New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-01-29

OF the building were going on for two years, ana
the various heirs. TO the number OF eight or ten
OF the two estates that owned the property, had
all to be consulted regarding the deal The pur-
chased building was erected in 1884 and its an
nual rental has been S34 900 The price paid by
the Exchange was $s25 900, and is generally
regarded as a plenty. The purchased building
has frontage Of All feet in Broad-st.. depth
of S7.3 feet and width in the rear Of 5O4 feet
EXTENSION TO THE NORTH
The purchase Of this building was supplement
ed last week by the purchase Of the property
fronting in Broad-st.. just to the north Of the
Exchange building. This property, which be-
longed to the Swan estate stands al No.
Broad-st. 1t is a siX-stOry structure OF no I'M
posing quality. Of which the Anglo-American
Telegraph Company occupies the ground Moor.
The other floors are for the most part occupied
by brokers. The tenants Of the building have
leases of various tenures. some Of them expiring
in 1901, but one runs into 1902, SO that it will
not be until that date. unless the holder Of the
lease is bought out that the Exchange will be
at liberty 10 make use Of the property as 1t sees
At The price paid, S425O00 is about the same
rate paid by the Exchange for the property 10
the south Of its present building
The present floor OF the Exchange is laid out In
the form OF a capital letter IT" the stem OF the
letter running clean through to Broad-st. and
the wings TO the north and the south behind the
two properties recently bought by the Exchange
For the benefit Of those who have never visited
the floor" It may be said that each stock has
its specified place and all members desiring TO
trade in that stock gather at the recognized
place which is indicated by the name OF the
stock displayed in large letters from a post or
rail. from which figures are shown TO indicate
the price at which the last shares OF that
stock sold were disposed Of The tremendous
rush OF business Of late. and the addition TO the
lists OF stocks not previously traded in to any
great extent, have made the floor OF the Elk
change exceedingly crowded. and often most
uncomfortable for the members who were pres
ent transact business.
There are now about eleven hundred and fifty
members Of the Exchange. and in dull times
there may not be more than one hundred or two
hundred on the floor at one time but In days
like those OF the last fortnight. when business
has been booming. when excitement runs high
and the volume OF business is enormous, there
are frequently many as five hundred or six
hundred members on the floor all rushing about
and shouting and waving their arms in a man
ner that seems TO the casual and uninitiated
spectator as hopelessy frantic and quite mean
ingless The daily attendance on the floor has
been increasing. so that the governors Of the
Exchange will doubtless take advantage OF the
earliest opportunity to provide additional floor
space. and to this end they have bought the
properties already described The plan now en-
tertaned by the governors Of the Exchange Is
simply to break through the walls Of the two
buildings TO the south and the north on the
same floor with the Exchange floor, and add
the space thus gained TO the floor as ii IS to-day
The "r" shaped floor Of to-day will thus be-
come square in shape. or nearly go, and the Ex
change Will gain the elbow room it has needed
so badly and so long.
NO FURTHER PURCHASES LIKELY.
Two buildings will then separate the Ex-
change Building from Wall-st-the Mortimer
Building at Wall-st. and Newest, and the Wilks
Building, at Wall-st and Broad-st-but cor
ridor runs from Wal-st between these two
buildings to the Exchange Building for the use
Of visitors. 1t is reported that the owners OF the
Wnks Building some time ago offered 20 sell the
structure TO the Exchange, but the offer was de-
clincd II is not thought that the Exchange Will