74-559: Holmby Hills is a neighborhood on the Westside of Los Angeles, California , United States. The neighborhood was developed in the early 20th century by the Janss Investment Company, which developed the rest of Westwood, Los Angeles as well as other "LA" neighborhoods. With the expansion of Sunset Boulevard , Holmby Hills was split into northern and southern sections, each lying within a different community plan area designated by
148-410: A residents' committee ; these are subdivided into residents' small groups of fifteen to forty families. In most urban areas of China, neighbourhood , community , residential community , residential unit , residential quarter have the same meaning: 社区 or 小区 or 居民区 or 居住区 , and is the direct sublevel of a subdistrict ( 街道办事处 ), which is the direct sublevel of a district ( 区 ), which
222-506: A daily rate of 133 in 1931). The 1929 crash brought the Roaring Twenties to a halt. As tentatively expressed by economic historian Charles P. Kindleberger , in 1929, there was no lender of last resort effectively present, which, if it had existed and been properly exercised, would have been key in shortening the business slowdown that normally follows financial crises. The crash instigated widespread and long-lasting consequences for
296-796: A high level of regulation of social life by officials. For example, in the Tang period Chinese capital city Chang'an, neighbourhoods were districts and there were state officials who carefully controlled life and activity at the neighbourhood level. Neighbourhoods in preindustrial cities often had some degree of social specialisation or differentiation. Ethnic neighbourhoods were important in many past cities and remain common in cities today. Economic specialists, including craft producers, merchants, and others, could be concentrated in neighbourhoods, and in societies with religious pluralism neighbourhoods were often specialised by religion. One factor contributing to neighbourhood distinctiveness and social cohesion in past cities
370-620: A mass of 250 million bushels of wheat to be "carried over" when 1929 opened. By May there was also a winter wheat crop of 560 million bushels ready for harvest in the Mississippi Valley. The oversupply caused such a drop in wheat prices that the net incomes of farmers from wheat were threatened with extinction. Stock markets are always sensitive to the future state of commodity markets, and the slump in Wall Street that had been predicted for May by Sir George Paish arrived on time. In June 1929,
444-482: A practice of suspending trading when prices fell rapidly to limit panic selling . Scholars differ over crash's effect on the Great Depression, with some claiming that the price fluctuations were insufficient on their own to trigger a major collapse of the financial system, with others arguing that the crash, combined with the other economic problems in the U.S. at the end of the 1920s, should be jointly interpreted as
518-508: A serious setback to industry when industrial production is for the most part in a healthy and balanced condition?" They argued that there must be some setback, but there was not yet sufficient evidence to prove that it would be long or would necessarily produce a general industrial depression. However, The Economist also cautioned that some bank failures were also to be expected and some banks may not have had any reserves left for financing commercial and industrial enterprises. It concluded that
592-420: A small area within a town or city. The label is commonly used to refer to organisations which relate to such a very local structure, such as neighbourhood policing or Neighbourhood watch schemes. In addition, government statistics for local areas are often referred to as neighbourhood statistics, although the data themselves are broken down usually into districts and wards for local purposes. In many parts of
666-445: A stage in the business cycles which affect all capitalist economies. The " Roaring Twenties ", the decade following World War I that led to the crash, was a time of wealth and excess. Building on post-war optimism, rural Americans migrated to the cities in vast numbers throughout the decade with hopes of finding a more prosperous life in the ever-growing expansion of America's industrial sector. Scholars believe that declines in
740-536: A strategy used during the Panic of 1907 . This encouraged a brief recovery before Black Tuesday. Further action failed to halt the fall, which continued until July 8, 1932; by then, the stock market had lost some 90% of its pre-crash value. The United States Congress responded to the events by passing the Banking Act of 1933 (Glass–Steagall Act), which separated commercial and investment banking . Stock exchanges introduced
