when did the new york stock exchange begin
New York Stock Exchange The earliest recorded organization of securities trading in New York among brokers directly dealing with each other can be traced to the Buttonwood Agreement. Previously securities exchange had been intermediated by the auctioneers who also conducted more mundane auctions of commodities such as wheat and tobacco.[13] On May 17, 1792 twenty four brokers signed the Buttonwood Agreement which set a floor commission rate charged to clients and bound the signers to give preference to the other signers in securities sales. The earliest securities traded were mostly governmental securities such as War Bonds from the Revolutionary War and First Bank of the United States stock,[13] although Bank of New York stock was a non-governmental security traded in the early days.[14] The Bank of North America along with the First Bank of the United States and the Bank of New York were the first shares traded on the New York Stock Exchange.[15]
New York City Subway By the time the first subway opened in 1904, the lines had been consolidated into two privately owned systems, the Brooklyn Rapid Transit Company (BRT, later Brooklyn–Manhattan Transit Corporation, BMT) and the Interborough Rapid Transit Company (IRT). The city built most of the lines and leased them to the companies.[45] The first line of the city-owned and operated Independent Subway System (IND) opened in 1932;[46] this system was intended to compete with the private systems and allow some of the elevated railways to be torn down, but stayed within the core of the City due to its small startup capital.[11] This required it to be run 'at cost', necessitating fares up to double the five-cent fare popular at the time.[47]