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**TODAY ONLY**

January 4

New York Stock Exchange Opens Permanent Headquarters
On this day in 1865, the New York Stock Exchange (NYSE) opened its first permanent headquarters at 10-12 Broad, near Wall Street in New York City. The building remained the Exchange until 1903, when it moved to a bigger digs at 18 Broad Street. The 18 Broad Street address is still used today. Paying Off the American Revolution. The government began the US investment market in 1790 when it issued bonds to refinance debts from the Revolutionary War. Most of the early trading consisted of bank stocks and government bonds. On the Road Again... In the 1820s and 1830s, canals and railroads not only created a transportation boom, but a stock market boom. Private corporations and state governments raised money with stocks and bonds. An Exclusive Club. Since 1868, membership on the NYSE has been a valuable property. New members must purchase existing seats, which are limited to 1,366.	Trains, Trains, and Trains. The first railroad stock was traded in 1830. Railroad stocks were the hot stock on the Exchange throughout the 19th century. Under the Buttonwood Tree. The organization of securities trading began in 1792. New York merchants and brokers met under a buttonwood tree on Wall Street. They agreed to buy and sell on a common commission basis. All The Way To Wall Street. In 1817, brokers made the arrangement official and created the New York Stock & Exchange Board. They rented rooms on Wall Street and came up with a constitution that defined proper business conduct. Trading on the Curb. Stock trading always took place outside the Exchange. Well into the 20th century, securities not listed on the NYSE were traded on the streets around Broad and Wall. The American Stock Exchange, which is known as *The Curb,* goes back to the traders who organized as the New York Curb Agency in 1908. The Curb finally moved indoors in 1921. Dividing Dollars And Stocks. In the 18th century, the US dollar was divided not into 100 pennies, or hundredths, but into eighths, like the Spanish silver dollar. When the US stock market opened at the end of the 18th century, prices were based on the Spanish dollar, and were divided into eighths, as well. The practice remains, though the US stock market is finally preparing to switch to a decimal system.	NYSE brokers consult the ticker tape, circa 1899. Link for More. Buying and owning stocks. All about the NYSE. A panorama of the trading floor, bells and all.

Trains, Trains, and Trains. The first railroad stock was traded in 1830. Railroad stocks were the hot stock on the Exchange throughout the 19th century.

Under the Buttonwood Tree. The organization of securities trading began in 1792. New York merchants and brokers met under a buttonwood tree on Wall Street. They agreed to buy and sell on a common commission basis.

All The Way To Wall Street. In 1817, brokers made the arrangement official and created the New York Stock & Exchange Board. They rented rooms on Wall Street and came up with a constitution that defined proper business conduct.

Trading on the Curb. Stock trading always took place outside the Exchange. Well into the 20th century, securities not listed on the NYSE were traded on the streets around Broad and Wall. The American Stock Exchange, which is known as The Curb, goes back to the traders who organized as the New York Curb Agency in 1908. The Curb finally moved indoors in 1921.

Dividing Dollars And Stocks. In the 18th century, the US dollar was divided not into 100 pennies, or hundredths, but into eighths, like the Spanish silver dollar. When the US stock market opened at the end of the 18th century, prices were based on the Spanish dollar, and were divided into eighths, as well. The practice remains, though the US stock market is finally preparing to switch to a decimal system.

TODAY ONLY

January 4

New York Stock Exchange Opens Permanent Headquarters