What did charles mitchell invent? Narrator: The success of large speculators like Livermore and Durant lured smaller investors to Wall Street, but Charles Mitchell, president of National City Bank, virtually invented the idea of mass-marketing stocks and bonds to the general public. This was a totally new idea and a huge success.
How did Charles Mitchell stop the crash of 1929? Mitchell announced that his company, 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.
How did Charles Mitchell make his money? Mitchell formed his own investment house, C.E. Mitchell & Co., in 1911. Five years later he took part in the reorganization of the National City Company, which oversaw investments for the National City Bank, and he soon became its president.
How did Charles Mitchell change the banking industry? To our knowledge, the records of the National City Company were destroyed, and no collection of Mitchell correspondence exists. 2 Edmund Wilson, “Sunshine Charley,” New Republic, 28 June 1933, 176-78, repr. in his The Amer- ican Earthquake (Garden City, N.Y., 1958), 484-89. Time, 2 Jan.
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