BLACK THURSDAY: At the opening bell the New York Stock Exchange loses 11% of its value.  Richard Whitney, Jr., Vice President of the NYSE, using money advanced by a consortium of Wall Street banks, purchases 25,000 shares of United States Steel, at an overvalued price of 205 Dollars per share.  Later, Whitney purchases other “blue chip” (growing faster than the overall economy) stocks, all in an effort to halt the slide.  By the end of trading the Dow Jones Industrial Average nearly recovers, closing down only 6.38 points.

       [added 7/1/2022]