tailieunhanh - THE NEW YORK STOCK EXCHANGE IN THE CRISIS OF 1914

The year 1914 has no precedent in Stock Exchange history. At the present time (1915), when the great events that have come to pass are still close to us, even their details are vivid in our minds and we need no one to rehearse them. Time, however, is quick to dim even acute memories, and Wall Street, of all places, is the land of forgetfulness. The new happenings of all the World crowd upon each other so fast in the financial district that even the greatest and most far-reaching of them are soon driven out of sight. This being. | THE NEW YORK STOCK EXCHANGE IN THE CRISIS OF 1914 BY H. G. S. NOBLE PRESIDENT GARDEN CITY NEW YORK THE COUNTRY LIFE PRESS 1915 Copyright 1915 The Country Life Press INTRODUCTION The year 1914 has no precedent in Stock Exchange history. At the present time 1915 when the great events that have come to pass are still close to us even their details are vivid in our minds and we need no one to rehearse them. Time however is quick to dim even acute memories and Wall Street of all places is the land of forgetfulness. The new happenings of all the World crowd upon each other so fast in the financial district that even the greatest and most far-reaching of them are soon driven out of sight. This being the case it has seemed to the writer of these pages that some record should be kept among the brokerage fraternity of what was so great an epoch in their history and that this record could best be written down by one who happened to be very favorably placed to know the story in its entirety. Of course the archives of the Exchange will always contain the minutes of Committees and other documentary material embodying the story of the past but this dry chronicle is never likely to see the light except when unearthed by law courts or legislative committees. It seems worth while therefore to disentangle the essential thread of the tale of 1914 from the mass of unreadable detail in the minute books and put it in a shape where those who are interested may look it over. Pg ii This is not an easy task. To differentiate the interesting and the essential from the mass of routine material is perhaps not very difficult but to present this segregated matter in a form that will not be monotonous is much more of a problem. The proceedings of a Committee that has been in continuous session must when written down partake of the nature of a diary and to that extent be tiresome reading. We shall therefore have to ask the indulgence of any one who happens to look into these pages and beg him to .