On May 17, 1792, twenty-four stockbrokers gathered outside 68
Wall Street under a buttonwood tree to sign an agreement that would establish
the rules for buying and selling bonds and shares of companies. The Buttonwood
Agreement, as it is known, is so named because the tree served as the regular
meeting place for these pioneers of Wall Street. The signers of the Buttonwood
Agreement drafted their first constitution on March 8, 1817, and named their
nascent organization the New York Stock &amp; Exchange Board.In 1863, this name was
shortened to its modern form, the New York Stock Exchange, which became known
as the NYSE, one of the best-known financial industry brands in the world.
Membership on the NYSE has been held as a valuable property since 1868. Until
the NYSE went both electronic and public in April 2006, the exchange was a
membership-only organization. Members could join the NYSE by purchasing
existing seats, which were limited to 1,366.Merging with the already publicly
traded Archipelago electronic stock exchange, the new company was called the
NYSE Group, Inc., and the seats of the NYSE translated into shares of publicly
traded stock. In 2008, NYSE Euronext welcomed the historic American Stock
Exchange into the world’s leading equities exchange group. Originally called
the "curb market" because its brokers traded outdoors in the street,
the Amex has been at the forefront of the U.S. financial markets over the
course of two centuries.





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Website

Link to a Timeline of the History of the NYSE

More Info

The NYSE trading floor is located at 11 Wall Street and is composed of four rooms used for the facilitation of trading. A fifth trading room, located at 30 Broad Street, was closed in February 2007. The main building, located at 18 Broad Street, between the corners of Wall Street and Exchange Place, was designated a National Historic Landmark in 1978.

New York Stock Exchange

This short tour includes stops at historic banks, stock exchanges, and government buildings related to the city of New York becoming the center of American finance by the early 1900s. 

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In the early 1900s, stock brokers that were not affiliated
with the New York Stock Exchange would buy and sell stocks and securities
outside of centralized buildings. Instead they conducted business on curbsides and
in coffee shops and other public buildings, due to the high prices of membership
to official stock exchange businesses. Trading on the Curb became increasingly
common from 1910 until 1918, whether it was old hat for seasoned stock brokers,
or if it served as a proving ground for newcomers. In an effort to foster unity
and trust among the curb brokers, E. R. McCormick proposed a plan to move the business
of the Curb into a building, and the proposal was approved in 1919. A site was
scoped out adjacent to Trinity Place and Greenwich Street, and in January of
1920, construction began on the New York Curb Exchange Building. The Building
was completed the next year, and business flourished on the Curb for years.

In the years of the Great Depression, business dropped in
the Curb Exchange Building, reportedly from 476 million shares in 1929 to 43
million in 1940. In order to combat this, several floors of the Building were
leased to other organizations while the Stock Exchange continued below. In a
move made to reflect the Curb’s important financial role in the United States,
the Building’s name was changed to the American Stock Exchange (AMEX) on
January 5, 1953. Following this change, the AMEX saw a surge in business in the
1950s, and profits were double of any amount they had ever received, mainly
catering to stocks of smaller businesses. The AMEX was a true competitor to the
NYSE, and in the 1970s, the Board of Governors began an expansion program for
the AMEX Building, which resulted in the finished construction of a trading
mezzanine in 1982, although this did little to expand the space available in
the building. During this time, the AMEX Building was added to the National
Register of Historic Places in June of 1978.

Business continued in the AMEX Building until 2008, when it
merged with NYSE-Euronext, bringing together the two once-rival companies, and on December 1, 2008, the AMEX trading floor was moved to the New York 
Stock Exchange on Wall Street. In 2009,
the AMEX Building closed, and it has been vacant ever since.&nbsp;</div><div> </div>

The American Stock Exchange Building is the former headquarters of the American Stock Exchange. Previously known as the New York Curb Exchange Building, the American Stock Exchange Building was an early hub for stock and security traders in New York City until the New York Stock Exchange became the central trading center for the city in 2008. Since then, the building has remained unused and vacant.

