The Railroads and the Depression

Archive Report

Railroad stocks and bonds were frequent leaders in the rapid market advances which occurred during August, 1932. Both railroad and industrial stocks touched their low point for the year to date on July 8. The New York Times average of 25 representative railroad stocks stood at $10.34 on that day, and the average price of 25 representative industrial stocks at $57.62. By August 25, the railroad average had risen to $29.59, a gain of 186.17 per cent from the low point. On the same day the industrial average was $102.61, representing a gain of 78.08 per cent from the year's low. Increases in domestic railroad bond averages were similarly greater than increases in industrial and utility bond averages. The rail bond average, which touched ...

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