1860 -
1899
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1861
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Outbreak of the Civil War
At the outbreak of the Civil War, the NYS&EB suspends trading in securities of seceding states.
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1863
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New Name
The New York Stock & Exchange Board becomes the New York Stock Exchange (NYSE).
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1865
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NYSE Moves into Permanent Home
The Exchange moves to 10-12 Broad Street, just south of Wall Street. This move, together with subsequent purchases of adjacent land, establishes Wall and Broad as the center of securities trading in America.
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Lincoln is Assassinated
The Exchange closes for more than a week following the assassination of Abraham Lincoln.
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1866
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NYSE Begins Supervising Listing Policies
The NYSE appoints the Committee on Stock List to take charge of admitting new securities. This begins the Exchange's effort to supervise and control listing policies.
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Trans-Atlantic Cable
The first trans-Atlantic cable is completed, providing instantaneous communication between London and New York.
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1867
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The First Stock Ticker
Invented by Edward A. Calahan, the stock ticker revolutionizes the stock market by bringing current prices to investors everywhere.
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1868
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Property Rights
Membership in the NYSE becomes a "property right," enabling members to sell their seats.
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1869
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"Watering Stocks" Prohibited
The New York Stock Exchange and the Open Board, another exchange, crack down on the practice of issuing shares in secret, known as watering stock.
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All Shares Must Be Registered
The Exchange requires that all shares of listed companies be registered at a bank or other appropriate agency.
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"Watered Stock"
To eliminate "watered stock" (shares issued by a company without authorization), the Exchange requires that all shares of listed companies be registered at a bank or other appropriate agency. Only Erie Railroad refuses to comply. Its shares are delisted from trading for several months until it complies.
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NYSE Consolidation Plan Adopted
May 08
NYSE and Open Board of Brokers adopted a plan of consolidation.
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Gold Speculation Tanks Market
On September 24, gold speculation resulted in "Black Friday."
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1871
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Continuous Trading via Specialists Begins
To foster more liquid markets, the Exchange adopts a system of continuous trading, replacing calls of stocks at set times. As part of the new system, brokers dealing in a particular stock remain at one location on the trading floor, giving rise to the specialist.
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1872
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Specialists are Created
As part of the Exchange's new system of continuous trading to replace calls of stocks at set times, brokers dealing in a particular stock remain at one location on the trading floor, giving rise to the specialist.
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1873
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NYSE Closes for 10 Days
Jay Cooke & Company, a prestigious Philadelphia banking firm, fails on September 19 due to over speculation in railroad stocks. The NYSE closes for ten days as a severe financial panic grips the nation.
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1878
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First Telephone on the Floor
The first telephone is installed on the NYSE floor, just two years after Alexander Graham Bell conducts successful tests in Boston.
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1881
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Paging Begins
The first annunciator board is installed for paging members.
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1886
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First Million Share Day
The Exchange experiences its first million-share day on December 15.
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1887
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Change of Trading Hours
Trading hours change to 10 A.M. until 3 P.M. On Saturdays trading is from 10 A.M. to noon.
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1889
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New York Quotation Company
The New York Quotation Company, a NYSE subsidiary, is organized to provide ticker service to subscribers.
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1892
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NYSE Establishes Clearing House
The New York Stock Exchange Clearing House is organized to centralize and expedite the transfer of securities from broker to broker.
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1895
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Annual Reports Suggested
The Exchange recommends that all listed companies send their shareholders annual reports with an income statement and balance sheet.
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1896
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DJIA Published By Wall Street Journal
The Dow Jones Industrial Average is published by the Wall Street Journal for the first time, with an initial value of 40.74. Among the twelve stocks that comprise the list are American Cotton Oil and Standard Rope and Twine.
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