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This telephone from the New York Stock Exchange is one of the most rare items you will find from the NYSE. As of the time of this listing, it's one of 5 we know of that have survived. This telephone was made by Western Electric Bell System especially for the NYSE and was installed in 1930 after the Crash of 1929.
The History
During the stock market crash on October 24, 1929, known as "Black Thursday", trading volume exceeded 13 million shares and five days later, on October 29th, volume reached over 16 million shares as the selling accelerated. That volume level record would not be broken for almost 4 decades. Volumes were so great stock tickers could not keep pace and ran up to two hours behind. Communications broke down on the floor. The lack of technology and support systems could not keep pace and greatly contributed to the chaos and panic. Clerks worked through the night just to process the day's trades.
While there are many economic factors that attributed to the Crash of 1929, there was no doubt that the lack of communications technology attributed to the magnitude of the crash. In 1930, the NYSE sought to correct that and the trading floor was remodeled and updated with new technology. They installed 17 new horseshoe-shaped trading posts able to accommodate the trading of 100 stocks each. They replaced the old stock ticker tape machines with the new "Black Box" stock tickers which almost doubled the ticker rate. They also installed new phones throughout the floor to aid communication throughout the Exchange, including this one.
About the NYSE Phone
These rare phones were installed on the trading floor in 1930. We also have a first hand account from a trader that they were installed in "the Garage" which was the new trading floor addition added in 1922. The phone was made specifically by Western Electric Bell System for NYSE use. They remained in use for decades and would be removed in 1980 when the NYSE once again remodeled the trading floor to add more modern computers and communications systems. Very few have survived. We are aware of only 5 of these phones existing including this one making this a truly remarkable, rare, museum-quality piece. A true piece of NYSE history.
The phone is heavy, built to last for decades. The box is solid oak. The front has push buttons for the different lines with a strip of 4 call lights down the middle. The turn button below the lights has an arrow which can be turned to point to the left or right series of lines. These phones were used by officers to send down orders to brokers on the floor and for calls between brokers within the NYSE. They have been referred to as Manual Ring Down Private Line Phone. The back has 3 metal brackets that would make hanging it on a wall fairly simple.
In the pictures provided, we included a couple of photos of the phone installed on the Floor in 1939 and years later in 1956.
Due to the high value and rarity of this item, we will not ship this outside of the United States.
NYSE Trading Floor Telephone
- Dates of Use: Approx 1930 - 1980
- Western Electric Bell System
- Dimensions: approx 13" Wide x 7" Deep x 9" Tall
- Weight: 10.5 lbs
- Condition: As pictured
- Shipment will be insured and require signature upon delivery. 1st time buyers may be asked for ID before shipment.
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