Chapter VI: The

Chapter VI: The situation worsens Monday 28 October, Black Monday, back losses to the U.S. stock exchanges with an intensity previously unknown. The trading volume was 9.2 million shares (of which 3 million in the last hour of trading session) was lower than Thursday’s 24, but the drop was much larger and, moreover, there was no recovery at end of the day: the industrial index of The New York Times fell 45 points, for only 12 on Thursday. Again, the Wall Street bankers who gathered Thursday afternoon gathered for two hours to decide the line to follow. Having determined that the seller had set foot on the market in unstoppable form, resigned to keeping the price level with injections of funds. The bra, organized or otherwise, could not compete with the overwhelming and pathological desire to sell.The meeting had addressed how to liquidate the commitment to support the market without causing more alarm among the public. (…) For those who had made transactions, the disaster was only a letter, that is, the contraction of prices. And now they are going to let them down at will. The only consolation the speculator in future was ruined in an orderly and dignified. Chapter VI On Tuesday 29 October, Black Tuesday was the most tragic day in the history of world stock markets. From the very beginning of the market, sell orders flooded the market. The trading volume broke any previous record: 16.4 million shares (according to Galbraith, had it been maintained throughout the day the rhythm of the first half hour of the day after would have traded 33 million shares). However, many values of various economic sectors did not find any buyer, making it impossible to marry sales orders.The ticker, in turn, ended its communications with a delay of two hours on the closing bell. The industrial index of The New York Times fell 43 points, slightly less than in the previous session due to a slight recovery at the end of the day. Nevertheless, the worst outcomes were harvested by investment trusts, some of which suffered losses exceeding 50 percent. Wall Street bankers, at this point, not even raised the support price of securities, and even a rumor that had contributed to the stock market crash proceeding to massive sales of securities. Undoubtedly, the prestige of bankers fell even faster than the market. (…) Never in living memory was a group of men and bankers in New York so quickly ruined and lowered position: in five days, from 24 October to 29 November.Chapter VI On Wednesday, 30 October there was a strong recovery in the bag which causes, according to Galbraith, could be in the ad (perhaps private) of certain companies that increase their dividends. However, these gains were insufficient to offset losses from the previous days. Given the results reaped in recent sessions, and the depletion of workers and investors after a few frantic days, they raised the possibility of closing the bag for a few days. Members and employees of the bag were reaching the peak of tension and fatigue. Under such conditions the men faced with the terrifying task of recording and papers the largest mass of transactions ever recorded. (…) In one house, totally exhausted an employee fainted, was revived and is expiously returned to his work.(…) After the close on Tuesday 29 October a change agent found a wastebasket full of unfulfilled orders he had put aside to meet them once and then forgotten completely. One customer, whose term operation had gone from bad to worse, was cleared twice. (…) In fact, the different entities included in the bag no major mistakes, although one of them declared itself bankrupt due to a clerical error of some of its employees who had reached the limit of his strength. Chapter VI Finally, on Thursday 31 is made an abbreviated session (three hours) and Friday and Saturday Wall Street remainedclosed. With few exceptions, the days from Monday, November 4 were negative.