1929 News, Events, Tech and Popular Culture
Major News Stories include The Wall Street Crash on 29th October beginning of the Great Depression, First Academy Awards / Oscars, St. Valentine's Day Massacre, Influenza Epidemic, First car radio is made by Motorola, Vatican City gains independence,
Jump To St. Valentine's Day Massacre
-- Vatican Independent
-- 1929 Fashion
-- World Leaders
-- 1929 Calendar
-- 1929 Technology
United States -- Wall Street Crash
The Wall Street Crash
of 1929, is the stock-market crash that occurred starts on October 28th
and started the period of The Great Depression in the United States, starting a world-wide economic crisis and lasting till the mid 1930's
1. Leading up to the crash the United States experiences an economic boom during the 1920s. Many investors are speculators and the stock market keeps growing starting around 1923
2. The stock market experiences a mini-crash on March 25th, 1929 as investors start to sell their stocks. This crash reveals a shaky foundation in the market. Borrowing and credit is effected as interest rates climb to twenty percent.
3. Banker Charles E. Mitchell pledges $25 million in credit to stop the stock market slide a few days after the mini-crash. He is called upon to leave his post on the Federal Reserve Board for his interference with the market.
4. The economy shows signs of slowing as steel production, construction and car sales all experience decline during the spring. However, the stock market keeps climbing breaking records month after month, despite the signs of strain.
5. The Stock Market reaches its peak on September 3rd
, 1929 and the Dow Jones Industrial Average is at 381.17.
6. The market starts to fluctuate up and down, erratically during the month of September as speculators fear a crash.
7. The bubble bursts on October 24th, 1929, known as Black Thursday, when stock prices fall sharply with a reported loss of $5 billion on that day. Investors are assured that nothing is wrong and it will stabilize.
8. Black Monday happens on October 28th, 1929, when the U.S. stock market experiences its biggest drop in history, 22.6% in one day. This crash begins to influence other markets around the world.
9. Black Tuesday happens on October 29th, 1929 as panicked investors begin to sell all their stocks. The stock market drops another 12.8% by the end of the day.
10. The stock market hits bottom on November 23rd
, 1929 and starts to stabilize after weeks of continuously falling.
11. The U.S. joins the rest of the world in the Great Depression as massive amounts of people become unemployed and the economy loses incomprehensible amounts of money due to the stock market crash. The Great Depression lasts until World War II begins.
12. In 1932
, the U.S. stock market reaches its lowest point when it closes 89 percent down from its highest point in 1929.
United States -- St. Valentine's Day Massacre
The St. Valentine's Day Massacre
on February 14th
. Seven gangsters rivaling Al Capone are murdered in Chicago, Illinois.
The St. Valentine's Day Massacre took place on February 14th, 1929 in Chicago, Illinois. The massacre is likely related to criminal gang rivalry between Al Capone's gang and Bugs Moran's gang. Seven men associated with Bugs Moran's crime gang are murdered in the middle of the day by unknown gunmen.
Witnesses state they saw four men enter a garage on the North Side of the city, two of them dressed as police officers during the day. There was gun fire heard and then the four men exited, the two dressed as police escorting the other two at gunpoint. Police later discovered the bodies of the seven men who had been lined up against the wall and shot them with Tommy guns and other weapons.
It is likely that Al Capone was responsible for the brutal attack, however he was never held accountable for it nor did he ever admit to any involvement as he was in Florida at the time of the massacre.
United States -- Museum of Modern Art Opens
1. The Museum of Modern Art (MoMA) is created in New York City in November of 1929.
2. It was originally located in the Heckscher Building on Fifth Avenue and only had six rooms.
3. In 1932, the Museum is moved to a townhouse on 53rd Street.
4. A new building was created for MoMA and it opened in May of 1939.
5. The new building was in the "International Style" of architecture which features rectangular lines, very little decoration, glass and steel, and open interiors.
6. The location was closed in 2002 as remodeling and additions were being created for the building.
7. The new and renovated Museum of Modern Art reopened in November of 2004 where it now has six floors of different galleries.
Vatican -- gains independence from Italy
gains independence from Italy on June 7th
and is created as its own State.
