Raynor HCA 2013-07
This lot is closed for bidding. Bidding ended on 7/18/2013
A complete issue of Frank Leslie’s Illustrated,, October 4, 1873, 20pp., disbound, VG. From an interior page, the newspaper presents a 1/2 page illustration “The Mormon Baptismal Services at Council Bluffs, Iowa.” Then, below are eight profile engravings of the Mormon leaders including Joseph Smith’s son. The accompanying report defines these Mormons as those who did not follow Brigham Young. Then, a four-page supplement completely devoted to the “Great Financial Panic” with eight illustrations. The New York Stock Exchange closed for ten days starting 20 September. By November 1873 some 55 of the nation's railroads had failed, with another 60 going bankrupt by the first anniversary of the crisis. Construction of new rail lines, formerly one of the backbones of the economy, plummeted from 7500 miles of track in 1872 to just 1600 miles in 1875. A total of 18,000 businesses failed between 1873 and 1875, with unemployment topping 14% by the end of the period. Building construction was halted, wages were cut, real estate values fell and corporate profits vanished.
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