New York Stock Exchange
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 listed on the exchange reflected this economic shift.
Corporations applying to list their stock on the NYSE must have a minimum of two thousand shareholders. Each original shareholder must have one hundred or more shares, the corporation must be able to issue at least one million shares of stock, and it must also provide a record of earnings for the previous three-year period. The board of the stock exchange may make exceptions to these guidelines.
Corporations may be listed with other stock exchanges (such as the American Stock Exchange) or they may allow stock in their company to be traded as unlisted stocks, which are bought and sold in over-thecounter (OTC) trading. Companies that do not allow shares to be publicly traded are called private corporations.
See also: Stock, Stock Market
"New York Stock Exchange." Gale Encyclopedia of U.S. Economic History. . Encyclopedia.com. (January 22, 2018). http://www.encyclopedia.com/history/encyclopedias-almanacs-transcripts-and-maps/new-york-stock-exchange
"New York Stock Exchange." Gale Encyclopedia of U.S. Economic History. . Retrieved January 22, 2018 from Encyclopedia.com: http://www.encyclopedia.com/history/encyclopedias-almanacs-transcripts-and-maps/new-york-stock-exchange
Encyclopedia.com gives you the ability to cite reference entries and articles according to common styles from the Modern Language Association (MLA), The Chicago Manual of Style, and the American Psychological Association (APA).
Within the “Cite this article” tool, pick a style to see how all available information looks when formatted according to that style. Then, copy and paste the text into your bibliography or works cited list.
Because each style has its own formatting nuances that evolve over time and not all information is available for every reference entry or article, Encyclopedia.com cannot guarantee each citation it generates. Therefore, it’s best to use Encyclopedia.com citations as a starting point before checking the style against your school or publication’s requirements and the most-recent information available at these sites:
Modern Language Association
The Chicago Manual of Style
American Psychological Association
- Most online reference entries and articles do not have page numbers. Therefore, that information is unavailable for most Encyclopedia.com content. However, the date of retrieval is often important. Refer to each style’s convention regarding the best way to format page numbers and retrieval dates.
- In addition to the MLA, Chicago, and APA styles, your school, university, publication, or institution may have its own requirements for citations. Therefore, be sure to refer to those guidelines when editing your bibliography or works cited list.