THE TICKER
CONNECTING WITH COLLECTIONS
MoAF Adds Noble Manuscripts to Collection
By Sarah Poole , Collections Manager
The most recent addition to the Museum ’ s permanent collection is a group of four illuminated manuscripts donated by MoAF founder John Herzog . These beautifully illustrated documents were presented to Henry George Stebbins Noble , president of the New York Stock Exchange ( NYSE ) from 1914 – 1919 , to commemorate his leadership at the outbreak of World War I .
Noble was born on March 9 , 1859 in New York City . His grandfather , former US Representative Henry George Stebbins , was a stockbroker who served three terms as president of the NYSE in 1851 , 1858 and 1863 . Noble joined his grandfather ’ s firm after graduating college in 1880 and purchased his grandfather ’ s seat on the exchange in 1882 . He was elected governor of the NYSE in 1897 and began his first term as president in May 1914 . Two months later , the world was at war .
On July 31 , the exchange closed and would not fully reopen until December . This remains the longest shutdown in NYSE history . The purpose of the shutdown was to prevent a massive sell-off of Europeanowned American securities in order to fund the war . In Noble ’ s own words , “ There was to be an unexpected run on Uncle Sam ’ s Bank and the Stock Exchange was the paying teller ’ s window through which the money was to be drawn out , so the window was closed to gain time .” On November 28 , the exchange reopened in a limited capacity for bond trading , and stock trading resumed on December 12 , 1914 .
The illuminated manuscripts that are now a part of the Museum ’ s collection emphasize the significance of Noble ’ s leadership during the shutdown crisis :
At the close of a year ’ s most successful and admirable administration by Mr . Henry G . S . Noble as President of the New York Stock Exchange , under the most alarming and exacting conditions , with business transactions suspended for five months , with the whole world in chaos and disorder , and a quiet and orderly settlement of our affairs effected through the firm and masterly grasp of the situation , be it Resolved that the Governing Committee place upon the records its unbounded confidence in its admiration and affection for Mr . Noble .
Noble saw the NYSE through the entire war , serving as president through May 1919 . Few individuals boast as storied a career at the exchange as Noble . He held his seat for a total of 56 years and served as a governor for 37 of those years . He retired in 1938 and continued his family ’ s legacy by passing down his seat to his grandson . When Nobel died on February 6 , 1946 , that seat had remained in his family for 115 years .
6 FINANCIAL HISTORY | Winter 2024 | www . MoAF . org