New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1855-05-03
THE s1GRATION OF BUSINESS.

rev included by the Bowling Green, Whrtesai'
Ridge and sa,e-sts. This vicinity was occupied by
d.ellpg. bouses, and by traders, as the msrc.n'ae
community we're then called. The north side OF fesf-
H., between Broad and Whitehslss. was occuP'eo'
Of 20 early period, by several of theprncpa uaoen'
ard was for many years the main business 'ueo'.
Broad-st wss originally Known as " Inc Dnco' ou'
p 1859 II v~ dug out msking large drain ana ior
twelve or 4 urteen years II 60 renamed "hen II was
sIltd ND and DO trace left OF II upon the surface OF
Tia strset. Thus the business localities remained un-
q, after The Revolution, when sccessions being daily
made 70 the population Of the City, additional accom-
po6atiors for trtdesmen were required.
At sill later period tie vicinity OF Old slip be-
cane The msrt Of the mercantile community and it
was here tbst the impor and bbers Of tose days
transacted their business. Wism.st., from Maiden
sre 70 Fulton.st was occu lied by fancy and retail
sores Broadway, baiden-lsne, John, Beck nan
and other streets we're at this time filed with yelling
houses. With the increase Of the mercantile CON-
mpny the obbiog business began to creep up toward
Wsntt, the old fashioned Dutch houses being de-
molfhed TO give place % more convenient and roomy
structures for the odation Of merchants. In
lsol-2-3 and even before that time stores and dwell
irgs were built in Water st., Front-st Coffee House
Rip. and along the f sst River, but little business
DuriI the lapse Of 25 or 80 years, the commercial
ipteresis having mean0e greatly increased more ex-
tensive accommcd .tions were needed by the mer-
chsnts and innovations made upon streets that
had hitherto been occupied exclusively by dwell
ipes although it was deemed madness to build be-
yond certain pale.
The increase Of rents however, from year to year,
drove many merchants beyond the established pale,
and frt sh innovations were made upon Liberty, Ce-
6ar. Maiden lane John and other Streets and the
dwelling houses therein converted into stores, thus
carving the wholesale mercantile business further up
town In those days it considered great desid-
eraiun by the merchants 70 be located in tue vicinity
Of the hotels. The Pearls House, City Hotel, aud
other hotels, now known only in name, we're then In
tltir pa mest days and c0nstanfly filled with travel
ers mostly merchants from the country. Win the
pcrease Of the CITY ne hotels and houses Of accom-
mediation for travellers increased, and the immediate
p.iehbcrbood of each public house was deemed de-
tirable place of business by the City merchant The
erection Of the Howard Hotel, Franklin Hotel, and
other boues Of that csss drew business around them,
and as each successive house was erected further up
town, 60 business moved up. The Merchants Hotel
and others in Cortlandtst becoming favorito places
for country merchant drew business arouod them,
and low that street is almost entirely filed with
wholesale stores.
There berg, for many years, no hotels of note
above the Howard business confined TO the south
west portion of the City, and merchants, not deemlng
ii desi able to go beyond the pubiic-housss, made
themselves room by converting dwellings into stores
and driving the occupants further up town.
With the steady march of Improvement another
great step has been taken by the mercantile communi
ty and extensive npov atoms have been made in the
Third Ward, where the streets, which but az yestsr
day were filed with dwellings are nov fenced in by
lofty and magnificent warehouses Ths step cannot
be attributed entirely 10 the removal of the hotels up
town but the increased facilities by stes nboats, ca
mails and railroads on this eide of the City, among
ether Inducements, have had much to do with the
move. That portion Of Broadway lying 10 the Third
Ward IL now filed almost entirely by wholesale mer-
chants. The move has not been coudned entirely to
the Thrc Ward, for on the block in Chambers-st +,
betseen Broadway and Center-st., tho site of the
Manhattan Water Works, we now behold aros of
magnificent structures Some builders have even
gone further folos wing the hotels, for lofty
buildings design for wholesale stores opposite the
ST. Not oas Hotel and Collsmore House; yet these
will not probably be occupied by other than retail
merchants for years to come. halt VIII be
made In The Third Ward and probably no very ex-
fensive innovations VIII be made beyond that district
for sometime yet by the jobbers and importers.
During the past three years the appearance of the
Third Wa,d within the bounds of Broadway, Liberty,
Greenwich, and Duanests., has materially changed;
not only whole blocks of ricketty aud dilaqda'ed
buildings some Of which wCrs nearly q century old,
bat most valuable and substantial dwellings, having
been demolished, and their cites erected magnid-
cent roomy and costly structures, with every re-
cent Improvement designed for mercantile purposes.
The majority of the buildings within the limits above
mentioned are flushed with marble and brown-stOne
fronts, and have the appearance of palaces than
places OF business. Below Greenwich ct. msterial
change has taken pace-,he business transacted in
that locality being confined almost entirely to pro
duce dealers. In that vicinity however severalarge
brick bailtiDgs have, within year or tEo been
erected, and are now occupied by commission msr-
chants who formerly did business down town.
The fret move Of the mere sntile community 10 this
section was made about five six years ago. to Lib
tr;y, Dey end Courtandt-sts. The subsequent
widening Of Liberiy-st. offered eligible sites for
stores to the merchants which were seized upon with
tvidity. Almost as soon as the street had been laid
out the erection Of fine buildings therein was com.
menced, and the work hurried on to completion, aud
many Of them were filed with goods before the street
was fl ishtd.
Thetxsmple of the first mover was quickly followed
Ind many other merchants doing business in the 10 or
esrt Of the City, in obscure streets AMI paying heavy
ANTS, tetipg the advantage gained By their bro,hsr
nrcbsItp began 10 lock about. Lots in Murray,
Wren. Gran bars and other streets were purchased
st,ueshat moderate amounts, and as il by msgi
tie. roos cries therein were replaced with stately
- hoo, hrOf bar