Breakthroughs and everyday innovations from the year.
HEADLINES ON August 2, 1932
Full News Archive
- Headline: Helen Carlisle's Upcoming Wedding Announcement. Impact: Helen's marriage sparked a literary revolution, leading to an entire genre of romantic novels where the male lead is always a brooding editor. Who knew love could be so profitable?. Fact: Fun fact: James M. Reid's editing skills were so good, they could turn a grocery list into a best-seller!.
- Headline: Westchester Tax Exemptions Revealed. Impact: The tax exemptions led to an underground movement of property owners who secretly wished they could pay taxes just for the thrill of it. This would later inspire generations of tax evaders.. Fact: Did you know? The value of unlevied property was worth more than some small countries. Take that, GDP!.
- Headline: Ramona Grattan Wins Free-For-All Race. Impact: Ramona's victory ignited numerous horse racing betting syndicates, leading to a future where even your grandma could name a racehorse and put money on it. Thanks, Ramona!. Fact: Fun fact: Horse racing is the only sport where the participants are often more famous than the winners. Just ask the horses!.
- Headline: Security Buyers to Pay Shipping Expense; Exchange Forbids Brokers to Absorb Cost. Impact: This decision led to a never-ending cycle of buyers grumbling about unexpected charges, paving the way for the 'customer is always right' mantra. Thanks, stock exchange!. Fact: You know what they say: 'If you can't absorb the cost, just pass it on to your customers!' Such a heartwarming business model..
- Headline: $90,000,000 AID GIVEN UTILITIES BY BANKS; Accommodations Are Extended to Companies for Meeting Maturities Due. INSULL CONCERNS INCLUDED Action Is Viewed as Evidence of Confidence of Financiers in Public Service Structure. AID OF $90,000 GIVEN TO UTILITIES. Impact: The $90 million aid led to a chain reaction, causing banks to believe they were financial wizards. Unfortunately, they would later find out magic doesn't pay bills.. Fact: Did you know? Insull's concerns became a cautionary tale for future financial institutions. Spoiler alert: it didn't end well!.
- Headline: MRS. CROMWELL'S ESTATE.; Appraisal Puts Fortune Left by Wife of Lawyer at $1,478,746.. Impact: Mrs. Cromwell's estate appraisal kicked off a trend of wealthy widows leaving behind mysterious fortunes, inspiring countless novels and daytime soap operas. Who needs reality TV?. Fact: Fun fact: $1.4 million in 1920s money would buy you a mansion and a fleet of vintage cars. Now, it barely gets you a studio apartment!.
- Headline: I.C.C. APPROVES LOAN TO GREAT WESTERN; Authorizes $1,289,210 From the Finance Corporation to Meet Maturing Obligations. $2,000,000 WAS APPLIED FOR But Rail Credit Corporation Is Held Ready to Provide $710,880 Balance. BANK FUNDS UNAVAILABLE Uvalde & Northern, Serving Garner's Home Town, Requests Advance of $50,000. I.C.C. APPROVES LOAN TO GREAT WESTERN. Impact: The I.C.C. approving loans was the beginning of the 'let's keep the railroads alive' movement, which would eventually lead to the invention of the train whistleβbecause who doesn't love a good honk?. Fact: Did you know? The Great Western's financial woes were like a soap opera with more twists than a roller coaster. And just as thrilling!.
- Headline: iMISSA.W.FRISSELL ! ENGAGED TO MARRY; Her Betrothal to Francis M. Bacon 3d Announced by Her. Father, Dr. L. F. Frissell, SISTER OF LATE EXPLORER Her Fiance, a Graduate of Oxford, Is a Member of the New York Stock Exchange.. Impact: iMISSA.W.FRISSELL's engagement caused a spike in self-help books about dating Oxford graduates. Spoiler: they're mostly boring but have great vocabulary.. Fact: Fun fact: If you think the engagement announcement is wild, wait until you see the wedding guest list. Spoiler alert: it's probably going to be fancy!.
- Headline: Nicaragua Puts Curb on Export Of Gold by Actors and Artists. Impact: Nicaragua's gold export restrictions led to a new wave of artistic expression, where actors and artists began creating masterpieces about their inability to financially support themselves. Art imitating life, indeed!. Fact: Did you know? The real reason behind the curb was to prevent artists from turning their gold into ridiculous jewelry. Apparently, too much bling distracts from the art!.
Wall Street Time Machine
CVX
Chevron
Chevron - If you invested $1,000 in 1932, it would be worth $474,914 today (474.9x return)
GE
General Electric
General Electric - If you invested $1,000 in 1932, it would be worth $487,500 today (487.5x return)