Market Session NYSE

Trading hours on the floor of the New York Stock Exchange, Wall Street on July 16, 1934 (Monday). Photo copyrighted by the NYSE. Source: New York Public Library.

The New York Stock Exchange, a name adopted in 1863, was originally established by a group of 24 stockbrokers, on May 17, 1792, under a buttonwood tree, outside of 68 Wall Street. In 1903, the NYSE moved into this new building with a much larger Trading Floor, designed by George B. Post, with paneled Georgian marble walls, huge windows and a gilded ceiling, four stories above ground.

On the same day (July 16, 1934 / photo above) the New York Times published an article titled: "ASSAILS KENNEDY'S POOL ACTIVITIES" − «Senate Stock Market Investigating Committee Hits Glass Firm Action. HE PROFITED BY $395,000 This Was the Reason Pecora Objected to Serving, but Difficulty Is Smoothed Over.

WASHINGTON, July 15 (AP). — A pool participated in by Joseph P. Kennedy, now chairman of the Stock Exchange Control Commission, was cited today by the Senate Stock Market Investigating Committee in a report severely condemning such activities.

The pool in question was conducted in shares of the Libby-Owens-Ford Glass Company. Kennedy and his colleagues, evidence before the committee revealed, profited to the extent of $395,000. Pools now are forbidden by the Stock Exchange Control Law.»

«Company Made No Bottles. The report pointed out that the glass company pool "was materially aided by a popular delusion that the company was engaged in manufacturing glass bottles and was therefore to be classified as a repeal stock, whereas in fact it made no bottles and its business was in no way enhanced by the repeal of prohibition" [of alcoholic beverages from 1920 to 1933].»

The auction process of the New York Stock Exchange moved toward automation in 1995 through the use of wireless handheld computers. Since 2007, all NYSE stocks can be traded via its electronic hybrid market.