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Article: New York Stock Exchange
- Article from:
- Gale Encyclopedia of U.S. Economic History
CopyrightCOPYRIGHT 2000 The Gale Group Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK STOCK EXCHANGE
The New York Stock Exchange (NYSE), is the country's oldest and largest securities exchange. It dates from May 17, 1792 when local brokers agreed to formalize their business transactions. The brokers had, until then, been buying and selling securities under a designated tree.
In 1825 the NYSE opened for business at 11 Wall Street, New York City. At that time most shares traded were in canal, turnpike, mining, and gaslight companies. Though some industrial securities were traded on the NYSE as early as 1831, it would be 40 years before industries began to dominate the trading floor. As the nation became increasingly oriented toward manufacturing, the companies ...