New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-12-24
CONSOLIDATED EXCHANGE.
SUCCESSFUL CAREER OF ONE OF THE

years ago. Its first title having been the New
York Mining Stock Exchange. During the
month of September. 1875, a call for a meeting
was presented to a number of men, in which 1t
was represented that the mining industries OF
the country had assumed such large proportions
that much Eastern capital was seeking invest
ment through the San Francisco Exchange, and
II was believed that the time was ripe for a
Mining Exchange in New-York. During the lat
ter part Of the same month a meeting was held
at No. 60 Broadway. and the "New-Y York Min
ing Stock Exchange was started. The Ex-
change opened for business on November l. 1875,
at No. "a Plne-st, with the following roll of Of
hcers: John Stanton jr.. president; Joseph E.
Gay, treasurer; j. Wyman Morris, secretary. At
that time the total membership was twenty five,
but the organization began to prosper mme-
diately, and its growth was constant. From the
removed excessively to No. 30 Pine-st to No.
Is Broad-st., to the BOND Room" Of the New
York Stock Exchange, and to No. 16 Newest.
until on July 20. 1877. 1t returned to No GO
broadway. the occasion of admitting into it's
q own fold the members Of the American Mining
and Stock Exchange. thus absorbing a rival
ganiZation which had been in existence about IF
teen months. The fitness Of this exchange to
survive ls eVinced by Its successive absorption
OF the rival just named and Of four other COM
peting organizations. viz, the National Petro-
Ieum Exchange. the Miscellaneous Security
Board the American Mining Board and the
New-York Petroleum Exchange and Stock Board
the result Of such absorptons being the amend
ed title Of the Consolidated Stock and Petroleum
Exchange Of New-York with a roll of 24O3
members Until the year 1883 the business of
the Exchange was almost wholly confined to
dealings in mining stock, but about that time
the departments Of petroleum and miscellaneous
securities were added to its business Both
showed remarkable development
Early in the year 1885 the membership NJ the
Exchange had grown until it reached 24O3
Qarger in point Of members than any exchange
in the United States except the NewYork
Produce Exchanged and a general demand was
made by the members upon the management
looking to the establishment of an additional
department to the business of the Exchange
that of dealing in active railroad stocks As
nearly four hundred members Of the Exchange
were members of the New-York Stock Ex-
change, negotiations opened with the
proper authorities Of that organization looking
TO an arrangement by which the speculative
business in railroad stocks might be divided
Committees were appointed. who, from time to
time. met but only to disagree. and finally it
was determined to reach out for all business in
railroad stocks that could be got.
The new building which is occupied by the Ex-
change is located on the east side Of Broadway.
and extends through to Newest 1t measures
9011 feet on Broadway, 1924 feet on Exchange
Place. and ST. feet on Newest. 1t consists Of a
basement fifteen feet high opening upon level
with the sidewalk at the corner Of Exchange
Place and Newest. Of a main story 36 feet high
for the Grand Board Room. with a mezzanne or
intermediate story In a portion Of this room,
while above are four stories Of IL feet each. The
main floor is set about 90 feet above Broadway,
and the entire building rises 90 feet above
Broadway. with a height to the extreme top of
tower at the corner of Broadway and Ex-
change Place OF AZ feet.
The exterior Is built Of brick. with stone prtn-
cipaly in the lower portion. and the architecture
Is in style Romanesque very freely treated.
The entrances exceedingly spacious. En-
trance from Newest is by a lofty arch eighteen
feet in opening and the vestibue on that side Is
fine In effect On Broadway there two en-
frances each fifteen feet wide; one for the gen.
eral public having business with the Exchange
and for tenants of the upper stories, and the
other. also fifteen feet wide given solely to the
use of members Of the Exchange. The main floor
Of the entire structure is open to the business of
the Board In nearly uninterrupted space as
the supports of the upper part of the structure
will permit There is q clear floor space Of fully
ten thousand square feet for the transaction Of
business.
In the mezzanine story. approached by four
etaircases and three elevators. there are the
Offices Of the president. treasurer and secretary,
the meeting room for directors. committee
rooms and large parlor for members besides
q room exclusively for smokers.
In the basement or under the sidewalk on
Broadway is a very large toilet room for mem
4. Iiait int liz