New-York tribune., 1903-04-23

hired premises until about thrty-seven years ago
81 occupied its comparatively modest build
ing which is now replaced by this superb new
association to-day. then gentlemen, I feel that
ay eT 5aTs 10 the G ths 5s STOCK Kchange n Of to
day is but OF the many astounding changes
and give lasting and monumental expression the
unexampled progress and prosperity Win "hich
Our great city has been aderned & with sf Various 65s
convincing testimony TO our progress and advance
nent in the arts and sciences. and now we nave
nv fey. ~ AM ans sInaseed bv none of the great
buildings which have been erected during recent
yoars2 The beginnings OF the twentieth century
could not have been marked by better ano more
enduring monuments. for they embody and rep
resent the nnesS genius OF me a. aFeIeCl do t s1s
the highest skill OF the constructing engineer ana
I believe these statements are applicable TO this
building in their fullest significance. and it seems
70 me hut fitting 20 make mention Of the men
whose names are conspicrously Identifed With with
The Development Of this great underta l,geeGrge
Charles T Wills the builder: Elmer e Garnsey.
the decorative artist; John r ORourke, the con
latiRg engineer: these and many. Others have our
work.
After outlining the functions of a stock ex-
change. pointing out its value in the informa-
ton and protection OF the investing public, and
dwelling upon the high standard of conduct set
by the New York Stock Exchange, Mr.. Keppler
said IN closing his address;
The Tagn1hesenoe Of our new home is only in
this. SO also in the methods by which we adjust
Exchange clearing house may well claim first
reached it let maintain il, : -,
Let always remember the objects of asso-
ciaton as laid down in the very first article Of our
constitution-namely: ITO maintain high standards
and inculcate just and equitable principles
oI race ana business 1f Lpg s5 ao ac,,s pg u ~
ourselves and to the public whose respect and con-
are the watchwords inscribed on our escutcheon
IN has & paSse9 d9wn er rom & 20 s on
The seW-ToTi Stock Exchange.
MAYOR low THE NEXT SPEAKER
The last Of the formal speeches of the day
that of Mayor Low. who said in part:
On behalf of the city of New-York and on be
upon the completion of your beautiful building and
in bu;line Your new home You have made it beau
tiful To me It signifies the idealism that eharac-
said that trade is sordd but think it is true that
must be gifted with the i1nagiaation OF the poet
He must l. ye ave sc something net ho 3b f the Incidents Of qd oS lS
to be expressed in the facts and the events OF
obambr 5s Of conmer6e o as Illustrating M the same
fact that our great merchants and men OF nnanGe &
tiful That is one reason Why felt tha6 you % were we're
here to-day ----
After referring to. the projected expenditure OF
many millions of dollars by the Pennsylvania
and New-York Central railroads in construction
work in this city. the Mayor continued;
How could these things be done for our city if
market Cor the securities of these companies and
enable the companies TO secure rom 95 5es s is
home Illustration but II is eQuaIy IUr
1t win be equally significant for the whole world
(Appiause9 ------.--
Mr.. SMITHS "REMINISCENCES.
President KeppIer announced that kilograms
of congratulation had been received from many
exchanges in the United States and foreign
countries He would not read these dispatches,
he added 'but IN behalf Of the Oldest member
of the exchange, William Alexander Smith" he
said II viii occupy your attention few mo-
,nents" The mention of the name OF Mr. Smith
was received with great applause Mr. Smiths
naper. as read by President Keppler, was as fol-
lows:
Recurring to the conditions of the stock business
when I entered the exchange IN lS4 ana, ana wiee bfS
ming think Is only not less FE9ndeTflI tnan Inc
other respects. When L remember the dignifleo
body of middle aged gentlemen Ieena thefe' tI nb
bering less than one hundred seated around I LADIES @
with their cumbersome books IN Wthch theE sCau 5
which was duly recorded by the secretary upon
the rostrIm. which record aIter -t DeI1e b anal
55Ie6 to the more commodious large hall in LORDS
Tie present ste. in 1861 and now to the present
occupy-I cannot bur think that were il not for
for Itself II could never have reached its present
status Of credit and prosperity. --oo-. ..r,o
became member have Of ceurs @ f seen sHS T9nGerI1 ot t
ESchange / ventured the prediction some fifteen
Years since Een ,9 neDeP pe2tve 81 ee years NeW
York would become the financial centre Of the civil
ized world and although the limit of that period
has been reached IL does not require very Keen
rest OF the world. with discerns ii.
.4T6F Jn Of f6se who the board when
entered II permit me TO oiose & %sa Itb Ie nd 5ros
rerfty Of each and all Of you
Al the close Of the reading Of the paper three
rousing cheers. proposed by Donald Mackay.
were given for 1.-THE oldest member of the New
York Stock Exchange" Mr.. Morgan swinging
his hat and cheering with the rest
=Nr Smith, who sat near the centre of the
speakers stand well to the front, rose and
bowed his thanks for the unusual denonstra-
lion in his honor.
INSPECTING THE NEW BUILDING.
The reading Of Mr. Smiths address terminated
the exercises of the day. President Keppler in
vited all present TO inspect the building, and
announced that the exchange would open for
business at 10 o'clock this morning. From
1880 until 40 O'Clock reception was held in
the new structure, a great many women being
among the visitors. The building was beauti-
fully decorated with potted plants and pro-
fusion OF cut flowers, which were placed IN all
the halls and all the rooms
The new exchange remained crowded till the |
time of closing the elevators running constantly
t,n and down with the multituoes who wanted TO
v.sff The executive Offices. the rooms OF the
luncheon Club and the Bono Room. The con-
slant stream Of and women through the
halls and down the stairways was the best indi-
cation of the number Of visitors. The Board