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Lot # 1711: Original Photo of New York's Financial District, 2 AM After The Great Crash of Tuesday, October 29, 1929

Starting Bid: $200.00

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Displayed is a strikingly beautiful, and yet hauntingly eerie, mounted photo of New York City's Financial District at 2 a.m. after the great stock market crash of Oct. 29, 1929. What makes the photo so fascinating is that at 2 a.m., at a time when most of the buildings in the Financial District would usually only have a few lights on, the buildings' lights are blazing, indicating that financial workers are still working in the middle of the night during a financial panic. The Roaring Twenties was a period of lavish spending and economic excess in the United States. Credit was easy to obtain and stock market prices kept rising. In the fall of 1929, small investors could easily borrow from stockbrokers up to two-thirds of the price of stock shares. Thus, easily available buying of stocks on margin kept fueling a seemingly ever-expanding economy. Oct. 29, 1929, was a day known as Black Tuesday, in which stock prices on the New York Stock Exchange declined by 11.73%, following a decline of 12.82% the day before. The Roaring Twenties were over, and the Great Depression was about to begin. Photographer Gene Cuche's name and copyright symbol are in the lower right corner of the approx. 9.7x13.3" image. The photo is mounted on a display board, with some of the display board visible along the edges, as seen from the front. Typed on a 0.8x2.4" sticker, with some small stains, attached to the lower left is, "New York's Financial District, 2 a.m., after the Great Crash of Tuesday, October 29, 1929." There is some chipping on the sides. The offering comes with a Western Union telegram, dated August 22, 1929, from a "Churchman" to another party discussing a possible stock buy of Goldman Sachs, when the market was still going strong. This telegram fell off the back of the display, and the telegram shows darkening and significant paper loss, and is in very rough condition. The offered photo has a great impact, and it is a unique way to tell the story of the Great Crash, not in a thousand words, but in one, powerful picture.

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