814-490: A unit of analysis. In mainland China , the term is generally used for the urban administrative division found immediately below the district level, although an intermediate, subdistrict level exists in some cities. They are also called streets (administrative terminology may vary from city to city). Neighbourhoods encompass 2,000 to 10,000 families. Within neighbourhoods, families are grouped into smaller residential units or quarters of 100 to 600 families and supervised by
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#1732844964629888-470: Is considered the most devastating in the country's history. It is most associated with October 24, 1929, known as "Black Thursday", when about 12.9 million shares were traded on the NYSE in a single day (as compared to an average of 4 million), and October 29, 1929, "Black Tuesday", when some 16.4 million shares were traded. The " Roaring Twenties " of the previous decade had been a time of industrial expansion in
962-850: Is served by the Holmby Hills Homeowners Association , while the southern section is served by the Holmby Westwood Property Owners Association , which it shares with the rest of the northern Westwood area east of UCLA. However, "[i]n 2013, the Holmby Hills Homeowners Association Board has decided to reach out to the homeowners south of Sunset (and east of Beverly Glen) to grow the Association with new members also residing in Holmby Hills having similar interests." In 2000, Holmby Hills
1036-539: Is several blocks east of the University of California, Los Angeles (UCLA). The only school located within Holmby Hills is the Middle School (grades 7–9) component of the independent Harvard-Westlake School . The campus was originally occupied by Westlake School for Girls, which moved from its original site near downtown L.A. to the Holmby Hills campus in 1927. Harvard-Westlake was created in 1989 when Westlake merged with
1110-470: Is the area east of Beverly Glen Boulevard and west of the city limits of Beverly Hills , with Greendale Drive and Brooklawn Drive as its northernmost streets; it is located within the Bel Air – Beverly Crest Community Plan Area, though it is historically distinct from the neighborhoods of both Bel Air and Beverly Crest, as it was developed concurrently with Westwood. Holmby Hills, Bel Air, and Beverly Hills form
1184-577: Is the direct sublevel of a city ( 市 ). (See Administrative divisions of the People's Republic of China ) The term has no general official or statistical purpose in the United Kingdom, but is often used by local boroughs for self-chosen sub-divisions of their area for the delivery of various services and functions, as for example in Kingston-upon-Thames or is used as an informal term to refer to
1258-446: Is well documented for historical Islamic cities. In addition to social neighbourhoods, most ancient and historical cities also had administrative districts used by officials for taxation, record-keeping, and social control. Administrative districts are typically larger than neighbourhoods and their boundaries may cut across neighbourhood divisions. In some cases, however, administrative districts coincided with neighbourhoods, leading to
1332-573: The Great Crash or Crash of '29 , was a major stock market crash in the United States in late 1929, beginning in late October with a sharp decline in prices on the New York Stock Exchange (NYSE) and ending in mid-November. The crash, which began a rapid erosion of confidence in the U.S. banking system and marked the beginning of the worldwide Great Depression , which lasted until 1939,
1406-544: 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. However, the American economy showed ominous signs of trouble. Steel production declined, construction was sluggish, automobile sales went down, and consumers were building up large debts because of easy credit. Despite all
1480-479: The National City Bank of New York . They chose Richard Whitney , vice president of the Exchange, to act on their behalf. With the bankers' financial resources behind him, Whitney placed a bid to purchase 25,000 shares of U.S. Steel at $ 205 per share, a price well above the current market. As traders watched, Whitney then placed similar bids on other " blue chip " stocks. The tactic was similar to one that had ended
1554-502: The Panic of 1907 and succeeded in halting the slide. The Dow Jones Industrial Average recovered, closing down only 6.38 points (2.09%) for the day. On October 28, " Black Monday ", more investors facing margin calls decided to get out of the market, and the slide continued with a record loss in the Dow for the day of 38.33 points, or 12.82%. On October 29, 1929, " Black Tuesday " hit Wall Street as investors traded some 16 million shares on
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#17328449646291628-520: The Pecora Commission was established by the U.S. Senate to study the causes of the crash. The following year, the U.S. Congress passed the Glass–Steagall Act mandating a separation between commercial banks , which take deposits and extend loans , and investment banks , which underwrite , issue, and distribute stocks , bonds , and other securities . Afterwards, stock markets around
