| New-York Petroleum Exchange | |
| Type | Resource and stock exchange |
|---|---|
| Location | New York City, United States |
| Closed | February 28, 1885 |
| Key people | L. H. Smith (president) |
| Currency | USD |
The New-York Petroleum Exchange and Stock Board was a resource and stock exchange in New York City. [1] [2] [3] Founded as the New-York Petroleum Exchange, [4] in 1884 the exchange reported oil clearances amounting to 2,373,582,000 barrels, averaging 7,782,000 barrels per day. [5] That year the exchange also began trading in stocks, bonds, and other securities. [6] The institution merged with the competing exchange New-York Mining and National Petroleum Exchange on February 28, 1885, forming the Consolidated Stock and Petroleum Exchange. [7]
By December 1883, the New York Times wrote that "much interest" was being shown in a proposed consolidation between the competing New-York Petroleum Exchange and the New-York Mining Stock and National Petroleum Exchange. The matter was voted on by both exchange members on December 22, 1883. [4] At the vote, members of the New-York Mining Stock and National Petroleum Exchange largely favored consolidation. However, the New-York Petroleum Exchange saw 269 in favor and 250 against, out of a total membership of around 688. Afterwards, a joint committee of three members from each Exchange was proposed, for the drafting of a new constitution and by-laws prior to any consolidation. [8] On March 11, 1884, it was reported that the governing board of the New-York Mining Stock and National Petroleum Exchange had voted against consolidation 29 to 2. One of the reasons given was that the National Exchange treasury contained $204,000, while the New-York Petroleum Exchange only had $74,570. However, a resolution was passed that members of the New-York Petroleum Exchange could join the National Exchange. [9]
The Times reported on August 8, 1884 that "An animated meeting of the New-York Petroleum Exchange was held yesterday afternoon for the purpose of considering the subject of amending the constitution of that Exchange so as to permit the members to trade in stocks, bonds, and other securities." [6] On September 24, 1884, the Governing Committee of the New York Stock Exchange (NYSE) sent notices to Stock Exchange members who were also New-York Petroleum Exchange and Stock Board members, stating that according to Stock Exchange rules, membership could not be retained in both. [2] At a meeting held on December 10, 1884, the New-York Petroleum Exchange and Stock Board amended its constitution. The amendment limited membership to 2,000, with members above an initial 1,700 required to pay a $2,000 initiation fee. [1] In late December 1884, the president of the New-York Petroleum Exchange and Stock Board L. H. Smith issued key facts. Among them, membership was listed at 1,004 at the time, with plans to increase the building fund to potentially build a building to accommodate the exchange. [3] For 1884, the exchange reported oil clearances amounting to 2,373,582,000 barrels, averaging 7,782,000 barrels per day. [5]
On February 3, 1885, the Governing Committee of the exchange voted not to radically remodel their building at Broad-street. [5] The competing exchange New-York Mining and National Petroleum Exchange merged with the New-York Petroleum Exchange and Stock Board on February 28, 1885. The new institution was named the Consolidated Stock and Petroleum Exchange. [7]
NYSE American, formerly known as the American Stock Exchange (AMEX), and more recently as NYSE MKT, is an American stock exchange situated in New York City. AMEX was previously a mutual organization, owned by its members. Until 1953, it was known as the New York Curb Exchange.
The New York Stock Exchange is an American stock exchange at 11 Wall Street in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed companies at US$30.1 trillion as of February 2018. The average daily trading value was approximately US$169 billion in 2013. The NYSE trading floor is at 11 Wall Street and is composed of 21 rooms used for the facilitation of trading. An additional trading room, at 30 Broad Street, was closed in February 2007. The main building and the 11 Wall Street building were designated National Historic Landmarks in 1978.
Astral Oil Works was an American oil company specializing in illuminating oil, and based in Brooklyn, New York. Astral Oil was a high-quality kerosene used in lamps and noted for being relatively safe. It was founded by Charles Pratt. Charles Pratt and Company became part of John D. Rockefeller’s Standard Oil Trust in 1874, although the fact that Astral Oil was a New York branch of Standard Oil in Ohio was not made public until 1892.
The phrase curbstone broker or curb-stone broker refers to a broker who conducts trading on the literal curbs of a financial district. Such brokers were prevalent in the 1800s and early 1900s, and the most famous curb market existed on Broad Street in the financial district of Manhattan. Curbstone brokers often traded stocks that were speculative in nature, as well as stocks in small industrial companies such as iron, textiles and chemicals. Efforts to organize and standardize the market started early in the 20th century under notable curb-stone brokers such as Emanuel S. Mendels.
John Baxter Barbour Jr. was President of the Federal League in baseball in 1914 and president of the Pittsburgh Stock Exchange for eight terms. At the time of his death, he was a member of the John B. Barbour Investment and Security Company.
