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Corner The Market
In finance, cornering the market consists of obtaining sufficient control of a particular stock, commodity, or other asset in an attempt to manipulate the market price. Companies that have cornered their markets have usually done so in an attempt to gain greater leeway in their decisions; for example, they may desire to charge higher prices for their products without fears of losing too much business. The cornerer hopes to gain control of enough of the supply of the commodity to be able to set the price for it. Strategy and risks Cornering a market can be attempted through several mechanisms. The most direct strategy is to buy a large percentage of the available commodity offered for sale in some spot market and hoard it. With the advent of futures trading, a cornerer may buy a large number of futures contracts on a commodity and then sell them at a profit after inflating the price. Although there have been many attempts to corner markets by massive purchases in everything from ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gold Price In USD
Gold is a chemical element; it has chemical symbol Au (from Latin ) and atomic number 79. In its pure form, it is a bright, slightly orange-yellow, dense, soft, malleable, and ductile metal. Chemically, gold is a transition metal, a group 11 element, and one of the noble metals. It is one of the least reactive chemical elements, being the second-lowest in the reactivity series. It is solid under standard conditions. Gold often occurs in free elemental (native state), as nuggets or grains, in rocks, veins, and alluvial deposits. It occurs in a solid solution series with the native element silver (as in electrum), naturally alloyed with other metals like copper and palladium, and mineral inclusions such as within pyrite. Less commonly, it occurs in minerals as gold compounds, often with tellurium (gold tellurides). Gold is resistant to most acids, though it does dissolve in aqua regia (a mixture of nitric acid and hydrochloric acid), forming a soluble tetrachloroaurate a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Aristotle
Aristotle (; 384–322 BC) was an Ancient Greek philosophy, Ancient Greek philosopher and polymath. His writings cover a broad range of subjects spanning the natural sciences, philosophy, linguistics, economics, politics, psychology, and the arts. As the founder of the Peripatetic school of philosophy in the Lyceum (classical), Lyceum in Athens, he began the wider Aristotelianism, Aristotelian tradition that followed, which set the groundwork for the development of modern science. Little is known about Aristotle's life. He was born in the city of Stagira (ancient city), Stagira in northern Greece during the Classical Greece, Classical period. His father, Nicomachus (father of Aristotle), Nicomachus, died when Aristotle was a child, and he was brought up by a guardian. At around eighteen years old, he joined Plato's Platonic Academy, Academy in Athens and remained there until the age of thirty seven (). Shortly after Plato died, Aristotle left Athens and, at the request ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States
The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 contiguous states border Canada to the north and Mexico to the south, with the semi-exclave of Alaska in the northwest and the archipelago of Hawaii in the Pacific Ocean. The United States asserts sovereignty over five Territories of the United States, major island territories and United States Minor Outlying Islands, various uninhabited islands in Oceania and the Caribbean. It is a megadiverse country, with the world's List of countries and dependencies by area, third-largest land area and List of countries and dependencies by population, third-largest population, exceeding 340 million. Its three Metropolitan statistical areas by population, largest metropolitan areas are New York metropolitan area, New York, Greater Los Angeles, Los Angel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stutz Motor Company
The Stutz Motor Car Company was an American automobile manufacturer based in Indianapolis, Indiana that produced high-end sports and luxury cars. The company was founded in 1911 as the Ideal Motor Car Company before merging with the Stutz Auto Parts Company in 1913. Due to the pressures of the Great Depression, the Stutz company went defunct in 1938. The Stutz Motor Car Company produced roughly 39,000 automobiles in their Indianapolis factory during their existence. ''Note:'' This includes The Stutz brand was revived in 1968 as Stutz Motor Car of America, with a focus on producing Neoclassic automobiles. The company is still in existence, but sales of factory-produced vehicles ceased in 1995. History The Ideal Motor Car Company, organized in June 1911 by Harry C. Stutz with his friend, Henry F. Campbell, began building Stutz cars in Indianapolis in 1911.Listing Statements of the New York Stock Exchange, September 13, 1916. They set this business up after a car built by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Robert Sobel
Robert Sobel (February 19, 1931 – June 2, 1999) was an American professor of history at Hofstra University and a well-known and prolific writer of business histories. Biography Sobel was born in the Bronx. He completed his B.S.S. (1951) and M.A. (1952) at City College of New York, and after serving in the U.S. Army, obtained a Ph.D. from New York University in 1957. He started teaching at Hofstra in 1956. Sobel eventually became Lawrence Stessin Distinguished Professor of Business History at Hofstra University. Sobel and his wife, the former Carole Ritter, had two children. He died from brain cancer at his home in Long Beach, New York, on June 2, 1999, at the age of 68. After his death, the university established the ''Robert Sobel Endowed Scholarship for Excellence in Business History & Finance.'' Books Sobel's first business history, published in 1965, was ''The Big Board: A History of the New York Stock Market''. It was the first history of the stock market written ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York Stock Exchange
The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It is the List of stock exchanges, largest stock exchange in the world by market capitalization, exceeding $25 trillion in July 2024. The NYSE is owned by Intercontinental Exchange, an American holding company that it also lists (ticker symbol ICE). Previously, it was part of NYSE Euronext (NYX), which was formed by the NYSE's 2007 merger with Euronext. According to a Gallup, Inc., Gallup poll conducted in 2022, approximately 58% of American adults reported having money invested in the stock market, either through individual stocks, mutual funds, or 401(k), retirement accounts. __FORCETOC__ History The earliest recorded organization of Security (finance), securities trading in New York among brokers directly dealing with each other can be traced to the Buttonwood Agreement. Previously, secu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Panic Of 1907
