79-421: The Naples Daily News is the main daily newspaper of Naples , Florida, and Collier County . It is owned by Gannett . It was previously owned by Milwaukee -based Journal Media Group , which was formed by a newspaper-only spin-off of E.W. Scripps Company 's media operations in 2015. Scripps had bought it from the founding Collier family in 1986. At that time, Scripps paid the highest multiple of earnings for
158-842: A 2014 data). 2005 Hurricane Wilma (Category 5) – Wilma reached maximum wind strength of 185 miles per hour (298 km/h), but its winds were 125 miles per hour (201 km/h) when it made landfall near Cape Romano (below Naples, just beyond the southwestern tip of Marco Island and northwest of the Ten Thousand Islands in Collier County). Wilma caused 87 deaths and $ 22.4 billion in damage. 2017 Hurricane Irma (Category 5) – Irma had maximum wind strength of 180 miles per hour (290 km/h), but when it made landfall near Marco Island, its winds were 115 miles per hour (185 km/h). As Irma hit Florida, tropical-storm-force winds extended out to 400 miles (640 km) from
237-575: A Category 4 hurricane with sustained winds of 150 miles per hour (240 km/h). Power was lost to much of the Naples area including Pelican Bay and Bay Colony for several days, but repairs allowed power to be turned back on, beginning on October 1, 2022. Ian caused 149 deaths in the state of Florida and an estimated $ 989 million in damages to the city of Naples and approximately $ 2.2 billion in damages to buildings in Collier County. According to
316-555: A concentration among the numerous art galleries spread throughout the downtown area. Near downtown Naples Bay and the Gordon River is the shopping district of Tin City. This open-air shopping center specializes in antiques and handmade local novelties, as well as several seafood restaurants. The Naples Half Marathon is a half marathon held every year in Naples since 1989, with record participation in 2013 of 2,038 runners. Naples
395-514: A daily rate of 133 in 1931). The 1929 crash brought the Roaring Twenties to a halt. As tentatively expressed by economic historian Charles P. Kindleberger , in 1929, there was no lender of last resort effectively present, which, if it had existed and been properly exercised, would have been key in shortening the business slowdown that normally follows financial crises. The crash instigated widespread and long-lasting consequences for
474-425: A household in the city is $ 65,641, and the median income for a family is $ 83,831. Males have a median income of $ 50,092 versus $ 30,948 for females. The per capita income for the city is $ 61,141. 5.9% of the population and 3.1% of families are below the poverty line . Out of the total population, 15.1% of those under the age of 18 and 3.3% of those 65 and older are living below the poverty line. The economy of Naples
553-692: A locally traveling exhibit. The last LPGA golf tournament played each year, the CME Group Tour Championship , has been held in Naples since 2012 . Since 2013 , it has been played at the Gold Course of the Tiburón Golf Club . It claims the largest purse and the largest winner's share of any women's golf tournament, presently at $ 5,000,000 and $ 1,500,000 respectively. The purse and winner's share increase in 2022 , to $ 7,000,000 and $ 2,000,000 respectively. Pickleball
632-634: A mass of 250 million bushels of wheat to be "carried over" when 1929 opened. By May there was also a winter wheat crop of 560 million bushels ready for harvest in the Mississippi Valley. The oversupply caused such a drop in wheat prices that the net incomes of farmers from wheat were threatened with extinction. Stock markets are always sensitive to the future state of commodity markets, and the slump in Wall Street that had been predicted for May by Sir George Paish arrived on time. In June 1929,
711-490: A practice of suspending trading when prices fell rapidly to limit panic selling . Scholars differ over crash's effect on the Great Depression, with some claiming that the price fluctuations were insufficient on their own to trigger a major collapse of the financial system, with others arguing that the crash, combined with the other economic problems in the U.S. at the end of the 1920s, should be jointly interpreted as
790-508: A serious setback to industry when industrial production is for the most part in a healthy and balanced condition?" They argued that there must be some setback, but there was not yet sufficient evidence to prove that it would be long or would necessarily produce a general industrial depression. However, The Economist also cautioned that some bank failures were also to be expected and some banks may not have had any reserves left for financing commercial and industrial enterprises. It concluded that
869-445: A stage in the business cycles which affect all capitalist economies. The " Roaring Twenties ", the decade following World War I that led to the crash, was a time of wealth and excess. Building on post-war optimism, rural Americans migrated to the cities in vast numbers throughout the decade with hopes of finding a more prosperous life in the ever-growing expansion of America's industrial sector. Scholars believe that declines in
