DailyTimeCapsule brief
June 2, 1936
On June 2, 1936, the U.S. Treasury announced a heavily oversubscribed loan offering, reflecting investor confidence in government-backed securities amid the ongoing economic recovery from the Great Depression. Treasury Secretary Henry Morgenthau expressed satisfaction with the oversubscription, indicating strong demand for tax-exempt, low-interest issues, with allotments expected to be announced shortly. Internationally, the British ocean liner Queen Mary arrived in New York, greeted by a jubilant crowd and harbor crafts, marking a significant moment in transatlantic travel. The ship, praised for its steady performance, narrowly missed the record set by the Normandie due to fog delays. Meanwhile, the life insurance industry prepared for an upcoming meeting to discuss the future of financial services in a rapidly changing economic landscape.
Key developments
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On June 2, 1936, a U.S. Treasury loan offering was oversubscribed within just one day, indicating strong market interest in tax-exempt, low-interest bonds. Secretary of the Treasury Henry Morgenthau expressed satisfaction with the response, highlighting Wall Street's enthusiastic reaction. The allotments for this offering were set to be announced the following Thursday, and the conversion offering was set to close the next day.
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NEW YORK GREETS THE QUEEN MARY WITH MIGHTY DIN; HER SPEED CUT BY FOG British Liner Misses the Normandie's Record by 42 Minutes. SALUTED BY HARBOR CRAFT Boats Swarm About as Planes Dip Wings and Throngs Cheer From Shore. GIANT DOCKED SMOOTHLY Passengers Praise Steadiness of Vessel -- Line's Head Calls Her 'Ship of Peace.' NEW YORK CHEERS THE QUEEN MARY
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Life Underwriters to Meet
