Stock Market History

Early in our country's the past and stock market history, Boston was the original financial center of America. In Boston bonds for projects that included roads, canals, bridges and commodities for example hides and molasses, were sold and bought by dealers in Boston. Even though business was conducted in Boston, it was not regarded an official location to conduct such financial business that is component regarding the stock market history. It wasn't until 1792 that the united states of America should official organize a formal stock and bond trading within the stock market the past which was located in New York. The new banks that were forming attracted wealthy businessmen, who should sell lottery tickets, bonds and shares of stocks along with their ordinary trade.

During this time, treasury bonds issued by the new Bank regarding the United States were the hottest commodity for trading and speculating. According to stock market history, first organized stock exchange was created in 1792. Benjamin Jay, Paul Sutton and 22 more financial leaders met and agreed to sign an agreement that outlined the rules, regulations and fees for the stock exchange. The original Wall Street was built in 1644 on the decreased end of Manhattan by the Dutch to protect themselves against attacks from the British. The wall was later destroyed but the path that ran along side it remained.

This is how the term Wall Street was first conceived. Stock market the past includes the establishment regarding the Stock Exchange Office. The Stock Exchange Office was used to auction securities every day to be sold to the highest bidder. The seller regarding the securities paid the exchange a commission on each stock or bond sold. Stock market the past shows that the Stock Exchange was an exclusive organization that only the elite of New York's financial community should join.

It wasn't until 1817 that the name regarding the Stock Exchange was officially changed to the New York Stock and Exchange Board. Then in 1863, the New York Stock and Exchange Board decided to change its name to the New York Stock Exchange. In stock market history, it was during 1863 that the New York Stock Exchange moved into the building at the corner of Wall and Broad streets to conduct business. This is the location that the New York Stock Exchange still conducts business today. During the early years regarding the stock market history, there were a little smaller exchanges that competed together with the New York Stock Exchange.

two of these smaller exchanges was known as the Curbstone Brokers due to the fact that they should conduct business outside on the curb return rain or shine. The Curbstone Brokers should deal in smaller businesses that could not meet the requirements that had been set by the New York Stock Exchange. It wasn't until subsequent to the Curbstone Brokers had been in business for over 100 years that they purchased very many at the west end of Wall Street known as Trinity Place. In 1919, the Curbstone Brokers built a tall technological building at 86 Trinity Place. Ten years later the Curbstone Brokers renamed themselves the New York Curb Exchange and moved into their brand new building.

Stock market the past shows that in 1953 the New York Curb Exchange changed its name to the American Stock Exchange. Stock market the past shows there were only 295 corporations in 1800 within the exchange which about 20 traded publicly. By 1835, there were approximately 121 being traded publicly many of those were railroads. In 1869, there were 145 businesses listed, within insurance, steel, farm equipment, tobacco, and other manufacturers. In 1900, USA Steel was the biggest stock being traded.

Stock market the past shows that AT and amp;T, Westinghouse, Eastman Kodak, Procter and Gamble, Pillsbury, Sears, Kellogg, and Nabisco Crackers were also on the New York Stock Exchange during this time period. The market was roaring during this time. Stock market the past shows that a good Wall Street runner someone who delivered paperwork and stock certificates between brokerages should make $8. 00 per day which was an incredible sum considering the prevailing wage at the time was 10 cents or fewer per hour.