Fifty Years in Wall Street

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John Wiley & Sons, 10. mai 2006 - 360 sider
The definitive look at Wall Street in the 19th Century

Perhaps the 19th century's best book on Wall Street, Fifty Years in Wall Street provides a fascinating look at the financial markets during a period of rapid economic expansion. Henry Clews was a giant figure in finance at that time, and his firsthand account brings this colorful era to life like never before. He reveals shocking stories of political and economic manipulation and how he helped bring down the mighty Boss Tweed. He writes eloquently about the madness of the markets and how the era's greatest speculators amassed their fortunes. This book provides an expansive view of Wall Street in an era of little regulation, rampant political corruption, and rapid financial change.

Henry Clews was born in England in 1836 and emigrated to the United States in 1850. In 1859, he cofounded what became the second largest marketer of federal bonds during the Civil War. Later, he organized the "Committee of 70," which deposed the corrupt Tweed Ring in New York City, and served as an economic consultant to President Ulysses Grant.

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Utvalgte sider

Innhold

Chapter 17 GRANTS SECOND TERM
187
Chapter 18 THE TWEED RING AND THE COMMITTEE OF SEVENTY
203
Chapter 19 DANIEL DREW
213
Chapter 20 INTERESTING EPISODES IN DREWS LIFE
223
Chapter 21 WILLIAM H VANDERBILT
233
Chapter 22 YOUNG CORNEEL
253
Chapter 23 DREW AND VANDERBILT
265
Chapter 24 JAY GOULD
273

Chapter 9 DREW AND THE ERIE CORNERS
77
Chapter 10 PANICSTHEIR CAUSESHOW FAR PREVENTABLE
87
Chapter 11 OLD TIME PANICS
103
Chapter 12 THE TRUE STORY OF BLACK FRIDAY TOLD FOR THE FIRST TIME
109
Chapter 13 OUR GREAT AMERICAN PANICS FROM FIRST TO LAST
129
Chapter 14 BOOMS IN WALL STREET
141
Chapter 15 WALL STREETS WILD SPECULATION 19001904
155
Chapter 16 THE UPS AND DOWNS OF WALL STREET
171
Chapter 25 KEENES CAREER
313
Chapter 26 VILLARD AND HIS SPECULATIONS
325
Chapter 27 FERDINAND WARD
331
Chapter 28 HENRY N SMITH
339
Chapter 29 CHARLES F WOERISHOFFER
345
Chapter 30 WHY I AM AN AMERICAN
357
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Side 159 - There was a sound of revelry by night, And Belgium's capital had gathered then Her Beauty and her Chivalry, and bright The lamps shone o'er fair women and brave men ; A thousand hearts beat happily ; and when Music arose with its voluptuous swell, Soft eyes looked love to eyes which spake again, And all went merry as a marriage bell...
Side 159 - twas but the wind, Or the car rattling o'er the stony street; On with the dance! let joy be unconfined; No sleep till morn, when Youth and Pleasure meet To chase the glowing Hours with flying feet But hark!
Side 78 - If this printing press don't break down, I'll be dd if I don't give the old hog all he wants of Erie.
Side 82 - ... that doubts had been raised as to the legality of the recent issue of some two hundred thousand shares of stock, and that only about this amount was to be had in America ; the trustee therefore petitioned for authority to use the funds of the corporation to purchase and cancel the whole of this amount at any price less than the par value, without regard to the rate at which it had been issued. The desired authority was conferred by Mr. Justice Barnard as soon as asked. Human assurance could go...
Side 122 - He then told me that he had sent it, that Mr. Gould had sold $500,000 in gold belonging to Mrs. Grant, which cost 32, for 37 or something in that neighborhood, leaving a balance in her favor of about £27,000, and that a check for $25,rOO had been sent. Said I : ' Mr. Corbin, what can you show me that goes still further than your talk f ' Oh, well,' the old man said, ' I can't show you anything, but,' said he,
Side 8 - Wall Street, hobbling down on their canes to their brokers' offices. Then they always buy good stocks to the extent of their bank balances, which have been permitted to accumulate for just such an emergency. The panic usually rages until enough of these cash purchases of stock is made to afford a big "rake in." When the panic has spent its force, these old fellows, who have been resting judiciously on their oars in expectation of the inevitable event, which usually returns with the regularity of...
Side 116 - He then asked me what I thought about it. I remarked that I thought if that policy was carried out, it would produce great distress, and almost lead to civil war; it would produce strikes among the workmen, and the workshops to a great extent would have to be closed; the manufactories would have to stop. I took the ground...
Side 284 - The Knights of Labor have undertaken to test, upon a large scale, the application of compulsion as a means of enforcing their demands. The point to be determined is whether capital or labor shall, in future, determine the terms upon which the invested resources of the nation are to be employed. To the employer, it is a question whether his individual rights as to the control of his property shall be so far overborne as to not only deprive him of his freedom but also expose him to interferences seriously...
Side 78 - I thought, if these sort of men always wear that sort of shoe, I might want a pair. He said I must take my position as I found it ; that there I was, and he would keep his bloodhounds (the lawyers) on our track; that he would be damned if he didn't keep them after us if we didn't take the stock off his hands. I told him that if I had my way, I'd be damned if I would take a share of it ; that he brought the punishment on himself and he deserved it. This mellowed him down. I told him that he was a...

Om forfatteren (2006)

Henry Clews was born in England in 1836 and emigrated to the United States in 1850. In 1859, he confounded the banking firm that later became Livermore, Clews, and Company, which was the second largest marketer of federal bonds during the Civil War. Later, Clews organized the Committee of Seventy, Which deposed the corrupt Tweed Ring in New York City. He also served as an economic consultant to President Ulysses Grant and wrote and lectured widely on diverse economic and political issues.

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