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N0KFQ > TODAY 15.11.15 17:14l 47 Lines 1952 Bytes #999 (0) @ WW
BID : 74404_N0KFQ
Read: GUEST
Subj: Today in History - Nov 15
Path: IW8PGT<IZ3LSV<I0OJJ<IR0AAB<VE3UIL<N9PMO<N0KFQ
Sent: 151115/1508Z 74404@N0KFQ.#SWMO.MO.USA.NA BPQ1.4.65
1867
First stock ticker debuts
On this day in 1867, the first stock ticker is unveiled in New
York City. The advent of the ticker ultimately revolutionized the
stock market by making up-to-the-minute prices available to
investors around the country. Prior to this development,
information from the New York Stock Exchange, which has been
around since 1792, traveled by mail or messenger.
The ticker was the brainchild of Edward Calahan, who configured a
telegraph machine to print stock quotes on streams of paper tape
(the same paper tape later used in ticker-tape parades). The
ticker, which caught on quickly with investors, got its name from
the sound its type wheel made.
Calahan worked for the Gold & Stock Telegraph Company, which
rented its tickers to brokerage houses and regional exchanges for
a fee and then transmitted the latest gold and stock prices to
all its machines at the same time. In 1869, Thomas Edison, a
former telegraph operator, patented an improved, easier-to-use
version of Calahan's ticker. Edison's ticker was his first
lucrative invention and, through the manufacture and sale of
stock tickers and other telegraphic devices, he made enough money
to open his own lab in Menlo Park, New Jersey, where he developed
the light bulb and phonograph, among other transformative
inventions.
The last mechanical stock ticker debuted in 1960 and was
eventually replaced by computerized tickers with electronic
displays. A ticker shows a stock's symbol, how many shares have
traded that day and the price per share. It also tells how much
the price has changed from the previous day's closing price and
whether it's an up or down change. A common misconception is that
there is one ticker used by everyone. In fact, private data
companies run a variety of tickers; each provides information
about a select mix of stocks.
73, K.O. n0kfq
N0KFQ @ N0KFQ.#SWMO.MO.USA.NA
E-mail: kohiggs@gmail.com
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