Financial History Issue 124 (Winter 2018) | Page 29

1,738.74 points; it had fallen 22.6% since the opening bell. That was twice as bad as the worst day of the fearsome 1929 crash, and the point loss was almost five times worse than Friday’s epic decline. In its speed and scale — an unprecedented 604 million shares had been traded, twice as many as on Friday — it was the most apoc- alyptic one-day crash the market had ever seen. Monday, October 19, 1987, would thereafter be known as Black Monday.  Diana B. Henriques is an award-winning financial journalist and the author of A First-Class Catastrophe: The Road to Black Monday, the Worst Day in Wall Street History; The Wizard of Lies: Bernie Madoff and the Death of Trust, a New York Times bestseller; and three other books on business history. As a staff writer for The New York Times from 1989 to 2012 and as a contributing writer since then, she has largely specialized in investigative reporting on white-collar crime, market regulation and corporate governance. This article was adapted from A First-Class Catastrophe: The Road to Black Monday, the Worst Day in Wall Street History, by Diana Henriques (Henry Holt and Co., 2017). Sources Author’s Interviews with William J. Brodsky, E. Gerald Corrigan, Richard Ketchum, Hayne Leland, Roland Machold, Leo Melamed, Amanda Binns Mellar, John O’Brien, Mark Rubinstein and David S. Ruder. Archives of The Chicago Tribune, The New York Times, The Wall Street Journal, the SEC Historical Society, the Chicago Mer- cantile Exchange and the New York Stock Exchange, as well as the private archives of Dr. David S. Ruder, Northwestern Univer- sity Law School. Henriques, Diana B. Fidelity’s World: The Secret Life and Public Power of the Mutual Fund Giant. New York: Scribner. 1995. Kyrillos, Barbara. “Leland O’Brien Rubinstein Associates Incorporated: Portfolio Insur- ance,” in Cases in Financial Engineering: Applied Studies of Financial Innovation, edited by Scott P. Mason, Robert C. Merton, ENCOURAGING COLLECTING SINCE 1978 No.105 - DECEMBER 2017 Advertising and corporate image building – page 24 Metz, Tim. Black Monday: The Catastrophe of October 19, 1987…and Beyond. New York: William Morrow and Company. 1988. Phelan, John J., Jr. “October 1987: A Retrospec- tive.” 2007. Used with permission from the SEC Historical Society. Presidential Task Force on Market Mecha- nisms. Report of the Presidential Task Force on Market Mechanism. Washington, DC: US Government Printing Office. January 1988. (More commonly known as the Brady Commission Report.) Staff of the Division of Market Regulation of the U.S. Securities and Exchange Commis- sion. The October 1987 Market Break. Wash- ington, DC: SEC. 1988. Tamarkin, Bob. The Merc: The Emergence of a Global Financial Powerhouse. New York: Harper Business. 1993. PUTTING FINANCIAL HISTORY IN YOUR HANDS The International Bond and Share Society has supported collectors of vintage bonds and shares from all countries since 1978. – page 16 Worldwide Auctions CARRERA MARBLE ➠ ➠ NY PRODUCE EXCHANGE ➠ THE WARNERS OF PHILADELPHIA – page 2 Melamed, Leo, with Tamarkin, Bob. Escape to the Futures. New York: John Wiley & Sons . 1996. For $32, €25 or £20 annually, receive : Revenues in the South Jerry Rillahan’s scripophily Mackenzie, Donald. An Engine, Not a Camera: How Financial Models Shape Markets. Cam- bridge, MA: MIT Press. 2006. INTERNATIONAL BOND & SHARE SOCIETY THE JOURNAL OF THE INTERNATIONAL BOND & SHARE SOCIETY SCRIPOPHILY Andre F. Perold and Peter Tufano. Upper Saddle River, NJ: Prentice Hall. 1995. ◆ Three issues a year of our full color 32 page journal Scripophily with news, in-depth articles, auction reports and more ◆ Membership Directory listing dealers, auction houses and fellow collectors ◆ Members-only part of the Society website, scripophily.org ◆ Breakfast meetings at annual major collector events in New York City, Washington DC and Antwerp, Belgium For further information contact Hollender on Frauds West Africa – page 8 – page 12 Scripophily at the ANA Convention Presidential Stocks Max Hensley President US Chapter 116 Parklane Dr., San Antonio, TX 78212 USA Philip Atkinson Membership Secretary 167 Barnett Wood Lane, Ashtead, Surrey, KT21 2LP, UK [email protected] [email protected] Or visit our website - www.scripophily.org www.MoAF.org  |  Winter 2018  |  FINANCIAL HISTORY  27