Wall Street Crash Flashcards
What percentage of trades did the New York Stock Exchange handle in the US in the 1920’s?
62% of all trades
How much did stocks plunge by on the 24th October 1929?
Stocks plummeted by $11 billion
How much did JP invest in the market to help it recover?
$40 million
What was the solution that was agreed upon by bankers at J.P Morgan
To buy stocks at above the market rate
How did the bankers’ solution help companies?
U.S Steel stock prices rose to $15 a share
AT+T was up $32
Montgomery Ward was up $23
Why did the crash cause public concern on the 24th?
11 Stock speculators killed themselves
How many shares had changed hands on the 24th October?
13 million shares
What did stock prices drop by on October 28th?
Kodak dropped by $41
AT+T fell by $24
NY Railroad fell by $22
What was the average share price drop on October 29th?
12%
How many shares were sold on the 29th October?
16,410,030
What did White sewing Machine’s stocks drop to?
It dropped from $49 a share to $1 a share. A messenger was reported to have bought a share for a $dollar
How much was lost on October 29th?
$30 billion
What did stock prices drop from between 1929 and 1932?
They had dropped from 210 points to 30 points
12% of the 1929 value
How much did the U.S Stock market loses in Value by June 1932?
$179 billion
What had the unemployment rate increased to by 1933?
23% from the 3.2% in 1929
