Broad Street from Wall St

Broad Street looking south from Wall Street. Photograph by Underhill, Irving, 1911.

The old Drexel Building (left), on the corner of Wall Street, was completed 1873 for Drexel Morgan & Co., succeeded by J.P.Morgan & Co. in 1895. The building was demolished before 1914. Below, some text from the Rider's New York city and vicinity, ..., edited by Fremont Rider, 1916. Broadway from Bowling Green to Wall Street:

«The New York Stock Exchange [on the right] is not an incorporated body but a strictly voluntary association, organized in 1792 by a group of brokers meeting under a buttonwood tree at what is now 70 Wall St., and later in the old Tontine Coffee house. The membership is limited to 11oo members, of whom 700 are active. No one but members are allowed on the floor. Memberships fluctuate in value with general business conditions. They have brought as high as $95,000, and have been sold within a year for less than $59,000. The Exchange does no business itself, but provides facilities to its members and oversees their conduct. An elected committee of 40 members is the governing board. Stocks and bonds of corporations and bonds of governments are sold. Transactions must be completed and paid for on the following day. In 1913 sales amounted to 83,283,582 shares of stock, worth $5,921,462,680, and $501,155,920 bonds. The record day in stocks was April 30, 19o1,when 3,190,857 shares were traded in, and in bonds, Nov. 11, 1904, when sales amounted to $15,085,500.»