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#1732787634495948-586: A state-mandated city master plan renamed the area the Aqualane Shores Neighborhood and extended its boundary west to the Gulf of Mexico, east to the Bay of Naples, and the area from 14th Avenue S all the way south to Jamaica Channel. The numerous canals and waterfront homes add a distinctive feature to the south portion of Naples and provide access to the Gulf of Mexico for many homeowners. Naples
1027-546: A strategy used during the Panic of 1907 . This encouraged a brief recovery before Black Tuesday. Further action failed to halt the fall, which continued until July 8, 1932; by then, the stock market had lost some 90% of its pre-crash value. The United States Congress responded to the events by passing the Banking Act of 1933 (Glass–Steagall Act), which separated commercial and investment banking . Stock exchanges introduced
1106-623: A young adult novel by Carl Hiaasen is set in Naples. Wall Street Crash of 1929 The Wall Street crash of 1929 , also known as the Great Crash or Crash of '29 , was a major stock market crash in the United States in late 1929, beginning in late October with a sharp decline in prices on the New York Stock Exchange (NYSE) and ending in mid-November. The crash, which began a rapid erosion of confidence in
1185-444: Is Anhinga Channel, then Bittern Channel is south of 15th Avenue S, Crane Channel is south of 16th Avenue S, Duck Channel is south of 17th Avenue S, and Egret Channel is north of 21st Avenue S. From the channels there are coves named Flamingo, Gull, Heron, and Ibis, as well as the original Aqua Cove. These initial channels, canals, and coves were dredged and bulldozed from the mangrove swamps. Where shallow rock precluded digging,
1264-665: Is Southwest Florida International Airport . The region is served by the NCH Healthcare System , which currently has 716 beds between two hospitals, and Physician's Regional Healthcare System, which has two hospitals that contain 201 beds and is owned by the Health Management Associates, headquartered in Pelican Bay . In addition to the two hospitals, the company operates six clinics in Naples. Healthcare Network of Southwest Florida (HCN)
1343-433: Is $ 141,245 As of the 2010 United States census , there were 19,537 people, 9,991 households, and 6,041 families residing in the city. In 2010, the largest self-identified ancestry and ethnic groups in Naples were German-American 20.0%, English-American 19.2%, Irish-American 17.8%, and Italian-American 9.2%. As of the census of 2000 , there are 20,981 people, 10,803 households, and 6,568 families residing in
1422-562: Is William R. Barker. Naples, Florida Naples is a city in Collier County, Florida , United States. As of the 2020 census , the population was 19,115, down from 19,539 at the 2010 census. Naples is a principal city of the Naples–Marco Island metropolitan area , which had a population of about 375,752 as of 2020. The city is known mostly for its high-priced homes, white-sand beaches, and numerous golf courses. Naples
1501-440: Is also home to major private employers such as Fortune 1000 company Health Management Associates and technology company NewsBank . In 2009, Naples was placed 10th in a report by U.S. News & World Report titled "10 Pricey Cities That Pay Off." The report ranked cities by its "amenity value", a measurement based on the amount of satisfaction an asset brings to its owner. In 2012, a report by Kiplinger ranked Naples with
1580-489: Is an increasingly popular sport in Naples. Because of this, many parks have added pickleball courts. Naples is home to the U.S. Open Pickleball Championships , which have been held annually since 2016. Naples has two semi-pro soccer teams, Naples United FC , which was founded in 2017 and competes in the National Premier Soccer League and Naples City FC, which was founded in 2020 and competes in
1659-537: Is based largely on tourism and was historically based on real estate development and agriculture. Due to its proximity to the Everglades and Ten Thousand Islands , Naples is also popular among ecotourists . Companies based in Naples include Beasley Broadcast Group and ASG Technologies in addition to numerous small businesses. Due to the wealth present in Collier County, Naples is also home to many small non-profit organizations. The surrounding Naples metro area
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#17327876344951738-648: Is home to The Naples Players , Naples Shakespeare Festival (and sister company Marco Island Shakespeare Festival), Opera Naples, the equity theatre company Theatre Zone , and Gulfshore Playhouse. The Naples Philharmonic and The Baker Museum are located at Artis—Naples, which also serves as the educational campus for the Naples Philharmonic Youth Orchestra, Youth Chorus, Youth Jazz Orchestra and Youth Symphony. The Holocaust Museum and Education Center of Southwest Florida educates about 155,000 students each year both in its facility and with
