New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-12-24
THE PRODUCE EXCHANGE.
ONE OF THE LARGEST INSTITUTIONS OF
IT'S KIND IN THE wORLD-wHEAT
PRICES FOR THIRTY
THREE YEARS.

THREE YEARS.
| Few buildings in the lower part OF the city
have attracted more attention in the past than
the handsome, solid structure OF the New-forN
Produce Exchange Standing at the point where
Broadway begins. 1t commanded IN FORMER
years before the sky-scrapers became so numer-
ous the eye Of the homecoming Mariner ana
attracted the immediate notice OF ocean tray
| Oilers on their way up the Narrows. In COM
mon with The Tribune Building. the Brooklyn
Bridge and Trinity Church. 1t was accustomed
to call forth the admiration Of the stranger
| At the present time, In spite OF the numerous
towering buildings which have sprung up on
all sides the Produce Exchange remains one OF
| he notable architectural features OF the CITY
| OF heavy solid, massive construction and I'M
prcssive oItline it is destined to hold its own
| for many years 10 The architect anu
builders planned and buded better than they
| knew and looked clear beyond themselves into
the untold possibilities Of the future. or the
modern Renaissance in style, the general effect
| is imposing. and mparts the idea OF strength
| and pernanence. It's construction was begun on
May I. 1881. and 1t was finished three years
later in 1884. The foundations were secured
| by driving down 1900 New England pine and
spruce plies to solid bed
HUGE STRUCTURE.
| The building is hreproof throughout Granite,
| brick terra GOTTA and iron are piled above the
cornerstone bearing In lasting bronze the WORD
Equity" that was laid on June 6, 49, making
a structure 3O7 by $50 feet which. with the
tower and terrace. comprise 53,ao square feet
From the sidewalk to the roof the distance Is
ZIG feet and 10 the coping OF the tower 225
feet. So successful was the original building
that an annex was built to accommodate the
large number seeking offices for business IN con-
nection with the Exchange, the total NUMBER
now being four hundred. This addition is on
tho east side Of the main building. The original
cost of the main building. including land ana
furniture was S3,l7S,6i5. From any stand
point the Produce Exchange Is unsurpassed by
any structure Of It's kind in the world Inc
| floor OF the Exchange Is on the second moor,
covering a space 220x144 feet with skylights
| sixty feet high. This great arena-like room
affords possibilities for every conceivable de-
mand ~ the grain trade. Long tables hold
samples Of every kind of grain. and buyers
sellers commission men and export agents
gather around them each day and transact busi-
ness Of great volume. The total exports Of
breadstufrs for nine months only Of the present
wear ending September 20 were S2IS ,liJ.1lO.
and the total Of provisions includinE meat, hoe
and dairy products, was Sll' ]3i LOO n l+rBc
norton of this enormous export business Is
| transacted in the New-York Produce Exchange.
II will be readily appreciated that large n0or
| space Is essential for commercial operations OF
| this MAGNITUDE The main building required
! 70 coo 900 brick, Is miles Of iron Orders. IL,
miles OF columns. ~ acres Of flooring, 2,ooo
windows and 1000 doors. The purpose OF the
/ Exchange as expressed In its charter Is as fol-
lows: ITO inculcate just ard equitable principles
| in trade: to establish and maintain uniformity
in commercial usages; to acquire preserve ana
disseminate valuable business information to
adjust controversies and Observation-Disclosures be-
! tween persons engaged in business, and make
provision for the widows ana chlidren OF &C.
ceased members"
FTUCTUATING VALUES.
The membership Is limited to three thousand.
~ the time Of limiting the membership the
initiation fee was 81 800 but certificates Of
me mbershlp are transferable. and have been
sold as low as 1915 and up to $1,000 The Ex-
change IS authorized by its charter 20 own
propcrty 70 the extent Of $500O0O) The cor
poration Is governed by president, yce-pres-
dent treasurer and twelve directors, who to-
eether constitute the Board OF Managers
standing committee is appointed by tho pres-
dent with the approval Of the Board. for each
Of the trades 10 wt,ch al disputes arising In :,
may be referred for arbitration at a cost Of SO
20 sos to the losing party An assessment ~
$25 Is levied on each menh -rship. which goes
toward d.rro,frg all eyDepsc9 Of maintaining