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词条 New Board
释义

  1. History

     Formation  Boom and decline 

  2. See also

  3. References

  4. External links

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|type = Curb-stone stock exchange
|city = New York City
|country = United States
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|foundation = 1836
|closed =1848
|owner =
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|listings =
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The New Board was an organization of curb-stone brokers established in 1836 in New York City to compete with the New York Stock and Exchange Board. It folded in 1848.[1]

History

Formation

The first local rival of the New York Stock Exchange (NYSE), the New Board emerged in 1835[1] among the rough and tumble conditions of the very speculative curb-side trading during the down-turn in the market in general.[2] The "curb" or "outside" trading the exchange used was a system in which "brokers and dealers traded directly with each other in the street near the exchange."[1] This board grew out of a failed attempt of these brokers to work with the Wall Street board.[5]

Bloomberg writes that it formed "in response to an economic boom and the formation of the first railroad corporations."[1] According to historian Robert Sobel, the New Board was the first of a number of alternative set-ups that occurred in New York trading during periods of high volume, succeeding at first, setting up rival organizations and then succumbing during ensuing less bullish times.[5]

Boom and decline

At first, the new organization was very successful, growing, while Wall Street was in a general decline.[3] To compete, the NYSE quickly began offering a second daily opportunity to buy or sell securities.[1] After its immediate success and strong rivalry, it declined, with most members going bankrupt within three years of its founding. Nevertheless, it remained larger than the older board until 1845.[3] The New Board's brokers were "crushed" by the Panic of 1837 and the recession that followed. The exchange then faded before folding in 1848.[1]

See also

{{portal|Business and economics}}
  • Regional stock exchange
  • List of former stock exchanges in the Americas

References

1. ^{{cite news |last=E. Wright |first= Robert |date=January 8, 2013 |title=The NYSE’s Long History of Mergers and Rivalries |url=https://www.bloomberg.com/view/articles/2013-01-08/nyse-s-long-history-of-mergers-and-rivalries |work=Bloomberg |location= |access-date=April 10, 2017 }}
2. ^Sloane, Leonard 1980 The Anatomy of the Floor, Doubleday: Garden City, New York, p. 22.
3. ^{{Cite book|title = The Big Board: A History of the New York Stock Market|url = https://books.google.com/books?id=GPZQtUCWWYMC|publisher = Beard Books|date = 2000-05-01|isbn = 9781893122666|language = en|first = Robert|last = Sobel|pages = 49, 51}}

External links

  • {{cite news |date=January 8, 2013 |title=The NYSE’s Long History of Mergers and Rivalries |url=https://www.bloomberg.com/view/articles/2013-01-08/nyse-s-long-history-of-mergers-and-rivalries |work=Bloomberg }}
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5 : Defunct companies based in New York (state)|1836 establishments in New York (state)|American companies established in 1836|Companies disestablished in 1848|Former stock exchanges in the United States

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