RARE \"NYSE\" Emil Schram Hand Signed 3X5.5 Card Dated 1959 For Sale

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RARE \"NYSE\" Emil Schram Hand Signed 3X5.5 Card Dated 1959:
$279.99

Up for sale a RARE! "NYSE" Emil Schram Hand Signed 3X5.5 Card Dated 1959.

1893 – September 18, 1987) was the president of the New York Stock Exchange from 1941 to 1951. In the wake of

the Great Depression, Schram helped restore confidence in investment and

stocks. Before his appointment, Schram did not own any stocks and had

never been a Wall Street trader, making him the first outsider to become

president of the exchange in 155 years. Schram was born in Peru, Indiana where he attended local schools through

high-school. He was accepted into Harvard and Wharton, but couldn't

afford tuition. Instead, he went to work in a timber and coal company with

local offices. At age 21 he proved himself to be an effective farm manager,

making investment decisions that dramatically increased the output of a local

farm under the firms control., Schram's early success in farm management led

him accept a position as chairman of the National Drainage Association, an

agricultural trade group. While working for the Association, Schram applied for

loans with the Reconstruction Finance

Corporation which was a Depression/New Deal era government corporation tasked with making

loans to infrastructure projects and businesses and helping banks resume normal

operations. In 1933, Schram joined the Reconstruction Finance Corporation. In

1939 he became the Chairman of the Board of Directors of the RFC. His

chairmanship was short lived, however, because less than two years later he was

offered the position that would define his career. In 1941 the New York Stock

Exchange was still feeling the effects of the Great Depression. Trade volume

was very low, seats were sold cheaper than in previous decades, and the

exchange had been the target of political attacks. A selection committee was

formed to find a new president, and they selected Schram. Before his

appointment, Schram did not own any stocks and had never been a Wall Street

trader, making him the first outsider to become president of the exchange in

155 years. Schram reformed the management structure of the Exchange, removing

many of the traditional committees in favor of a top-town approach. He spent

$500,000 per year on nationwide advertising programs encouraging the public to

hold on to war bonds in an effort to keep small-time investors out of the

market. Under Schram's leadership, the NYSE recovered, and public confidence

was restored. In 1951, at age 58, Schram retired from the Exchange and returned

home to Peru, Indiana. Schram was succeeded by G. Keith Funston. In his later life he remained active in

civic organizations including the local council of the Boy Scouts of America and

the U.S.O. 

RARE "NYSE" Emil Schram Hand Signed 3X5.5 Card Dated 1959

$279.99

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