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May

The New York Stock Exchange Founded
Dow Jones Industrial Average First Published
The Completion of the Transcontinental Railroad

    New York Stock Exchange Founded

Buttonwood diorama. NYSE. Museum of the City of New York

The history of the the New York Stock Exchange begins with the signing of the Buttonwood Agreement by twenty-four New York City stockbrokers and merchants on May 17, 1792, outside at 68 Wall Street under a Buttonwood tree.

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This Month in Business History

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    December

Left:
Buttonwood diorama. NYSE.
Museum of the City of New York
from the Gottscho-Schleisner Collection,
Prints & Photographs Division
Library of Congress
Reproduction number: LC-G612-T-47539-A


    Dow Jones Industrial Average First Published

Dow Jones Industrial Average - 1900-Present.

Above:
Dow Jones Industrial Average - 1900-Present
Courtesy of StockCharts.com

In the years since the Dow Jones Industrial Average (DJIA) made its debut on May 26, 1896, the Dow Jones Industrial Average (DJIA) has been quoted in news broadcasts, newspapers, and journals as an indicator of financial markets and economic conditions in the United States. Surprisingly, however, although the DJIA is perhaps the best known, it was not the first of the Dow indexes.

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The Completion of the Transcontinental Railroad

The Transcontinental Railroad was the first continuous railroad line across the United States and opened for through traffic on May 10, 1869 when Central Pacific Railroad President Leland Stanford ceremonially drove the gold "Last Spike" at Promontory Summit. Railroads would remain the main form of moving people and goods throughout the United States at least until the advent of the airlines that usurped the bulk of personal travel.

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Right:
"Does not such a meeting make amends?"
Beard, Frank, 1869 May 29
Library of Congress Prints and Photographs Division
Reproduction number: LC-USZC2-747
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  July 23, 2018
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