1929 Stock Market Crash :: essays research papers

The 1929 entrepot Market CrashIn early 1928 the Dow Jones just went from a low of 191 early in the year, to a high of 300 in December of 1928 and peaked at 381 in September of 1929. (1929) It was anticipated that the increases in earnings and dividends would continue. (1929) The price to earnings ratings rose from 10 to 12 to 20 and higher for the markets favorite stocks. (1929) Observers believed that stock market prices in the first 6 months of 1929 were high, while others saw them to be cheap. (1929) On October 3rd, the Dow Jones Average began to drop, declining through the week of October 14th. (1929)On the night of Monday, October 21st, 1929, borderline calls were heavy and Dutch and German calls came in from overseas to sell overnight for the Tuesday morning opening. (1929) On Tuesday morning, out-of-town banks and corporations sent in $150 million of call loans, and besiege Street was in a panic before the New York personal credit line Exchange opened. (1929)On Thursday, October 24th, 1929, people began to sell their stocks as fast as they could. Sell orders flooded the market exchanges. (1929) This day became known as blackamoor Thursday. (Black Thursday) On a normal day, only 750-800 members of the New York declination Exchange started the exchange. (1929) There were 1100 members on the floor for the morning opening. (1929) Furthermore, the exchange enjoin all employees to be on the floor since there were numerous margin calls and sell orders placed overnight. Extra telephone staff was also consistent at the members boxes around the floor. (1929) The Dow Jones Average closed at 299 that day. (1929)On Tuesday, October 29th, 1929, the crash began. (1929) Within the first fewer hours, the price cut back so far as to wipe out all gains that had been make the entire previous year. (1929) This day the Dow Jones Average would close at 230. (1929) amidst October 29th, and November 13 over 30 billion dollars disappeared from the American economy. ( 1929) It took nearly 25 years for many of the stocks to recover. (1929)By mid November, the value of the New York Stock Exchange listings had dropped over 40%, a loss of $26 billion. (1929-1931) At one point in the crash tickers were 68 minutes behind. (1929-1931) An average out of about $50,000,000 a minute was wiped out on the exchange. (1929-1931) A few investors that lost all of their money jumped to their deaths from office buildings.