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At first, the new organization was very successful, growing, while Wall Street was in a general decline. To compete, the NYSE quickly began offering a second daily opportunity to buy or sell securities. After its immediate success and strong rivalry, it declined, with most members going bankrupt
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writes that it formed "in response to an economic boom and the formation of the first railroad corporations." 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,
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within three years of its founding. Nevertheless, it remained larger than the older board until 1845. The New Board's brokers were "crushed" by the
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99:(NYSE), the New Board emerged in 1835 among the rough and tumble conditions of the very speculative
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setting up rival organizations and then succumbing during ensuing less bullish times.
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and the recession that followed. The exchange then faded before folding in 1848.
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This article about a financial services corporation of the United States is a
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The Big Board: A History of the New York Stock Market
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during the down-turn in the market in general. The "
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