1817-608: Is located in southwest Florida on U.S. Highway 41 between Miami to the east and Fort Myers to the north. According to the United States Census Bureau , the city has a total area of 16.4 square miles (42.5 km ), of which 12.3 square miles (31.9 km ) is land and 4.1 square miles (10.7 km ), or 25.09%, is water. National Weather Service records that date back to 1851, indicate 74 tropical storms have passed within 85 nautical miles (157 km; 98 mi) of Naples, or once every 2.2 years (as of
1896-452: Is the dry season, when sunshine, dry weather, and milder temperatures with daily highs around 74 F. Naples is in USDA hardiness zone 10b. As of the 2020 United States census , there were 19,115 people, 10,453 households, and 6,193 families residing in the city. Median household income (in 2022 dollars), 2018-2022 $ 135,657. The Per capita income in past 12 months (in 2022 dollars), 2018-2022
1975-639: Is the self-titled "Golf Capital of the World", as it has the second most holes per capita out of all communities, and the most holes of any city in Florida. The city is also known for being appealing to retirees, who make up a large percentage of the population. Before the period of European colonization , the indigenous Calusa lived in Florida (including the region of present-day Naples) for thousands of years, from Charlotte Harbor to Cape Sable . In 1513, Spanish conquistador Juan Ponce de León explored
2054-611: The 1929 Stock market crash , the Great Depression , and World War II. During the war the U.S. Army Air Forces built a small airfield and used it for training purposes; it is now the Naples Municipal Airport . After a hurricane in 1945, a fill was required to repair the damage. A local dredging company, Wyatt Brothers, created a lake north of 16th Avenue S, between Gordon Drive and Gulf Shore Boulevard. In 1949, Reginald Wyatt II asked Mr. Rust to sell him
2133-641: The Collier Area Transit . The service runs seven days a week and end times depend on the route. Highways that pass through Naples are I-75 and US-41 . The city is served by the Naples Airport , and although it doesn't have any scheduled commercial service, it is one of the busiest municipal airports in the United States. The closest airport with regular-scheduled commercial service for both domestic and international destinations
2212-473: The Köppen climate classification , Naples has a tropical savanna climate or Aw . Naples is normally frost-free and the growing season is 365 days. Like much of central and south Florida there are two basic seasons in Naples; From May through October there is a hot and wet season in Naples, when hot temperatures (average high temperature is 92 F) and frequent thundershowers are common. From November through April,
2291-557: The National City Bank , would provide $ 25 million in credit to stop the market's slide. Mitchell's move brought a temporary halt to the financial crisis, and call money declined from 20 to 8 percent. However, the American economy showed ominous signs of trouble. Steel production declined, construction was sluggish, automobile sales went down, and consumers were building up large debts because of easy credit. Despite all
2370-484: The National City Bank of New York . They chose Richard Whitney , vice president of the Exchange, to act on their behalf. With the bankers' financial resources behind him, Whitney placed a bid to purchase 25,000 shares of U.S. Steel at $ 205 per share, a price well above the current market. As traders watched, Whitney then placed similar bids on other " blue chip " stocks. The tactic was similar to one that had ended
2449-505: The Panic of 1907 and succeeded in halting the slide. The Dow Jones Industrial Average recovered, closing down only 6.38 points (2.09%) for the day. On October 28, " Black Monday ", more investors facing margin calls decided to get out of the market, and the slide continued with a record loss in the Dow for the day of 38.33 points, or 12.82%. On October 29, 1929, " Black Tuesday " hit Wall Street as investors traded some 16 million shares on
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2528-528: The Pecora Commission was established by the U.S. Senate to study the causes of the crash. The following year, the U.S. Congress passed the Glass–Steagall Act mandating a separation between commercial banks , which take deposits and extend loans , and investment banks , which underwrite , issue, and distribute stocks , bonds , and other securities . Afterwards, stock markets around
2607-524: The U.S. banking system and marked the beginning of the worldwide Great Depression , which lasted until 1939, is considered the most devastating in the country's history. It is most associated with October 24, 1929, known as "Black Thursday", when about 12.9 million shares were traded on the NYSE in a single day (as compared to an average of 4 million), and October 29, 1929, "Black Tuesday", when some 16.4 million shares were traded. The " Roaring Twenties " of
2686-722: The United Premier Soccer League . Starting from the 2025 season, Naples will also have a professional club, FC Naples in the USL League One . Naples is also the home of swamp buggy races, held three times each year at the Florida Sports Park. The swamp buggy was invented in Naples. The beach on the coast of the Gulf of Mexico is more than 10 miles (16 km) long and is known for its cleanliness and pristine white sand. In 2005, Naples
