The New York Stock Exchange in the Crisis of 1914

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It must be regretfully recorded, however, that the petty jealousy and distrust which had appeared in connection with this episode continued to show themselves in a desultory way until the end. A few individuals threw what im- pediments they could in the path of this Committee, and thereby furnished the only exception to the wonderful [55] THE NEW YORK STOCK EXCHANGE exhibition of loyalty and self eff acement that manifested itself in every other department.
When the Exchange suddenly closed its
... doors, an immense number of people, consisting of employees of the Exchange itself and the clerical forces of all the many brokerage houses, were rendered idle. As soon as it became evident that the suspension of business was going to be indefinitely prolonged, the grave ques- tion arose as to the extent to which these people would be thrown out of employment. The Stock Exchange at once set the generous example of deciding to retain its entire force without reduction of wages, and this decision was carried through for the entire four and one half months of suspension.

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