The stock market was in the news again past few days... ... But did you know that one of the famous stock exchange has a deep relationship with coffee ? Yep, that's right, coffee.
The New York Stock and Exchange Board (now called the New York Stock Exchange) started in a coffeeshop. On May 17, 1792, 24 brokers gathered underneath a buttonwood tree outside of 68 Wall Street in New York City and signed an agreement (Buttonwood Agreement) to only trade with each other. The brokers then started to conduct their business in the Tontine Coffee House on the corner of West and Wall Streets.
By 1817 The NYSEB had outgrown the coffee house and had to move to a bigger place. Although the Tontine itself went through a number of transformations, becoming a tavern in 1826 and a hotel in 1832, it is best remembered as the birthplace of the New York Stock Exchange.
The New York Stock and Exchange Board (now called the New York Stock Exchange) started in a coffeeshop. On May 17, 1792, 24 brokers gathered underneath a buttonwood tree outside of 68 Wall Street in New York City and signed an agreement (Buttonwood Agreement) to only trade with each other. The brokers then started to conduct their business in the Tontine Coffee House on the corner of West and Wall Streets.
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| The building with the American flag on top is the Tontine Coffee House |
