- Index Wealth Management

01
The Global Indices
Invented in New York City
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06
INVENTED IN NEW YORK CITY.
At Index Wealth Management we
like to do things differently.
We’ve compiled a list of inventions from NYC,
everyday items that you probably don’t give
a second thought.
If you’d like your finances managed by
professionals who are expert at viewing
things beyond the usual perspective,
get in touch.
01.
Kodak camera
1884, George Eastman developed such an advance in
photography, it would revolutionise the practice all
together; the roll film was born. Gone were the days
where photographers would have to coat glass plates
with liquid emulsion. Realising the significance of his
invention, Eastman developed the first simple push
button camera. He would go on to label his new
brand, ‘Kodak,’ complete with the motto, “You press
the button, we do the rest.”
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02.
03
CRISPS
Fed up with a customer complaint that his chips
were too thick, George Crum, the head chef of
Moon’s Lake House in New York, sliced potatoes
really thin, and then fried them to a crisp. He then
overloaded them with salt and the potato chip was
born in 1853.
Toilet Paper
In 1857, Joseph C. Gayetty produced the first
packaged toilet paper. He marketed the product as
‘Gayetty’s Medicated Paper for the water-closet.’
Gayetty sold the paper out of his shop in New York,
each sheet watermarked with his name.
The paper was sold at the relatively expensive
price for the time, $1 for a thousand sheets. An
advertisment in the New York Times stated that,
“All persons who neglect to make systematic use of
Gayetty’s Medicated Paper for the water-closet are
doing themselves injustice.”
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04
The Tuxedo
Contrary to claims that the first tuxedo was
designed and tailored on Saville Row for
the Prince of Wales, it is said that a young
tobacco magnate, named Pierre Lorillard IV,
first wore the modern dinner jacket in 1886.
He donned the tail-less jacket and bow tie
whilst attending a ball at his very own ‘Tuxedo
Club and Resort’ in New York. The fashion
caught on and Pierre named the dress after
the club.
05.
Teddy Bear
06
Developed by New York toymaker Morris Michtom in
the early 20th century, the name Teddy Bear comes
from former President, Theodore “Teddy” Roosevelt
and originates from an incident on a bear-hunting
trip in Mississippi. Roosevelt refused to shoot a
cornered, clubbed and tied American black bear,
deeming it to be unsportsmanlike.
The ‘I Love New York’ logo was the central
theme of an advertising campaign developed
in the mid-1970s to promote tourism in New
York City. The logo, designed by Milton Glaser,
was inspired by a radio campaign promoting
Montreal, Canada with the tagline, “Montreal,
the city with a heart.” The logo has become
a pop-culture icon, inspiring imitations from
cities around the world. Glaser’s original sketch
and presentation boards were donated to the
Museum of Modern Art, New York.
The episode became the topic of a political cartoon.
Morris Michtom saw the drawing of Roosevelt and
the bear and was inspired to create a new toy. He
created a stuffed bear cub and put it in his shop
window with a sign that read “Teddy’s bear.”
The toys were an immediate success.
I Love NY Logo
“I did the bloody thing in 1975 and I thought it would
last a couple of months, as a promotion and disappear.”
Milton Glaser
07.
COMMERCIAL CHRISTMAS
The Yale lock
Christmas itself obviously predates New York; the
date on which the solstice was originally celebrated,
predates written records. But Christmas as a
commercial institution, complete with gift giving,
was invented in New York. During the 1800s, New
York was a Dutch colonial town known as New
Amsterdam. Settlers revived the old Dutch folk
tradition of Sinterklaas and exchanged gifts.
In 1848, New York resident inventor Linus Yale, Sr.
invented the modern pin-tumbler lock. Inspired by
the original 1840s lock, designed by his father, Linus
Yale Jr. invented and patented a smaller flat key with
serrated edges and pins of varying lengths within the
lock itself. The ‘Yale lock’ was smaller, sturdier and
more reliable and it is the same design that remains
in use today. Yale locks still play a major part in
today’s modern security systems.
New York merchants, quick to recognise the
commercial potential of Christmas, went all out
to promote the holiday. By 1830, the week before
Christmas had already become the busiest shopping
season of the year.
08.
09.
yellow cabs
Harry N. Allen founded the New York Taxicab
Company in 1907 with a fleet of 65 cars originally
painted red and green. Painting taxis yellow was
conceived in Chicago by John Hertz, who realised
it was the easiest colour to spot. Inspired by this,
Allen painted his cars yellow to match. By the 1920s,
the most popular manufacturer of taxicabs was
Checker Taxis, which manufactured all taxis in yellow.
Over the years, there have been many different
manufacturers of cabs in New York, but the iconic
colour has always remained the same. Though not
invented in New York, it is the city that made it a
widely recognised icon of popular culture.
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10.
Chop Suey
According to a colourful folklore tale, the personal
chefs of Chinese Ambassador Li Hongzhang invented
chop suey when he visited New York in 1896.
The dish was devised to satisfy both Chinese and
American palates.
Another version claims that Ambassador Li wandered
into a Chinese restaurant after closing hours.
Embarrassed that he had nothing left to offer the
Ambassador, the chef used scraps and leftovers to
create the new dish.
Chop suey was not created in China.
Though there are several other stories that attempt
to explain the origin of chop suey, one thing is
certain; chop suey was not created in China.
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