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To: puzzlecraft who wrote (34222)	7/7/1999 6:14:00 PM
From: Cosmo Daisey	Respond to of 152472

John, History lesson. Stocks traded by name only in the early days and there never was a plan for symbols. The symbols were abreviations used by the teletype operators who recorded trades, thus the letters of the alphabet corrosponding to the name such as T for telephone. There are only a few origional companies left with their one letter symbols. Woolworth was "Z" because it was the highest alphabet name traded and there was another "W", now Westvaco. There were unlisted stocks that traded streetside in front of the NYSE and was called the "On the curb" or "The curb exchange" for many years and later the American Exchange when they moved indoor. A one letter symbol is prized and most companies that have one will try to keep it. Venitor, the successor to Woolworth is now "Z" QosmodaiseyPhDHistoryChair@wharton.edu