1942 New York Curb Exchange Trade Ticket - Goodbody & Co

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1942 NY Curb Exchange Trade Ticket - Goodbody & Co now Merrill Lynch

1942 New York Curb Exchange Trade Ticket - Goodbody & Co / Now Merrill Lynch

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Our Price: $175.00

Sale Price: $148.00

Vintage Collection

Product Code: VT242

Qty:

Description

This rare trade ticket was issued in 1942 to Goodbody & Co for shares of the Eastern Company (EML) from Andrews, Posner & Rothschild. Goodbody & Co was founded in NY in 1886 would become one of the largest players on Wall Street becoming the 5th largest brokerage with around 225,000 customers and over 100 branches by 1970. It would also become one of the largest failures on Wall Street. Andrews, Posner & Rothschild were a New York brokerage house. Edwin Posner was elected vice-chairman of the New York Curb Exchange's board of governors in 1942.

Goodbody & Co became one of the most famous failures on Wall Street. They sustained heavy losses in 1970 after they were unable to keep up with the sheer volume of paperwork trades from the various exchanges. This impacted other firms but Goodbody became the center of this disaster. Without quick capital financing, the firm risked liquidation. After efforts to find financing failed, the NYSE stepped in and called an emergency meeting with the major brokerage houses. They feared the impact of Goodbody's failure could tear down the entire financial community. Merrill Lynch was the largest brokerage house in the world at the time and the acquisition would raise serious anti-trust issues which the Justice Department decided to overlook given the alternative. Merrill Lynch purchased Goodbody & Co in December of 1970 in the largest financial merger in U.S. history.

In 1976, senior partner Harold Goodbody was banned from re-entering the financial services industry for filing false financial statements and failure to properly supervise his business.
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The New York Curb Exchange was established in the early 1900s. It got it's name because brokers actually traded on the "curb" outside the New York Stock Exchange. It's name became formalized as the New York Curb Exchange in 1929 and eventually was renamed the American Stock Exchange in 1953.

This one-of-a-kind trade ticket is presented in a gorgeous high quality acrylic display that weights over 1.5 lbs. Magnetically held together, the display is easy to open if want to inspect your item. Perfect for a desktop or bookshelf display.

New York Curb Exchange Trade Ticket - Goodbody & Co / Now Merrill Lynch

Age: 1942
Display measures: 8" x 6" x .75"
Has sever State of NY and IRS revenue stamps on the back.
Weight; over 1.5 lbs
Condition: Excellent; ticket as pictured