Omaha daily bee., 1903-04-23
DAY IS SPENT OfOlcATNe PALACE
Prayer Preoed First Formal Entry o.
Bulls and Bears Brigade
HOT AND COLD AIR formed ON At WILL
Pa ace Fitted with Special Apparatus to
Neutralize Climatic Changes
BUILDING HOUSE OF COMMERCIAL HONOR
President Declares Members Must
stand for Just and Equitable Prin-
eiples Of Trade and Business
According 60 Constitution.

NEW YORK, April 22.-The members Of
the New York stock exchange abandoned
busiress today to devote themselves TO the
ceremonies incident to the dedication Of
their handsome new building.
1t is Just two years since the work Of
tearing down the old building TO make
room for the new was commenced and dur
ing that time the members have been ac-
commodated at the produce exchange. 1t
was expected that the work could be COM
pleied within a year, but the difficulties
were greater than the architects and con
tractors had counted on.
The building. which looks small beside
the skyscrapers by which 1t is surrounded,
presents a striking appearance, with its
massive and beautifully carved stone pillars
and decorations. The interior has been ar
ranged looking to the comfort of the mem
bers. An impregnable 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 Wall street. as in the old build
ing. In the construction 1t was found
necessary to 60 forty-two 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 build
Ing.
Will He COOt in Summer.
The members will be warmed in the win
ter by a constant how OF warm air. In the
summer the coolest spot in the city out
side OF cold storage warehouse will be the
exchange. which will be kept at low tenn
perature.
The main board room, in which the trad
Ing is done. Is 144x1os feet and is TAN feet
deep to the ceiling. into this win 60 fresh
air at the rate of 100000 cubic feet
minute. while exhaust pipes will draw off
the foul air
The luncheon club, secretaries Offices and
other offices connected with the exchange
are on the floors above. The members saw
these for the first time today as the build
ing committee cav TO it that no inspection
OF the building was made by members boz
fcFe everything was'ready. A
The steel safe deposit vault In the base
nent is 1ls feet inches long, 81 feet wide
and feet 10ls inches high, the walls being
10 Inches thick and the total weight, in
eluding the 11O-ton vestibules. 77e tons. 1t
is carried on steel beams and columns at
height Of SO feet inches above the cellar
floor. 1t is enclosed by a cold rolled steel
bar partition weighing 40 tons. the bars be-
ing placed four inches apart and being ia
inches in diameter.
Ceremonies Are Brief.
The ceremonies were brief and impress
sive. After prayer by Rev. Morgan Dix Of
Trinity church, Ransom H. Thomas chair
man OF the building committee, formally
handed the new building over to, Donald
Mckay president Of the new Stock Ex-
change Building association, who in turn
formally presented 1t 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
Sect eans of 1nn tie1 Dy yb tnS per-
can can be. has been and viii be alleviated by
the prompt and skillful use of the machin-
cry AFFORDED by the exchanges in the other.
We should also remember that the ex-
changes are very important and very sue
cessful sources OF diffusion OF capital into
the great channels OF trade and industry
changes have become an ESSENTIAL necessity
or adjunct to our banks and other moneyed
institutionsi their Interests Interests are in sense
Indispensable, each TO the other. Certain Il
ID that the business transacted on an Inn
Without the aid of the banks and
l am encouraged to say-encouraged
To-Day o many OF the RcsoTeS heads t6 3, tSs
most important banks and kindred institu-
tions-that these very needs arising from
most important opportunities for proat IA
the banking interests in the various money
centers OF the world
Spirit of Patriotism.
Nor need I hesitate to allude TO the spiri,
or patriotism which has always animated
the financial community OF which our as.
ISOLATION forms an important part, and OF
the ever readiness TO contribute 10 the re-
lief OF suffering humanity.
While II Is true that In the pra effcaI ,,,,s
suit OF our business sentiment Is necessarily
thrust aside, II is equally true that genuine
sympathy Is nowhere more spontaneous nor
more generously and more practically
dsmonstFated than in this heart OF Wal
The magnihcenee Of our new home is onl,
In keeping with the magnitude OF our bust,
ness. AS In this. so also In the methods bN
which we adjust and settle our daily trans
actions ana IN the extraordinary facilities
,smorSeea oy our own % stock exchange clear
among the exchanges of the world HavinI
reached Il. let US maintain II,
our organization as laid down In the yer,
first article OF our constitution, namely
Ito maintain high standards OF commereia
honor among our members and 10 promot,
ana inculcate Just and equitable principles
OF trade and business"
Living and acting by this standard W,
shai nave performed our duty to ourselves
and TO the public whose respect and conn
tegrity are the watch words Inscribed on ou
escutcheon which has passed down from
ever remain unstained so long as IA,
proudly lay claim to the name and title q
the New York Stock exchange.
An address by Mayor Low ON behalf o
the citizens and invited guests followed
4 and then the members and their guests
including many men prominent In fnaneia
and business circles. were shown through
Y. the building.
Among the invited guests were the presl
dent and secretary OF the Consolidated ex
change the New York exchange thus 10
the nrst time recognizing that Institution
The members Of the Consolidated exohang
sent their well wishes with a large nora
piece containing 500 American Beauty bses
The board room, where the dedicator,
ceremonies were held. was crowded lonl
before the hour for the opening and tn
guests were entertained with music. Tn
brokerage ofhces In the district we're close
and naRs neW from aaRstaIa in honor n