Hirschi Law Group PLLC

October 29 - November 4

This Week in History
Black Tuesday

OCTOBER 29, 1929 - Stock prices at the New York Stock Exchange tumbled as the United States experienced the most devastating market crash in history. The decade leading up to the crash was a time of wealth and excess across the country and stock market values had reached an artificial and unsustainable level. The entire month of October saw declining stock values, but the dramatic drop on October 29th earned that day the designation of "Black Tuesday" and triggered the Great Depression.

Rumble in the Jungle

OCTOBER 30, 1974 - Muhammad Ali knocked out George Foreman in the eighth round of a fight held in the African nation of Zaire and regained his title of World Heavyweight Champion.  Always a controversial figure, Ali was stripped of his heavyweight title in 1967 after he refused to be drafted into the United States military. Foreman, who had won the gold medal in the 1968 Olympics, had quickly risen in the ranks of professional boxing and laid claim to the world champion title after beating Joe Frazier in two rounds. The fight, nicknamed "The Rumble in the Jungle," is considered to be one of the greatest fights in boxing history. Ali was able to prevail over the younger and stronger Foreman by executing a rope-a-dope strategy to wear down the powerful hitter.

Spruce Goose Takes Flight

NOVEMBER 2, 1947 - Howard Hughes piloted his "Spruce Goose," the largest aircraft ever built, on its first and only flight. Officially named the Hughes H-4 Hercules, the aircraft was built almSpruce Gooseost entirely of laminated birch, not spruce as the nickname suggests. Development of the transport plane began in 1942 when the U.S. War Department was searching for a new way to move troops and equipment safely over the Atlantic Ocean, which was swarming with German U-boats.  Due to war-time restrictions on aluminum, the aircraft had to be constructed out of wood. Production delays related to materials restrictions as well as Hughes' eccentricity resulted in the aircraft not being completed until well after the war had ended. The aircraft is now on display at The Evergreen Aviation & Space Museum in McMinnville, Oregon.

Ka-Ching

NOVEMBER 4, 1880 - James Ritty received a patent for the first cash register. Ritty, who operated a saloon in Dayton, Ohio, had a problem with employees pocketing customer's money rather than depositing it. While on a steamboat ship in Europe he became fascinated with a device that counted the rotations of the ships propeller.  He wondered if he could create a similar device to track cash transactions. His first two prototypes were failures, but his third was a success and he began marketing the device as "Ritty's Incorruptible Cashier." The design was sold a few years later to National Cash Register Corporation.

Anyone who bought stocks in mid-1929 and held onto them saw most of his or her adult life pass by before getting back to even.
-- Richard M. Salsman
History Quiz

Hirschi Law Group

Muhammad Ali was boxing's undisputed World Champion from 1974-1978 when he lost the title to which boxer?

A. Ken Norton
B. Leon Spinks
C. George Foreman
D. Joe Frazier

Respond with the correct answer and be entered into a drawing for 2 AMC Theatres movie tickets.

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