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]
Albany, New York Fortune 500 companies with offices in Albany include American Express, J.P. Morgan and Chase,[9] Merrill Lynch,[10][11] General Electric, Verizon, Goldman Sachs,[12] International Paper,[13] and Key Bank.[14] In the 21st century, the Capital District has emerged as a major anchor of Tech Valley, the moniker describing the technologically-focused region of eastern New York State. This was the first European settlement in the state. It was settled by Dutch colonists who in 1614, built Fort Nassau for fur trading and Fort Orange in 1624. They formed successful relations with both the Mahican and the Mohawk peoples, two major Native American nations in the region. The fur trade attracted settlers who founded a village called Beverwijck near Fort Orange. In 1664 the English took over the Dutch settlements, renaming the city as Albany, in honor of the then Duke of Albany, the future James II of England and James VII of Scotland. The city was officially chartered in 1686 under English rule. It became the capital of New York State in 1797, following the United States gaining independence in the American Revolutionary War. Albany is one of the oldest surviving settlements of the original British thirteen colonies, and the longest continuously chartered city in the United States. Its charter is possibly the longest-running instrument of municipal government in the Western Hemisphere.[15] During the late 18th century and throughout most of the 19th, Albany was a center of trade and transportation. It is on the north end of the navigable Hudson River, was the original eastern terminus of the Erie Canal connecting to the Great Lakes, and was home to some of the earliest railroad systems in the world. Albany's main exports at the time were beer, lumber, published works, and ironworks. Beginning in 1810, Albany was one of the ten most populous cities in the United States, a distinction it held until the 1860 census.