Cơ cấu không chính thức của công ty đã ám ảnh khi nhiều đối tác cao cấp của nó quyết định nghỉ hưu, vốn của mình với họ như họ đã làm. Các đối tác mới, những người đã được thừa nhận trong những năm qua là không bao giờ cần thiết để mang lại tiền mới với họ, vì vậy các công ty bị rút vốn tại thời điểm tương tự như Crash. Trong giới tài chính, tình hình trở nên nổi tiếng và người gửi tiền bắt đầu. | Corner of Broad and Wall J. P. Morgan and Morgan Stanley finally arrived the market was already down almost 7 percent from the previous day. By noon of that day bankers met in New York to see what could be done to stop the market slide. The group included Thomas Lamont of Morgan Albert Wiggin of Chase Charles Mitchell of National City and George F. Baker Jr. of First National. Their response was traditional they committed 130 million to stabilize the market. They would buy certain stocks to prevent them from dropping further and that would stop the overall market from sliding. But they misinterpreted the extent of the market rout. It was proving to be a crash rather than just another market downturn. Symbolically the first order intended to stabilize the market was a buy order for . Steel. The order was placed on the floor of the NYSE by its president Richard Whitney brother of Morgan partner J. P. Morgan s decision to commit funds to help prop up the stock market in October 1929 was greeted with enthusiasm on the floor of the NYSE. It had become a tried-and-true method of attempting to calm the market after a disastrous drop. Vaudeville comedian Eddie Cantor probably best known for his song Making Whoopee lost heavily in the market crash but was still able to take a light view of the whole affair. In a little book titled Caught Short A Saga of Wailing Wall Street published in 1929 immediately after the Crash he recalled a conversation held with a friend as the market became unraveled When I heard the news of the first rally I said to a famous songwriter Well Jack we re all right now. Things are going to go up. The Rockefellers are buying and the bankers are backing up the market. Good Lord he moaned. Yesterday I died and today they are giving me oxygen. The songwriter he was referring to was Irving Berlin one of the first investors to trade stocks from a floating brokerage installed on a Cunard Line ship on the transatlantic route. Like many other celebrities .
