Word: york
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Dates: during 1930-1939
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...panic. But the London Exchange had had business as usual that Thursday. Many a U. S. businessman waved away Wilhelm's ultimatum as "pure bluff." At 23 Wall Street Mr. Morgan & friends emerged from meeting after three hours, confident there would be no World War. They announced the New York Exchange would remain open as long as there were buyers. Then they left dank Manhattan...
Friday at dawn, lights were still burning in the Stock Exchange where a skeleton summer clerical staff was compiling the transactions of the biggest trading day (1,306,690 shares) since October, 1911. The New York Times average of 50 stocks, standing at $64.69 on Monday, had dropped 10% to $57.77 by Thursday. European holders of U. S. stocks were jettisoning their financial cargoes and the panic had spread to U. S. investors. By 9 a. m., brokers were swamped by a tidal wave of selling orders...
...place, had no part in doing so again. With his 72nd birthday only a week off, he was on the high seas (on his way home from grouse shooting in Scotland), cut off from all communication with the world as the Queen Mary, with radio silenced, sped toward New York...
...extras, the stockmarket zoomed. One day's listless market (457,890 shares) became peacetime financial history. The next morning as the Germans entered Poland, 1,970,000 shares (1939's daily average 720,072 shares; 1939's biggest day, 2,888,000 shares) changed hands on the New York Stock Exchange. War babies (steel, metals, aircrafts) led the advance. Bethlehem Steel, Santa Claus to many a World War I investor, zoomed 7: points (to 65), Anaconda Copper was up 4? (to 28?). Aircraft stocks all took off, registered gains of 7.5% to 18.1%. The Dow-Jones industrial average...
This time the chief guardian of U. S. markets was George L. Harrison, president of the Federal Reserve Bank of New York. To aid him he had a crisis committee of nine, and after a fashion history repeated itself: as a member of the committee (as a representative of investment bankers) sat J. P. Morgan's son, slickhaired, tightlipped, amiable Henry Sturgis Morgan (aged 38) of Morgan Stanley...