Chronicle TIMELINE
A chronological, causal record of the resistance, major political crises, and contemporary truth.
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1929.03
·Verified
·Importance IV
·Sources 2
·United States
On March 25, 1929, after the Federal Reserve warned of excessive speculation, the stock market suffered a small crash, with call loan rates rising as high as 20%; the next day, after the National City Bank announced an injection of funds to support the market, they fell back.
1929.03
·Verified
·Importance IV
·Sources 2
·United States
In March 1929, after a warning from the Federal Reserve, the stock market suffered a mini-crash; Charles Mitchell, president of National City Bank (the predecessor of Citibank), announced $25 million in credit to prop up the market, and the call loan rate fell from 20% back to 8%.