{"id":2377,"date":"2012-10-24T12:01:00","date_gmt":"2012-10-24T12:01:00","guid":{"rendered":"http:\/\/newsinteractive.post-gazette.com\/thedigs\/?p=2377"},"modified":"2014-12-23T07:52:20","modified_gmt":"2014-12-23T07:52:20","slug":"black-thursday-of-1929","status":"publish","type":"post","link":"https:\/\/newsinteractive.post-gazette.com\/thedigs\/2012\/10\/24\/black-thursday-of-1929\/","title":{"rendered":"Black Thursday of 1929"},"content":{"rendered":"
\"\" <\/a> <\/div> <\/div> <\/div> <\/div>\n
\n

Oct. 24, 1929:<\/strong> Anyone who follows the stock market regularly can tell you that it crashed on Oct. 29, 1929, a day known as Black Tuesday. Far fewer people recall that it was preceded by Black Thursday on Oct. 24, 1929.<\/p>\n<\/div>\n

In a front page story, W.W. Forster, financial editor of the Pittsburgh Press, called Black Thursday \u201cthe wildest day in stock market history\u201d and reported that stock tickers ran more than three hours late.<\/div>\n
<\/div>\n
\u201cA stock panic surely was in progress and consternation gripped Wall Street,\u201d Mr. Forster wrote. \u201cTraders in the street had become so panicky that they threw stocks overboard in a wholesale manner and without consideration of price. Orders swept in from all sections of the United States and again tickers were utterly unable to keep pace with transactions. Traders at times were unable to execute orders and wide variations in prices were known to exist. No one seemed to know what was going on.\u201d<\/div>\n
<\/div>\n
Market wizards convened at the offices of the J. P. Morgan Co. and the Federal Reserve met but took no action. Although The Pittsurgh Press sent a telegram to Washington, D.C. to reach Pittsburgh native Andrew W. Mellon, the secretary of the U.S. Treasury remained characteristically silent and would not comment.<\/div>\n","protected":false},"excerpt":{"rendered":"

\u201cA stock panic surely was in progress and consternation gripped Wall Street.\u201d<\/p>\n

Look at the picturesBlack Thursday of 1929<\/span><\/a><\/p>","protected":false},"author":3,"featured_media":2378,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[948],"tags":[958,959,980,1042,1048],"jetpack_publicize_connections":[],"acf":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/newsinteractive.post-gazette.com\/thedigs\/wp-content\/uploads\/2012\/10\/tumblr_mccwojc8qR1rr5swxo1_1280.jpg?fit=1280%2C960&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":2380,"url":"https:\/\/newsinteractive.post-gazette.com\/thedigs\/2012\/10\/24\/oct-29-1929-if-stock-market-investors-thought\/","url_meta":{"origin":2377,"position":0},"title":"The Great Crash of 1929","date":"October 24, 2012","format":"gallery","excerpt":"W.W. Forster, Financial Editor for The Pittsburgh Press, reported that billions of dollars were lost in the hurricane of tumbling prices.","rel":"","context":"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/newsinteractive.post-gazette.com\/thedigs\/wp-content\/uploads\/2012\/10\/tumblr_mcczr9zZiN1rr5swxo1_1280.jpg?fit=1200%2C927&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":893,"url":"https:\/\/newsinteractive.post-gazette.com\/thedigs\/2014\/03\/05\/the-allegheny-county-morgue-on-the-move\/","url_meta":{"origin":2377,"position":1},"title":"The Allegheny County Morgue on the move","date":"March 5, 2014","format":"gallery","excerpt":"A few months before the October 1929 stock market crash, the Allegheny County Morgue finished rolling.","rel":"","context":"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/newsinteractive.post-gazette.com\/thedigs\/wp-content\/uploads\/2014\/03\/tumblr_n1mmbfBkM41rr5swxo7_r1_1280.jpg?fit=1200%2C1159&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":752,"url":"https:\/\/newsinteractive.post-gazette.com\/thedigs\/2014\/04\/18\/double-gas-explosions-in-munhall\/","url_meta":{"origin":2377,"position":2},"title":"Double gas explosions in Munhall","date":"April 18, 2014","format":"gallery","excerpt":"A faulty gas line exploded and killed six people on Dec. 5, 1929.","rel":"","context":"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/newsinteractive.post-gazette.com\/thedigs\/wp-content\/uploads\/2014\/04\/tumblr_n474jw4MFb1rr5swxo7_1280.jpg?fit=1000%2C726&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":9921,"url":"https:\/\/newsinteractive.post-gazette.com\/thedigs\/2021\/03\/09\/the-nations-first-armored-car-robbery-took-place-here-in-1927\/","url_meta":{"origin":2377,"position":3},"title":"The nation’s first armored car robbery took place here in 1927","date":"March 9, 2021","format":false,"excerpt":"By Steve Mellon\/Post-Gazette William Tarr worked as a chauffeur and a salesman before landing a job as a driver for the Brinks Express Co. in the 1920s. It was a dangerous gig. The Brinks company delivered payroll to coal mining companies in the South Hills. Bandits lurked along the area\u2019s\u2026","rel":"","context":"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/newsinteractive.post-gazette.com\/thedigs\/wp-content\/uploads\/2021\/03\/web20210310Jawarski01.jpg?fit=1200%2C800&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":6011,"url":"https:\/\/newsinteractive.post-gazette.com\/thedigs\/2015\/10\/21\/who-wouldnt-want-to-take-a-chopper-from-pittsburgh-downtown-to-airport\/","url_meta":{"origin":2377,"position":4},"title":"Who wouldn’t want to take a chopper from downtown Pittsburgh to the airport?","date":"October 21, 2015","format":false,"excerpt":"Both companies called Pittsburgh Airways were doomed to fail, for different reasons.","rel":"","context":"","img":{"alt_text":"Celebration of the opening of the heliport on the Mon at the foot of Wood Street. 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