Blue Skies and Boiler Rooms

Buying and Selling Securities in Canada, 1870-1940

Business & Finance, Economics, Economic History, Finance & Investing, Investments & Securities, Nonfiction, History, Modern, 20th Century
Cover of the book Blue Skies and Boiler Rooms by Chris Armstrong, University of Toronto Press, Scholarly Publishing Division
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Chris Armstrong ISBN: 9781442633049
Publisher: University of Toronto Press, Scholarly Publishing Division Publication: December 15, 1997
Imprint: Language: English
Author: Chris Armstrong
ISBN: 9781442633049
Publisher: University of Toronto Press, Scholarly Publishing Division
Publication: December 15, 1997
Imprint:
Language: English

Blue Skies and Boiler Rooms describes the evolution of the securities market in Canada, from the onset of trading, through the boom of the 1920s and the depression of the 1930s, to the outbreak of the Second World War.

The book documents the problems of fraud, misrepresentation, and manipulation of prices, which plagued the securities industry from the outset and which eventually led to market regulation, first by the stock exchanges and later, after the First World War, by governments. Some people argued that regulation to prevent abuses should be modelled on the American ‘blue sky’ legislation, so named after the promises of smooth-talking con men in fly-by-night operations who victimized the unwary with sales pitches offering shares in virtually anything. Even ‘the blue sky above.’ Such legislation became necessary as shady types marketed shares of doubtful value through ‘boiler rooms,’ which used high-pressure mail and telephone selling methods to separate people from their money.

This is a tale well told, with a splendid cast of crooks and raffish characters. It is also an in-depth study based on extensive primary research that captures the distinctiveness of the development of the Canadian securities market. Armstrong’s book shows that today’s Bre-X saga is only the latest in a series of episodes in which investors have fixed their hopes for quick and easy profits on speculative mining stock. It will be welcomed by students and scholars of financial, business, and economic history. 

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Blue Skies and Boiler Rooms describes the evolution of the securities market in Canada, from the onset of trading, through the boom of the 1920s and the depression of the 1930s, to the outbreak of the Second World War.

The book documents the problems of fraud, misrepresentation, and manipulation of prices, which plagued the securities industry from the outset and which eventually led to market regulation, first by the stock exchanges and later, after the First World War, by governments. Some people argued that regulation to prevent abuses should be modelled on the American ‘blue sky’ legislation, so named after the promises of smooth-talking con men in fly-by-night operations who victimized the unwary with sales pitches offering shares in virtually anything. Even ‘the blue sky above.’ Such legislation became necessary as shady types marketed shares of doubtful value through ‘boiler rooms,’ which used high-pressure mail and telephone selling methods to separate people from their money.

This is a tale well told, with a splendid cast of crooks and raffish characters. It is also an in-depth study based on extensive primary research that captures the distinctiveness of the development of the Canadian securities market. Armstrong’s book shows that today’s Bre-X saga is only the latest in a series of episodes in which investors have fixed their hopes for quick and easy profits on speculative mining stock. It will be welcomed by students and scholars of financial, business, and economic history. 

More books from University of Toronto Press, Scholarly Publishing Division

Cover of the book Collective Bargaining in the Essential and Public Service Sectors by Chris Armstrong
Cover of the book Insight by Chris Armstrong
Cover of the book The Decameron Third Day in Perspective by Chris Armstrong
Cover of the book The Loyal Atlantic by Chris Armstrong
Cover of the book A Source Book of Royal Commissions and Other Major Governmental Inquiries in Canadian Education, 1787-1978 by Chris Armstrong
Cover of the book The Aesthetics of Nostalgia by Chris Armstrong
Cover of the book Ideas and the Pace of Change by Chris Armstrong
Cover of the book Medieval Celtic Literature by Chris Armstrong
Cover of the book Soils in Canada by Chris Armstrong
Cover of the book Indigenous Difference and the Constitution of Canada by Chris Armstrong
Cover of the book Stillness in Motion by Chris Armstrong
Cover of the book Canada by Chris Armstrong
Cover of the book Achieving Competence in Social Work through Field Education by Chris Armstrong
Cover of the book The Pioneer Farmer and Backwoodsman by Chris Armstrong
Cover of the book Religion in the Public Sphere by Chris Armstrong
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy