Business: Stockmarket & Sisto

All Monday, Wall Street was flooded with rumors that a house would fail. Tuesday morning stories of pending insolvencies were thicker, more persistent. At 1:30 President Richard Whitney mounted the rostrum of the Exchange. Trading was supplanted by a tense silence. Then an excited roar greeted the announcement that J. A. Sisto & Co. Inc. were unable to meet their engagements. Selling pressure increased. By the close of the market 34% of the common stocks listed were at least 20% below their old 1929 bottoms, while 59%...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!