ebooks and download videos Search All  Title  Author 
Home / Nonfiction / History / United States / 20th Century

Steel's: A Forgotten Stock Market Scandal From the 1920s

| £20.79 | €23.38 | Ca$33.73 | Au$33.28
by Dave Dyer
What is this?DRM-PDF | by download   add to wish list
Steel's: A Forgotten Stock Market Scandal From the 1920s by Dave Dyer

In a casual quest to find his long-lost great uncle Clayton Pickard, Dyer stumbled upon a little-known story of unbounded success and devastating failure in the history of Steel's Stores. In 1919 L.R. Steel founded a five-and-dime store in Buffalo which would eventually grow to a chain of 225 stores across America and Canada (including one in Syracuse), with nearly 5,000 employees and 40,000 investors. The stores provided jobs for men returning to the workforce after World War I, employed women, the elderly and the disabled, and incorporated many of the business tactics that current corporations employ (vertical investment, P.R., even infomercials). Steel bought sugar factories and coal fields to produce for the stores, he sold millions of dollars' worth of stocks in the company, and provided easy credit for both employees and customers. But by 1923, Steel was bankrupt and the company was struggling to satisfy outraged investors and federal investigators. Within a year, Steel would die of a stroke and his wife would move from the expansive estate named in her honor to a boarding house. Clayton Pickard, Dyer's ancestor, had a meteoric rise through the ranks as a "Steelite," but when he was implicated in the scandal he disappeared, leaving behind a wife and children. In the course of writing the book, Dyer discovered what happened to Clayton and what kind of life he led after Steel's. The text explains in an understandable way the financial decisions which led to the company's fall, and illustrates how this scandal relates to (and ultimately eclipses in scope) the original Ponzi scheme. The book has many photographs and clippings from "Steel Sparks," the company newsletter, which provide a fascinating glimpse of the corporate, as well as the social, world of 1920s America.

To view this DRM protected ebook on your desktop or laptop you will need to have Adobe Digital Editions installed. It is a free software. We also strongly recommend that you sign up for an AdobeID at the Adobe website. For more details please see FAQ 1&2. To view this ebook on an iPhone, iPad or Android mobile device you will need the Adobe Digital Editions app, or BlueFire Reader or Txtr app. These are free, too. For more details see this article.

SHARE  Share by Email  Share on Facebook  Share on Twitter  Share on Linked In  Share on Delicious
or call in the US toll free 1-888-866-9150 product ID: 856333

Ebook Details
Size: 7.5 MB
Publisher: Syracuse University Press
Date published:   2013
ISBN: 9780815652069 (DRM-PDF)

DRM Settings
Copying:not allowed
Printing:not allowed
Read Aloud:  not allowed

This product is listed in the following categories:

Nonfiction > True Crime
Nonfiction > History > United States > 20th Century

If you find anything wrong with this product listing, perhaps the description is wrong, the author is incorrect, or it is listed in the wrong category, then please contact us. We will promptly address your feedback.

Submit 5 page SummaryWhat is this?

© 2016