Emil Schram

Emil Schram (November 23, 1893 – September 18, 1987) was the president of the New York Stock Exchange from 1941 to 1951. In the wake of the Great Depression, Schram helped restore confidence in investment and stocks. Before his appointment, Schram did not own any stocks and had never been a Wall Street trader, making him the first outsider to become president of the exchange in 155 years.

Early life Schram was born in Peru, Indiana, where he attended local schools through high-school. He was accepted into Harvard and Wharton, but couldn't afford tuition. Instead, he went to work in a timber and coal company with local offices. At age 21 he proved himself to be an effective farm manager, making investment decisions that dramatically increased the output of a local farm under the firms control., His chairmanship was short lived, however, because less than two years later he was offered the position that would define his career.

In 1941 the New York Stock Exchange was still feeling the effects of the Great Depression. Trade volume was very low, seats were sold cheaper than in previous decades, and the exchange had been the target of political attacks. A selection committee was formed to find a new president, and they selected Schram. Before his appointment, Schram did not own any stocks and had never been a Wall Street trader, making him the first outsider to become president of the exchange in 155 years. In his later life he remained active in civic organizations including the local council of the Boy Scouts of America and the U.S.O. and Schram later married Margaret Beauchamp.