The American Civil War ended and the highs in market was followed by the slump, and market soon crashed in the year 1865
The share prices fell to their all time lows and several companies collapsed as the business which came from the US stopped suddenly.
At the same time land reclamation companies failed because of proposal sidelined by the Government and postponed for indefinite period. Along with the companies, huge amount of money from the investors went down the drain and the profession of brokers hit the rock bottom !
It was Premchand's land reclamation company, which eventually led to his downfall to near bankruptcy. He took almost 8 years to re-establish himself but could never reach the same pinnacle.
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| American Civil War |
At the same time land reclamation companies failed because of proposal sidelined by the Government and postponed for indefinite period. Along with the companies, huge amount of money from the investors went down the drain and the profession of brokers hit the rock bottom !
It was Premchand's land reclamation company, which eventually led to his downfall to near bankruptcy. He took almost 8 years to re-establish himself but could never reach the same pinnacle.