2765-477: The ticker tape in brokerage offices around the nation was hours late, and so investors had no idea what most stocks were trading for. Several leading Wall Street bankers met to find a solution to the panic and chaos on the trading floor. The meeting included Thomas W. Lamont , acting head of Morgan Bank ; Albert Wiggin , head of the Chase National Bank ; and Charles E. Mitchell, president of
2844-490: 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 market crash of October 1929 led directly to the Great Depression in Europe. When stocks plummeted on the New York Stock Exchange , the world noticed immediately. Although financial leaders in
2923-511: The 296 acres (120 ha) from Jamaica Channel to today's 14th Avenue S. The Jamaica Channel was widened, one canal was dredged, and 14th Avenue S was created. That same year, Naples officially became a city. Today, the Wyatt family is credited with the construction of Naples' first beach. Additional channels were eventually added to the south of 14th Avenue S and are named alphabetically for local water birds. The first channel south of 14th Avenue S
3002-427: The Dow closing at 198.60. The market then recovered for several months, starting on November 14, with the Dow gaining 18.59 points to close at 217.28, and reaching a secondary closing peak ( bear market rally ) of 294.07 on April 17, 1930. The Dow then embarked on another, much longer, steady slide from April 1930 to July 8, 1932, when it closed at 41.22, its lowest level of the 20th century, concluding an 89.2% loss for
3081-516: The Great Depression. True or not, the consequences were dire for almost everybody. Most academic experts agree on 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,
3160-476: The London Stock Exchange. In the days leading up to the crash, the market was severely unstable. Periods of selling and high volumes were interspersed with brief periods of rising prices and recovery. Selling intensified in mid-October. On October 24, " Black Thursday ", the market lost 11% of its value at the opening bell on very heavy trading. The huge volume meant that the report of prices on
3239-619: The New York Stock Exchange in a single day. Around $ 14 billion of stock value was lost, wiping out thousands of investors. The panic selling reached its peak with some stocks having no buyers at any price. The Dow lost an additional 30.57 points, or 11.73%, for a total drop of 68.90 points, or 23.05% in two days. On October 29, William C. Durant joined with members of the Rockefeller family and other financial giants to buy large quantities of stocks to demonstrate to
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3318-523: The UK, protests often focused on the so-called means test , which the government had instituted in 1931 to limit the amount of unemployment payments made to individuals and families. For working people, the means test seemed an intrusive and insensitive way to deal with the chronic and relentless deprivation caused by the economic crisis. The strikes were met forcefully, with police breaking up protests, arresting demonstrators, and charging them with crimes related to
3397-659: The United Kingdom, as in the United States, vastly underestimated the extent of the crisis that ensued, it soon became clear that the world's economies were more interconnected than ever. The effects of the disruption to the global system of financing, trade, and production and the subsequent meltdown of the American economy were soon felt throughout Europe. In 1930 and 1931, in particular, unemployed workers went on strike, demonstrated in public, and otherwise took direct action to call public attention to their plight. Within
3476-427: The United States. Historians still debate whether the 1929 crash sparked the Great Depression or if it merely coincided with bursting a loose credit-inspired economic bubble. Only 16% of American households were invested in the stock market within the United States during the period leading up to this depression, suggesting that the crash carried somewhat less weight in causing it. However, the psychological effects of
3555-606: The bay as "surpassing the bay in Naples, Italy ". By the summer of 1888, Naples had a population of about 80 people, and the first hotel opened in 1889. Major development was anticipated after Collier County was established in 1923, the completion of the Seaboard Air Line Railroad extension in 1927, and the completion of the Tamiami Trail linking Naples to Miami in 1928, but did not begin until after
3634-417: The center and hurricane-force winds extended up to 80 miles (130 km). This storm left over 7.5 million homes (70% of the state) without electricity for days. Irma caused 134 deaths and $ 50 billion in damage. 2022 Hurricane Ian (Category 5) - Ian had a maximum wind strength of 160 miles per hour (260 km/h) while approaching Florida, and it made landfall at Cayo Costa slightly below peak strength as
