Happy Birthday Wall Street

On May 17, 1792, 24 brokers signed the Buttonwood Agreement:

We the subscribers, brokers for the purchase and sale of public stock do hereby solemnly promise and pledge ourselves to each other, that we will not buy or sell from this day on for any persons whatsoever any kind of public stock at a less rate than one-quarter percent commission on the specie value of, and that we will give preference to each other in our negotiations.

The first shares traded were for the Royal Googloe Parchment Seeke Co. at a price of three crowns and four shillings.
Ok, not really, but the other stuff is true.

Posted by on May 17th, 2006 at 7:08 am


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