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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] |
1901 In New York City
Nineteen or 19 may refer to: * 19 (number), the natural number following 18 and preceding 20 * one of the years 19 BC, AD 19, 1919, 2019 Films * ''19'' (film), a 2001 Japanese film * ''Nineteen'' (film), a 1987 science fiction film Music * 19 (band), a Japanese pop music duo Albums * ''19'' (Adele album), 2008 * ''19'', a 2003 album by Alsou * ''19'', a 2006 album by Evan Yo * ''19'', a 2018 album by MHD * ''19'', one half of the double album ''63/19'' by Kool A.D. * ''Number Nineteen'', a 1971 album by American jazz pianist Mal Waldron * ''XIX'' (EP), a 2019 EP by 1the9 Songs * "19" (song), a 1985 song by British musician Paul Hardcastle. * "Nineteen", a song by Bad4Good from the 1992 album ''Refugee'' * "Nineteen", a song by Karma to Burn from the 2001 album ''Almost Heathen''. * "Nineteen" (song), a 2007 song by American singer Billy Ray Cyrus. * "Nineteen", a song by Tegan and Sara from the 2007 album '' The Con''. * "XIX" (song), a 2014 song by Slipknot. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1901 In Economics
Nineteen or 19 may refer to: * 19 (number), the natural number following 18 and preceding 20 * one of the years 19 BC, AD 19, 1919, 2019 Films * ''19'' (film), a 2001 Japanese film * ''Nineteen'' (film), a 1987 science fiction film Music * 19 (band), a Japanese pop music duo Albums * ''19'' (Adele album), 2008 * ''19'', a 2003 album by Alsou * ''19'', a 2006 album by Evan Yo * ''19'', a 2018 album by MHD * ''19'', one half of the double album ''63/19'' by Kool A.D. * ''Number Nineteen'', a 1971 album by American jazz pianist Mal Waldron * ''XIX'' (EP), a 2019 EP by 1the9 Songs * "19" (song), a 1985 song by British musician Paul Hardcastle. * "Nineteen", a song by Bad4Good from the 1992 album ''Refugee'' * "Nineteen", a song by Karma to Burn from the 2001 album ''Almost Heathen''. * "Nineteen" (song), a 2007 song by American singer Billy Ray Cyrus. * "Nineteen", a song by Tegan and Sara from the 2007 album '' The Con''. * "XIX" (song), a 2014 song by Slipknot. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Great Depression
The Great Depression (19291939) was an economic shock that impacted most countries across the world. It was a period of economic depression that became evident after a major fall in stock prices in the United States. The economic contagion began around September and led to the Wall Street stock market crash of October 24 (Black Thursday). It was the longest, deepest, and most widespread depression of the 20th century. Between 1929 and 1932, worldwide gross domestic product (GDP) fell by an estimated 15%. By comparison, worldwide GDP fell by less than 1% from 2008 to 2009 during the Great Recession. Some economies started to recover by the mid-1930s. However, in many countries, the negative effects of the Great Depression lasted until the beginning of World War II. Devastating effects were seen in both rich and poor countries with falling personal income, prices, tax revenues, and profits. International trade fell by more than 50%, unemployment in the U.S. rose to 23% and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Northern Securities Co
Northern may refer to the following: Geography * North, a point in direction * Northern Europe, the northern part or region of Europe * Northern Highland, a region of Wisconsin, United States * Northern Province, Sri Lanka * Northern Range, a range of hills in Trinidad Schools * Northern Collegiate Institute and Vocational School (NCIVS), a school in Sarnia, Canada * Northern Secondary School, Toronto, Canada * Northern Secondary School (Sturgeon Falls), Ontario, Canada * Northern University (other), various institutions * Northern Guilford High School, a public high school in Greensboro, North Carolina Companies * Arriva Rail North, a former train operating company in northern England * Northern Bank, commercial bank in Northern Ireland * Northern Foods, based in Leeds, England * Northern Pictures, an Australian-based television production company * Northern Rail, a former train operating company in northern England * Northern Railway of Canada, a defunct railway in On ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sherman Antitrust Act
The Sherman Antitrust Act of 1890 (, ) is a United States antitrust law which prescribes the rule of free competition among those engaged in commerce. It was passed by Congress and is named for Senator John Sherman, its principal author. The Sherman Act broadly prohibits 1) anticompetitive agreements and 2) unilateral conduct that monopolizes or attempts to monopolize the relevant market. The Act authorizes the Department of Justice to bring suits to enjoin (i.e. prohibit) conduct violating the Act, and additionally authorizes private parties injured by conduct violating the Act to bring suits for treble damages (i.e. three times as much money in damages as the violation cost them). Over time, the federal courts have developed a body of law under the Sherman Act making certain types of anticompetitive conduct per se illegal, and subjecting other types of conduct to case-by-case analysis regarding whether the conduct unreasonably restrains trade. The law attempts to prevent ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Great Northern Railway (U
Great Northern Railway or Great Northern Railroad may refer to: Australia *Great Northern Railway (Queensland) in Australia *Great Northern Rail Services in Victoria, Australia *Central Australia Railway was known as the great Northern Railway in the 1890s in South Australia *Main North railway line, New South Wales (Australia) Canada *Great Northern Railway of Canada Ireland *Great Northern Railway (Ireland) New Zealand *Kingston Branch (New Zealand) in Southland *Main North Line, New Zealand and Waiau Branch in Canterbury United Kingdom *Great Northern Railway (Great Britain) **Thameslink and Great Northern, a current operator of trains on this route United States *Great Northern Railway (U.S.), now part of the BNSF Railway system *International – Great Northern Railroad in Texas, U.S., now part of the Union Pacific Railroad *New Orleans, Jackson and Great Northern The New Orleans, Jackson and Great Northern was a gauge railway originally commissioned by the St ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Steel
United States Steel Corporation, more commonly known as U.S. Steel, is an American integrated steel producer headquartered in Pittsburgh, Pennsylvania, with production operations primarily in the United States of America and in several countries across Central Europe. It was the 8th largest steel producer in the world in 2008. By 2018, the company was the world's 38th-largest steel producer and the second-largest in the United States behind Nucor Corporation. Though renamed USX Corporation in 1986, the company was renamed United States Steel in 2001 after spinning off its energy business, including Marathon Oil, and other assets from its core steel concern. History Formation J. P. Morgan formed U.S. Steel on March 2, 1901 (incorporated on February 25), by financing the merger of Andrew Carnegie's Carnegie Steel Company with Elbert H. Gary's Federal Steel Company and William Henry "Judge" Moore's National Steel Company for $492 million ($ billion today). At one time, U.S. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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