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In November 1929, U.S. Senator Carter Glass said, "Mitchell more than any 50 men is responsible for this stock crash." [ 3 ] Mitchell's townhouse on Fifth Avenue , built for him by Walker & Gillette in 1926, with a rusticated facade in the manner of a 16th-century Roman palazzo, now houses the Consulate General of France, New York City .
Arthur William Cutten (July 6, 1870 – June 24, 1936) was a Canadian-born businessman who gained great wealth and prominence as a commodity speculator in the United States. He was called to appear before the Banking and Currency Committee in regard to the causes of the Wall Street Crash of 1929.
The Dow Jones Industrial Average, 1928–1930. The "Roaring Twenties", the decade following World War I that led to the crash, [4] was a time of wealth and excess.Building on post-war optimism, rural Americans migrated to the cities in vast numbers throughout the decade with hopes of finding a more prosperous life in the ever-growing expansion of America's industrial sector.
By the spring, he was down over $6 million on paper. However, upon the Wall Street Crash of 1929, he netted approximately $100 million. [6] Following a series of newspaper articles declaring him the "Great Bear of Wall Street", he was blamed for the crash by the public and received death threats, leading him to hire an armed bodyguard. [10]
In October 1929, the Wall Street Crash occurred and the Great Depression in the United States began. [124] Roosevelt saw the seriousness of the situation and established a state employment commission. He also became the first governor to publicly endorse the idea of unemployment insurance. [125]
William Peter Hamilton (January 20, 1867 – December 9, 1929), a proponent of Dow Theory, was the fourth editor of the Wall Street Journal, serving in that capacity for more than 20 years (i.e., January 1, 1908 – December 9, 1929). [1] [2] [3] "Some people think and others do. Dow thought and created an index and pondered it.
October 12, 1929: James Scullin wins election to become new Prime Minister of Australia October 24, 1929: Panic selling begins on Wall Street when the New York Stock Exchange opens as investors scramble to pay "margin calls", a day commemorated as "Black Thursday" and as the start of the Great Depression October 3, 1929: The Kingdom of the Serbs, Croats and Slovenes officially shortens name to ...
Herbert Clark Hoover (August 10, 1874 – October 20, 1964) was the 31st president of the United States, serving from 1929 to 1933.A wealthy mining engineer before his presidency, Hoover led the wartime Commission for Relief in Belgium and was the director of the U.S. Food Administration, followed by post-war relief of Europe.