The Pittsburgh Stock Exchange was a large regional stock market located in Pittsburgh, Pennsylvania from November 11, 1864 until closing on August 23, 1974. It was alternatively named the Pittsburgh Coal Exchange starting on May 27, 1870, and the Pittsburgh Oil Exchange on July 21, 1878 with 180 members. On July 25, 1896 the Exchange formally took the name Pittsburgh Stock Exchange though it had been referred to by that name since the spring of 1894. The Exchange, like many modern day exchanges, was forced to close during sharp economic crashes or crises. On December 24, 1969 The Philadelphia-Baltimore-Washington Stock Exchange bought the Pittsburgh Stock Exchange. At its height the exchange traded over 1,200 companies, but by the last trading day in 1974 only Pittsburgh Brewing Company, Williams & Company and Westinghouse remained listed.
The New York Produce Exchange was a produce exchange at Bowling Green in Lower Manhattan, New York City. It was founded in 1861, and served a network of produce and commodities dealers across the United States. In the 1880s, it had the largest membership of any stock exchange in the United States.
The Consolidated Stock Exchange of New York, also known as the New York Consolidated Stock Exchange or Consolidated, was a stock exchange in New York City, New York in direct competition to the New York Stock Exchange (NYSE) from 1885–1926. It was formed from the merger of other smaller exchanges, and was referred to in the industry and press as the "Little Board." By its official formation in 1885, its membership of 2403 was considered the second largest membership of any exchange in the United States.
Mortimer Hartwell Wagar was an American banker and businessperson. Wagar was a member of the Consolidated Exchange for 33 years. He was president from 1900 until 1903. He retired from the exchange in June 1923, at which point he was vice president. He also helped organize the Clearing House of the Consolidated Exchange, where he was president.
The National Petroleum Exchange was a resource exchange in New York City founded in 1882. In 1883 the National Petroleum Exchange and the New York Mining Stock Exchange were consolidated, becoming the New-York Mining Stock and National Petroleum Exchange. After several other exchange mergers with competitors, the exchange became the Consolidated Stock and Petroleum Exchange of New York, which in 1885 became the Consolidated Stock Exchange of New York.
Charles G. Wilson was an American financier and businessman. Wilson was president of the Consolidated Stock and Petroleum Exchange of New York from 1883 until 1900. As of December 1894, he was serving as President of the New York City Board of Health as well.
The Baltimore Stock Exchange was a regional stock exchange based in Baltimore, Maryland. Opened prior to 1881, The exchange's building was destroyed by the Great Baltimore Fire of 1904, and was then located at 210 East Redwood Street in Baltimore's old financial district. In 1918, the exchange had 87 members, with six or seven members at the time serving the United States in World War I. The Baltimore Stock Exchange was acquired by the Philadelphia Stock Exchange in 1949, becoming the Philadelphia-Baltimore Stock Exchange. The Baltimore Stock Exchange Building was sold and renamed the Totman Building.
The San Francisco Stock and Bond Exchange was a regional stock exchange based in San Francisco, California, United States. Founded in 1882, in 1928 the exchange purchased and began using the name San Francisco Stock Exchange, while the old San Francisco Stock Exchange was renamed the San Francisco Mining Exchange. The San Francisco Curb Exchange was absorbed by the San Francisco Stock Exchange in 1938. In 1956 the San Francisco Stock Exchange merged with the Los Angeles Oil Exchange to create the Pacific Coast Stock Exchange.
The California Oil Exchange was a regional stock exchange in California. It opened in San Francisco on October 18, 1899, with a "large attendance" and 22 listed stocks. The stocks were from the oil districts of Los Angeles, Santa Barbara, and Fresno. Shares sold on the first day included St. Lawrence, San Joaquin, Northfield, Quitable, Big Panoche, Kings County, 100 Eagle, and 200 Stella. It was absorbed by the Los Angeles Stock Exchange in September 1900, when 51 members relinquished their membership in the California Oil Exchange in favor of membership in the other.
The San Francisco Curb Exchange was a curb exchange opened in 1928, formed out of a re-organization of the San Francisco Stock and Bond Exchange and the San Francisco Mining Exchange. The San Francisco Curb Exchange replaced the Mining Exchange at the 350 Bush Street building. The Curb Exchange later left the building in 1938, when the Curb Exchange was absorbed by the San Francisco Stock Exchange.
The St. Louis Stock Exchange was a regional stock exchange located in St. Louis, Missouri. Opened in 1899, in September 1949, the St. Louis Stock Exchange was acquired by the Chicago Stock Exchange, and renamed the Midwest Stock Exchange.
The New Orleans Stock Exchange, or the New-Orleans Stock Exchange, was a regional stock exchange based in New Orleans, Louisiana. As early as 1880, the exchange's sales of stock reached a reported total of $7,891,300. The exchange moved into a new building in 1906, described as the most expensive and artistic structure of its size in the city. At the time, membership was limited to seventy members, with 61 "visiting members." In 1959, the exchange board voted to merge with the Midwest Stock Exchange in Chicago.
The Chicago Curb Exchange was an organized securities market and curb exchange located in Chicago, Illinois. It was alternately known as the Chicago Market.
