Saturday, July 4, 2009

Wall Street Journal - July 4th, 1930

Here are two interesting July 4, 1930 Wall Street Journal headlines.

On competitive threats to Gillette:

WSJ - Gillette Safety Razor plunged to lowest level since 1925 on concerns of increasing competition, good report from competitor AutoStrop Safety Razor.

Procter and Gamble bought Gillette in 2005 for $ 57 billion so I guess those competitive threat concerns were a bit overblown.

Not sure what happened to AutoStrop.

The other headline that caught my attention was:

WSJ - Current depression doesn't appear that serious: number of shareholders of major corporations continues to grow; gasoline demand is up; Treasury is running a surplus; mass transit and auto traffic continues high; dividend and interest payments will not be far off record 1929 levels. Prevailing opinion is that “stocks cannot be forced much below current levels.”

The stock market had only fallen 30% at that point. It would go on to fall almost 90% peak to trough over the next two years.

Adam

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