Währung und Handel

The stock market crash - and after

Bibliographic data

Monograph

Identifikator:: 826606091

URN:: urn:nbn:de:zbw-retromon-66614

Document type:: Monograph

Author:: Hertzka, Theodor http://d-nb.info/gnd/118825186

Title:: Währung und Handel

Place of publication:: Wien

Publisher:: Manz

Year of publication:: 1876

Scope:: 1 Online-Ressource (VIII, 416 S.)

Collection:: Economics Books

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

10 The Stock Market Crash—dAnd After of any month since the War, and, with its total for the quarter, exceeded only in the preceding quarter. The market had no ear for such news, because it was deafened by the stentorian voices of banks calling upon brokers and individuals to repay their loans, while a Babel of brokers’ yells and customers’ bel- lows made the financial welkin resound like a super- natural jazz band. Deaf, blind, and dizzy, the mar: ket fell, and then fell some more! The groups of men and women who watched the ticker tape unwind as their fortunes dwindled, or sat dumbfounded in customers’ rooms before the board, as their riches took wings, were the visible symbols of silent thousands among the masses of the Ameri- can people who had dumped their holdings into the lap of the stock market Moloch. One touch of nature had made the stock market trading world kin, and the butcher or baker who had lost a few stocks on margin drew the sympathy of millionaires who had helped swell the enormous totals of brokers’ loans and whose margin defenses had like- wise been shattered. Each day on the floor of the Stock Exchange the tumult and the shouting rose to crescendos during the five hours of market trading, dying only to rise again as the avalanche of selling orders fell, carrying prices down with them. Far out at sea the stock break overworked the radio on the ocean liners, putting the passengers into the Wall Street flurry. The crash in the market cut short holidays as hundreds of Ameri-

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