Word: tuesday
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Dates: during 1970-1979
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...that rule. One day 50 years ago next week, recalls David Granger, 76, a senior partner at Granger & Co., a Wall Street brokerage house, "there was a hush over the floor that I've never heard since. It was funereal." Indeed, it was Oct. 29, 1929 -Black Tuesday, the most cataclysmic day of the Great Crash. It was the day prosperity died and the U.S. economy began the decline that culminated in more than ten years of Depression and national anguish...
...That was when the Dow Jones industrial average, having already slipped in seven weeks from its record high of 381, dropped by six points on spectacularly high volume to 299. The plunge continued on Friday, on a half-day session Saturday, and on Monday as well. 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. The Dow was down...
...decline turned into a rout on Oct. 24, five days before Black Tuesday, and in the days and weeks that followed Wall Street was like a city under siege. 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. "The first call was routine," he remembers. "But the second man acted so upset that I thought he was going to go out and kill himself. I just refused to make...
Leonard Jarvis, 75, now a senior vice president with Shearson Hay den Stone, remembers Black Tuesday as "a bloodbath. It was horrible." In the days after the crash, he says, several of his friends committed suicide, one by jumping off the Daily News Building, another by leaping from his commuter train. One man asked a friend of Jarvis how someone could kill himself without pain; a drug was mentioned and the next morning the questioner was dead. Two weeks later the man who advised him shot himself. "They went one after another," says Jarvis. "They couldn't stand...
...Presidential campaigns touched down at Harvard Tuesday, one year and two weeks before the final election. California Gov. and unannounced Democratic candidate JERRY BROWN [left] demanded increased public control of private business and criticized forced busgng before a jampacked Sanders Theater audience. Republican presidential hopeful JOHN B. ANDERSON [R-Ill.] (right) said the country must strengthen itself domestically to reaffirm its standing in the eyes of the world...