1702-468: The ticker tape in brokerage offices around the nation was hours late, and so investors had no idea what most stocks were trading for. Several leading Wall Street bankers met to find a solution to the panic and chaos on the trading floor. The meeting included Thomas W. Lamont , acting head of Morgan Bank ; Albert Wiggin , head of the Chase National Bank ; and Charles E. Mitchell, president of
1776-486: The uptick rule , which allowed short selling only when the last tick in a stock's price was positive, was implemented after the 1929 market crash to prevent short sellers from driving the price of a stock down in a bear raid . The stock market crash of October 1929 led directly to the Great Depression in Europe. When stocks plummeted on the New York Stock Exchange , the world noticed immediately. Although financial leaders in
1850-415: The " Platinum Triangle " of Los Angeles . It is bordered by the city of Beverly Hills on the east, Wilshire Boulevard on the south, Westwood on the west, and Bel Air on the north. In an effort to decrease traffic in the neighborhood, speed bumps have been installed on several key streets. The first European on the land that present-day Holmby Hills, Bel Air , Westwood , and UCLA now occupy
1924-559: The 1900s, Clarence Perry described the idea of a neighbourhood unit as a self-contained residential area within a city. The concept is still influential in New Urbanism . Practitioners seek to revive traditional sociability in planned suburban housing based on a set of principles. At the same time, the neighbourhood is a site of interventions to create Age-Friendly Cities and Communities (AFCC) as many older adults tend to have narrower life space. Urban design studies thus use neighbourhood as
1998-631: The City of Los Angeles: The portion south of Sunset Boulevard extends south to Club View Dr and east to Beverly Glen Boulevard and west of the Los Angeles Country Club ; it is located within the Westwood Community Plan Area, but certain characteristics such as the absence of sidewalks and the presence of historic street lamps that are unique to Holmby Hills help to distinguish it from the remainder of Westwood. The portion north of Sunset
2072-427: The Dow closing at 198.60. The market then recovered for several months, starting on November 14, with the Dow gaining 18.59 points to close at 217.28, and reaching a secondary closing peak ( bear market rally ) of 294.07 on April 17, 1930. The Dow then embarked on another, much longer, steady slide from April 1930 to July 8, 1932, when it closed at 41.22, its lowest level of the 20th century, concluding an 89.2% loss for
2146-509: The Great Depression. True or not, the consequences were dire for almost everybody. Most academic experts agree on one aspect of the crash: It wiped out billions of dollars of wealth in one day, and this immediately depressed consumer buying. The failure set off a worldwide run on US gold deposits (i.e., the dollar) and forced the Federal Reserve to raise interest rates into the slump. Some 4,000 banks and other lenders ultimately failed. Also,
2220-521: The Harvard School for Boys. Neighborhood A neighbourhood (Commonwealth English) or neighborhood (American English) is a geographically localized community within a larger city , town , suburb or rural area , sometimes consisting of a single street and the buildings lining it. Neighbourhoods are often social communities with considerable face-to-face interaction among members. Researchers have not agreed on an exact definition, but
2294-631: The Holmby Park Lawn Bowling Club started in 1927. It is located next to the Los Angeles Country Club . The Frederick R. Weisman Art Foundation , an art gallery named after Frederick R. Weisman , is located on North Carolwood Street. It includes works by many noted artists, including impressionists, post-impressionist, surrealist, and many more, up through today. Residents are zoned to the following Los Angeles Unified School District schools: Warner Avenue Elementary School, Emerson Middle School , and University High School . Holmby Hills
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2368-467: The London Stock Exchange. In the days leading up to the crash, the market was severely unstable. Periods of selling and high volumes were interspersed with brief periods of rising prices and recovery. Selling intensified in mid-October. On October 24, " Black Thursday ", the market lost 11% of its value at the opening bell on very heavy trading. The huge volume meant that the report of prices on
2442-603: The New York Stock Exchange in a single day. Around $ 14 billion of stock value was lost, wiping out thousands of investors. The panic selling reached its peak with some stocks having no buyers at any price. The Dow lost an additional 30.57 points, or 11.73%, for a total drop of 68.90 points, or 23.05% in two days. On October 29, William C. Durant joined with members of the Rockefeller family and other financial giants to buy large quantities of stocks to demonstrate to
