Stock Market History
The stock market history is all about the origin of the stock market. Though many people talk about "The Stock Market," there are really a large number of exchanges in operation around the world at any given time. Some are very small and serve a very specific region while others are widely recognized - such as the exchanges in New York, London and Tokyo. Australia, Warsaw, Tokyo, and London stock exchanges, to name just a few, all have a history in common.
The origins of any stock market or exchange began with one insightful person realizing that the incorporation of funds is the way to operate on a much larger scale than any individual should dare operate a business. The roots of the above mentioned and many other stock markets throughout the world came to fruition due to the industrial revolution that began in Europe easily four centuries in the past. Most "markets" were initially "hawkings" of shares on street corners.
Individuals who wanted to own a piece of a large business purchased these shares. This type of joint ownership was the ingenious way large companies were able to open their doors and sustain years of financial fortitude in what first seemed an unsteady industrial age.
What we know today in the United States as the New York Stock Exchange was no exception to the overall wonder of the financial history in any country around the world. As with each country that have a stock market history, the formulation of the economy was marked by these stock markets. The stock market history is incredibly unique. Each stock market established around the globe flowed with a divine interchange swelling economies toward the future. That's not to say downfalls never occurred.
Quite the contrary is true. One of the first of these organized exchanges occurred in New York City in 1792 under a buttonwood tree in what is now called Battery Park. Each country bears its own unique history. Twenty-three financial leaders signed an agreement of rules, regulations and fees that would bind and further the authenticity of the capabilities of the New York Stock Exchange. It began as simply as securities being auctioned and sold as stocks to the highest bidder.
It continued with stock brokers offering to buy, sell, and trade stocks. Stock brokers doing what they do best. The seller paid the exchange a commission on all stocks or bond sold and the rest as they say is history. Scars from a 1920 bombing on the building that houses what we know today as the New York Stock Exchange (NYSE) are a reminder to the susceptibility for dangerous and angry individuals to seek out those who are perceived to be in power and attack them.
Unfortunately, as was the case in 1920, these attacks only managed to injure or kill innocent bystanders. Located at 22 Wall Street the New York Stock Exchange has endured yeas of both good and bad times. Most of the early trading of stocks revolved around industries such as steel, railroads, and tobacco.
By the 1900's the largest stock companies for buy sell or trade were Westinghouse, Proctor and Gamble, Pillsbury, Sears, Kellogg and Nabisco Crackers. These names are still common in today's stock market. In the natural procession of stock market history one consistent rival to the powerful and affluent New York Stock Exchange is what is known today as the American Stock Exchange.
The American Stock Exchange was first known as the Curbstone Brokers. They were known by that name due to the fact they conducted their stock business outside (curbside) rain or shine. After nearly one hundred years the Curbstone Brokers, who were also briefly known as the New York Curb Exchange, moved inside. In 1919 they purchased a lot at 86 Trinity Place, which is at the west end of Wall Street.
It was there they erected a tall modern building and in 1953 became what they are now known as, The American Stock Exchange. The stock market crash in New York in 1929 ushered in the Great Depression for Americans. This is an omni-important detail in the stock market history and of America too. Shaping and affecting the economy and the banking industry as well as also molding corporate worlds across the globe, stock market history has proven to be both interesting and productive.
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