Mittheilungen aus der Geschäfts- und Sterblichkeits-Statistik der Lebensversicherungsbank für Deutschland zu Gotha für die fünfzig Jahre von 1829 - 1878

An Introduction to the theory of statistics

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Monograph

Identifikator:: 84518458X

URN:: urn:nbn:de:zbw-retromon-94409

Document type:: Monograph

Title:: Mittheilungen aus der Geschäfts- und Sterblichkeits-Statistik der Lebensversicherungsbank für Deutschland zu Gotha für die fünfzig Jahre von 1829 - 1878

Place of publication:: Weimar

Publisher:: Böhlau

Year of publication:: 1880

Scope:: 1 Online-Ressource (88 S., [54] Bl.)

Collection:: Economics Books

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

14 The Stock Market Crash—And After first two hours’ trading on the 12th witnessed a turn- over of 4,200,000 shares, and of 6,452,770 shares in the three-hour market. On the following day, November 13th, a renewed break in stocks under the push of heavy trading occasioned the following com- ment by the financial editor of the New York Times: “Yesterday's stock market calls for comment of a different kind than was required on other recent days. It pointed urgently to the exercise of financial com- mon sense. The market’s character and the further heavy break in prices (on transactions nearly twice as large as Monday's) strongly suggested other sell- ing than necessary liquidation [that is, ‘short’ sell- ing]. If the stocks which were pressed at a sacrifice on yesterday's unreceptive market had actually all represented ‘distress holdings’ taken over by strong banks and individuals two weeks ago, then the man. ner of marketing them yesterday would have been most injudicious. It is a cardinal maxim of such emergency relief that liquidation of shares thus taken over should be cautious that it should be pursued in close conformity with the state of the market; that the stocks should never be thrown over hastily in face of crumbling prices. A prudent holder, under such conditions as yesterday, would not think of forc- ng them to a sale * Plateau of Stock Prices Maintained This comment might have referred to the con- viction of a major bear raid in process. It is sig-

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Object: The stock market crash - and after

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