Evening star. [volume] (Washington, D.C.) 1854-1972, 1882-05-17
THE STOCK EXCHANGE.
Scv FOzk's Place Of Financial Per.
tUrssatiDn.
THE BUILDING AND TIE MassER OF IT'S Use.

Scw fOrk's Place OF Financial Per.
tur0atsOAls
THE BUILDING AND THE MAyyER OF IT'S USE
The New York correspondent of the Boston
Herald writes: The New York Stock Exchange
has very recently enlarged its building and spent
$500, 900 in making it the most ornate structure
except. perhaps the gigantic D. O. Mills build
in5 opposite, in the financial quarter Tie Ex-
change is convenient rather than handsome in
shape. 1t has the shape Of long-sternmed T.
the stem being the narrow house on Wall street,
ana the cross-pece being the board room and
other apartments running the length of the block
from Broad street to New street. By the
purchase of a strip of land straight across the
block behind the original structure. year ago.
TINS cToss-pece has been thickened and the
members have gained more room lust where
they needed it the most. The main front on
BrGai street has been at the same time entirely
renewed and is now most astonishing con-
giomerati0n of architectural and ornamental
devices consistent only I'm being all Of white
marble and all covered with carving. Before
these changes were made, the Stock Exchange
has been the scene of transactions whose mag
nitude was only exceeded by the Stock
exchange of London; but now it Is be-
Eeved that, while in this respect it vet ranks
second. it has become the first estab-
iishAent in the world in point of the complete
hess OF the facilities it possesses for the pursuit
OF its business. The first floor OF the Wall
street stem is merely passage-way. The first
il0or OF the croaspiece Is in four subdivisions:
first, the grand entrance guarded by uniformed
roTters and messengers. and beautitied with col
ored marbles, hard wood, thing and fresco work
Next IS tine long room, the loafng quarters
FOR members and Subscribers, and opposite the
members room, in which members only are
admitted. OF the two, the members room is
the grandest. 1t has a marble floor, gayly
coi0red ceiling, an enormous open fireplace, q
great mantei, bearing brOnZeS and bric-a-brac..
and luxurious. leather-eovered, padded lounges
and chairs, with carved legs, arms and backs.
These two loafing rooms serve as a retreat from
the hustle and din OF the board room. as the
market place ia called.
THE BOARD ROOM
Is 200 feet In length. with width Of 60 or Is
feet. The floor is borlered by railing on all
sides. and on the plain pine boards. plain and
of pine because anything else under the con-
slant rush of feet would be too slippery none
but members are allowed. There is q break in
the railing only where the rostrum protrudes
from the wall to the market floor. On this
rostrum, behind the great desk, sits all day
long either Chairman Mitchell or Vice Chair
man Aleck Henriques, ready at any instant to
settle dispute between brokers or to announce
the failure or death of member. Outside the
privilege may talk with members on the floor
A gallery projects On all sides of the room
overhead. wherein anybody, who behaves
himself may go and remain az long as the EX-
Change is open. Above all is the rich ceiling,
panelied and fEescOed mainly in dark blue and
gold. Apparently. next to the richness of the
quarters and the comfort Of the members the
prevailing idea of the governors In improving
the enlarged Exchange has been to lessen the
noise, for which the establishment. like that Of
nxl4on to - Ii
suiiieiently accustomed to the babel of the mar
ket 1t used to be possible to distinguish be-
tween the cries Of the brokers transacting their
sales and the shouting OF messengers. porters
and subscribers calling to one another and to
the brokers' This large fraction of the original
volume OF disorder has been recently obviated
by modern devices, mainly original with this
Exchange. On the south side of the board
room there now sits youth before a table
through the top OF which protrude
MANY SPEAKING TUBES.
There is one tube for each of the numerous
doors from the sides into the space beyond the
rail. Each broker has number, and if a sub
ecriber or other person wishes to see a broker
while he is on the floor, messenger calls for
that broker by number. if he knows It, or by
name if not, through the handest tube The
youth at the table has beside him an index to
the number of each broker, and Instantly touches
square foot of the huge blackboard in front of
the gallery and displays the number Of the man
called fer. The amount of lung and throat
wear and tear and the extent Of con-
fusion that this remedies ia seen at once in
the change it has produced. Another
and almost equally advantageous change is
that in the method Of delivering letters and tel
eerams. Formerly the messengers charged with
the delivery OF missives put them in their
pockets and, going upon the floor, fought.
pushed and scrambled through the tangie OF
men, shouting the names of the brokers they
wanted at the top of their shrill youthful voices
Finally, when tired and discouraged they gave
up the search, they would join the never thin
ming group at the feet OF the crer. VINO used to
stand on the rail near the New street door, yell
ing with the noise of a double bass saxhOrn any
name that anybody asked him to. Now, if a tel
esran comes to broker who is In the habit of
receiving kilograms 1t is put in one of the.enve-
iOpes he provides for the purpose. On which is
printed in big and snowy characters his
NUMBER IN THE EXCHANGE.
II the telegram is for one who has not fur
nished such envelopes, his number IL stamped
On an ordinary envelope, and in either case the
messenger takes 1t, and, holding it at arms
length above his head, works his way in and out
among the brokers until the number on the en-
velope is seen by the man to whom it is al
dressed. PROFESSIONALLY, the next reform will
oe tS W TIC CfOWuluy Oh the ROOF. gOOuV
share of which Is unayOidably the work of the
messengers and the reporters as the telegraph
operators are called These are mainly the
young men who gather and send out the
quotations which the sO-calied ''tickers'' give
out in the hotels. clubs barrooms, and Offices all
over town. In the center Of the board room
floor there Is q row Of short posts, each repre-
senting conspicuous stock. There are many
other posts on the south side of the ROOM under
the galleries; representing less prominent secur-
tiles. These posts bear on cards the names Of
the stocks they represent, and under these
cards are bulletins wherein the members record
the sales and prices Of their transactions. The
reporters gather these figures constantly and
telegraph them from the sixteen Instruments in
their quarters on the door. The head reporter,
Chaplain Beecher," vino has charge of the bond
quotations, is hOaOred with place on the ros-
trum.
The membership Of the Exchange is now lim-
tied TO the present number. l, l00 and the price
OF seat is to day S25,0C0. Membership can
only be had by the purchase of seat of a retir-
ing or deceased member, aud then only after
the purchaser has successfully passed a search
ing examination upon his financial standing aud
reputation. and has paid the initiation fee of
81. 600. After the panic Of 1873 and up to 1877.
while the financial depression remained general.
seats in the Exchange sold as low as So 600, but
in hot 10, Loo, lI,-a ti,x1