American Stock Exchange

In 1853,
Orlando Potter, a lawyer from Massachusetts, moved to New York City to offer
his services in developing a sewing machine business. Potter quickly became a
prominent member of high society in New York City, known to be an incredibly
wealthy man. Potter died in 1894, and his estate commissioned the construction
of the Empire Building in 1895. Architects
Francis Kimball and George Thompson worked to design the building, and
construction on it began in 1895. The construction took several years to
complete, and in 1898, the building was finished. Several years after the
building’s construction, the newly formed United States Steel Corporation
became the building’s primary tenant, and it would remain the building’s single
largest tenant for 75 years.Initially, the United States Steel Corporation only rented out
portions of the Empire Building from the Potter Estate, and the building was a
source of pride to the family of the late Orlando Potter. However, in 1919, the
Potter family fell into financial troubles, and by this point in time, the
United States Steel Corporation had gained some extensive momentum as a
corporation and an impressive amount of capital. As a
result, the Potter Estate decided to sell the building to the United States
Steel Corporation, which benefitted both parties immensely. Decades later, the
corporation sold the building in 1973 but remained in the building until the
1980s. &nbsp;On June 25, 1996, it was designated as a New York City Landmark,
and in 1997, it was purchased and converted into an apartment complex. One year
later, on August 28, 1998, it was added to the National Register of Historic
Places.







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The Empire Building is a historic skyscraper building located in Manhattan’s Financial District. The building is built on the site of an office building that was constructed in 1859. Completed in 1898, the Empire Building was the headquarters of the United States Steel Corporation from the founding of the corporation in 1901 until 1976. It was designated as a New York City Landmark in June of 1996, and it was added to the National Register of Historic Places in August of 1998.

Empire Building, Manhattan 

The mythical Santa Claus was modeled after a real-life Saint who became famous for his generosity. While most Europeans forgot the story, Dutch residents continued to revere "Sint Nikolass." New York City was founded by the Dutch and was originally named New Amsterday. &nbsp;The connection between the city and Santa Clause became even stronger when New York resident and author&nbsp;Clement Clarke Moore wrote "A Visit From Saint Nicholas" in 1822. The poem began with the now-famous line "Twas the night before Christmas," and with its popularity, the legend of Santa Claus spread throughout the city of New York by the early 1830s.&nbsp;

Remembered only by currency collectors who value its notes that featured Santa Claus, this historic bank operated on Wall Street throughout the second half of the 19th century. Historian Stephen Mihm found that the bank was established in 1853 with a capitalization of half a million dollars and operated until 1893. As a state-chartered bank, it issued its own currency notes in the years prior to the creation of federal notes. The bank was led by Caleb Barstow, who served as president from 1856 to 1874 and was remembered for his generosity. The bank's notes incorporate ships (the original Saint Nicholas was the patron saint of sailors), several images of Santa, and even one bill with early New York founder Peter Stuyvesant.

St. Nicholas Bank, 1854-1893

Known simply as 23 Wall Street, the buildings on the corner of
Wall and Broad Street have represented the epicenter of American capitalism for
over a century. The headquarters of J.P. Morgan and Co., originally Drexel,
Morgan &amp; Co., have been located here since its founding in 1873. Finished
in 1914, the four-story bank still stands today, although scarred by small pockmarks
from the infamous anarchist’s bomb attack that killed 38 people in 1920,
remembered as the Wall Street bombing.On September 16, 1920, one
hundred pounds of dynamite were hidden in a horse-drawn carriage stopped just
across the street from the headquarters of the J.P. Morgan bank. The
dynamite&nbsp;caused a massive explosion that literally rocked Wall Street for
blocks in all directions.



Thirty-eight people were
killed, and more than four hundred were injured.&nbsp;In the aftermath of the
attack, no one claimed responsibility, and despite an investigation spanning
three years, the perpetrators were never found. It is now believed that the
Galleanists, a group of Italian anarchists, led by Mario Buda, an associate of
famous anarchists Sacco and Vanzetti were responsible. Until September 11,
2001, the Wall Street bombing was the deadliest terrorist attack in the history
of New York City. &nbsp;J. P. Morgan decided not to repair the damage, leaving
it as a symbolic gesture of strength overcoming destruction.&nbsp;

23 Wall Street, also known as "The Corner," is an office building situated in Manhattan's Financial District at the intersection of Wall Street and Broad Street. The structure was designed by the architectural firm of Trowbridge and Livingston. Completed in 1914 as the headquarters for the J.P. Morgan and Co., the four-story bank still stands today, although scarred by small pockmarks from the infamous anarchist’s bomb attack that killed 38. 

