Wall Street English

The street was originally known in Dutch as Het Cingel ("the Belt") when it was part of New Amsterdam during the 17th century. An actual wall existed on the street from 1653 to 1699, and during the 18th century, the location served as a slave market and securities trading site, and from 1703 onwards the location of New York's first city hall, Federal Hall. In the early 19th century, both residences and businesses occupied the area, but increasingly the latter predominated, and New York's financial industry became centered on Wall Street. During the 20th century, several early skyscrapers were built on Wall Street, including 40 Wall Street, once the world's tallest building.

Wall Street itself is a narrow and winding street running from the East River to Broadway and lined with skyscrapers, as well as the New York Stock Exchange Building, the Federal Hall and 1 Wall Street at its western end. The street is near multiple New York City Subway stations, ferry terminals, and the World Trade Center site.

Wall Street English

Download 🔥 https://tinurll.com/2y5I8s 🔥

In the original records of New Amsterdam, the Dutch always called the street Het Cingel ("the Belt"), which was also the name of the original outer barrier street, wall, and canal of Amsterdam. After the English conquest of New Netherland in 1664, they renamed the settlement "New York" and in tax records from April 1665 (still in Dutch) they refer to the street as Het Cingel ofte Stadt Wall ("the Belt or the City Wall").[3] This use of both names for the street also appears as late as 1691 on the Miller Plan of New York.[4] New York Governor Thomas Dongan may have issued the first official designation of Wall Street in 1686, the same year he issued a new charter for New York. Confusion over the origins of the name Wall Street appeared in modern times because in the 19th and early 20th century some historians mistakenly thought the Dutch had called it "de Waal Straat", which to Dutch ears sounds like Walloon Street. However, in 17th century New Amsterdam, de Waal Straat (Wharf or Dock Street) was a section of what is today's Pearl Street.[3]

Slavery had been introduced to Manhattan in 1626, but it was not until December 13, 1711, that the New York City Common Council made a market at the foot of Wall Street the city's first official slave market for the sale and rental of enslaved Black people and Indians.[14][15] The market operated from 1711 to 1762 at the corner of Wall and Pearl Streets, and consisted of a wooden structure with a roof and open sides, although walls may have been added over the years; it could hold approximately 50 people. New York's municipal authorities directly benefited from the sale of slaves by implementing taxes on every person who was bought and sold there.[16]

In 1884, Charles Dow began tracking stocks, initially beginning with 11 stocks, mostly railroads. He looked at average prices for these eleven.[23] Some of the companies included in Dow's original calculations were American Tobacco Company, General Electric, Laclede Gas Company, National Lead Company, Tennessee Coal & Iron, and United States Leather Company.[24] When the average "peaks and troughs" went up consistently, he deemed it a bull market condition; if averages dropped, it was a bear market. He added up prices, and divided by the number of stocks to get his Dow Jones average. Dow's numbers were a "convenient benchmark" for analyzing the market and became an accepted way to look at the entire stock market. In 1889 the original stock report, Customers' Afternoon Letter, became The Wall Street Journal. Named in reference to the actual street, it became an influential international daily business newspaper published in New York City.[25] After October 7, 1896, it began publishing Dow's expanded list of stocks.[23] A century later, there were 30 stocks in the average.[24]

To guard against a vehicular bombing in the area, authorities built concrete barriers, and found ways over time to make them more aesthetically appealing by spending $5000 to $8000 apiece on bollards. Parts of Wall Street, as well as several other streets in the neighborhood, were blocked off by specially designed bollards:

On October 29, 2012, Wall Street was disrupted when New York and New Jersey were inundated by Hurricane Sandy. Its 14-foot-high (4.3 m) storm surge, a local record, caused massive street flooding nearby.[51] The NYSE was closed for weather-related reasons, the first time since Hurricane Gloria in September 1985 and the first two-day weather-related shutdown since the Blizzard of 1888.

Another key anchor for the area is the New York Stock Exchange Building at the corner of Broad Street. It houses the New York Stock Exchange, which is by far the world's largest stock exchange per market capitalization of its listed companies,[66][67][68][69] at US$28.5 trillion as of June 30, 2018.[70] City authorities realize its importance, and believed that it has "outgrown its neoclassical temple at the corner of Wall and Broad streets", and in 1998, offered substantial tax incentives to try to keep it in the Financial District.[18] Plans to rebuild it were delayed by the September 11 attacks.[18] The exchange still occupies the same site. The exchange is the locus for a large amount of technology and data. For example, to accommodate the three thousand people who work directly on the exchange floor requires 3,500 kilowatts of electricity, along with 8,000 phone circuits on the trading floor alone, and 200 miles (320 km) of fiber-optic cable below ground.[42]

The financial industry has been slowly migrating from its historic home in the warren of streets around Wall Street to the more spacious and glamorous office towers of Midtown Manhattan. Morgan Stanley, J.P. Morgan Chase, Citigroup, and Bear Stearns have all moved north.

For over 35 years people have talked about making improvements to the intersections, streets, and sidewalks in the historic downtown of Norwalk, centered around Wall Street and Belden Avenue. Until now, none of the ideas or plans have made it into construction, but that changes in 2022. The City has secured all design funding and identified another $26 million in construction funding to make this important Norwalk neighborhood awesome! 17dc91bb1f