A beautiful stock certificate from one of Philadelphia's vast array of trolley companies - the Empire Passenger Railway Company of the City of Philadelphia ... [ View ]

Today in 1929 was Black Thursday - the first taste of the Great Crash. At the opening bell, 150,000 shares of Cities Service, the oil company, trade hands for $8.4 million, the largest block trade of stock ever yet recorded. By 10:30 a.m., even the blue-chip stocks are dropping $5 to $10 with each trade, and the ticker tape is running 16 minutes late. By lunchtime, RCA is down 35%, and Montgomery Ward has nose-dived 39.9%. Then a bankers' pool is formed to put a floor under the plunging market. At 1:30 Richard Whitney president of the New York Stock Exchange and lead broker for J.P. Morgan & Co. marches up to the trading post for U.S. Steel and bids $205 for 25000 shares. That's $10 higher than the last bid and the panic breaks. Still the Dow closes down 2.1% on record volume of 12.895 million shares. The bull market of the 1920s is about to end and the Great Depression is waiting in the wings.

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POB 223     |     Cold Spring NY 10516    

All certificates are sold only as collectible pieces, as they are either canceled or obsolete. Certificates carry no value on any of today's financial indexes and no transfer of ownership is implied. Unless otherwise indicated, images are representative of the piece(s) you will receive.