The Panic of 1907, also known as the 1907 Bankers' Panic or Knickerbocker Crisis, was a financial crisis that took place in the United States over a three-week period starting in mid-October, when the New York Stock Exchange suddenly fell almost 50% from its peak the previous year. The panic occurred during a time of economic recession, and there were numerous bank run, runs affecting banks and trust company, trust companies. The 1907 panic eventually spread throughout the nation when many state and local banks and businesses entered bankruptcy. The primary causes of the run included a retraction of market liquidity by a number of New York City banks and a loss of confidence among depositors, exacerbated by unregulated side bets at bucket shop (stock market), bucket shops. The panic was triggered by the failed attempt in October 1907 to cornering the market, corner the market on stock of the United Copper, United Copper Company. When the bid failed, banks that had lent money to t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The United Copper Company
The United Copper Company was a short-lived United States copper mining business in the early 20th century that played a pivotal role in the Panic of 1907. United Copper was incorporated in 1902 by F. Augustus Heinze, a copper magnate who had tussled for years with Amalgamated Copper for lucrative copper mines in Butte, Montana. The firm was incorporated in New Jersey with an authorized capital of US$80,000,000. United Copper combined Heinze interests in The Montana Ore Purchasing Company, The Nipper Consolidated Copper Company, The Minnie Healy Mining Company, The Corra Rock-Island Mining Company, and The Belmont Mining Company. Retrieved on September 16, 2008. Upon consolidation, United Copper was capable of producing about 42 million pounds (19 thousand metric tons) of copper a year, as compared to 143 million pounds (65 thousand metric tons) per year for Amalgamated Copper. United Copper was literally traded " on the curb" outside the New York Stock Exchange (NYSE). "On ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Northern Pacific Railway
The Northern Pacific Railway was an important American transcontinental railroad that operated across the northern tier of the Western United States, from Minnesota to the Pacific Northwest between 1864 and 1970. It was approved and chartered by the 38th Congress of the United States in the national / federal capital of Washington, D.C., during the last years of the American Civil War (1861-1865), and received nearly of adjacent land grants, which it used to raise additional money in Europe (especially in President Henry Villard's home country of the new German Empire), for construction funding. Construction began in 1870 and the main line opened all the way from the Great Lakes to the Pacific Ocean, just south of the United States-Canada border when Ulysses S. Grant, drove in the final "golden spike" completing the line in western Montana Territory (future State of Montana in 1889), on September 8, 1883. The railroad had about of track and served a large area, including ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York Gold Exchange
The New York Gold Exchange was an exchange formed shortly after the beginning of the American Civil War for the purpose of creating an open market for transactions involving gold and the government-created paper currency, the greenback. Established in 1862, it closed in 1897. History During Civil War The exchange was established in 1862 in a basement on New Street.George Winslow, "New York Gold Market" in '' The Encyclopedia of New York City'' (2d ed.: eds. Kenneth T. Jackson, Lisa Keller & Nancy Flood). The exchange was created during the American Civil War, when the Union issued paper money to fund the war effort. Gold trading was initially banned at the New York Stock Exchange, which viewed the practice as unpatriotic speculation in wartime.Edwin G. Burrows & Mike Wallace, ''Gotham: A History of New York City to 1898'' (Oxford University Press, pp. 900–01. This was because Confederate victories resulted in an increase in the price of gold relative to the greenback dollar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
James Fisk (financier)
James Fisk Jr. (April 1, 1835 – January 7, 1872), known variously as "Big Jim", "Diamond Jim", and "Jubilee Jim" – was an American stockbroker and corporate executive who has been referred to as one of the " robber barons" of the Gilded Age. Though Fisk was admired by the working class of New York and the Erie Railroad, he achieved much ill-fame for his role in Black Friday in 1869, where he and his partner Jay Gould befriended the unsuspecting President Ulysses S. Grant in an attempt to use the President's good name in a scheme to corner the gold market in New York City. On January 7, 1872, Fisk was assassinated in New York City, in relation to his business dealings. Early life Fisk was born in the hamlet of Pownal, Vermont, in Bennington County in 1835. After a brief period in school, he ran away in 1850 and joined Van Amberg's Mammoth Circus & Menagerie. Later, he became a hotel waiter, and finally adopted the business of his father, a peddler. Start in business ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jay Gould
Jason Gould (; May 27, 1836 – December 2, 1892) was an American railroad magnate and financial speculator who founded the Gould family, Gould business dynasty. He is generally identified as one of the Robber baron (industrialist), robber barons of the Gilded Age. His sharp and often unscrupulous business practices made him one of the wealthiest men of the late nineteenth century. Gould was an unpopular figure during his life and remains controversial. Early life and education Gould was born in Roxbury, New York, to Mary More (1798–1841) and John Burr Gould (1792–1866). His maternal grandfather, Alexander T. More, was a businessman, and his great-grandfather, John More, was a Scottish immigrant who founded the town of Moresville, New York. Gould, however, grew up in poverty and had to work at his family's small dairy farm. Gould studied at the Hobart Academy in Hobart, New York, paying his way by bookkeeping. As a young boy, he decided that he wanted nothing to do with far ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
