Chronology After an amazing array of five years duration in which the Dow Jones Industrial Average (DJIA) increased its value five times greater than in previous years, prices peaked at 381.17 on September 3 1929. Thereafter, the market fell sharply for a month, losing 17 of its value in the initial fall. Then during the following week, prices rebounded more than half of the losses, only to fall again soon after. Then the decline accelerated in what was called “Black Thursday”, 24 October 1929. That day were traded a record number of 12.9 million shares. From October 25 the accumulation of selling orders had driven down values, but on October 24 called Black Thursday, 13 million shares are offered for sale cheaply and not find a buyer, triggering the collapse of the bag . At 1 pmFriday 25 October, several major Wall Street bankers met to find a solution to the panic and chaos in the stock market negotiations. The meeting included Thomas W. Lamont, acting on behalf of JPMorgan Chase, Albert Wiggin of Chase National Bank representative, and Charles E. Mitchell, president of National City Bank. They chose Richard Whitney, vice president of the New York Stock Exchange, to act on their behalf. With the financial resources in support of bankers, Whitney placed a bid to buy a large block of shares in U.S. Steel at a price well above market. Then, before the astonished eyes of the negotiators, Whitnet bought a similar number of shares in another Blue chip. This tactic was similar to a tactic that ended the Panic of 1907 and succeeded in halting the slide that day. In this case, however, the respite was only temporary.During the weekend, the events were covered by newspapers across the U.S. (See the section AMERICA LaVanguardia published on 31/10/1929 – Heroteca of LaVanguardia). On Monday 28 October, more investors decided to exit the market and the slide continued with a record loss of 13 in the Dow that day. The next day, “Black Tuesday, 29 October 1929, were traded 16.4 million shares, a number that broke the record set seven days before and it would not be exceeded until 1969. Richard M. Salsman wrote that on October 29, amid rumors that U.S. President Herbert Hoover would not veto the Tariff Act Smoot-Hawley was pending, the stock prices collapsed further. William C. Durant joined with members of the Rockefeller family and other financial giants to buy large quantities of shares in order to show the public their confidence in the market, but their efforts failed in the attempt to arrest the fall.The Dow lost another 12 that day. The stock lost 14 billion in value that day, totaling 30 billion loss for the week, ten times the federal government’s annual budget and more than the U.S. spent in the First World War. 7 Another crash occurred on November 13 when the Dow closed at 198.6, although the market recovered in the months that point, reaching a peak of 294.0 in April 1930. In the spring of 1930 the Morgan Bank decides to sell the shares he has accumulated and there was another stock market crash. Contributions continue to decline. The stock market embarked on a steady slide in April 1931 that did not end until 1932 when the Dow closed at 41.22 on July 8, concluding in a deterioration of 89 decline from the peak. This was the lowest point at which he was the stock market since the nineteenth century.