Ladies of the Ticker: Women and Wall Street from the Gilded Age to the Great Depression

by George Robb

Long overlooked in histories of finance, women played an essential role in areas such as banking and the stock market during the late nineteenth and early twentieth centuries. Yet their presence sparked ongoing controversy. Hetty Green's golden touch brought her millions, but she outraged critics with her rejection of domesticity. Progressives like Victoria Woodhull, meanwhile, saw financial acumen as more important for women than the vote. George Robb's pioneering study sheds a light on the financial methods, accomplishments, and careers of three generations of women. Plumbing sources from stock brokers' ledgers to media coverage, Robb reveals the many ways women invested their capital while exploring their differing sources of information, approaches to finance, interactions with markets, and levels of expertise. He also rediscovers the forgotten women bankers, brokers, and speculators who blazed new trails--and sparked public outcries over women's unsuitability for the predatory rough-and-tumble of market capitalism. Entertaining and vivid with details, Ladies of the Ticker sheds light on the trailblazers who transformed Wall Street into a place for women's work.

Genres: Nonfiction, History, Feminism, Historical

264 pages, Paperback

First published August 16, 2017

Reviews

[RavensScar]

I got an Arc of this book thru Netgalley in exchange for an honest review.

The book was an interesting read.

[Annette · Rating 2 out of 5]

I applaud women for paving the path for next generations’ women to be independent and to follow their dreams and interests, not to be limited to “women’s professions” as it was called back then. However, the need to be proving this or that by stating mostly dry facts is not an engaging read.

The cover of the book is very attractive, suggesting a lot of humor, but the book is nothing like the cover.

[Ellen Whyte · Rating 5 out of 5]

Ladies of the Ticker by George Robb is everything I hoped it would be, and better.

I wanted to read this because of Oscar Wilde.
“Why can't these American women stay in their own country? They are always telling us that it is the paradise for women.”
“It is. That is the reason why, like Eve, they are so excessively anxious to get out of it.”
Oscar Wilde, The Picture of Dorian Gray

I know a little about British history, mostly from 19th century novels, and so I was curious about US history. Well, Ladies of the Ticker certainly delivered!

Superbly researched, it sets the scene by explaining the evolution of law affecting women’s rights in and out of marriage from the early 1800s to the early 1900s. It then moves on to detailing research from various excellent sources, pulling together threads so that the reader can really delve into what it was like for American women who wanted to become bankers, brokers, and speculators in those times.

Once you’re set, Robb tells the colourful stories of famous and forgotten women who were huge news in their day.

I adored the story of the Ladies Deposit Company run by con artist Sarah Howe, who tapped into the hate campaign run by the media of the day (and fanned furiously by male financiers!) and offered a ‘safe haven’ for women who wanted to invest. However, it was a Ponzi scheme.

I also loved the battle waged by Victoria Woodhull, women’s rights activist, who was the target of one of the nastiest vilification programmes I’ve ever heard of.

Then there’s Hetty Green, Wall Street tycoon, whose clever trading and endless energy made her a target for the trolls too.

What really made this book for me is the way Robb stands back and details elements of economic and cultural history while at the same time infusing his stories with life and character. I feel like I know the wicked Sarah Howe, frustrated brave Victoria Woodhull and the queen bee Hetty Green.

I have just one question: why isn’t this book the talk of the Net? It’s a must read for psychologists, activists and anyone interested in people and culture, especially understanding how discrimination works. It would also make a brilliant documentary series, too. I can see Mary Beard doing the job well and I bet Terry Jones would jump at it.

Really, you have got to read this book!

I received this book via NetGallery from the publisher and am reviewing voluntarily.

[Tiffany · Rating 3 out of 5]

A well written, well-researched examination of how women have been viewed in the financial echelon of society. I felt Robb touched on an aspect of history that is often woefully neglected with skill and insight. One I will be recommending to friends. I thank NetGalley and the publisher for the opportunity to get an e-book Arc.

[Debbie · Rating 5 out of 5]

"Ladies of the Ticker" is a history of women involved in the American stock market from around the 1880s to 1920s. The author started by describing the laws (in England and America) that made it difficult for women to control and invest their own money and the changes that came about in the late 1800s that allowed more women to invest in stocks and bonds.

The rest of the book focused "the Gilded Age to the Great Depression." He started by describing how novels, magazines, financial manuals, and similar sources portrayed the stock market and women who invested in bonds or stocks. He then looked at records from two stock brokers showing what women actually invested their money in, their investment habits, and how they acted in their correspondence with the stock broker. He acknowledged that women didn't all behave the same way, yet there were certain general trends. He contrasted women's investment behavior to the records of men's investments and to how popular culture portrayed women investors.

The author also talked about fraud (involving banks, stocks, and bonds) that was directed at women or that was done by women. He looked at the women's rights movement and how they promoted financial education and empowerment for women. He talked about early women brokers, capitalists, and financiers. Some parts read like biographies. We're told about several women who tried to set up as a stock brokers, what the press and such said about the woman, what she said about her past, and what we know about what happened to her. We also learned details about several women who carried out sensational financial frauds.

This book had an academic tone. As in, I felt like the topic had been carefully researched and a balanced view presented. As a woman who is interested in this time period and who invests in stocks, I found it very interesting. Overall, I'd recommend this book.

