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Crowd outside London Stock Exchange after fall of the Hatry Group, 1929
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Crowd outside London Stock Exchange after fall of the Hatry Group, 1929
Crowd outside London Stock Exchange after fall of the Hatry Group, 1929. On 20 September 1929 trading in shares in British financier Clarence Charles Hatrys (1888-1965) company, the Hatry group, was suspended by the London Stock Exchange. The company had massive liabilities and Hatry was charged with forgery and fraud, for which he served nine years in prison. The collapse of his business empire is widely credited as a contributing factor to the Wall Street Crash of 1929, which began nine days later
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Media ID 15139783
© Historica Graphica Collection / Heritage-Images
Bankrupt Bankruptcy Business Concern Crowds Economy Failed Failure Fear Feeling Stock Exchange Stock Market Wall Street Crash Warning Worry Economics Great Depression Historica Graphica Collection Recession
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EDITORS COMMENTS
This print captures the somber atmosphere outside the London Stock Exchange in 1929, following the fall of the Hatry Group. The crowd depicted here is a poignant representation of the fear, worry, and feeling of uncertainty that engulfed Britain during this tumultuous time. On September 20th, trading in shares of Clarence Charles Hatry's company was abruptly suspended by the London Stock Exchange due to its massive liabilities. It later emerged that Hatry had been involved in forgery and fraud, leading to his imprisonment for nine years. The collapse of his business empire proved to be a significant contributing factor to the infamous Wall Street Crash just nine days later. The image showcases men from all walks of life gathered together outside the stock exchange building. Their expressions reflect both concern for their own financial well-being as well as a collective awareness that something much larger than an individual company's failure was at stake. This historic photograph serves as a stark reminder of how economic failures can reverberate through society, causing widespread panic and triggering recessions or even depressions. It stands as a warning from history about the dangers inherent in unregulated markets and unchecked greed. Preserved within Heritage Images' Historica Graphica Collection, this powerful image offers us an opportunity to reflect on past financial crises while also reminding us of our responsibility to learn from them so we may strive towards creating more stable economies for future generations.
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