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The Day Wall Street Was Silent (1979)
Fifty years later: 1929 and all that rememberedWithout hearing a word of what is being said or shouted, any experienced trader on the floor of the New York Stock Exchange can listen to the hum of...
But Tuesday is nonetheless remembered as the truly black day: as frightened shareholders across the country rushed to sell, trading volume soared to an unprecedented 16,410,030 shares,— the Dow tumbled another 31 points, to 230, and it was clear to almost everyone that something catastrophic had taken place. Broker Jonas Ottens, 78, then an odd-lot order clerk with Salomon Bros., recalls being pressed into service to telephone customers to tell them that their margined stocks were to be sold off unless they put up more money. “Who else had any money left?”) New York Mayor Jimmy Walker asked movie theaters not to run newsreels of the Wall Street panic, but to show instead “pictures which will reinstate courage and hope in the hearts of the people.”
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