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Panic Of 1901
The Panic of 1901 was the first stock market crash on the New York Stock Exchange, caused in part by struggles between E. H. Harriman, Jacob Schiff, and J. P. Morgan/ James J. Hill for the financial control of the Northern Pacific Railway. The stock cornering was orchestrated by James Stillman and William Rockefeller's First National City Bank financed with Standard Oil money. After reaching a compromise, the moguls formed the Northern Securities Company. As a result of the panic, thousands of small investors were ruined. Key players One of the key players in this was Harriman, who "by 1898…was chairman of the executive committee of the Union Pacific and he ruled without dissent. But he speculated heavily with Union Pacific holdings, and his attempt to monopolize the Chicago rail market led to the Panic of 1901." Causes One of the causes of this stock market crash was Harriman's effort to gain control of Northern Pacific by buying up its stock. The panic began when the market ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stock Market Crash
A stock market crash is a sudden dramatic decline of stock In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''especially AmE'' one of the shares into which ownership of a company ... prices across a major cross-section of a stock market, resulting in a significant loss of paper wealth. Crashes are driven by panic selling and underlying economic factors. They often follow speculation and economic bubbles. A stock market crash is a social phenomenon where external economic events combine with crowd psychology in a positive feedback loop where selling by some market participants drives more market participants to sell. Generally speaking, crashes usually occur under the following conditions: a prolonged period of rising stock prices (a Market trend#Market terminology, bull market) and excessive economic optimism, a market where price–earnings ratios exce ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Amalgamated Copper
The Anaconda Copper Mining Company, known as the Amalgamated Copper Company between 1899 to 1915, was an American mining company headquartered in Butte, Montana. It was one of the largest trusts of the early 20th century and one of the largest mining companies in the world for much of the 20th century. Marcus Daly bought the original silver mine, named the Anaconda, in 1880. Daly partnered with George Hearst, James Ben Ali Haggin and Lloyd Tevis in 1881 to develop it, and the company expanded dramatically in 1882 with the discovery of huge copper deposits. In 1883, Daly began building a smelter and the town of Anaconda to process copper mined in Butte. In 1899, with Hearst and Tevis deceased, Haggin retired and Daly restructured the company, into the Amalgamated Copper Company bringing in H H Rogers and William Rockefeller. By 1910, Amalgamated had expanded its operations and bought the assets of all other copper companies operating in Butte. In 1922, Anaconda bought mining ope ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stock Market Crashes
A stock market crash is a sudden dramatic decline of stock prices across a major cross-section of a stock market, resulting in a significant loss of paper wealth. Crashes are driven by panic selling and underlying economic factors. They often follow speculation and economic bubbles. A stock market crash is a social phenomenon where external economic events combine with crowd psychology in a positive feedback loop where selling by some market participants drives more market participants to sell. Generally speaking, crashes usually occur under the following conditions: a prolonged period of rising stock prices (a bull market) and excessive economic optimism, a market where price–earnings ratios exceed long-term averages, and extensive use of Margin (economics), margin debt and leverage by market participants. Other aspects such as wars, large corporate hacks, changes in federal laws and regulations, and natural disasters within economically productive areas may also influence a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Crises In The United States
An economy is an area of the production, distribution and trade, as well as consumption of goods and services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of scarce resources'. A given economy is a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure, legal systems, and natural resources as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions. In other words, the economic domain is a social domain of interrelated human practices and transactions that does not stand alone. Economic agents can be individuals, businesses, organizations, or governments. Economic transactions occur when two groups or parties agree to the value or price of the transacted good or service, commonly expressed in a certain currency. Howev ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
May 1901 Events
May is the fifth month of the year in the Julian and Gregorian calendars and is the third of seven months to have a length of 31 days. May is a month of spring in the Northern Hemisphere, and autumn in the Southern Hemisphere. Therefore, May in the Southern Hemisphere is the seasonal equivalent of November in the Northern Hemisphere and vice versa. Late May typically marks the start of the summer vacation season in the United States (Memorial Day) and Canada (Victoria Day) that ends on Labor Day, the first Monday of September. May (in Latin, ''Maius'') was named for the Greek goddess Maia, who was identified with the Roman era goddess of fertility, Bona Dea, whose festival was held in May. Conversely, the Roman poet Ovid provides a second etymology, in which he says that the month of May is named for the ''maiores,'' Latin for "elders," and that the following month (June) is named for the ''iuniores,'' or "young people" (''Fasti VI.88''). Eta Aquariids meteor shower appea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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