Ethel Mary White
(1885 - 1961)
Melbourne, Australia
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In 1885, in the year that Ethel Mary White was born, on February 16th, the first Dow Jones Industrial Average was published by Charles Dow, who also founded the Wall Street Journal. The index was 62.76. It represented 12 stocks - American Cotton Oil, American Sugar, American Tobacco, Chicago Gas, Distilling & Cattle Feeding, General Electric, Laclede Gas, National Lead, North American, Tennessee Coal and Iron, U.S. Leather pfd. and U.S. Rubber.
In 1897, at the age of only 12 years old, Ethel was alive when on March 4th, William McKinley became the 25th President of the United States. He had beaten William Jennings Bryan in the 1896 election by 51% to 46.7% in the popular vote. Six months into his second term as President, McKinley was assassinated.
In 1910, at the age of 25 years old, Ethel was alive when Angel Island, which is in San Francisco Bay, became the immigration center for Asians entering U.S. It was often referred to as "The Ellis Island of the West". Due to restrictive laws against Chinese immigration, many immigrants spent years on the island.
In 1934, when she was 49 years old, on June 6th, the U.S. Securities and Exchange Commission was formed as a response to the stock market crash of 1929 and the continuing Great Depression. Previously, the states regulated the offering and sales of stocks - called "blue sky" laws. They were largely ineffective. Roosevelt created a group (one member was Joseph Kennedy, father of the future President Kennedy) who knew Wall Street well and they defined the mission and operating mode for the SEC. The new organization had broad and stringent rules and oversight and restored public confidence in the stock market in the United States.
In 1961, in the year of Ethel Mary White's passing, on April 17th, about 1,000 CIA trained Cuban exiles invaded Cuba with the intention of igniting a rebellion and overthrowing Castro. They were defeated within three days. Although the operation began under Eisenhower, Kennedy approved it and the operation, named the Bay of Pigs for the beach where they landed, was a humiliation for the United States.
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