I received an ebook review copy of this book from the publisher through NetGalley.

[Michelle · Rating 3 out of 5]

Since Occupy Wall Street has faded from our headlines and rarely do we mention the 99 vs the 1 percent, it was surprising to me how I had never noticed the role that the stock market and women’s role in investing had made in my life. Coming from a Conservative turned Independant background, I knew that I had always been suspicious of self made millionaires of the stock market. I always pictured them as men in ties with oily hair and too bright teeth. Men who gargle with Red Bull and shout into phones all day.

I suppose I never really thought about why the image in my head was always of men doing the job. Reading through this book “Ladies of the Ticker” I was brought up short by how much the past still affected the present and how we view gender roles in our stereotypes. It was very entertaining to see the women who busted those stereotypes but more enjoyable were the women who used the stereotypes against society.

This book is a bit heavy on the details and I would have enjoyed more human interest stories to balance out the straight facts. This would have made it longer and it would have felt more complete to me. As it is I feel as though there is more to learn and yet I am not sure of what direction to take. I would recommend this book to those who enjoy nonfiction and have an interest in women’s history.

*This eBook was provided by NetGalley and University of Illinois Press in exchange for honest feedback*

[BMR, LCSW · Rating 3 out of 5]

I got an ADC from Netgalley for review.

What sounded like an interesting tale of successful women turned out to be a series of stories about women who were successful for a brief time before either the law or jealous men caused a reversal of fortunes. The most interesting sounding woman got less than a paragraph: Mary Ellen Pleasant. She was the only Black woman mentioned in the book, and they neglected to mention that for a large part of her life she passed as White. No other women of color were mentioned. It's hard to believe there were NO other ethnic minorities who successfully invested in, or brokered on, the stock markets. It's easier to believe there was not enough evidence to present them, but the author could have at least mentioned the efforts made to look for them.

Mostly, it's the old story of women either being too good for the cesspool of Wall Street, or women of "disreputable character" being too good ON Wall Street. The word "unsexed" kept being used. I thought it meant not having sex, but it really means having perceived femininity removed from the women's identity due to being skilled at perceived "male" tasks. It was the only way for some men to accept a woman being good with bookkeeping and maintaining her own financial affairs. She couldn't possibly be feminine at the same time. As if only men can do well at the stock markets.

[Mandy · Rating 5 out of 5]

I thought at first that this was going to be quite a dry academic text but in fact it’s a lively and accessible exploration of a hitherto largely ignored area of social history – the relationship of women to finance, in this case in America and over the period from the gilded Age to the Great Depression. In this thoroughly researched and well-written account, we discover that far from merely being stuck at home, powerless and ignorant, many women did in fact play an active role in financial markets, becoming adept at banking, the stock market, investment, speculation and even in some cases financial fraud. They ventured out into the cut and thrust of a largely male domain and proved themselves equal at making money. Capitalism, it turns out, doesn’t have to be a male preserve, although even in our own times it pretty much still is. I particularly enjoyed discovering some of the characters who operated in this man’s world, and also seeing how they were portrayed in popular culture, form Henry James to weekly magazines. It’s a fascinating story, and one which I very much enjoyed reading.

[Michele Minor · Rating 4 out of 5]

This book is about women and their relationship to Wall Street from the Gilded Age to the Great Depression. It depicts the reality of women's relationship with finance during that time other than the stereotypes that we see in popular fiction at that time. There were women who did invest their money conservatively though the writer does describe a few women who invested in more riskier stocks. Not all of the women who invested their money were spinsters and widows as one might think but also married women invested their money. The stereotypes regarding women's relationship with money is also explored with the reality set in. There was discrimination against women in financial careers even during the time of equal employment opportunity. The writer also talks about the history of women working outside the home which we do see a push for women to stay in the home and be financially dependent on their husbands without affordable child care in this country that would enable more women to be able to work outside the home and not be financially dependent on their husbands. I received a copy of this book from NetGalley in exchange for a review.

[Haley · Rating 1 out of 5]

I understand the need for thorough research, but I find books that are ALL quotations extremely boring. Give me at least a paragraph or two at a time of your own thoughts. DNF.

[Arcelia Ramos · Rating 5 out of 5]

The book I would have liked to have read when I took my class of Women’s Studies back in college. The book will appeal to those who like to read about history and particularly women’s history. The book is not long so a lot is said in a few pages which I personally liked. A look at the history of women in finances is an interesting subject and I am sure college professors in women’s studies shall take more than a passing look at this book. Some pictures and illustrations are shown throughout the book; I would have liked to have seen more of these pictures; particularly because today’s audiences are very visual so they have come to expect that.

[Andréa]

Note: I received a digital review copy of this book from the publisher through NetGalley.

[Mills College Library]

332.64273 R631 2017

[Jeni · Rating 3 out of 5]

I usually go for fictional novels, but this book interested me immensely. Women in what we have previously been told is a man's work Ladies of the Ticker is filled with women making money, not just spending it and staying home.
A fantastically researched and well written book that reads as much like an adventure story as a history book. The women and their stories jump off the page with their vibrancy and their tenacity.
Filled with quotes and anecdotes the book is a great read about a lesser known history.
Grab this book for an informative journey into the financial world and see the women who shook it up.

Thank you to NetGalley and the publisher for the advanced copy.