The Crash of 1929

1. The Crash of 1929 The Stock Market Crumbles

2. “Bull” Market – like a “bull” charging ever upward • in Sept., American stocks began to decrease in value • Cdn. stocks did, too • Investors start to lose confidence in the companies they’d invested in

3. “Bull” Market – like a “bull” charging ever upward • wanted to sell stocks before the stock prices fell further • Investors panicked and started unloading large quantities of stocks

4. Black Thurs., Oct. 24 • Winnipeg Grain Exchange collapsed • Widespread panic

6. Black Tues., Oct. 29 • widely recognized as THE Crash • NY (Wall Street), Toronto and Montreal stock exchanges crashed • stocks are worthless • TSX dropped $1 million/minute on 16 key companies

7. Results • financial ruin for investors • investors who bought stocks on margin now owed money to stockbrokers, couldn’t pay • stockbrokers couldn’t sell stocks to survive • in Canada, relatively few people owned stocks, but millions were affected by the results of the Crash of ’29.

8. 1929

9. Beginning of the Great Depression • farmers stop buying manufactured goods • manufacturers cut back on production • workers let go or salaries reduced • less money to buy goods • Less manufactured goods bought • And so on, and so on…