NEW YORK STOCK EXCHANGE
THE PRESIDENT. I have a question from the press as to conferences held with officials of the New York Stock Exchange. There have been discussions, as is reported, between myself and other officials of the administration with officials of the New York Stock Exchange on the question of bear raids. The stock exchange officials have, during the last 8 months, from time to time taken steps with some degree of success to restrain these raids. But during the latter part of January despite their efforts, there was a large increase in the short account, which unquestionably affected the price of securities and brought discouragement to the country as a whole. I and the other administration officials again expressed our views to the managers of the exchange that they should take adequate measures to protect investors from artificial depression of the price of securities for speculative profit. Individuals who use the facilities of the exchange for such purposes are not contributing to the recovery of the United States.
GEORGE WASHINGTON BICENTENNIAL
And I have a confidential document here, comprising a speech on the subject of George Washington, to be delivered next Monday, which you can have copies of.
NEW YORK STOCK EXCHANGE
Q. Mr. President, may we have that statement on the stock exchange for quotation ?
THE PRESIDENT. Yes.
Note: President Hoover's two hundred and thirty-fifth news conference was held in the White House at 4 p.m. on Friday, February 19, 1932.
On the same day, the White House issued a text of the President's statement on the New York Stock Exchange (see Item 55).
Herbert Hoover, The President's News Conference Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/208293
Filed Under
Categories
Location
