On "Black Thursday", the economic bubble of the Roaring Twenties finally burst. Triggered by an overconfident public who were actively trading stocks purchased with easy credit, a raise in the interest rate by the Federal Reserve, low wages, the proliferation of debt, a struggling agricultural sector and an excess of large bank loans that could not be liquidated. Stock prices fall sharply on a day of heavy liquidation. The following Monday, "Black Monday", the stock market falls 22.6%, the highest one-day decline in U.S. history. The crash triggers similar declines in markets around the world. The next day, "Black Tuesday", panic sets in as investors all try to sell their stocks at once. Over 16 million shares of stock were sold, setting a market record of over $14 billion in paper losses. Stock tickers could keep up with the heavy trading volume. At the end of the day, the market was down 33 points, more than 12.8% and the Great Depression began.Panic set in, and on October 24, Black Thursday, a record 12,894,650 shares were traded. ... Black Monday was followed by Black Tuesday (October 29, 1929), in which stock prices collapsed completely and 16,410,030 shares were traded on the New York Stock Exchange in a single day

The great Stock Market Crash of 1929 actually took place over several days starting on Black Thursday, October 24, 1929, and continuing through the next week, ending on Black Tuesday, October 29. The front page of the New York Daily Investment News on Friday, October 25, tells a story that transcends the words on the page. That action led this newspaper to convey a sense of optimism by declaring that the worst of the panic was over. We know now that this couldn&amp;rsquo;t have been further from the truth. The day we now know as &amp;ldquo;The Crash of &amp;lsquo;29&amp;rdquo; &amp;mdash;or Black Tuesday&amp;mdash;occurred the following week &amp;ndash; on October 29. The combined losses on October 28 and 29 exceeded $30 billion and almost 25% of the stock market&amp;rsquo;s value.  

New York Stock Exchange

Stock Market Crash of 1929

 The Panic of 1907 began with a run on the Knickerbocker Trust Co. of New York. News soon emerged that it was caught up in a scam by bankers Augustus Heinze and Charles Morse, who had borrowed and embezzled vast sums to corner the market in shares of United Copper causing the NY Stock Exchange to fall 50% from its peak   

Illustration shows a crowd of capitalists on Wall Street fleeing a volcano labeled "Common Honesty" erupting in the background; they are carrying packages labeled "Secret Rate Schedules, Rebate Agreements, Watered Stocks, and Frenzied Accounts". The top of the volcano shows the face of Theodore Roosevelt.  

The illustration shows a throng of people on Wall Street rushing to purchase stocks from trading houses that offer various amounts of green or pink trading stamps.  

Illustration shows the Democratic donkey labeled "Democratic Party" sitting among papers that state "The Trusts are to Blame", "Harriman is to Blame", "Wall Street is to Blame", "High Finance is to Blame", "Roosevelt is to Blame / Roosevelt is Not to Blame", "Overcapitalization is to Blame", "The Rail-Roads are to Blame", and "Crooked Business is to Blame". Many are blamed, but no one will accept the responsibility for the panic of 1907.  

1907 Bankers' Panic Knickerbocker Crisis

 On July 1, 2008, the New York State Court of Appeals dismissed all claims against Grasso. The majority opinion stated that since the NYSE was now a subsidiary of a for-profit multinational corporation, the State of New York had no oversight over the affairs of the company in this matter and that prosecution was "not in the public interest".  

On August 27, 2003, it was revealed that Grasso had been given a deferred compensation pay package worth almost $140 million. This caused immediate controversy, as the hand-picked compensation committee consisted mainly of representatives from NYSE-listed companies over which Grasso had regulatory authority as its CEO.On May 24, 2004, Grasso was sued by New York State Attorney General Eliot Spitzer demanding repayment of the majority of the $140 million pay package. Prior to being dismissed Grasso had been in line to receive an additional $48 million over the $139.5 million he had already received; he was not paid the additional funds.

