New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-10
Curb Market AssOcin-
fion Has o. Real Roof
Ouer It's Head, but
curb Bond and Stock
Market Does "Busi-
ness as Usual'' on
RoofIess Broad Street
and Expects to Stick

-HE passing ef the New York Curb"
which was announced with the removal
l. Of the New York Curb Market Asso-
citation to it's building in Trinity
place. seems not to have come to pass.
as in previous cases, when the Curb has
hsen threatened with extinction by the re-
r,oval of majority of its members to their
own rooftree there has been a sufficient
,nrber of dissenting brokers to keep the out
door trading alive. The Curb Market Asso-
,;ation moved under roof June 81, but on that
ssv. and every day since then, there has been
abusiness at usual at the old stand in Broad
c+rset. where the paving has been worn deep
bv the restless feet Of brokers and not by the
ordinary procession of traffic. To be sure,
+bsrs has not been the crowd Of old, but the
dissenting association, which calls itself the
New York Curb Bond and Stock Market, says
Il will be going strong as soon as market con-
ditions pick up little. Also the members
nooh-nooh any stories to the effect that the
noice will clear Broad Street. Let there be
furry in stocks, and it is promised that
there will be the same mad scenes OF old
enacted on the Curb, with brokers rushing
about in the street, many of them wearing
hats. of varied hues, and all making mysterl-
GUS signals to their aids in upper windows
who have instruments attached to their heads
and who can converse in sign language, talk
through the telephone and smoke cigarettes
at one and the same time Also, 1t is
promised that on stormy days there will be the
same collection of rubber coats, seamen's
hats and rubber boots gGstening in the cavern
like depths of the street. In short, outdoor
trading in New York has not been killed, and
the prophets even go so TAR as to declare
that it never will be killed, jnasmuch as it Is
the sturdiest and longest recognized form of
barter.
Tradition has it that before there was any
thought of a Stock Exchange in New York
there was open-ar trading beneath certain
old buttonwood tree in Wall Street. From
this organization of traders, with operations
confined to the first bonds authorized by Con-
gress and to shares of the United States
Bank and the Bank of North America, came
the Stock Market, which had it's first indoor
home in the Tontine Coffee House, and which,
after several changes, became the New York
Stock Exchange.
While removals to various sheltered quar-
tiers were going on the ever present minority
Of brokers' kept up the open-air trading. Dur
ing the Civil War it is estimated that there
was greater volume of business in the open
than on the floor of the exchange. During
that period the Curb Market transacted it's
business on William Street, between Exchange
Place and Beaver Street. In 1869 there was
another merging of outdoor brokers with the
Stock Exchange, but, as before, a minority
continued to trade in the open. Part of these
brokers organized the New York Mining Ex-
change and the Petroleum Consolidated Stock
Exchange and in 1885 those organizations
were merged into the Consolidated Stock Ex-
change, with quarters at Beaver and Broad
streets. From 1880 to 1900 the Curb Market
was conducted in front of the Mills Building,
on Broad Street, and from 1900 to it's move to
lts new building last month the Curb Market
Association carried on its operations in front
OF rs Broad Street. where countless spectacu-
lar scenes have been staged.
The Curb Market brokers pride themselves
on representing the oldest line of traders
The basis of every great nations success. it
Is pointed out, is to be found in outdoor trad
ing. In this country if it had not been for
some exceedingly skillful bartering carried or
outdoors by Indians on the one side and white
traders the other some very siZable Yankee
fortunes never would have been accumulated
Trading in the open in the New York fnan
eial district always has been picturesque, bu1
IN early days it had leisurely quality which
mas been absent in recent years. The fine ole
gentlemen in the beaver hats and the rut1ee
shlrt fronts and tight trousers, who took care
Of the outdoor business when New York wa
considerably YOUNGER thar II is now, would
be dazed if they could be privileged to take
seat IN one 0l the blg Sightseeing busses tina
tour the financial district every day and tina
hnger lovingly about the Curb Market for thu
delectation of visitors. They would SCI
hfekers standing in the heaviest storms ant
making frantic signals in highly specialized
sign language to operators in the various win
aows They would hear hoarse bellowings AM
shrill pipings from vocal organs long accus
toned to outdoor exercise. In the matter o
sign language they would see adopts who coul'
we with any Indian expert in making tn
myers talk in terms of trade. These sign
were introduced by E. S. Mendels, the "fathe
o. the Curb" it is claimed, and have been per