stock-market-crash-hf.jpg“BLACK TUESDAY” WIPES OUT INVESTORS

Brooklyn Daily Eagle
Tuesday, Oct. 29, 1929

The front page banner headline says it all: “BANK AID FAILS IN STOCK DUMPING.” Secondary headline screams: “8,370,000 SHARES SOLD BY NOON AS HYSTERIA REIGNS.” The story begins: “Stocks crashed again today under another wave of panicky selling, a wave that has never before been equalled. Thousands of shares were dumped overboard in blocks and the market was completely demoralized.” This issue also publishes the losses of the largest U.S. companies like American Telephone, General Motors and others.

The most famous day in stock market history, “Black Tuesday,” took place 75 years ago on October 29th, 1929. It is often thought of as the day that sent the United States into the Great Depression. By the end of the day, some 16.4 million shares had traded, fortunes were lost, and the Roaring Twenties came to an abrupt halt. Stock prices didn’t recover to pre-1929 levels until 1954!

I rarely am able to locate even a single Stock Market Crash newspaper from 1929, so it came as a surprise when this issue found its way into our inventory. It’s the complete newspaper in very good condition with some minor chipping at the right margin affecting a few letters.  I would absolutely have this professionally framed for my office or boardroom.  It shouldn’t last long.