23 Wall Street, Former Headquarters of J. P. Morgan

The present day Federal Hall stands in the same location as the original City Hall that existed during colonial times. It was in that building where printer and journalist John Peter Zenger was tried for libel in 1733, after publishing views that criticized the royal governor. However, when Zenger's lawyer argued that the truth is a defense against libel, the jury decided that Zenger was, in fact, not guilty. This event would further help the people's case for liberty and freedom.    In 1765, the Stamp Act Congress took place in the City Hall. It was here where the delegates from the colonies protested their dissatisfaction with "taxation without representation." During this meeting, the Congress drafted the Declaration of Rights and Grievances. The document consisted of 13 points of the colonists' protests, the first united action by the colonies.    After the Revolutionary War, the nation searched for a location to establish a capital. New York City decided to hire architect Pierre L'Enfant to help remodel the old City Hall, and offered it to the national government. On April 30, 1789, at this location, George Washington took his first oath of office and was inaugurated as the first president of the United States. Federal Hall became home to the first Congress, Supreme Court, and Executive Branch offices. It was also where the Bill of Rights would be drafted, and eventually ratified.    In 1812, the building was demolished when the capital was moved south to Washington, D.C. The remains were sold for scrap, for around $425. A new building was built in its place using a Greek-revival style. This is the building that we currently see today. From 1842-1862, it served as the U.S. custom house for the Port of New York. Then, from 1862-1920, it served as the New-York sub-Treasury, storing up to 80% of the nation's wealth until the Federal Reserve was built in 1914.   In 1939 the Secretary of the Interior declared that the building was a National Historic Shrine, and in 1955 Congress renamed the building to Federal Hall, in honor of the previous building.

Federal Hall National Memorial is located at the former site of New York's city hall which was constructed in 1703 and later became the first seat of the United States government. The current building was completed in 1842 and is now operated by the National Park Service. The original city hall from the colonial era was the site of the famous trial of John Peter Zenger. In 1765, this was also where the Stamp Act Congress met with delegates from different colonies protesting their dissatisfaction with "taxation without representation." After the Revolutionary War, it was here that George Washington was inaugurated, and this is also the place where the Bill of Rights was proposed and ratified. Federal Hall served as the seat of government from 1789 until 1790 when the U.S. capital was moved to Philadelphia. The original building was demolished in 1812, and this building was constructed and opened for service in 1842 as a U.S. custom house. At the end of the Great Depression, the building began its transition to its current use as a heritage site. Federal Hall is now operated by the National Park Service with artifacts and tours that interpret the colonial era and early republic with an emphasis on the role played by the city of New York. 

Federal Hall

Founded in
1794 by Alexander Hamilton, the Bank of New York opened its first building at
the Walton House in Lower Manhattan on June 9, 1784, only a few months after
the departure of British troops from American soil. In 1797, the Bank
commissioned a new headquarters at 48 Wall Street. This two-story Georgian
building served as the bank’s headquarters through the beginning of the 19th
century. Although the original building no longer stands, its cornerstone can
be seen at the current 48 Wall Street building.The Bank instructed architect Benjamin Wistar Morris to
incorporate something of the institution's Colonial history in the design. That
history is evident inside the main banking hall, where eight murals by J.
Monroe Hewlett illustrate the story of American commerce and the life of the
Bank of New York. From the outside, the building’s major Colonial reference can
be seen from a distance: a tower reminiscent of an 18th-century church, but
thirty stories up in the air—definitely the only Colonial tower in the downtown
skyline.The 30-foot-high main hall of the former Bank of New York
building became a home of the Museum of American Finance on January 11, 2008.
Before opening in its current location, the Museum of American Finance was
housed in the Standard Oil Building at 26 Broadway. Founded in 1988 by John
Herzog as the Museum of American Financial History, the Museum changed its name
to more accurately reflect its focus on American Finance.With more than 10,000 items in its permanent collection, the
Museum holds the world’s largest archive of financial documents and artifacts.
As an affiliate of the Smithsonian Institution, the Museum has access to all of
the Smithsonian’s collections as well as access to collections at other
museums. The Museum of American Finance also publishes a quarterly journal, Financial History, which reaches members
in all 50 U.S. states and 20 other countries.&nbsp;Visitors can see special
exhibits including “The Fed at 100,” which examine the nation’s central bank
and the role it has played throughout its history. Also on view is a jewel
encrusted 18-karat gold Monopoly set.







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The Museum of American Finance is the nation’s only independent museum dedicated to preserving, exhibiting and teaching about American finance and financial history. Housed in an historic bank building on Wall Street, the Museum’s magnificent grand mezzanine banking hall provides an ideal setting for permanent exhibits on the financial markets, money, banking, entrepreneurship, and Alexander Hamilton. With its extensive collection of financial documents and objects, and its seminars and educational programming, the Museum portrays the breadth and richness of American financial history, achievement, and practices. It occupies the former home of the Bank of New York, founded by Alexander Hamilton in 1784.

New York Banking and Stock Exchange Walking Tour

New York Stock Exchange

Introduction

Images

Backstory and Context

Sources

Additional Information