2516-675: The U.S., and much of the profit had been invested in speculation , including in stocks. Many members of the public, disappointed by the low interest rates offered on their bank deposits, committed their relatively small sums to stockbrokers . By 1929, the U.S. economy was showing signs of trouble; the agricultural sector was depressed due to overproduction and falling prices, forcing many farmers into debt, and consumer goods manufacturers also had unsellable output due to low wages and thus low purchasing power . Factory owners cut production and fired staff, reducing demand even further. Despite these trends, investors continued to buy shares in areas of
2590-498: The UK wards are roughly equivalent to neighbourhoods or a combination of them. In the United States and Canada , neighbourhoods are often given official or semi-official status through neighbourhood associations , neighbourhood watches or block watches. These may regulate such matters as lawn care and fence height, and they may provide such services as block parties , neighbourhood parks and community security . In some other places
2664-475: The UK, protests often focused on the so-called means test , which the government had instituted in 1931 to limit the amount of unemployment payments made to individuals and families. For working people, the means test seemed an intrusive and insensitive way to deal with the chronic and relentless deprivation caused by the economic crisis. The strikes were met forcefully, with police breaking up protests, arresting demonstrators, and charging them with crimes related to
2738-646: The United Kingdom, as in the United States, vastly underestimated the extent of the crisis that ensued, it soon became clear that the world's economies were more interconnected than ever. The effects of the disruption to the global system of financing, trade, and production and the subsequent meltdown of the American economy were soon felt throughout Europe. In 1930 and 1931, in particular, unemployed workers went on strike, demonstrated in public, and otherwise took direct action to call public attention to their plight. Within
2812-427: The United States. Historians still debate whether the 1929 crash sparked the Great Depression or if it merely coincided with bursting a loose credit-inspired economic bubble. Only 16% of American households were invested in the stock market within the United States during the period leading up to this depression, suggesting that the crash carried somewhat less weight in causing it. However, the psychological effects of
2886-586: The county in southwestern England; Charing Cross Road after Charing Cross junction in London ; Conway Avenue after Conwy in Wales , etc. In the 1920s, English-style streetlamps were added specifically for the neighborhood. After the Wall Street Crash of 1929 , grand mansions were constructed. In 2012, residents tried to be annexed into the city of Beverly Hills , to make sure their potholes would be repaired, but this
2960-543: The crash reverberated across the nation as businesses became aware of the difficulties in securing capital market investments for new projects and expansions. Business uncertainty naturally affects job security for employees, and as the American worker (the consumer) faced uncertainty with regard to income, naturally the propensity to consume declined. The decline in stock prices caused bankruptcies and severe macroeconomic difficulties, including contraction of credit, business closures, firing of workers, bank failures, decline of
3034-409: The crash, economist Irving Fisher famously proclaimed "Stock prices have reached what looks like a permanently high plateau". The optimism and the financial gains of the great bull market were shaken after a well-publicized September 8 prediction from financial expert Roger Babson that "a crash is coming, and it may be terrific". The initial September decline was thus called the "Babson Break" in
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3108-435: The early 2000s, Community Development Corporations, Rehabilitation Networks, Neighbourhood Development Corporations, and Economic Development organisations would work together to address the housing stock and the infrastructures of communities and neighbourhoods (e.g., community centres). Community and Economic Development may be understood in different ways, and may involve "faith-based" groups and congregations in cities. In
3182-632: The economic warning signs and the market breaks in March and May 1929, stocks resumed their advance in June, and the gains continued almost unabated until early September 1929 (the Dow Jones average gained more than 20% between June and September). The market had been on a nine-year run that saw the Dow Jones Industrial Average increase in value tenfold, peaking at 381.17 on September 3, 1929. Shortly before
