The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-04-23
DEDICATION Of A
TEMPLE Of TRADE
New Building of New York
Stock Exchange.
INVOCATION BY DR.. DIX
The Ceremonies That Follow are Brief but In
prsssivt---an address by Mayor Low
Concludes Them---\ Description
of the Building.
of the Building.
(By the Associated Press }

New York, April 22-The members of
business today and devoted themselves
to the ceremonies incident to the dedica-
ton of their handsome new building.
These ceremonies were brief but impress
sive. After prayer by the Rev. DR.. Nor
gan Dix, of Trinity church. Ransom H.
Thomas, chairman of the Building Com
mittee, formally handed the new build
ing over to Donald Mckay, president of
the New York Stock Building Association,
who in turn formally presented it to
Rudolph Keppler, president of the Ex-
change for the use of the members. In
accepting the building, Mr.. Keppler said:
1T is hardly necessary here to allude
to the ever-increasing Importance and
growth of our institution; its purposes
are so closely interviewer with the very
blood of the many sided activities
and interests Of the people, both in the
business world and outside of it, that
the facilities afforded by the New York
Stock Exchange may well be called
public necessity"
An address by Mayor Low on behalf
o fthe citizens and invited guests fol-
lowed and then the members and their
guests, including many men prominent
in financial and business circles, were
show through the building. Among the
invited guests were the president and
secretary OF the Consolidated Exchange,
the New York Stock Exchange thus for
the first time recognizing that institution
The members Of the Consolidated EX-
change sent their we'll wishes with g
large floral piece containing five hundred
American Beauty roses The board
ROOM where the dedcatory ceremonies
were held was crowded long before the
hour set for the opening, and the guests
were entertained with music by bands
and orchestras. The brokerage offices in
the financial district were closed and
flags floated from flagstaffs in honor Of
the event.
The new building, which looks small
beside the sky-scrappers by which 1T is
surrounded, presents a striking appear
ance with its massive and beautifully
carved stone pillars and decorations. The
interior has been arranged looking to the
comfort in every way possible OF the
members. An impregnable vault has
been built for the safety of securities,
the heating, cooling and ventilating ar
engagements are perfect ana tne Doard
and other rooms are large, comfortable
and prettily decorated. The building,
which fronts on Broad street, extends
through to New street, with an opening
on Wall street as in the old building
In the construction of the building it was
found necessary to go forty-two feet be-
low the level of Broad street. In the
cellar OF the Exchange are the vaults Of
safe deposit companies and the plants
for the cooling and heating of the build
ing The members will be warmed i'll
winter by a constant flow of warm air
In summer the coolest spot in the city
outside of cold storage warehouse Will
be the Stock Exchange, which will be
kept at a low temperature.
The main board room in which the
trading is done is 144x109 feet and is 74A
feet to the ceiling. Into this will go
fresh air at the rate of 100000 cubic
feet a minute, while exhaust pipes will
draw off the foul air.
The Luncheon Club, secretaries offices
and other offices connected with the EX-
change are on the floors above The
members saw these for the first time to-
day, as the building committee saw to it
that no inspection of the building was
made by members before everything vas
ready today.