Buttonwood Agreement
Encyclopedia : B : BU : BUT : Buttonwood Agreement
The Buttonwood Agreement, which took place on May 17th, 1792, started the New York Stock & Exchange Board (now called the NYSE, which is short for New York Stock Exchange). This agreement was signed by twenty-four stock brokers outside of 68 Wall Street in New York under a buttonwood tree. The organization drafted its constitution on March 8th, 1817, and named itself the "New York Stock & Exchange Board". In 1863, this name was shortened to its modern form, "New York Stock Exchange". Membership on the NYSE has been held as a valuable property since 1868. These days, members must purchase existing seats, which are now limited to a total of 1,366.
The twenty-four brokers who signed the Buttonwood Agreement were Leonard Bleecker, Hugh Smith, Armstrong & Barnewall, Samuel March, Bernard Hart, Alexander Zuntz, Andrew D. Barclay, Sutton & Hardy, Benjamin Seixas, John Henry, John A. Hardenbrook, Samuel Beebe, Benjamin Winthrop, John Ferrers, Ephraim Hart, Isaac M. Gomez, Gulian McEvers, Augustine H. Lawrence, G. N. Bleecker, John Bush, Peter Anspach, Charles McEvers, Jr., David Reedy, Robinson & Hartshorne.
The Buttonwood Agreement is honored by a regular online column written by the editors of The Economist newspaper.
Personalities of Wall Street
See List of personalities associated with Wall Street.External links
From Wikipedia, the Free Encyclopedia. Original article here. Support Wikipedia by contributing or donating.
All text is available under the terms of the GNU Free Documentation License See Wikipedia Copyrights for details.