Word: panic
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Dates: during 1930-1939
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Archibald MacLeish has contributed "A Fragment of a Chorus" from his new play "Panic" which is going to be produced in New York this week...
...Government would calm the economic world, they were mistaken. In every market there was turmoil-orders to buy, buy, buy and few or none to sell. Within 15 minutes the Chicago Board of Trade, the grain markets of St. Louis and Kansas City were closed to prevent a buying panic. The New Orleans' Cotton Exchange stayed open and the price of cotton jumped $1 a bale. The New York Stock Exchange likewise continued to function, although the ticker fell eleven minutes behind sales. The stock of the Baltimore & Ohio-the gold clause of whose bonds had been specifically invalidated...
...branch, group, and chain banking. The Labor Board, he says, will probably be continued by means of revision or even a constitutional amendment, should the NRA be declared unconstitutional. In regard to the banking situation, he reviews the almost universal legislation against branch banking, and contends that the bank panic of 1933 proved the advisability of the branch system...
...Thursday, May 9, 1901, a young lumber merchant from Maine named Edward Allen Pierce went to work in Wall Street as a brokers' clerk at A. A. Housman & Co. That day was historic: by noon Wall Street had been thrown into a panic by the Northern Pacific corner. Broker Pierce learned to work twelve hours a day, still does. Elected a partner in 1909, he served his firm faithfully but unspectacularly for 18 years. Then, on Jan. 1, 1927, he announced the formation of E. A. Pierce & Co. to take over the business of Housman & Co. and six brokerage...
During the panic of 1857, when nearly every bank in the land suspended specie payments at least temporarily. Chemical continued to pay out cash on demand, much of it in good hard gold. Even today the bank is affectionately known to Wall Street oldsters as "Old Bullion...