September 24: ON THIS DAY IN HISTORY
ON THIS DAY IN 1929, the Brooklyn Daily Eagle reported, “Stocks were again uncertain today. Several waves of buying and selling swept over the market from time to time and lifted or depressed stocks over a two to five-point range. Most of the leading stocks, like U.S. Steel, American Can, Allied Chemical, and American Telephone and Telegraph, were up two to five points at noonday, but at the beginning of the last hour they had lost all the gains and many were at new low prices for the day. Motor stocks were under steady pressure from the start, and many of them hit new bottom prices for the year. Short covering lifted them slightly occasionally, but new selling again appeared. Utilities were strong in spots, with Columbia Gas, Consolidated Gas and Foreign Power among those to show gains of several points or more. Money was easy at 8 percent and in good supply at that figure and most of the day’s news was cheerful. Selling was attributed in part to investment trusts, the public and bearish professionals. Sentiment in speculative circles was rather mixed as a result of the unsatisfactory trend of prices lately.”
***
ON THIS DAY IN 1938, the Eagle reported, “DETROIT — Hungry Hank Greenberg breathed hot on Babe Ruth’s home run record today after having belted out four-masters No. 55 and 56 here yesterday off Earl Whitehill of the Indians. Hank stands three games up on the pace the Bambino set in 1927 when he blasted 60 homers. Detroit has nine games to play. Ruth hit No. 56 in the Yankees’ 148th game. Excluding a tie with St. Louis that will be replayed here next week, yesterday’s second game was Detroit’s 145th of the season.”