The Philadelphia Stock Exchange and the City It Made recounts the history of America's first stock exchange and the ways it shaped the growth and decline of the city around it. Founded in 1790, the Philadelphia Stock Exchange, its member firms, and the companies they financed had profound impacts on the city's place in the world economy. At its start, the exchange and its members helped spur the development of the early United States, its financial sector, and its westward expansion. During the nineteenth century, they invested in making Philadelphia the center of industrial America, raising capital for the railroads and coal mines that connected cities to one another and built a fossil fuel-based economy. After financing the Civil War, they underwrote the growth of the modern metropolis, its transportation infrastructure, utility systems, and real estate development. At the turn of the twentieth century, stagnation of the exchange contributed to Philadelphia's loss of power in the national and world economy. This original interpretation of the roots of deindustrialization holds important lessons for other cities that have declined. The exchange's revival following World War II is a remarkable story, but it also illustrates the limits of economic development in postindustrial cities. Unlike earlier eras, the exchange's fortunes diverged from those of the city around it. Ultimately, it became part of a larger, global institution when it merged with NASDAQ in 2008. Far more than a history of a single institution, The Philadelphia Stock Exchange and the City It Made traces the evolving relationship between the exchange and the city. For people concerned with cities and their development, this study offers a long-term history of the public-private partnerships and private sector-led urban development popular today. More generally, it traces the networks of firms and institutions revealed by the securities market and its participants. Herein lies a critical and understudied part of the history of metropolitan economic development.
38) are marked by bold choices that may reflect his exposure to modern European painting. In February 1913, the International Exhibition of Modern Art, better known as the Armory Show, introduced the latest in modern art to a broad ...
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Domenic Vitiello tells the story of the influential Sellers family, placing their experiences in the broader context of industrialization and urbanization in the United States from the colonial era through World War II. The story of the ...
Regional stock exchanges now exist in Chicago, Philadelphia, and Boston and have existed in many other U.S. cities. ... Since there is no trading floor where the Nasdaq operates, the stock exchange built a site in New York City's Times ...
Untermeyer , Samuel 728 , 1294 Unwick , Lyndall 456 Updegraff , Rebecca 649 Updike , Lodowick 469 Upper Columbia River 746 Upper Darby , Pa . 1279 , 1284 Upper Missouri Outfit ( American Fur Co. ) 841 Uppmann Cigar Factory 228 Upton ...