The Farmer Comes to Town

Forty-nine men have headed the New York Stock Exchange since 1817; all were bankers, brokers or otherwise emblematic Wall Streeters. But last week a special Stock Exchange committee broke this 124-year tradition, named a farmer-politician to the presidency. The man: big, dimpled, platter-eared Emil Henry Schram, who never owned more than 100 shares of stock in his life.

If Wall Street's bankers & brokers were peeved at this invasion, they were too beaten to protest. The beating, now in its twelfth year, had pushed Stock Exchange trading volume (on an annual basis...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!