The evening times. [volume] (Washington, D.C.) 1895-1902, 1901-04-26
STOCK EXCHANGE TO MOVE
New York Brokers in Their Old
Home for the Last Time


Produce Exchange 20 he Occupied
NcanvvhiIe-To Move Tomorrow.
NEW YORK April 2G.-Today is the
brokers last day in the historic old home
Of the New York Stock Exchange The
bowling dervishcs that have been swap
ping great fortunes many times a day II
the pit during the past two or three
weeks are to take \ holiday tomorrow
and when they begin business on Mon
day it will be II temporary quarters for
a year. While the new and finest-in-the-
world palace of the exchange IS being
built on the old site their home viii be
in one end Of the New York Produce EZ-
change
The old exchange goes out in a blaze OF
glory, so to speak. for there have never
been such Curious and good times on New
York's boUrse as have blessed it within
the past three months
The past week saw the record broken
in the number Of shares sold and in the
price Of a Stock Exchange seat There
are men sangJIine enough to think that
before the end of the year a seat on the
exchange VIII sell for 500 600. and Henry
Clews the historian Of the Street. said
not long ago that before the present boom
is over Americans will see S.o00,0 900 shares
of stock, representing S209,O00000 of value,
change hands in = single day
The present Sick Exchange has been
the barometer Of the nations progress
for more than twenty years, while on or
ganizatiOn Of brokers has existed for a
century Undoubtedly. however. the pc
rioG between 1910. when the Stock Ex-
| change entered the present building i'll
Eroad Street, and this year win he called
the Golden Age Of American finance.
1t will be recalled that III the last year
Of the old Exchange. the first billion dol
lar trust in the history Of the world was
contaminated by J. Pierpont Morgan;
that, in the latter years of the nineteenth
century, the tendency toward centraliza-
ton of capital became a passion on the
part of the money kings, and. who VIII
say, an Inevitable thing in the evolution
Of industry in this country
The present building, whose walls have
| echoed the voices OF so many makers and
unmakers of millions, viii be Ieveled
within another month Already heavy
/ 500 folding surrounds it, and, next week,
a busy derrick engine viii begin to low
| er the displaced granite to the ground
! When the great men in Wall Street de-
! cided to build the finest bourse in the
world they were confronted By a problem
/ Where could they go during the time OF
the building OF the new home?
! There could be no stOppage of the IRE
mendous transactions on change. The
! New York Stock Exchange is not ali u
I gambling Institution, as many suppose
Without il TIE actual exchange and pur-
/ chase OF securities would come to 4 halt,
and the negotiations OF the HnancIsrS
would become excessively complicated
/ and bothersome
/ The governors naturally turned To the
/ huge Produce Exchange, which has one
( of the greatest board rooms in existence.
I II they could get the Produce Exchange
( brokers TO give up- temporarily, part OF
I the TREMENDOUS moor rooms, every thing
{ would lie well
/ The arrangement was accomplished
without much trouble. for the buIlS and
! bears and The broJsars in o3Dosinl lines
/ OF commodities are personally clannISh-
/ They are good fellows Inc PrOGUce
/ Exchange brokers readily gave way 20
/ their richer neighbors in Broad Street
About a third OF the Produce Exchange
floor has been parJitiOned OF in the south
emf. and there the STOCK Exchange VIII
conduct its tTa nsac tionS during the next
{ year. No such bedlsm, when the two *
changes come together, viii exist, for
the partition that separates them viii be
: a bout twelve feet hIgE- Above the bar
I Tier Is fifty feet OF space, where the
cIanor OF the men who sell grain and the
men who sell stocks VIII clash On the
Produce Exchange side seats are worth
500; on the other side Of the fence seats
are selling for Slg,991-
The removal viii involve many novel
arrangements one Of its complexities
viii BE- the arrangement OF the electric
ticker system that sends out stock quo
tdtiOnS TO New York and the rest Of the
country To Install this system in q new
home VIII REQ ere great electrical skill,
particularly since A good part Of the work
must be done between Saturday noon and
Monday morning at - o'clock
The homeless brokers, the men Of the
curb. are also figuring out just where
they Will do business. These noInads Of
tine Street ha e peTSiStently held to the
asphalt on Broad Street, in front OF the
Mills Building, for several years They
can be seen there. winter and summer, in
snow, rain. and SHINE. and they are the
hardest JOlIiest set Of men alive They
have ObstInately refused to get under Gov
eT j capitalist once offered to construct
part Of the district They Indignantly re
FUSED II is their game 70 be somewhere
in the neighbOrhOOd of the Stock Elk
change, and when the removal IS made,
/ IN all probability they VIII iufeSJ, as II
! were. some area near the Produce Ex-
( change Building.
/ The new Stock Exchange Building viii
be an ornament TO the Wall Street dis
trict The governors hoped TO have It
1 ready for occupancy about Nay /, 1892
/ BY acquiring the Western Union Build
/ an excellent frontage on Broad Street has
1 been secured The frontage on Wall
/ Street Will merely afford an entrance.
/ The facade on Broad Street VIII be elab-
/ orate and imposing It viii have a Cor
inJhian pOTJicO- The gable viii be sup
ported by six handsome Corinthisa col
umnS with elaborate capitals. The pedi-