The Titanic and NYSE

The sinking of the RMS Titanic, as painted by Willy Stöwer (Photo credit: Wikipedia)

Titanic Sinks! And NYSE members come to the aid of the survivors.

When news of the sinking of the Titanic on April 15, 1912 reached New York, members of the NYSE immediately convened a committee to raise funds to help the survivors who would be arriving in port in a matter of days.

Assuming that first class passengers would have means to provide for themselves and that steerage passengers were being cared for by various associations, the NYSE focused its support on second class passengers in need of assistance.

The NYSE quickly raised $20,000 and worked with port authorities and the Red Cross to distribute the needed funds to women and children who survived the terrible disaster.