1987: The Standard & Poor's 500-stock index closes above 300 for the first time, less than a year-and-a-half after breaking the 200 barrier. The index finishes the day at 301.16.

David M. Blitzer, chief investment strategist, Standard & Poor's Corp.

1857: Elisha Graves Otis installs the world's first safety elevator for passengers in the E.V. Haughwout and Co. store in New York City. The elevator comes with a safety brake that activates if the cable snaps, and it moves up and down at the astonishing speed of 40 feet per minute.

1720: The South Sea Bill, granting virtual monopoly powers to the South Sea Co., passes in the British House of Commons after six hours of fierce debate, during which the price of South Sea shares fluctuates from 270 to 400. The speculation in the stock, which drives the earliest bull market in equities, is in full swing — but it will end in a terrible crash in the fall.

John Carswell, The South Sea Bubble (The Cresset Press, London, 1960), pp. 122, 126.