Word: buttonwood
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Dates: during 1970-1979
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...fond memories, because remember how many times Dad used to drag me to Brown to see football games on Saturday afternoons. You know what, I don't think Brown ever won. And you know what else. I would have much preferred to stay home and play touch football in Buttonwood Park than see Brown-Lafayette games in Providence...
Haack had suggested the eventual scrapping of one of the Big Board's most cherished principles: that all member brokers must charge the same commissions on stock trades. The rule originated in 1792, when 24 brokers met under a buttonwood tree in downtown Manhattan to found the organization that later became the exchange. They agreed, among other things, not to try to undercut one another's commission rates. Ever since, the fixed-commission system has been generally viewed as essential to the Big Board's existence...