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    Sale 2508 | Lot 95
    Price Realized: $20,000With Buyer's Premium
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    • Sale 2508 Lot 95

      (ECONOMICS.) Graham, Benjamin; and Dodd, David L. Security Analysis. 8vo, publisher's black cloth, front cover ruled in blind, spine gilt-stamped, top corners bumped with light exposure, few light surface scratches, tiny nick to top of rear board and pinprick to center of spine; contents clean, hinges tight. New York: Whittlesey House, (1934)

      Estimate $18,000 - 25,000

      first edition, second printing, exceedingly rare presentation copy inscribed by graham: "To Melbourne S. Moyer / with the best wishes of / Benj. Graham / Jan 1935." The first copy signed by Graham to appear at auction and only the second signed copy recorded (the other a presentation copy signed by Dodd, sold in these rooms; Swann, Jun 17, 2015, lot 127, $19,000). Melbourne Moyer, the recipient of this copy, was a contemporary of Graham and a Wall Street trader at Fulton Trust Company of New York. Examples of the first edition were issued in both black cloth (as here) and maroon cloth, with no priority of issue established. The most important investment and finance book of the twentieth century.


      Price Realized (with Buyer's Premium) $20,000