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Wall Street
Section:   en » Banks      11 января 2015  


Wall Street
 
Wall Street (Wall Street) - the name of a small narrow street in lower Manhattan in New York City, Broadway leading from the coast of the East River. Considered the historical center of the Financial District of the city. The main attraction of the street - NYSE. The financial district is also sometimes called Wall Street.
 
Adjacent to the New York Stock Exchange on Wall Street at 1, located office BNY Mellon, successor of the oldest in the United States, founded in 1784 by Alexander Hamilton Bank Bank of New York. Among the other attractions of the street should be noted building Federal Hall, where in 1789 was the first in the history of US presidential inauguration.
 
Most major New York financial institutions no longer have their head offices on Wall Street, moving to other parts of the lower and middle of Manhattan, in the state of Connecticut or New Jersey. So one of the financial mastodons, had an office on the street, the company JPMorgan Chase sold its building on Wall Street German bank Deutsche Bank in November 2001.
 
Street name comes from the city wall, which in the XVII century, the northern boundary of the Dutch town of New Amsterdam (one of the first names of New York). In the 1640s and stockade fence boards fenced inhabitants of the colony. Later, on the orders of the West India Company, Governor Peter Stuyvesant Dutch colony, using slave labor to build stronger stockade. By the time the war with Britain reinforced 12-foot wall of timber and earth was strengthened created in 1653 palisades. Built wall protected the settlers from attacks by Indian tribes, New England colonists and the British Army. In 1685, residents have paved the way along the wall, which they called Wall Street, which literally means "Wall Street." In 1699 the wall was destroyed by the British.

At the end of the XVIII century in the beginning of the street sycamore tree grew near where sellers and speculators traded securities. In 1792 they decided to consolidate its association "Plane Agreement» (Buttonwood Agreement). This was the beginning of the New York Stock Exchange.

In 1889, the exchange report «Customers' Afternoon Letter» became known as The Wall Street Journal, received its name from the street. At the moment, an influential daily business newspaper published in New York City. Newspaper company owns Dow Jones & Company.

Manhattan financial district is one of the largest business centers in the US and the second largest in New York after high city. In the late 19th - early 20th century in active construction of skyscrapers (competing with Chicago). Financial District, even today, is itself a skyscraper - detached from the Middle of Manhattan to the north, but soaring at the same height.

1929 brought the so-called "Black Thursday" - the financial collapse on the stock exchange and the ensuing Great Depression. In the period from 24 to 29 October, share prices in the stock market collapsed, causing panic among traders. Dow Jones has returned its value only in 1955. During the Great Depression of the area fell into a state of stagnation. Construction of the World Trade Center in 1966 - 1970 years, funded by the government, just was intended intention to encourage economic development in the area of the city.
 
Wall Street
 
With the opening in 1973 in the neighborhood of the World Trade Center, many large and powerful companies on Wall Street had moved into the building. In the future, this neighborhood has attracted to the area and other major corporations. The attack of 11 September 2001 led to a drop in business activity in the area, and as a result business has to move to other areas of the city, as well as in neighboring states and other business centers of America, such as Chicago and Boston.

 
See also:

  • Morgan Stanley
  • JP Morgan Chase
  • Bank of America
  • Goldman Sachs
  • Citigroup


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