New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-04-17
BROKERS' IN A NEW HOME.
CONSOLIDATED EXCHANGE QUARTERS.
on AID STOCK MEN TAKE POSSESSION OF

OH AND STOCK MEN TAKE POSSESSION OF
lire n,sDs,.am BROADWAY BUILDING
Yesterday vas a great day for the members Of the
Consolidated stock and Petroleum Exchange, and they
felt almost proud they did when tho corner
stone of the big building at Broadway Exchange place
and Newest. was laid on september 8, 1857 The
occasion the occupation Of the spacious board
room in the new building for business, and while the
officers had no formal ceremonies TO conduct they
managed TO make tho transfer Of the members from
their crampcd quarters the basement OF No 65 BROAD
way the talk Of Wall Street The afternoon news
papers out with Stories in which the officers and
leading directors figured handsome ard pccticai
men, and the reporters the morning papers all sworo
that they would preserve these characteristics In their
descriptions. but, tho morning newspaper mcn had
an advantage IN boing able to record the fact that
President Charles George Wilson didn't deliver the
speech no had expected to- That was the only draw
back to con plce Of the change OF quarters
The new building Of the Exchange IS still incom-
plete and tho managers win have formal opening,
with ceremonies and refreshments, probably some
time In May, when the public will have more finished
work TO admire But, temporary space In the largo
board room rallied of for tho accommoda
ton of visitors, who focked Into 1t during
business hours. Before 10 O'Clock the board room
was well, filed with members President Wilson
went up into tho handsome rosrum Of oolorcd marble
accompanied by Chairman Augustus ". Peters, Vice
President Thomas Lansdel Watson Jerome i. Sadier,
president of the Building Association. A. S. Ferris
vice president Of the association and W. H. Lewis
assistant secretary Of the Exchange The brokers were
scattered various groups around the room but whom
Chairman Peters, with unusual dignity beld up thc
gong that to sound the signal for business there
was . rush to crowd in front of the rostrum Presl-
dent Wilson tapp.d the gong and dozen rousng cheers
given by the men who were to begin their hIsI
days business in their new homo When the boistcr-
Gus noise subsidized President Wilson appeared ready 10
l,.sk fc rrfn
not Immediately forthcoming and slTlll yell OF
business offer By broker standing at the ST. Paul
post reminded throng Of tho duties of the day and
there a general scattering OF members winch put
an end to any further proceedings that were not
strictly regular President Wilson'S speech was teise
enough TO merit printing even If it wasn't delivered
Here It Is: =
On account OF tho unfinished condition Of the building
no formal ceremonies will had in connection with the
opening. This Exchange has evenui history since s
inception in 1875 by might almost say hanaIu Oh
gentlemen, OF whom still remain with US Ii mas
advanced steadily until to-day IL stands second to none
Gentlemen is indeed suspicious occasion which brings
together to-day happy consummation OF great WORK
long ago commenced steadily urged ana at length
notwiths andng difficulties trurphanty accomplished
As home for future use we well, not better
provided any exchange in the city, As financial
enterprise sanguine hopes are about being real
ized will be the duty as well as the pleasure OF ne
Building oicaly report to you at the end
the ascal year. the 31st day OF May
1855 all matters Of detail in connection with the |
building but may pardonei anticipate little
tell you what feel certain you are anxious 70 Know
That the and construction Of the building has ana
will cost when completed s400 900 that all but few OF
the Offices rented with fair prospect OF renting
the remaining before the first day OF Mays that the
gross rentals will suffice to pay the ground rent taxes
running expenses and leave surplus OF more than Sloooo
70 be applied TO sinking fund reimburse us for the
money expended erection and construction OF the
building.
The pleasure Of going in detail into the history OF
the Exchange for another time. 1t would be
out OF place to you this time and In The midst OF
such scene this Let congratulate you upon the
you have hitherto achieved while in the fresh
intrepid vIgor Of youth and ask what may not
be your future when such Is your beginning
After President Wilson came down from the rostrnm
he Kept busy receiving congratulations for his Wig
much the progress of the Exchange. and Architect
T. D. Lindsey was coplimened on the success OF MS
Of the interior of the structure President Frank
Tack put big red rose in his and it tah Sa
usual modosty retired to his daily duties promptly
historian Of the Exchange plunged himself deep into
work statistics and nomenclature Wherever any
Of tho new building, either in the Governing Com
itee in the Building Association; were seen. they
were warmly thanked for their work Shortly after
the opening of the Exchange. Gordon. tho florist Of
wallst sent biz lot Of plnhs for distribution among
done in railway stochs in the and
ions on booming market. Tho rise to SO cents,
after the smash Ia oil recalled the fact that on
The day the corner OF the building laid, there
vas booming market up to rs cenis--thc first good
bulge following the depression of last summer.
The building of the Consolidated Exchange has
'een described In The TrIbnnc" The board,Ioom
byzantine columns Of chocolate granite with deliberately
arved capitals. rise long graceful spans TO the 0blong
yght in tho centre OF tho ceiling Above the galleries
which extend around the room. smaller columns Of
similar design break these spaces; The rostrum Is on
he Exchange Place SIDE and the big blackboard where
he al Exchange | Z
cross tho Ncw-st. end. The main staircase to the
;allorlcs rises opposite to the rostrum. The oil Dit
at the Broadway end Of the room.
The gong which used 10 call the Consolidated
brokers' TO order in their board that
which belonged to Frances Tavern. at broad and
'osrl ss., where General Washington and HIS staff
lined after tie evacuation of New-YOrk City by the |
British IN November 1888. II afterwsrd used at
he old Washington Hotel in Battery place, and has
zen presented to the Exchange by jeremiah T. Smith,
he builder OF The new building, who bought it at
motion In 1880.