DailyTimeCapsule brief
May 28, 1933
On May 28, 1933, the Saranac Lake Prize was awarded to Kent, recognizing his outstanding contributions in his field. This event occurred against a backdrop of economic challenges as America continued to grapple with the Great Depression, which began in 1929. During this period, the nation was experiencing significant political shifts as the Roosevelt administration implemented the New Deal, leading to debates over government intervention in the economy. Additionally, financial institutions faced scrutiny, highlighted by reports indicating that J.P. Morgan's firm netted a profit of $18,284,908 from security issues over a five-year period, raising questions about Wall Street practices and prompting investigations by the Senate, particularly by Senator Couzens regarding charges against counsel Pecora.
Key developments
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On May 28, 1933, renowned artist Rockwell Kent was awarded the Saranac Lake Prize for his exceptional painting. The award ceremony took place at the Riverside Inn, a popular venue for art exhibitions. Kent's win highlighted his influence in the American art scene during the early 20th century.
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On May 28, 1933, a significant event unfolded as the New York Times received news wirelessly for the first time. This advancement in communication allowed for quicker dissemination of information during a politically tumultuous period, with Machado expressing unease while Herrera took the oath as interim Secretary of State. The backdrop of terrorist activities loyal to the junta in New York City highlighted the urgent need for rapid news reporting.
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BIG MORGAN PROFIT IN SECURITY ISSUES; $18,284,908 Netted in 5 Years 1927-31, Papers Turned Over to Senators Show. INNUENDOES ON PECORA Senator Couzens Says Charges Against Counsel Are Coming From New York. MORGAN'S PROFITS ON SECURITY ISSUES
