The stock market crashed in the fall of 1929, leading the country into an economic depression. The 1929 issue of The Pine Branch has the second highest number of advertisements in the collection. It is possible that businesses may not have experienced any effects of the economic decline yet. However, the 1930-1933 issues have a significant decrease in the number of paid advertisements with the 1933 issue having only five total advertisements.
The 1929 issue was published just a few weeks after the stock market crashed in October of the same year. It has the second highest number of total advertisements, and the most small advertisements from the years 1923-1933. This issue has forty total advertisements across eleven pages with thirty-eight being small, one medium, and one large.
A full year after the stock market crash, this issue has a significant decrease in paid advertisements from the previous year with only twenty-six advertisements across eight pages. Twenty-four were small advertisements, but two were large. Southern Stationery and Printing Company maintained its usual large advertisement, but Churchwell's also paid for a large advertisement in the journal.
The 1931 issue experienced another significant drop in paid advertisements with only fifteen advertisements across six pages. Out of those advertisements, thirteen are small, but two are large. In addition to the large advertisement for the Southern Stationery and Printing Company, there is also one for Churchwell's again.
By 1933, it has been several years since the stock market crashed in 1929, and the journal is seeing its lowest number of paid advertisements in a decade with only five advertisements across two pages. The 1933 issue contains four small advertisements and one large for the Southern Stationery and Printing Company.
