New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-06-07
LAYING A CORNERSTONE.

Exchange Building, ,yO GsisrIay among % down
town merchants. especially among mem mem
Sers of the Produce. Cotton and Maritime tx
changes. Seldom has there been sucn ION The
pavenents near the site of the new Exchange thele
was surging mass of people and Sgl9 re- " OBJ
tanned were crowded. The stone was laid at the
northwest corner of the new building facing BOWL
SS s sc feet TIM R@a al nS and
$50 feet in Beaverst, running back 10 S,ou Ills
The foundations are already laid some OF the Wals
buiidinr is IN Flags displayed from h3 no .
tons housr-fronts and windows, and the par :; mn
OF the 9Sw fT IN hGs Across Bowl
Ing Green to the park was stretched io"e
n atiOnal coors. ,x. ~ Tho Ex-
chandn a.semSled in the Board of Managers room
and sent for President Parker lie was nan p
The rosirGm where rec me- linn with silver rowel
made by Tiffany u Co: at COSY Oh ~. go 90 Fnr
scIiption on il was as follows Iressh'eu ~ sod
resi II. Parker by few of his friends to be V gSeG
M the LAYING of the cornerstone OF the Nt
Produce Exchange June g. Isl j Al EIc Ja,VcA
needed by platoon of the First Precinct Police,
IN command of Sergeant Linden ana Ihe IN IN
Regiment Band. began the march from tn Inc
present Exchange through PeaTl-st.; under
command of Chief Marshal Charles d. Saen' Mi,
nineteen assistants lmnedia1ey a,,s Sullivan.
fLe orator of the day. When the head on INC i t
reached Broadst. il met by deegaon nr "l Ne
na ond tbc members of the Cotton and Maritime
Exchanges with Presidents Tannahl ana ElTetl
Beayer-st. and around Bowling Green TO the SITE
There President Parker, eX-Presidents W imam A.
GGie sd ATfh9alS Ds sfaTE Frnin Edsoa, I. H.
R ReeG. T. Join IL A. IL. Pool, A. s. jewell and
A. T. Orr. Collector BrobeItiaGGpH' A uG !.
man the Rev. DR.. Charles IL. Hail. OF Br0oNiS ~
the Rev DR.. Edward h. COe, of the CoIIegIiaatSS
Reformed Church, ami George ). Yates LheiilSh
took seats on inc pau
form The members and other invited guests were
seated on the temporary flooring OF 'he he" ouiiu-
The exercises were opened by the overture on 70
William Tell" by the "a Regiment b ann
Franklin Edison chairman of the committee, then
presented the site TO Mr.. Parker, saying that NE
irGstcd q? e ,diaee Gov would de- S Ss a mUi
growing interests represented III the Ilo -
auce Exchange but, in architectural design
and historical location, an appropriate hoheicn' ~
mark the birthplace of trade upon ms l'!aHu; "
tcmnle of commerce. worthy of this commercial me-
tropolis" Mr. Parker, in accepting the site lhano
lew remarks Prayer. was then ohered by the
Rev. DR. Coc after which the Produce Exchange
Glee Club sang America.
PRESIDENT PARKER's SPEECH.
Mr.. Parker then addressed the assembly. lie gave
brIcf history of the wonderful growth of the EX-
change in members, influence and resources. lie
referred to its growth from the organization OF me
Corn Exchange which met under an ow tha o "a.
York Commercial Association Ill 1861, ana tien tle
change Of the cooperate name in ASS 3ba af
lime there we're less than 1000
members lie spoke of the abOrs of the members TO
secure a building OF their own, when soon Docaine
TOO contracted for the business aud then descF9Su
the securing of a site and the beginning Ol the
new building. He continued:
When the Exchange is completed, would that There
msn be inscribed il letters iAa could be read by every
one who enters our harbOr: "Ihis Exchange numbers
1900 merchants; and its grand PURPOSE Is TO hG9cae
ns and equitable principles IN tr1de ana 70 aolu5l con
troverses among ite members; We nulhpeI I2-u"ff
5000 and vaue of our certificates oil membership
OnO.OUO The value OF the property OWntu ny
tins L. Exchange is about S2.OOOOOO. Almost all OF TIE
those from other seaboard cities amounting probably to
nearly per cent of the total exports OF the United
States loter than cotton directly or ndlieGt{ pass
through the hands of members OF this EXCHANGE.
Zach of The trades has rules regulating us thsaGtoS
aud they are 50 perfect that any person. aiough no.
familiar with the articles purchased may pe sure ta'
tive however for member fulfil his business engage
nents not disposed, lies IN the fact that he may be
& Ms. 1 and If in the opinion Of
the Board the charge is subsantiaed the defendant
inay be either cenSured, suspended OF anu rom
Impossible to give correct statement OF the volume Of
business, perhaps rough estimate wcald give the aV
daily transactions at not less than IN
value Under the right call gins about 100000
deposited i'll the last year to guarantee the luhl-
mont of future contracts.
A copper box fourteen inches square at the ends
and nearly two feet in length was then placed
H. the base under the cornerstone. Ii contalned,
among other things, copy of yesterdays TkIBU NE
tions of The Produce E1chdRge Bultetin, a full
set $3.50 of Exchange market blanks, a
full set of Morse's telegraph instruments,
a set of the plans and specifications of the new
building reports of the Produce, Cotton, Maritime
and Petroleum Exchanges and of the Chamber of
Commerce and a complete set of United states coins
for 1852. The cornerstone, triangular block OF
polished Quincy granite about twelve inches deep
and five feet long on the sides, weighing seven ana
a half TONS was then placed IN position, President
Parker assisted by the ex-preSidents Spreading the
ADDRESS OF Mr.. SULLIVAN.
President Parker then expressed his regret at the
absence, account OF Illness, OF the Hon W. NJ
Evaris who had been chosen TO deliver the oraton,
and introduced AlgernOn 3 Sullivan. MIR. Sullivan
spoke as follows:
Mr. PRESIDENT AND MERCHANTS OF THE CITY OF NEW
cornerstone, solid, square, level IMPLYING the sentnent
which underhes all true eonmerclai transactions, ~
the spendOr Of New YORK MONDAY sun mas lelt lis
ustre upon sympathiLing hands hands have crowned
n with coronet OF patriotic have made
music as moved 10 lS place; ana, as became the
business men OF Christian community the OF prayer
wns cIlcd upon to lead thoughts to lin
without whose blessing nothing IN this world prosers
an glad 10 this IN these days when many tmnk
Thai uueef has from the hearts Of the OF
those who settled Newiork the grand Old alth that
upon the true Cornerstone tGdi IV.s oIeveI u
pause And now, two o. three brief sentences winch
crowd upon me IN attempting u respond 10 inc great
courtesy Of the committee, can only yleidi cannot re-
tist yeldngtO the one ruling thought 90 not
about me merely walls OF stone This spot
10 peoplod with other images than those that strike
flags OF ali the nations IN the earth and nuy Tor com
erce the guardian OF tranquility and Intercourse be
trading merchant VINO Is buying and selling. but sec
the splendit images OF OF commerce OF
see everything that pes the spirit OF justice, the
spirlt OF Friendship the spirit that leads
n, the prhcpIes which are TO govern his
aud his exchanges just relations wh all the rest VI
the world TGat spirit Is here, Invisible put ielt It's
hand Is laid upon every and member of this Ex-
change and this cornerstone 10 All corestones 40
A. not 10 support sall but join two walls. see
per the spirit of aud OF hsTIaony between all
the exchanges and branches Of industry. ...,.o.
You have invited rs your guests the representatives
from all other Exchanges and industries Taey nat