Kajaanissa kesäkuun 28 p. 1927

Kirje 28.6.1927

Kaanaassa 6/6 1927

Kirje 6.6.1927

14/5 1957 Opettajat Laura Koskela ja Toini Siekkinen Kuoppala

Kirje 14.5.1967

Kaanaassa Urhon päivän iltana 1927

Kirje

Haastattelu Pohjois-Savossa 5.3.1927

Urho Kekkosen haastattelu

Kajaanissa kesäkuun 15 päivänä 1927

Kirje 15.6.1927

With a bang, not a whimper: Pricking Germany's "stock market bubble" in 1927 and the slide into depression

In May 1927, the German central bank intervenedindirectly to reduce lending to equity investors.The crash that followed ended the only stockmarket boom during Germany s relative stabilization 1924-28. This paper examines thefactors that lead to the intervention as well asits consequences. We argue that genuine concernabout the exuberant level of the stock market,in addition to worries about an inflow offoreign funds, tipped the scales in favour ofintervention. The evidence strongly suggeststhat the German central bank under HjalmarSchacht was wrong to be concerned aboutstockprices-there was no bubble. Also, theReichsbank was mistaken in its belief thata fall in the market would reduce theimportance of short-term foreign borrowing,and help to ease conditions in the money market.The misguided intervention had important realeffects. Investment suffered, helping to tipGermany into depression.

A new species of Sycorax Curtis, 1839 from Atlantic Forest in southeastern Brazil

A new species of Sycorax Curtis, 1839 (Diptera, Psychodidae) from the Atlantic Forest in southeastern Brazil. Sycorax bravoi Santos, Ferreira & Falqueto sp. nov. is described and illustrated based on samples collected with a Möricke trap installed on the ground at the Biological Station of Santa Lúcia, municipality of Santa Teresa, in the Brazilian state of Espírito Santo. Males have a paramere with a spiniform prolongation on the distal surface and an aedeagus with a long posterior membranous dorsal prolongation. Females have a racket-shaped genital furca and tubular spermatheca, tapered on the apical third. This finding raises the number of Sycorax species known from Brazil to seven.