New York Stock Exchange, Old Building- 1892

Here some text that accompanies this photo in the King’s Handbook:

«The Renaissance façade of the Stock-Exchange building rises on Broad Street, a few doors from Wall Street. The lot it occupies is irregular in shape, extending through to New Street, and has a narrow wing with an entrance on Wall Street. The executive offices occupy the Broad-Street side, and nearly the whole interior of the building is given up to the large hall or Board room in which the transactions of the Exchange are carried on [see below interior architecture]. The daily dealings on this Exchange are printed in the great newspapers throughout the country.»

«The history of the New-York Stock Exchange is parallel to that of New York's financial development. Its centenary was celebrated on May 17, 1892. One hundred years previous to that day 24 brokers of New York met under a cottonwood tree opposite 60 Wall Street, and signed a still extant agreement regarding rates of commission. This organization was somewhat indefinite, though meetings were held irregularly at the Tontine Coffee-House, at Wall and Water Streets. Not until 1817 was a formal organization of the Stock Exchange effected on the present lines. The first meeting-place of the Board was in the Merchants' Exchange (now the Custom House). In 1853 it moved to the corner of Beaver and Wall Streets; and finally in 1865 took possession of the edifice which by additions and alterations has become its present building. In 1869 the members of a rival body called the "Open Board of Brokers" were absorbed. In 1879, after the closing of the "Gold Board" (the Exchange in which during the war dealings and speculations in gold were conducted, and which after August, 1865, had its quarters on New Street, next to the Stock Exchange) its building was taken in and used to extend the premises pertaining to the Stock Exchange.

The Stock Exchange is a voluntary association. It is not even incorporated. The membership now is 1,100. Memberships, called technically "seats" pass by sale and transfer from a member, or his legal representative, in case of decease. Seats sold about ten years ago for $34,000, the highest price on record. The present value is $20,000 each. A purchaser of a seat must, however, be approved by the Committee on Admission. The immense business between the members of the Exchange being entirely by word of mouth, and dependent upon personal veracity and honor, a careful investigation is made of all applicants for admission. Disputes in fact are very rare, and as a rule nowhere in the world is good faith and honorable dealing better observed than between the members of the New-York Stock Exchange.»