The New York Stock Exchange

Stock Exchange’s Ex-Chief Wins Battle to Keep 140$ retirement pay

The first woman to head one of the NYSE's member firms. She joined the 1,365 male members of the exchange on December 28, 1967.Siebert is sometimes known as the "first woman of finance", despite being preceded in owning a brokerage by Victoria Woodhull.When Siebert purchased her seat, she wasn`t issued the standard scroll all new members received, and which she was required to display. She didn`t receive it until the following year, when the exchange had a new president. Siebert wasn`t universally welcomed. Headlines such as &ldquo;Skirt Invades Exchange&rdquo; and &ldquo;Powder Puff on Wall Street&rdquo; conveyed a reluctance on &ldquo;the Street&rdquo; to accept a sea change that had been making its way through many other professions for years.

The 1st Woman to Own a Seat on the New York Stock Exchange

Woodhull, with sister Tennessee (Tennie) Claflin, became the first female stockbrokers and in 1870 they opened a brokerage firm on Wall Street. Wall Street brokers were shocked. "Petticoats Among the Bovine and Ursine Animals," the New York Sun headlined.Woodhull, Claflin &amp; Company opened in 1870, with the assistance of the wealthy Cornelius Vanderbilt, an admirer of Woodhull's skills as a medium; he is rumoured to have been Tennie's lover, and to have seriously considered marrying her.Woodhull made a fortune on the New York Stock Exchange by advising clients like Vanderbilt. On one occasion she told him to sell his shares short for 150 cents per stock, which he duly followed, and earned millions on the deal. Newspapers such as the New York Herald hailed Woodhull and Claflin as "the Queens of Finance" and "the Bewitching Brokers."

Cartoon shows woman, carrying 2 children and man holding bottle of rum on her back, and speaking to winged woman who is holding a sign reading, "Be saved by free love" (representing suffragist Victoria Woodhull).  

The 1st Woman Stockbroker on Wall Street

The Buttonwood Agreement is the founding document of what is now New York Stock Exchange and is one of the most important financial documents in U.S. history. The agreement organized securities trading in New York City and was signed on May 17, 1792 between 24 stockbrokers outside of 68 Wall Street. According to legend the signing took place under a buttonwood tree where their earliest transactions had occurred. The New York Stock Exchange celebrates the signing of this agreement on May 17, 1792 as its founding.

Courtesy of the New York Stock Exchange  

A 1797 painting by&amp;nbsp;Francis Guy. The building with the American flag is the Tontine Coffee House. Diagonally opposite (southeast corner, extreme right)[1]&amp;nbsp;is the Merchant's Coffee House, where the brokers of the Buttonwood Agreement and others traded before the construction of the Tontine. On the right is&amp;nbsp;Wall Street, leading down to the&amp;nbsp;East River.  

Buttonwood Agreement

 A group of NY brokers formally establish the New York Stock and Exchange Board, an organization that later will be renamed the NewYork Stock Exchange (N.Y.S.E.). formalized and established its first quarters in a rented room at 40 Wall St.  The exchange grew into the largest in the world of companies listed with a capitalization of over $30 trillion. Technology changed as inventions such as the telegraph, stock ticker, and computers transformed stock trading from the physical exchange of documents between specialist brokers on the trading floor to an electronic platform.   

 The first New York Stock Exchange building was completed in 1865. About 15 years later, James Renwick expanded the building. 

The structure was in turn demolished to make way for Emily Post's architect father George Post's Beaux Arts Style building. The exchange is now owned by ICE, a holding company based in Atlanta. The central third of the block contains the original structure at 18 Broad Street, designed in the neoclassical style by George B. Post. The northern third contains a 23-story office annex at 11 Wall Street, designed by Trowbridge &amp; Livingston in a similar style.

 Buttonwood Agreement listing the rules for trading securities was signed by two dozen stockbrokers under a buttonwood tree in front of the Tontine Coffee House which became the 1st home of the Stock Exchange.  

 Edward Callahan invented a telegraphic device showing stock prices with symbols based on Morse Code for the Gold and Stock Telegraph Co, which he called the stock ticker 

New York Stock Exchange

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