3256-505: The economy where output was declining and unemployment was increasing, so the purchase price of stocks greatly exceeded their real value. By September 1929, more experienced shareholders realized that prices could not continue to rise and began to get rid of their holdings, which caused share values to stall and then fall, encouraging more to sell. As investors panicked, the selling became frenzied. After Black Thursday, leading bankers joined forces to purchase stock at prices above market value,
3330-507: The end of September, the market had dropped 10% from the peak (the "Babson Break"). Selling intensified in early and mid-October, with sharp down days punctuated by a few up days. Panic selling of massive proportion started the week of October 21 and intensified and culminated on October 24, October 28, and especially October 29 ("Black Tuesday"). The president of the Chase National Bank, Albert H. Wiggin , said at
3404-571: The equivalent organization is the parish , though a parish may have several neighbourhoods within it depending on the area. In localities where neighbourhoods do not have an official status, questions can arise as to where one neighbourhood begins and another ends. Many cities use districts and wards as official divisions of the city, rather than traditional neighbourhood boundaries. ZIP Code boundaries and post office names also sometimes reflect neighbourhood identities. Wall Street Crash of 1929 The Wall Street crash of 1929 , also known as
3478-431: The face value of the stocks that they were buying. Over $ 8.5 billion was out on loan, more than the entire amount of currency circulating in the United States at the time. The rising share prices encouraged more people to invest on the hope that share prices would rise further. Speculation thus fueled further rises and created an economic bubble . Because of margin buying , investors stood to lose large sums of money if
3552-411: The first six months of 1929, of 36.6% over 1928, itself a record half-year. Iron and steel led the way with doubled gains. Such figures set up a crescendo of stock-exchange speculation that led hundreds of thousands of Americans to invest heavily in the stock market. Many people were borrowing money to buy more stocks. By August 1929, brokers were routinely lending small investors more than two-thirds of
3626-408: The following may serve as a starting point: "Neighbourhood is generally defined spatially as a specific geographic area and functionally as a set of social networks. Neighbourhoods, then, are the spatial units in which face-to-face social interactions occur—the personal settings and situations where residents seek to realise common values, socialise youth, and maintain effective social control." In
3700-481: The index in less than three years. Beginning on March 15, 1933, and continuing through the rest of the 1930s, the Dow began to slowly regain the ground it had lost. The largest percentage increases of the Dow Jones occurred during the early and mid-1930s. In late 1937, there was a sharp dip in the stock market, but prices held well above the 1932 lows. The Dow Jones did not return to its peak close of September 3, 1929, for 25 years, until November 23, 1954. In 1932,
3774-496: The largest financial crisis of the 20th century. The panic of October 1929 has come to serve as a symbol of the economic contraction that gripped the world during the next decade. The falls in share prices on October 24 and 29, 1929 were practically instantaneous in all financial markets, except Japan. The Wall Street Crash had a major impact on the U.S. and world economy, and it has been the source of intense academic historical, economic, and political debate from its aftermath until
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#17328449646293848-646: The market turned down or even if it failed to advance quickly enough. The average price to earnings ratio of S&P Composite stocks was 32.6 in September 1929, clearly above historical norms. According to the economist John Kenneth Galbraith , the exuberance also resulted in a large number of people placing their savings and money in leverage investment products like Goldman Sachs 's "Blue Ridge trust" and "Shenandoah Trust", which crashed in 1929 as well, resulting in losses to banks of $ 475 billion in 2010 dollars ($ 663.68 billion in 2023). Good harvests had built up
3922-549: The money supply caused by Federal Reserve decisions had a severely contractionary effect on output. Despite the inherent risk of speculation , it was widely believed that the stock market would continue to rise forever. On March 25, 1929, after the Federal Reserve warned of excessive speculation, a small crash occurred as investors started to sell stocks at a rapid pace, exposing the market's shaky foundation. Two days later, banker Charles E. Mitchell announced that his company,
