THE
GREAT CRASH!
The 1929 stock market crash is conventionally said to have
occurred on Thursday the 24th and Tuesday the 29th of
October. These two dates have been nicknamed "Black Thursday" and
"Black Tuesday.” On September 3, 1929, the Dow Jones Industrial Average
reached a record high of 381.2. At the end of the market day on Thursday, October
24, the market was at 299.5, a 21% decline from the high. On this day the
market fell 33 points, a drop of 9%, on trading that was approximately three
times the normal daily volume for the first nine months of the year. By all
accounts, there was a selling panic. By November 13, 1929, the market had
fallen to 199. By the time the crash was completed in 1932, following an
unprecedentedly large economic depression, stocks had lost nearly 90% of their
value.
The events of Black Thursday are defined to be the start
of the stock market crash of 1929-1932, but the series of events leading to the
crash started before that date. One of the primary causes was the attempt by
important people and the media to stop market speculators. A second possible
cause was the great expansion of investment trusts, public utility holding
companies, and the amount of margin buying, all of which fueled the purchase of
public utility stocks, and drove up their prices. Public utilities, utility
holding companies, and investment trusts were all highly levered using large
amounts of debt and preferred stock. These factors seem to have set the stage
for the triggering event. This area was vulnerable to the arrival of bad news
regarding utility regulation. In October 1929, the bad news arrived and utility
stocks fell drastically. After the utilities decreased in price, margin buyers
had to sell and then there was panic selling of all stocks.
WOMAN FOUND DEAD AFTER HIT
AND RUN ACCIDENT
Last night George Wilson
grieved over the loss of his wife, Myrtle Wilson, who ran onto a road in the
Valley of Ashes and was struck by a car, losing her life. Michaelis, a good
friend of the family, said that Myrtle rushed out into the evening, waving her
hands and shouting. This frantic disturbance caught the person’s attention and
before he could get out of his front door, the accident had already happened.
As Myrtle ran blindly into the street like a madwoman, she was hit and killed
instantly by a car. Michaelis and another man reached her first and when they
tore her shirtwaist open, they noticed her left breast hanging loose and then
there was no need to listen for a heartbeat. Michaelis said that her mouth was
wide open and ripped at the corners. A witness at the scene of the crime said a
yellow car passed him further down the road going at least fifty or sixty miles
per hour. After learning more about the car that killed his dearest wife, a
neighbor said, “He grew quieter and began to talk about the yellow car.” Wilson
had declared that he had a way to find out whom the yellow car belonged to and
that his wife had come back from the city a few months before with a bruised
face and a swollen nose. George and Myrtle were having some sort of problem
with their marriage. George had suspected Myrtle of having an affair with Jay
Gatsby and automatically suspected him of killing her.
Last night George Wilson
grieved over the loss of his wife, Myrtle Wilson, who ran onto a road in the
Valley of Ashes and was struck by a car, losing her life. Michaelis, a good
friend of the family, said that Myrtle rushed out into the evening, waving her
hands and shouting. This frantic disturbance caught the person’s attention and
before he could get out of his front door, the accident had already happened.
As Myrtle ran blindly into the street like a madwoman, she was hit and killed
instantly by a car. Michaelis and another man reached her first and when they
tore her shirtwaist open, they noticed her left breast hanging loose and then
there was no need to listen for a heartbeat. Michaelis said that her mouth was
wide open and ripped at the corners. A witness at the scene of the crime said a
yellow car passed him further down the road going at least fifty or sixty miles
per hour. After learning more about the car that killed his dearest wife, a
neighbor said, “He grew quieter and began to talk about the yellow car.” Wilson
had declared that he had a way to find out whom the yellow car belonged to and
that his wife had come back from the city a few months before with a bruised
face and a swollen nose. George and Myrtle were having some sort of problem
with their marriage. George had suspected Myrtle of having an affair with Jay
Gatsby and automatically suspected him of killing her.
Last night George Wilson
grieved over the loss of his wife, Myrtle Wilson, who ran onto a road in the
Valley of Ashes and was struck by a car, losing her life. Michaelis, a good
friend of the family, said that Myrtle rushed out into the evening, waving her
hands and shouting. This frantic disturbance caught the person’s attention and
before he could get out of his front door, the accident had already happened.
As Myrtle ran blindly into the street like a madwoman, she was hit and killed
instantly by a car. Michaelis and another man reached her first and when they
tore her shirtwaist open, they noticed her left breast hanging loose and then
there was no need to listen for a heartbeat. Michaelis said that her mouth was
wide open and ripped at the corners. A witness at the scene of the crime said a
yellow car passed him further down the road going at least fifty or sixty miles
per hour. After learning more about the car that killed his dearest wife, a
neighbor said, “He grew quieter and began to talk about the yellow car.” Wilson
had declared that he had a way to find out whom the yellow car belonged to and
that his wife had come back from the city a few months before with a bruised
face and a swollen nose. George and Myrtle were having some sort of problem
with their marriage. George had suspected Myrtle of having an affair with Jay
Gatsby and automatically suspected him of killing her.
Last night George Wilson
grieved over the loss of his wife, Myrtle Wilson, who ran onto a road in the
Valley of Ashes and was struck by a car, losing her life. Michaelis, a good
friend of the family, said that Myrtle rushed out into the evening, waving her
hands and shouting. This frantic disturbance caught the person’s attention and
before he could get out of his front door, the accident had already happened.
As Myrtle ran blindly into the street like a madwoman, she was hit and killed
instantly by a car. Michaelis and another man reached her first and when they
tore her shirtwaist open, they noticed her left breast hanging loose and then
there was no need to listen for a heartbeat. Michaelis said that her mouth was
wide open and ripped at the corners. A witness at the scene of the crime said a
yellow car passed him further down the road going at least fifty or sixty miles
per hour. After learning more about the car that killed his dearest wife, a
neighbor said, “He grew quieter and began to talk about the yellow car.” Wilson
had declared that he had a way to find out whom the yellow car belonged to and
that his wife had come back from the city a few months before with a bruised
face and a swollen nose. George and Myrtle were having some sort of problem
with their marriage. George had suspected Myrtle of having an affair with Jay
Gatsby and automatically suspected him of killing her.
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