3713-404: The city. The population density was 1,744.3 inhabitants per square mile (673.5/km ). There were 16,957 housing units at an average density of 1,410.0 units per square mile (544.4 units/km ). The racial makeup of the city is 92.50% White , 4.65% African American , 0.12% Native American , 0.33% Asian , 0.02% Pacific Islander , 0.30% from other races, and 2.07% from two or more races. 2.23% of
3792-543: The crash reverberated across the nation as businesses became aware of the difficulties in securing capital market investments for new projects and expansions. Business uncertainty naturally affects job security for employees, and as the American worker (the consumer) faced uncertainty with regard to income, naturally the propensity to consume declined. The decline in stock prices caused bankruptcies and severe macroeconomic difficulties, including contraction of credit, business closures, firing of workers, bank failures, decline of
3871-409: The crash, economist Irving Fisher famously proclaimed "Stock prices have reached what looks like a permanently high plateau". The optimism and the financial gains of the great bull market were shaken after a well-publicized September 8 prediction from financial expert Roger Babson that "a crash is coming, and it may be terrific". The initial September decline was thus called the "Babson Break" in
3950-657: The economic warning signs and the market breaks in March and May 1929, stocks resumed their advance in June, and the gains continued almost unabated until early September 1929 (the Dow Jones average gained more than 20% between June and September). The market had been on a nine-year run that saw the Dow Jones Industrial Average increase in value tenfold, peaking at 381.17 on September 3, 1929. Shortly before
4029-505: The economy where output was declining and unemployment was increasing, so the purchase price of stocks greatly exceeded their real value. By September 1929, more experienced shareholders realized that prices could not continue to rise and began to get rid of their holdings, which caused share values to stall and then fall, encouraging more to sell. As investors panicked, the selling became frenzied. After Black Thursday, leading bankers joined forces to purchase stock at prices above market value,
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#17327876344954108-516: The end of September, the market had dropped 10% from the peak (the "Babson Break"). Selling intensified in early and mid-October, with sharp down days punctuated by a few up days. Panic selling of massive proportion started the week of October 21 and intensified and culminated on October 24, October 28, and especially October 29 ("Black Tuesday"). The president of the Chase National Bank, Albert H. Wiggin , said at
4187-431: The face value of the stocks that they were buying. Over $ 8.5 billion was out on loan, more than the entire amount of currency circulating in the United States at the time. The rising share prices encouraged more people to invest on the hope that share prices would rise further. Speculation thus fueled further rises and created an economic bubble . Because of margin buying , investors stood to lose large sums of money if
4266-411: The first six months of 1929, of 36.6% over 1928, itself a record half-year. Iron and steel led the way with doubled gains. Such figures set up a crescendo of stock-exchange speculation that led hundreds of thousands of Americans to invest heavily in the stock market. Many people were borrowing money to buy more stocks. By August 1929, brokers were routinely lending small investors more than two-thirds of
4345-481: The index in less than three years. Beginning on March 15, 1933, and continuing through the rest of the 1930s, the Dow began to slowly regain the ground it had lost. The largest percentage increases of the Dow Jones occurred during the early and mid-1930s. In late 1937, there was a sharp dip in the stock market, but prices held well above the 1932 lows. The Dow Jones did not return to its peak close of September 3, 1929, for 25 years, until November 23, 1954. In 1932,
4424-414: The land was filled to create lots with navigable water. The Aqualane Shores Association was incorporated as a 'not for profit' corporation on February 3, 1966. It served lot owners in the area roughly bounded by the Bay of Naples to the east, Gordon Drive to the west, and the land between 14th Avenue and 21st Avenue S, as well as Marina Drive, Forrest Lane, and Southwinds Drive. Thirty years later, in 1996,
4503-496: The largest financial crisis of the 20th century. The panic of October 1929 has come to serve as a symbol of the economic contraction that gripped the world during the next decade. The falls in share prices on October 24 and 29, 1929 were practically instantaneous in all financial markets, except Japan. The Wall Street Crash had a major impact on the U.S. and world economy, and it has been the source of intense academic historical, economic, and political debate from its aftermath until
