Williams, Marshall H.:

$200 · Offered by William Reese Company · No longer available

INVESTMENT TRUSTS IN AMERICA. An uncommon study of investment trusts, written near the height of the financial boom of the 1920s encouraging investment in a financial instrument that would ultimately help trigger the Great Crash of 1929. It was the first book on investment trusts published in the United States to provide a full treatment of the subject for broad popular consumption. Williams' book was advertised as providing "information on one of the latest and most active developments in American finance," and was intended as a general guide to small, middle class investors as to the history of the investment trust, how they are constructed and managed as well as the benefits to the investor.Investment trusts were financial instruments developed in Great Britain in the 1880s that eventually became popular in the United States in the late 1920s, especially with small investors looking to break into the booming stock market, and were similar to modern mutual funds in that the trusts were also created by purchasing stocks using pooled money from many small investors. There was no federal regulation of investment trusts, and market fluctuations in the stocks of one trust greatly affected all the other trusts that had invested in it. When the stock market crashed in October 1929, all the intertwined trusts collapsed.Marshall H. Williams was a Yale graduate (class of 1916), and the New Haven branch manager for Richardson, Hill and Co., a well-established and respected Boston inve

Found via Rare Books Intel, a search across rare-book dealers, auction houses and marketplaces worldwide.