ECON 319 Chapter Notes - Chapter 6-7: Wall Street Crash Of 1929, Foreign Corporation, Everyman
9 Feb 2017
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The nyse had been open for 112 years, and had seen some rough times. The difference between those rough times and the great crash was that the great crash just kept getting worse. On monday, october 28, 1929, volume was almost as large as the previous thursday, but there were more losses. Bankers had a meeting but didn"t release the full extent of what was going to happen to the press. The goal of bankers was to keep everything in order, not to save people from losing money. No one blamed the bankers yet for what was happening. On tuesday volume was higher than thursday, and price drops were almost as much as monday. Everyone was selling stocks and no one was buying them. At the end of the day stocks rallied a bit, which made the losses slightly better investment trusts were hit the worst, they dropped to almost nothing.
