1900 -
1919
|
|
1901
|
High Turnover of Shares
Annual turnover of shares on the NYSE reaches an all-time high of 319 percent.
|
| |
|
1903
|
|
Move To Current Site
On April 22, the NYSE moves into its new quarters at 18 Broad Street. The new trading floor, still in use today, is 60 percent larger than the previous floor.
|
| |
|
1906
|
DJIA Tops 100
The Dow Jones Industrial Average tops 100 for the first time.
|
| |
|
1907
|
Panic of 1907
Rumors of financial problems at Knickerbocker Trust, a leading NY bank, triggers a run on banks throughout the city. This begins the Panic of 1907, regarded as America's most severe financial crisis to date. J.P. Morgan, Sr., who orchestrates a massive operation to infuse cash into banks and shore up the stock market, stems the panic almost single-handedly.
|
| |
|
1911
|
"Blue Sky" Law
Kansas adopts the "Blue Sky" Law, which requires companies issuing securities to file a description of their operations and receive a permit before selling stocks. It also imposes registration requirements on brokers who sell securities. Within two years, 22 other states pass similar laws. An effort to pass a similar law at the federal level fails.
|
| |
|
1913
|
Federal Reserve System
The Federal Reserve System is established to control credit and bring greater stability to the nation's banking structure.
|
| |
|
1914
|
WW1 Causes Longest Exchange Shutdown
As armed conflict engulfs Europe, securities exchanges around the world suspend operations to arrest plunging prices. The NYSE closes its doors on July 31, and does not fully reopen for 4 1/2 months, the longest shutdown in Exchange history.
|
| |
|
1915
|
Market Price in Dollars
Basis of quoting and trading in stocks changed from percent of par value to market price in dollars.
|
| |
|
1918
|
Pneumatic Tube System
An expanded pneumatic tube system goes into operation.
|
| |
|
|
Wall Street Becomes World Financial Leader
World War I is a turning point. America emerges from the war as a creditor rather than a debtor nation, and Wall Street supplants London as the world investment capital. Over the next decade, more than 1,700 foreign issues will be offered publicly in the U.S.
|
| |
|
