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 | New York City Wall Street Reviews | Tips 1 - 10 of 137 |  |
 | |  |  | Wall Street: Wall Street and New York Stock Exchange | Tip Rating:   |  |  | |  |
Wall Street, home to the New York Stock Exchange, is where America made its first audacious architectural assertions, as there are many great buildings here by grand old banks and businesses. Wall Street itself took its name from a small wooden defense wall the Dutch built in 1653 to mark the northern limit of New Amsterdam.
Commerce has always been the backbone of New York City's prosperity. In 1792, 24 brokers signed an agreement only to deal with eachother, and the NYSE was born. Membership is strictly limited - in 1817 a seat cost $ 25, today it's over 2 million dollars. There are 17 trading posts which each consist of 22 sections of traders and technology, each trading the stock of up to 10 listed companies.
The most severe "crashes" of the NYSE were "Black Friday" - the gold crash of 24 September 1869, the Wall Street crash of 29 October 1929 which marked the start of the Great Depression, and 19 October 1987 - "Black Monday" - when the Dow Jones index dropped 508 points.
The public viewing gallery has been closed since the 2001 terrorist attacks on Manhattan, but it's really worthwile to take a stroll along Wall Street and the surrounding area. Enjoy the wonderful architecture, some of the other landmarks nearby, and watch besuited brokers march up and down Broad Street, glowing with confidence and trying to look very, very important. Leave a Comment Address: NYSE : 20 Broad StPhone: 656-5168Directions: area : Lower Manhattan / Financial District Subway : Trains 2,3,4,5 to Wall St, or N, R Train to Rector StWebsite: http://www.nyse.com
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| | | | Wall Street: Don't Mention The Bear! | Tip Rating: | | | | |
On the early morning of Dec 16, 1989, New York Stock Exchange awoke to the thought that Santa Claus had arrived early and left his generous gift on the sidewalk. The gift was a 7000 lb mass of bronze sculpted in the form of a flared-nostrils bull ready to charge, the sign most treasured in the world of finance.
Santa Claus was not to be blame -- or to be credited -- this time. The culprit was a Sicilian American sculptor from Vittoria, Ragusa, but lived in SoHo and was known under the name of Arturo Di Modica. In the dead of the night, with the help of thirty friends and a rental truck, Arturo acted out a mission impossible of driving the truck into the guarded section, lifting the heavy merchandise off the truck, and install it on the sidewalk, all within the eight-minute lapse between the patrol rounds.
The gift, as the sculptor indicated, was the symbol of strength, power, and hope, given to the American people after the memory of Black Monday (Oct 19, 1987, the day Dow Jones index recorded the largest loss in history, comparable to the analogous landslide that led to the Great Depression the same month 48 years earlier.)
The police were ordered to remove the bull for its traffic obstruction, but public protest convinced New York City Department of Parks and Recreation to only move it to its permanent location on Bowling Green Park. Leave a Comment Address: Broadway at Bowling GreenDirections: Take the 4 or 5 to Bowling Green.
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New York City
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