buying was falling off and that the automobile companies as a whole were run- ning into overproduction. Similar weaknesses in the building situation were apparent in the early summer and it is such fundamentals as these which, in my opinion, were the real reasons for the decline in prices.” Decision on Edison Company Stock-Split An important factor which contributed to bring- ing about the fall in prices, was the refusal of the Public Service Commission of the State of Massa- chusetts to permit the Edison Company of Boston to split its stock. The statements made in connec tion with this pointed to the high prices at which public utility securities were selling and the relation- ship which existed between earnings and market prices. Of course, the payment of stock dividends on these somewhat inflated stocks did tend to add to unhealthy speculation. The Public Service Com- mission's refusal to permit it further, discouraged the holders of public utility stocks in venturing to bid prices higher and so contributed to the break. Tax on Capital Gains The Federal law imposing a tax on capital gains helped bring on the panic. This resulted from over- extension on the part of borrowers, largely induced

Access restriction

Copyright

fullscreen: The stock market crash - and after

Monograph

Chapter

Table of contents

Download

Monograph

Chapter

This page

Image fragment

Citation links

Citation recommendation