Picture it.

On this day, March 8th 1938: At 10:05 a.m., only five minutes after the day's trading has begun, the

New York Stock Exchange closes trading. Astonished, hundreds of

brokers fall into a hush as Exchange president Charles Gay mounts

the rostrum. Gay announces that the firm run by his predecessor as

NYSE president, Richard Whitney, has been suspended for insolvency.

Then it's separately revealed that Whitney has committed "conduct

apparently contrary to just and equitable principles of trade." Reports

an eyewitness: "There was a dead silence, then a wild babble of

voices." Stocks drop 2% almost instantly, but then trading virtually

dries up as Wall Street realizes the Exchange has become a national

disgrace.

The silver lining: As shocked brokers seek to calm their nerves, the

bartender at the NYSE estimates that his volume increases 275%.

Celebrating 9 years of

Knowledge. Action. Confidence.

On this day, 66 years later: Michael Gaucher joins investment management firm,

T. Rowe Price.

And.

Businessman, Al Thompson, who called federal

income tax a hoax is convicted of thirteen charges of

tax evasion.

The events are not believed to be related.

A BrockelCard