New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-04-30
OPENING OF THE NEW COTTON EXCHANGE.

ocn,,,,,, or THr FxERCIsFs-THE BUILDING.
1Tbo new Cotton Exchange Building will be formally
orened today. In addition to the members there
will be delegations from other EXCHANGES
AID other invited guests The members OF the Tx
change will assemble in the old building at 10 40 a.
m. and after valedictory address by eE-Preslden'
James +. Wenman. and the singing OF " Auiu lang
Syner accompanied by Gilmores Band tneS WIZ as
sembe at the square in front OF the buidng anu
to the new building. William V. hlng Will ac' "'
Grand marshal After gathering in the new Exchange
room Assistant Bishop Henry H. fotter VIII o"1i
nraver Then. after music by the band, Walter l.
Miller. chairman of the Building Committee, will pre-
sent the structure to the president and President Gun
per will formally acrept it with address He Will DC
followed by Mayor Grace, Mayor Low, Congressman
Hewitt and others. :,
1t is only few years ago that few men interested IN
the cotton trade sat in modest little room in Pearst
discussing how they could best lay solid 1ouhua'oh
for the future The cotton centre has always Teen III
the neighborhood of Hanover Square. The cotton
trade Immediately after the war; felt the necessity OIL
an organization and in 1868 Board of Brokers was
organized which made regulations for the sale ana De
livery of the commodity. 1t being organized on 700
narrow basis it had short life. A year iaier Tue
present organization begun on larger ana more
liberal scale, the first meeting being held IN July,
1870 at Delmonico's. On July 20 "a constitution was
adopted and 100 members applied for admission AT
800 each. In May, 1872 the seats were 5000, ana
now they IS, ZOO In 1877 the building at fearlst
Hanover Square and Soonest. was purchased LOT
$3.50
About three years ago triangular piece OF ground
bounded by Hanover Square William and Drawer SIS
was purchased at cost of 1882, 800. and the mem
bers voted to tear down the old building and erect
new one Six architects selected out of twenty
four applicants to prepare plans Ii was decided that
the cost OF the building should be limited TO S3OOoo0
Subsequently a plan agreed upon, and George b
Post was selected as the architect The length OF the
structure fronting Hanover Square is ~ feet on
Beaver-st 81 feet and William-st. i 10 feet Ihe
principal entrance is at William and Beaver sts The
building six stories high with additional parapet
story and over all a high mansard roof On the front
is large cone-shaped tower. The basement story Is
made of limestone white in color The upper portion
of the building is CT brick and decorated
with terra-cOtta ornaments. Everything Is tine, mas
sve in perfect symmetry and pleasing to the eye The
open court on the east and south sides affords good
ventilation and light each of the nineytwo oites,
nearly all of which have been rented on long term
leases Each Office is provided with telephone.
The Exchange room, which is large and finely orna-
mented is on the second floor, covering nearly the
whole superficial of that story. Elevators also
run from the bottom to the top of the building The
present officers of the Exchange as follows Sieg
fried Griner, president; Charles ID. Miller. vlce-pres-
ident Walter I. Miller, treasurer; William '. hng'
secretary; Edward r. Powers, superintendent 4.
r. Robertson. L. A. Fachir II. 7. Salter, Thomas
Scott, X NJ. Murchison X. Mcissner William Mohr,
James NJ. White jr.. X. Sedonburg Thomas NJ. Foote'
T. w. Williams Charles H. Small, John L. Maeaulay
and j. II. Hollis, managers.