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ButtonWood agreement- Luke
The Buttonwood Agreement, which took place on May 17, 1792, was an effort to organize securities trading in New York City. -
The New York Stock and Exchange Board was formed- Luke
The New York Stock and Exchange Board was formed on March 8, 1817. The name was shortened to The New York Stock Exchange (NYSE) in 1863. The NYSE is home to more than 2,800 companies whose combined value exceeds $15 trillion. The stocks traded at the exchange are face-to-face trades. -
The Panic of 1826- Luke
The Panic of 1826 was a financial crisis built upon fraudulent financial practices from the management of various firms. -
First organized stock market in New York- Luke
13 years after the exchange was officially chartered -- only 31 shares changed hands, making it the dullest day in the history of the Exchange. -
Depression Hits - Samer
Business houses closed their doors, factories shut down and banks failed (due to investing people's money without permission). Farm income fell some 50 percent. One out of every four Americans was unemployed. -
GC - Bombay Stock Exchange- samer
22 stockbrokers would gather under the banyan trees in front of Mumbai's Town Hall. The locations changed to accommodate brokers but were mostly under the banyan trees.
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Panic of 1837 - Samer
Major recession in the U.S. a sharp decline in cotton prices, a collapsing land bubble, international specie flows, and restrictive lending policies in Great Britain were all to blame. On May 10, 1837, banks in New York City suspended specie payments, meaning that they would no longer redeem commercial paper in specie at full face value. -
GC - The New Board Failure
In 1835 the New Board emerged. It consisted of rejected brokers and dealers who sold stocks directly to people on the street not far from wall street. Unfortunately, it folded in 1848 because members started going bankrupt.
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GC - American Stock Exchange
The Amex played an important role in the financial and business transactions associated with the mining industry in the 19th century. This market begins in 1849 with the curb exchange and the gold rush. -
GC - Panic of 1857
A violent hurricane in Central America was on the same path as a very important shipment of gold from California. Investments were failing, people were loosing money and banks were not able to give people back their money. The shipment was lost in the hurricane and banks began to collapse.
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Western Pennsylvania Oil
Petroleum is discovered in western Pennsylvania and oil stocks are soon traded on the curb market.
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Name changed to the New York Stock Exchange
The New York Stock and Exchange Board shortened this name to the New York Stock Exchange. During this year, they also started constructing its first permanent building.
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New York Gold Exchange
The New York Gold Exchange became part of the New York Stock Exchange, which occurred since it was initially banned at the NYSE since paper money was introduced, but most people would just go to a basement to trade gold. This entitled the New York Stock Exchange to take over and people could only trade gold inside a broker's office.
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Stock Tickers Introduced
The Stock Tickers were first introduced and made receiving information about stock prices a lot quicker for everyone. The ticker allowed for much more accurate prices and sales in a quicker way.
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1873 Second Railroad Collapse - D.W.
Another railroad firm, Jay Cooke and Company, went bankrupt and caused the stock market to drop heavily. This sparked a depression that lasted 5 years and three million people lost their jobs. The poverty rate soared in rural communities. -
The Panic of 1873 - Dillon
Jay Cooke and Co. raised lots of money to finance construction by selling bonds. Eventually the cost of construction ballooned and the bank couldn't keep up with the rising costs.This triggered the first great depression in the United States. -
The Chase National Bank is Chartered - Dillon
The New York legislature chartered the bank to fund a water supply system for New York. -
Congress Deposit Insurance - Dillon
For over 47 years Congress has been considering over 150 proposals for deposit insurance plans. -
DOW In The Wall Street Journal - CP
The Wall Street Journal was first published in 1889, It featured the Dow Jones in the paper so people would be able to read and check the stocks and that was originally delivered via telegraph so it made it more convenient for people. -
DOW Is Born - CP
Two financial reporters Charles Dow and Edward Jones at that time fallowed the index of the 12 largest companies in each sector of the U.S. stock market and calculated the average for them. -
NYSE Moves - CP
The NYSE moves to a new building at the corner of Broad Street and Wall Street, where it is still housed today. -
Ethical & Organized Exchanges - CP
Emanuel S. Mendel begins to organize the curb market to promote
sound and ethical dealings. In 1908, the New York Curb Market Agency's established, codifying trading practices.
