The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1903-04-22
Members Of New York Stock Ex-
change Make Holiday
TO Attend the Dedication of
Their New Building.
NOT BUILT FOR SHOW.
Comfort of Members Has Been
Especially Looked After
As Well as the Safety of Secur-
tiles on Deposit.

New ork. April 2Z.-The members of
the New York Stock Exchange aban-
don business today to devote them
selves to the ceremonies incident to the
dedication of their handsome new build
ing. is just two years since the work
of tearing down the old building to
make room for the new was commence
ed and during that time the members
have been accommodated at the Pro
duce Exchange. It was expected that
the work would be completed within a
year. but the difficulties were greater
than the architects and contractors had
counted on
The building which looks small beside
the Sky scrapers by which it is sur
rounded. presents a striking appearance
with its massive and beautifully carved
stone pillars and decorations. The in
terror has been arranged looking to the
comfort Of the members. An mpregna-
bic vault has been built for the safety
of securities. The building which fronts
on Broad street. extends through to
New street with an opening on WaA
street as in the old building In the
construction it was found necessary to
go - feet below the level of Broad
street. In the cellar are the vaults of
safe deposit companies and the plants
for cooling and heating the building
The members viii be warmed in win
ter by a constant flow of warm air. In
summer the coolest spot in the city out
side of cold storage warehouse VIII be
the exchange. which viii be kept at
low temperature
The main board room in which the
trading is done is ia by 109 feet and is
74l5 feet deep to the ceiling. Into this
will 90 fresh air at the rate of 12,000,o00
cubic feet a minute, while exhaust pipes
will draw of the foul ali.
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
today. as the building committee saw
to it that no insnection of the building
was made by members before every
thing was ready.
,rhe steel safe deposit vault in the
basement is lis feet inches long. q
feet wide and . feet 1919 inches high,
the walls being 10 inches thick and the
, total weight. including the 1l0-ton YES
tiDules 77e tons. It is carried on steel
bc1ms and columns at height of 33
fest ! inches above the cellar floor. It
IS enclosed by a cold rolled steel bar
partition weighing 40 tons. the bars be-
Ing placed four inches apart and being
1ss inches in diameter.
The ceremonies were brief and impres
sive. After prayer by the Rev. Morgan
Dix of Trinity church. Ransom H.
Thomas, chairman of the building com
mittee, formally handed the new building
over to Donald Mckay, president Of the
New York Exhange Building assoela-
ton. who in turn formally presented it
to Rudolph Keppler. president of the
exchange for the use of the members
In accepting the building Mr.. Keppler
said
THE great markets of the world are
so closely inter-related that. aided by
( he nf communication
which are now available, a panic in one
4 hemisphere can be, has been and VIII be
/ alleviated by the prompt and skilltul
use of the machinery afforded by the
( exchanges in the other.
We should also remember that the
exchanges are very important ana very
useful agencies for the successful diffu-
sion of capital into the great channels
of trade and industry
1t follows, therefore, that great
stock exchanges have become an essen
/ tial necessity. or adjunct. to our banks,
and other mOneyed institutions. their
! interests are. in a sense mutual, and
/ their facilities are practically indlspen-
sible each to the other Certain 1T IS
that the business transacted on an I'M
( pOrtant exchange could not be conduct
ed without the aid of the banks and 1
! am encouraged to encouraged by
4 the welcome presence with US today of
many of the honored heads of the most
! important banking and kindred corpora
tions-that these very needs arising
from business on the exchange constl-
tute one of the most important oppor-
tunities for profit to the banking inter
ests in the various money centers of the
MOI. need ]. hesitate to alIude to the
spirit Of patriotism which has always
animated the financial community, of
which our association forms an I'M
portant part and to the ever present
readiness to contribute to the relief of
suffering humanity
while it is true that in the practical
| pursuit of our business sentiment IS
! necessarily thrust aside. it is equally
true that genuine sympathy is nowhere
more spontaneous. nor more generously
and more practically demonstrated than
in this heart of Wall street
The magnifcence of our new home is
only in keeping with the magnitude of
our business. AS in this, so also in the
methods by which we adjust and settle
our daily transactions and in the ex-
traordinary facilities afforded by our
own stock exchange clearing house, we
may we'll claim first place among the
exchanges of the world. Having reached
it, let US maintain it.
Let us always remember the objects
/ Of our association as laid down in the
very first article of our constitution,
namely. To maintain high standards
of commercial honor among our mem
hers and to promote and inculcate just
and equitable principles of trade ana
business
I@lNliS anu dtlti4S It ll4o Stdi40dAu u
we shall have performed our duty to
ourselves and to the public, whose re-
spect and confidence we cherish and en-
Joy. Honor and integrity are the watch
words inscribed on our escutcheon
which has passed down from generation
to generation. and which shall ever re-
main unsta med so long as we proudly
lay claim to the name and title of the
New York Stock Exchange
An address by Mayor Low. in behalf
of the citizens and invited guests fol
lowed and then the members and their
guests including many men prominent