4582-651: The market turned down or even if it failed to advance quickly enough. The average price to earnings ratio of S&P Composite stocks was 32.6 in September 1929, clearly above historical norms. According to the economist John Kenneth Galbraith , the exuberance also resulted in a large number of people placing their savings and money in leverage investment products like Goldman Sachs 's "Blue Ridge trust" and "Shenandoah Trust", which crashed in 1929 as well, resulting in losses to banks of $ 475 billion in 2010 dollars ($ 663.68 billion in 2023). Good harvests had built up
4661-556: The money supply caused by Federal Reserve decisions had a severely contractionary effect on output. Despite the inherent risk of speculation , it was widely believed that the stock market would continue to rise forever. On March 25, 1929, after the Federal Reserve warned of excessive speculation, a small crash occurred as investors started to sell stocks at a rapid pace, exposing the market's shaky foundation. Two days later, banker Charles E. Mitchell announced that his company,
4740-406: The money supply, and other economically depressing events. The resultant rise of mass unemployment is seen as a result of the crash, although the crash is by no means the sole event that contributed to the depression. The Wall Street Crash is usually seen as having the greatest impact on the events that followed and therefore is widely regarded as signaling the downward economic slide that initiated
4819-706: The paper any American company had paid to date, in a deal said to be over $ 160 million. The Naples Daily News and The (Fort Myers, Florida) News-Press papers are both printed at Stuart. For many years, the Naples Daily News has targeted Collier County. However, its coverage has been expanded to Lee County and parts of Charlotte County . The paper publishes several editions of its "Local & State" section for communities including Bonita Springs , Cape Coral , East Naples , Fort Myers, Immokalee , Lehigh Acres , Marco Island , North Fort Myers , North Naples and South Fort Myers. The President and Publisher
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#17327876344954898-442: The population are Hispanic or Latino of any race. In 2000, there were 10,803 households, out of which 10.9% had children under the age of 18 living with them, 53.8% were married couples living together, 5.0% had a female householder with no husband present, and 39.2% were non-families. 34.0% of all households were made up of individuals, and 20.1% had someone living alone who was 65 years of age or older. The average household size
4977-719: The position was saved by a severe drought in the Dakotas and the Canadian West, as well as unfavorable seed times in Argentina and eastern Australia. The oversupply was now wanted to fill the gaps in the 1929 world wheat production. From 97¢ per bushel in May, the price of wheat rose to $ 1.49 in July. When it was seen that figure would make American farmers get more for their crop that year than in 1928, stocks went up again. In August,
5056-537: The present day. Some people believed that abuses by utility holding companies contributed to the Wall Street Crash of 1929 and the Great Depression that followed. Many people blamed the crash on commercial banks that were too eager to put deposits at risk on the stock market. In 1930, 1,352 banks held more than $ 853 million in deposits; in 1931, one year later, 2,294 banks failed with nearly $ 1.7 billion in deposits. Many businesses failed (28,285 failures and
5135-599: The press. That was the start of the Great Crash, but until the severe phase of the crash in October, many investors regarded the September "Babson Break" as a "healthy correction" and buying opportunity. On September 20, 1929, top British investor Clarence Hatry and many of his associates were jailed for fraud and forgery, leading to the suspension of his companies. This may have weakened the confidence of Americans in their own companies, although it had minimal impact on
5214-739: The previous decade had been a time of industrial expansion in the U.S., and much of the profit had been invested in speculation , including in stocks. Many members of the public, disappointed by the low interest rates offered on their bank deposits, committed their relatively small sums to stockbrokers . By 1929, the U.S. economy was showing signs of trouble; the agricultural sector was depressed due to overproduction and falling prices, forcing many farmers into debt, and consumer goods manufacturers also had unsellable output due to low wages and therefore low buying power . Factory owners cut production and fired staff, reducing demand even further. Despite these trends, investors continued to buy shares in areas of
5293-453: The price had fallen to $ 1.31 per bushel. Other important economic barometers were also slowing or even falling by mid-1929, including car sales, house sales, and steel production. The falling commodity and industrial production may have dented even American self-confidence, and the stock market peaked on September 3 at 381.17 just after Labor Day, and it started to falter after Roger Babson issued his prescient "market crash" forecast. By
5372-407: The public their confidence in the market, but their efforts failed to stop the large decline in prices. The massive volume of stocks traded that day made the ticker continue to run until about 7:45 p.m. After a one-day recovery on October 30, when the Dow regained 28.40 points, or 12.34%, to close at 258.47, the market continued to fall, arriving at an interim bottom on November 13, 1929, with