3996-406: The money supply, and other economically depressing events. The resultant rise of mass unemployment is seen as a result of the crash, although the crash is by no means the sole event that contributed to the depression. The Wall Street Crash is usually seen as having the greatest impact on the events that followed and therefore is widely regarded as signaling the downward economic slide that initiated
4070-431: The neighbourhood as a small-scale democracy , regulated primarily by ideas of reciprocity among neighbours. Neighbourhoods have been the site of service delivery or "service interventions" in part as efforts to provide local, quality services, and to increase the degree of local control and ownership. Alfred Kahn, as early as the mid-1970s, described the "experience, theory and fads" of neighbourhood service delivery over
4144-436: The nephew of leading pioneer William Wolfskill , businessman John W. Wolfskill, son of Mathus (Mathius) Wolfskill, William's younger brother. He paid $ 10 an acre and built a ranch house, near the present-day Mormon Los Angeles Temple . The development of Holmby Hills began when Arthur Letts Sr. , purchased 400 acres (1.6 km) of the original Wolfskill ranch at $ 100 an acre. He called the development "Holmby Hills," which
4218-695: The position was saved by a severe drought in the Dakotas and the Canadian West, as well as unfavorable seed times in Argentina and eastern Australia. The oversupply was now wanted to fill the gaps in the 1929 world wheat production. From 97¢ per bushel in May, the price of wheat rose to $ 1.49 in July. When it was seen that figure would make American farmers get more for their crop that year than in 1928, stocks went up again. In August,
4292-613: The presence of social neighbourhoods. Historical documents shed light on neighbourhood life in numerous historical preindustrial or nonwestern cities. Neighbourhoods are typically generated by social interaction among people living near one another. In this sense they are local social units larger than households not directly under the control of city or state officials. In some preindustrial urban traditions, basic municipal functions such as protection, social regulation of births and marriages, cleaning and upkeep are handled informally by neighbourhoods and not by urban governments; this pattern
4366-529: The present day. Some people believed that abuses by utility holding companies contributed to the Wall Street Crash of 1929 and the Great Depression that followed. Many people blamed the crash on commercial banks that were too eager to put deposits at risk on the stock market. In 1930, 1,352 banks held more than $ 853 million in deposits; in 1931, one year later, 2,294 banks failed with nearly $ 1.7 billion in deposits. Many businesses failed (28,285 failures and
4440-588: The press. That was the start of the Great Crash, but until the severe phase of the crash in October, many investors regarded the September "Babson Break" as a "healthy correction" and buying opportunity. On September 20, 1929, top British investor Clarence Hatry and many of his associates were jailed for fraud and forgery, leading to the suspension of his companies. This may have weakened the confidence of Americans in their own companies, although it had minimal impact on
4514-453: The price had fallen to $ 1.31 per bushel. Other important economic barometers were also slowing or even falling by mid-1929, including car sales, house sales, and steel production. The falling commodity and industrial production may have dented even American self-confidence, and the stock market peaked on September 3 at 381.17 just after Labor Day, and it started to falter after Roger Babson issued his prescient "market crash" forecast. By
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#17328449646294588-571: The prior decade, including discussion of income transfers and poverty. Neighbourhoods, as a core aspect of community, also are the site of services for youth, including children with disabilities and coordinated approaches to low-income populations. While the term neighbourhood organisation is not as common in 2015, these organisations often are non-profit, sometimes grassroots or even core funded community development centres or branches. Community and economic development activists have pressured for reinvestment in local communities and neighbourhoods. In
4662-407: The public their confidence in the market, but their efforts failed to stop the large decline in prices. The massive volume of stocks traded that day made the ticker continue to run until about 7:45 p.m. After a one-day recovery on October 30, when the Dow regained 28.40 points, or 12.34%, to close at 258.47, the market continued to fall, arriving at an interim bottom on November 13, 1929, with
