Carl Phillipi
(1907 - 1981)
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In 1907, in the year that Carl Phillipi was born, in October, over a 3 week period, the New York stock exchange fell almost 50% from the previous year's high mark. Public panic ensued and there were runs on banks since the U.S. was in the middle of a recession. J.P. Morgan offered his own fortune to back the banks and he was followed by other financiers. This temporarily shored up the banking system, stopping the immediate panic. All of this led to the creation of the Federal Reserve.
In 1932, he was 25 years old when on February 27th, actress Elizabeth Taylor was born in London. Her parents were Americans living in London and when she was 7, the family moved to Los Angeles. Her first small part in a movie was in There's One Born Every Minute in 1942 but her first starring role was in National Velvet in 1944. She became as famous for her 8 marriages (to 7 people) as she was for her beauty and films.
In 1951, he was 44 years old when on June 25th, CBS began broadcasting in color. There were well over 10 million televisions by that time. The first show in color was a musical variety special titled "Premiere". Hardly anyone had a color TV that could see the show.
In 1979, Carl was 72 years old when on March 28th, a partial nuclear meltdown occurred at the power plant at Three Mile Island Pennsylvania. Radiation leaked into the environment, resulting in a rating of 5 on a scale of 7 ("Accident With Wider Consequences") . It ended up costing $1 billion to clean up the site.
In 1981, in the year of Carl Phillipi's passing, on January 20th, Ronald Reagan became the 40th President of the United States. He ran against the incumbent, Jimmy Carter, and won 50.7% of the popular vote to Carter's 41.0%.
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