Richard Whitney (1888-1974). The Work of the New York Stock Exchange in the Panic of 1929. N.p.: N.p., [1930]. 8vo. Original wrappers.
An address given to the Boston Association of Stock Exchange Firms at the Algonquin Club on 10 June 1930 by Richard Whitney, as President of the New York Stock Exchange. During the Wall Street Crash of 1929, Whitney attempted to avert the freefall. After a meeting with leading financiers, Whitney, then vice president of the Exchange, went to the floor and ostentatiously purchased blue-chip stocks above market value, a tactic similar to one that averted the Panic of 1907. While the slide was halted on the day, it was only temporary, and stocks subsequently collapsed catastrophically on October 29th. His actions earned him the sobriquet, the "White Knight of Wall Street."
Whitney would serve as the President of the New York Stock Exchange from 1930 to 1935; however, he was officially charged with embezzlement in 1938 and was sentenced to 10 years in Sing Sing Prison.
An uncommon pamphlet published in the midst of hte financial crisis.
[Pamphlets, Ephemera]
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