4736-401: The time: We are reaping the natural fruit of the orgy of speculation in which millions of people have indulged. It was inevitable, because of the tremendous increase in the number of stockholders in recent years, that the number of sellers would be greater than ever when the boom ended and selling took the place of buying. Together, the 1929 stock market crash and the Great Depression formed
4810-468: The violation of public order. There is a debate among economists and historians as to what role the crash played in subsequent economic, social, and political events. The Economist argued in a 1998 article that the Depression did not start with the stock market crash, nor was it clear at the time of the crash that a depression was starting. They asked, "Can a very serious Stock Exchange collapse produce
4884-467: The wheat price fell when France and Italy were bragging about a magnificent harvest, and the situation in Australia improved. That sent a shiver through Wall Street and stock prices quickly dropped, but word of cheap stocks brought a fresh rush of "stags" (amateur speculators) and investors. Congress voted for a $ 100 million relief package for the farmers on the hope of stabilizing wheat prices, but by October,
4958-426: The words of the urban scholar Lewis Mumford , "Neighborhoods, in some annoying, inchoate fashion exist wherever human beings congregate, in permanent family dwellings; and many of the functions of the city tend to be distributed naturally—that is, without any theoretical preoccupation or political direction—into neighborhoods." Most of the earliest cities around the world as excavated by archaeologists have evidence for
5032-506: The world instituted measures to suspend trading in the event of rapid declines, claiming that the measures would prevent such panic sales. However, the one-day crash of Black Monday , October 19, 1987, when the Dow Jones Industrial Average fell 22.6%, as well as Black Monday of March 16, 2020 (−12.9%), were worse in percentage terms than any single day of the 1929 crash (although the combined 25% decline of October 28–29, 1929,
5106-463: Was larger than that of October 19, 1987, and remains the worst two-day decline as of October 7, 2024 ). The crash followed a speculative boom that had taken hold in the late 1920s. During the latter half of the 1920s, steel production, building construction, retail turnover, automobiles registered, and even railway receipts advanced from record to record. The combined net profits of 536 manufacturing and trading companies showed an increase, in
5180-643: Was loosely derived from the name of his birthplace, a small hamlet in England called Holdenby , and it was also the name of his estate in Hollywood . Letts died suddenly in 1923, before he could realize his vision. His son-in-law, Harold Janss , took over the project. Zoning for the community, which straddles Sunset Boulevard, was designed to accommodate lot sizes up to 4 acres (16,000 m). The streets were named after places in Great Britain : Devon Avenue after Devon ,
5254-489: Was ranked by Higley 1000 as the richest urban neighborhood in the United States. The 2017 report, however, redrew and expanded the neighborhood's boundaries, causing its ranking to slip. The neighborhood is home to two parks: Holmby Park and De Neve Square Park . The former, Holmby Park, includes two playgrounds, a nine-hole putting green called the Armand Hammer Golf Course, and a classic lawn bowling, home to
5328-607: Was rejected by John A. Mirisch , then Beverly Hills city councilor and later mayor. According to the Holmby Hills Homeowners Association website: "In the 1920s, Sunset Boulevard was a two-lane country road, known as Beverly Boulevard. It was renamed when it was opened through to the Pacific Ocean. When Sunset Boulevard was expanded into a four-lane thoroughfare, Holmby Hills was, for all practical purposes, split into north and south sections." The northern section
5402-655: Was the Spanish soldier Maximo Alanis, who was the grantee of the 4,438-acre (18 km) Rancho San Jose de Buenos Ayres from a Mexican land grant issued by Alta California Governor Manuel Micheltorena in 1843. In 1859, he sold it to Benjamin Davis Wilson , of early Pasadena development, the second Mayor of Los Angeles , and namesake for Mount Wilson in the San Gabriel Mountains . In 1884, Wilson sold Rancho San Jose de Buenos Ayres, at 2,000 acres (8 km), to
5476-482: Was the role of rural to urban migration. This was a continual process in preindustrial cities, and migrants tended to move in with relatives and acquaintances from their rural past. Neighbourhood sociology is a subfield of urban sociology which studies local communities Neighbourhoods are also used in research studies from postal codes and health disparities , to correlations with school drop out rates or use of drugs. Some attention has also been devoted to viewing
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