5451-549: The raids. The city of Naples was founded in 1886 by former Confederate general and Kentucky U.S. Senator John Stuart Williams and his partner, Louisville businessman Walter N. Haldeman , the publisher of the Louisville Courier-Journal . Throughout the 1870s and 1880s, magazines and newspapers ran stories about the area's mild climate and abundant fish and likened it to the sunny Italian peninsula . The name Naples caught on when promoters described
5530-568: The region and encountered the Calusa, who resisted attempts by de León to establish a Spanish colony in Florida . This initiated nearly two hundred years of conflict between the Spanish and the Calusa. In the early 18th century, following slave raids from Muscogee and Yamasee raiders allied with European settlers in Carolina , the majority of the remaining Calusa moved south and east to escape
5609-449: The sixth-highest per capita income in the country, along with the second-highest proportion of millionaires per capita in the US. The Naples Zoo at Caribbean Gardens, was founded in 1919. Downtown Naples is home to The Naples Players , the 5th Avenue South, and 3rd Street South shopping districts, which feature a variety of antique luxury shops and fine dining restaurants. Gallery Row is
5688-401: The time: We are reaping the natural fruit of the orgy of speculation in which millions of people have indulged. It was inevitable, because of the tremendous increase in the number of stockholders in recent years, that the number of sellers would be greater than ever when the boom ended and selling took the place of buying. Together, the 1929 stock market crash and the Great Depression formed
5767-474: The violation of public order. There is a debate among economists and historians as to what role the crash played in subsequent economic, social, and political events. The Economist argued in a 1998 article that the Depression did not start with the stock market crash, nor was it clear at the time of the crash that a depression was starting. They asked, "Can a very serious Stock Exchange collapse produce
5846-472: The wheat price fell when France and Italy were bragging about a magnificent harvest, and the situation in Australia improved. That sent a shiver through Wall Street and stock prices quickly dropped, but word of cheap stocks brought a fresh rush of "stags" (amateur speculators) and investors. Congress voted for a $ 100 million relief package for the farmers on the hope of stabilizing wheat prices, but by October,
5925-518: The world instituted measures to suspend trading in the event of rapid declines, claiming that the measures would prevent such panic sales. However, the one-day crash of Black Monday , October 19, 1987, when the Dow Jones Industrial Average fell 22.6%, as well as Black Monday of March 16, 2020 (−12.9%), were worse in percentage terms than any single day of the 1929 crash (although the combined 25% decline of October 28–29, 1929,
6004-411: Was 1.92 and the average family size was 2.38. In 2000, in the city, the population was spread out, with 10.9% under the age of 18, 2.3% from 18 to 24, 14.5% from 25 to 44, 30.0% from 45 to 64, and 42.3% who were 65 years of age or older. The median age was 61 years. For every 100 females, there were 86.0 males. For every 100 females aged 18 and over, there were 83.9 males. In 2000, the median income for
6083-488: Was founded in 1977 to serve migrant farmworkers and their families in Immokalee. It now provides care to over 41,000 residents of Collier County through 20 practices, including internal medicine, family practice, obstetrics, gynecology, pediatrics, behavioral health and dental care. Many movies have been filmed in or around Naples, such as Still Green , Just Cause , Pick-Up and Thunder and Lightning . Scat ,
6162-463: Was larger than that of October 19, 1987, and remains the worst two-day decline as of October 7, 2024 ). The crash followed a speculative boom that had taken hold in the late 1920s. During the latter half of the 1920s, steel production, building construction, retail turnover, automobiles registered, and even railway receipts advanced from record to record. The combined net profits of 536 manufacturing and trading companies showed an increase, in
6241-1105: Was voted the best all-around beach in America by the Travel Channel . Naples area beaches include: Naples is served by the District School Board of Collier County and various private institutions, including the following: While no colleges are based within the city limits, Ave Maria School of Law is located in Vineyards , and Florida SouthWestern State College has a satellite campus in Lely Resort . In addition, Florida Gulf Coast University operates continuing education classes from its Downtown Naples campus. Hodges University sold its campus in North Naples in 2021. Higher education institutions close to Naples include: Since February 2001, Naples has been served by several bus routes operated by
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