The sun. [volume] (New York [N.Y.]) 1833-1916, 1903-10-04
BROKERS AT THEIR LUNCHEON
FINE QUARTERS UNDER THE
STOCK EXCHANGES ROOF.

FINE QUARTERS UNDER THE
STOCK EXCHANGES ROOF.
The Luncheon Club, Where the Talk h
Mostly OF Stocks and They Can Keep
Tab on the Market ~ They Dine--Old
Timers and Newcomers Meet There.
From the confusion OF the board room
! to silent spacious rooms whose walls glow
softly with the rich warmth Of old mahogany
and tapestries. where spotless linen covers
tables set with cleaning silverware, cut
glass and rare china, is quite change. But
it may be found under the roof OF the New
York Stock Exchange.
Away up on the seventh floor Of the big
marble building are the quarters Of tho
Luncheon Club. It has been simply the
Luncheon Club since ito informal founding
years ago by r. M. Stuart Wortley. Talbot
j. Taylor and other Exchange members.
1t used to meet then at tho noon hour In
rooms over the Offices Of Price, Mccormick
& Co., in the old building on Broadway
which has just given way to sky-scraping
addition to the Manhattan Life Building.
The club was formed In such manner that
men outside Of the Exchange might become
members and they did. The membership
was fixed at 400 and that limit still remains.
There has been a change. though, in the
matter Of membership. Outsiders are still
eligible. but it is understood that members
of the Stock Exchange are to have first
chance, members Of Stock Exchange houses
second and the outsiders only third.
The expenses of membership are small
in comparison with those Of other ORGANISE
tions. There ia an initiation fee Of 500 and
after that annual dues Of $50. The popu-
list on which there are said to be about one
hundred names.
The club was q success from the first.
It came to occupy such place in the daily
life Of the Exchange that when the new
building was planned special arrangements
were made for the housing OF It under the
roof Of the Exchange.
The dining rooms occupy nearly all OF tho
New street side OF the structure, and the
kitchens, pantries and refrigerating rooms
the corresponding portion Of the eighth
floor. For all this space, purposely planned
the club pays $780, 600 year in rent to the
Exchange.
The culinary department OF the club
compares favorably with that Of any Of the
well-known uptown eating places. 1t in
cludes kitchens, pantries. refrigerating
rooms, glass-ined ice compartments, linen
closets, china closets and oommodious
quarters for the servants.
The dining quarters comprise three
apartments; q main dining hall, perhaps
90 feet long and so feet wide. q somewhat
smaller room for members who do not
smoke, and lounging room.
The main hall is a splendid apartment
The ceiling is heavily beamed In mahogany
and the high wainscoting is Of the same
rich wood. There are wide, deep windows,
and fireplace and mantelpiece Of great
size and artistic design. Small tables arc
placed about the room 30 that the mem
bers may dine in friendly parties OF two
or four.
The smaller dining room is entered from
the main room through wide arch, and In
appointments it is like the big hall. Tho
lounging room u of the non-smokers'
room.
1t Is noticed at once that the appoint
ments OF the dining quarters include easy
means Of keeping the run Of affairs In the
board room. The ticker grinds out its
yards Of figured tape. and. inserted In the
wainscoting, are speaking tubes and pneu-
matte chutes anording instant communica-
ton with the floor.
To these quarters come. between the hours
Of IL and 2, the members OF the club. Those
who are active on the floor step into the
elevators and in moment are whirled
from tho excitement OF the market to the
quiet OF we'll ordered dining rooms. They
are Joined by members from outside the
Exchange circles, by friends or by their
partners.
Inpoint OF worldly success, 1t might safely
be set down that tho collective wealth Of
the club Is not less than $50 o00. 900. and this
might easily be increased to $500 COO. 900
with little chance Of error.
OF course the talk runs on stocks. A
happy looking young broker, who simply
can't help clapping his nearest neighbours
broad back, cries:
Don't you mind, old fellow. Think
Of the good time we'll have tonight. Moth
ing but gladness. And all on old Browns
money, too. He thought he was clever
when he sold me that 800 Atch. You ought
to have seen the old boys face when 1t
went up point and half In ten minutes
and waited me this little bundle you and
III burn up. That certainly was one on
Brown
Sure we'll burn it up all right but you
better keep your eye peeltd for Brown
laughs he of the broad back. Browns
a crafty old bird. It gives him cramps
to lose money!"
At nearby table are the floor member
and the senior partner Of big oommiss ion
house and the firms most important GUS
toner. heavy buyer and seller Of stocks.
The partner and the customer have met
the floor member at luncheon by appoint
ment in order to get the latest news Of the
market. They talk more guardedly, but
you hear the man who has been In the thick
of it all morning say:
SITS confused, somewhat. Looks to me
like Martin-you know him, the new bear
operator, he's sitting over there with his
broker; no, at that table near the window.
Yes. II looks to me as II he has learned
~ VA ro bla nm (hioo To 70