August 2019 Auction Ends Thursday, August 29th, 5pm Pacific
This lot is closed for bidding. Bidding ended on 8/29/2019
''The New York Times'' from 30 October 1929 following ''Black Tuesday'' on 29 October, the panic-fueled day of selling that plunged the United States into the Great Depression. The record of over 16 million shares traded on Wall Street that day wouldn't be broken until nearly forty years later, and caused a loss of $14 billion dollars in value. ''The New York Times'' devotes four columns to its headline, ''Stocks Collapse in 16,410,030-Share Day, But Rally at Close Cheers Brokers; Bankers Optimistic, to Continue Aid'', with the use of the term ''Stocks Collapse'' extremely rare in reporting from that time. The coverage is tempered, though, with an almost eerily optimistic tone, clearly lacking the benefit of hindsight: sub-heads include ''Leaders See Fear Waning / Point to 'Lifting Spell's in Trading as Sign of Buying Activity.'' They continue, ''Hope Seen in Margin Cuts'', ''Sentiment in Wall St. More Cheerful'', ''Officials Are Optimistic'' and ''Bankers Believe Liquidation Now Has Run Its Course and Advise Purchases''. It wouldn't be until 8 July 1932, however, when stocks bottomed out, although the heaviest sell-off had already happened when this issue hit newsstands. Newspaper is very scarce, as the full impact of the crash and the Great Depression weren't anticipated at the time, and issue is complete, running 52pp., with coverage of the crash extending through page 7. Paper measures 17.75'' x 22.5''. Expected toning, but overall in very good to near fine condition given the fragility of newspaper, with very little chipping.
''The New York Times'' From 30 October 1929 Reporting on ''Black Tuesday'', the Stock Market Crash of 1929 With Headline ''Stocks Collapse in 16,410,030-Share Day''
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