Here comes your 99th Hybrid issue

By: Ray Pellecchia

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Comprehending the consequences. Alexander Hamilton, photograph of a contemporary portrait by John Trumbull.

Another seven issues will join Phase III of the NYSE Hybrid Market implementation this Friday, Oct. 27. By the end of this week, we'll be up to 106 issues, by the count of this math-challenged blogger.

Here is the updated list, in .pdf and Excel formats.

I couldn't decide whether to tie this to "Nineteenth Nervous Breakdown" or "Ninety-Nine Tears." Then I stumbled onto this terrific Library of Congress site that mentions two momentous events that happened on Oct. 27:

1) 1787 -- The first of the 85 Federalist Papers was published. This series of essays by ""Publius," the pen name of Alexander Hamilton, James Madison, and John Jay, appeared in the New York Independent Journal, urging New Yorkers to support ratification of the Constitution approved by the Constitutional Convention on Sept. 17, 1787. Excerpt:

AFTER an unequivocal experience of the inefficiency of the subsisting federal government, you are called upon to deliberate on a new Constitution for the United States of America. The subject speaks its own importance; comprehending in its consequences nothing less than the existence of the UNION, the safety and welfare of the parts of which it is composed, the fate of an empire in many respects the most interesting in the world.
-- Alexander Hamilton, Federalist No. 1

According to the site:

The Federalist essays addressed widespread concern that a national government, distanced from the people, would soon grow despotic. The essays eloquently and comprehensively argue that distributing power across the various branches of government provides checks and balances to the concentrated sovereignty of the federal government.

Although written for the New York press, newspapers around the country reprinted the essays. Collected and published in book form in May 1788, the Federalist played an important role in the campaign to ratify the Constitution in New York and Virginia. Ratification of the Constitution was possible without these populous states, but their approval was considered crucial to the success of the new government.

Hamilton is one of my favorite Americans of all time, and contributed as much as any Founding Father to the strength of our infant nation, politically and economically. He also brokered the deal that made New York the financial capital, for which I'm forever grateful because Philadelphia would be a long commute. The great man is also buried a stone's throw from here in the Trinity Church cemetary.

2) A little more prosaic but perhaps even more important to our everyday lives, on Oct. 27, 1904, the New York City subway opened for the first time.

From the Library of Congress site:

Now I, as Mayor, in the name of the people, declare the subway open!
-- New York Mayor George B. McClellan

With these words, New York Mayor George B. McClellan closed a morning of oratory at City Hall in honor of the opening of the New York City Subway System. At precisely 2:35P.M on Thursday, October 27, 1904, the first subway train emerged from City Hall station with Mayor McClellan at the controls.

Twenty-six minutes later, the inaugural express arrived at its destination at 145th Street. The system opened to the general public at 7 P.M. Before the evening was out, the Interborough Rapid Transit Company had tunneled some 150,000 passengers around the city.

The next morning, a fare increase was announced.

Awright, I made up that last thing.

Anyway, it all happened on this Friday in New York/American history.

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trading, stock market, Alexander Hamilton, subway