More Information and Timeline for Vatican City Founding
The Holy See and Italy sign the Lateran Pacts on February 11th, 1929. This created the Vatican City State. The Pacts were ratified on June 7th, 1929, officially making Vatican City a sovereign state under international law.
The entire area of Vatican City lies within the city of Rome and it measures about 110 acres. The city holds many Catholic cultural sites and is ruled by the Pope and high-ranking Catholic clergy.
In the late 1800's
the King of Italy's attempts to unify the country left much question over the role of the Pope and many papal properties were seized by the King. Up until 1929, when the dispute was resolved, the various Popes did not leave the Vatican compound and did not recognize the Italian royalty's right to rule in Rome.
World -- Influenza Epidemic
Total of over 200,000 die from Influenza Epidemic
United States -- Dow Reaches Peak of 381.17
Dow Reaches Peak of 381.17 on September 3rd
prior to the slide and eventual wall street crash in October.
Canada -- Niagara Falls
The United States and Canada sign an agreement to protect Niagara Falls.
United States -- Population 1929
reaches 120 Million.
United States -- Mexican Rebel General
US Captures Mexican General J. Gonzalo Rebels
U.S.A. -- Charles Lindberg
Colonial Charles Lindberg
leaves on a 3,500-mile flight from Detroit to Cape Horn.
Germany -- Graf Zeppelin
The German airship Graf Zeppelin
completes a round-the-world flight.
United States -- First Car Radio
The first car radio
is made by Motorola.
UK -- Phone Booth
The First Public phone booths
appear in London.
U.S. -- Academy Awards
, popularly known as the Oscars, are started.
U.S. -- Museum Of Modern Art
Museum Of Modern Art opens in New York.
U.S. -- Rockefeller Center
A start is made on the Rockefeller Center
in New York.
U.S. -- Broadway Melody
The Broadway Melody
becomes the first major musical film of the sound era.
U.S. -- 7-up
The soft Drink 7-up
is invented by Charles Leiper Grigg.
Calendar For The Year 1929
Born This Year
Grace Kelly -- November 12th
Anne Frank -- July 12th
Jacqueline Kennedy Onassis -- July 28th
Roger Bannister --March 23rd
Audrey Hepburn --May 4th
- The German airship Graf Zeppelin completes a round-the-world flight.
- The first car radio is made by Motorola.
- The First Public phone booths appear in London.
- The growth of Airplane travel continues with flights to destinations further and further apart including India, Australia, Europe, North and South America and Asia.
- Edwin Hubble continued to publish much of the foundations for understanding our galaxies and much of the theory that modern astronomy is based on (Possibly why the Hubble Space Telescope was named after him).
- First Chain Saw Andreas Stihl a Swiss engineer begins manufacturing the first gasoline powered chain saw, which he soon begins exporting around the world.
- Sunglasses Sam Foster begins selling sunglasses from his counter in Woolworths on the boardwalk in Atlanta which are great hit with the sunbathing public.
Major World Political Leaders / Elections
Australia - - Prime Minister - - Stanley Bruce - - Until 22 October
Australia - - Prime Minister - - James Scullin - - From 22 October
Brazil - - President - - Washington Luís
Canada - - Prime Minister - - William Lyon Mackenzie King
Italy - - Prime Minister - - Benito Mussolini
Japan - - Prime Minister - - Giichi Tanaka - - Until 2 July
Japan - - Prime Minister - - Osachi Hamaguchi - - From 2 July
Mexico - - President - - Emilio Portes Gil
Russia / Soviet Union - - General Secretary of the Central Committee - - Joseph Stalin
South Africa - - Prime Minister - - James Barry Munnik Hertzog
United States - - President - - Calvin Coolidge - - Until 4 March
United States - - President - - Herbert Hoover - - From 4 March
United Kingdom - - Prime Minister - - Stanley Baldwin - - Until 5 June
United Kingdom - - Prime Minister - - Ramsay MacDonald - - From 5 June
- British General Election - - 1929 - - Ramsay MacDonald (Labor) defeats Stanley Baldwin (Conservative) and David Lloyd George (Liberal).