Wall Street Crash of 1929 one aspect of the crash: It wiped out billions of dollars of wealth in one day, and this immediately depressed consumer buying. The failure set off a worldwide run on US gold deposits (i.e. the dollar), and forced the Federal Reserve to raise interest rates into the slump. Some 4,000 banks and other lenders ultimately failed. Also, the uptick rule, which allowed short selling only when the last tick in a stock's price was positive, was implemented after the 1929 market crash to prevent short sellers from driving the price of a stock down in a bear raid. The stock
William Street retaining wall replaced by a porphyry and sandstone wall with an elaborate cast iron railing and a small pissoir built into the wall at the Elizabeth Street end. In November 1888 the contract was awarded to EJ O'Connor, who in the previous year had stabilised the large porphyry retaining wall at Queen Street, Petrie Bight (the Petrie Bight Retaining Wall). Within five months O'Connor was contracted to excavate and reform William Street and build the retaining wall for £1431. By the time Cabinet first met in the new Treasury Building in 1889, the wall, railing and gas lamp in William Street were