New York Daily Photo Analytics

Tuesday, June 19, 2007

New York Stock Exchange

The first thing to know about the New York Stock Exchange building is that it is not located on Wall Street (click here for photo), but around the corner at 18 Broad. The New York Stock Exchange (the world's largest) traces its origins to 1792, when 24 New York City stockbrokers and merchants signed the Buttonwood Agreement outside 68 Wall Street under a buttonwood tree. In 1817 they drafted its first constitution. By the late 1800s larger facilities were needed and 8 NYC architects were invited to participate in a design competition for a new building. George B. Post's neo-Classical design won and in 1903 the new Exchange building with its six massive Corinthian columns opened to fanfare and festivity, recognized from the first as an example of masterful architecture (note - the flag was draped in front of the building after 9/11). Among some of its marvels (from the New York Stock Exchange website): The trading floor was one of the grandest spaces in the nation. It measured 109 x 140 feet and its marble walls rise 72 feet to meet the ornate gilt ceiling. The window wall: The entire front of the building is glass, making practically one stupendous window, 96 feet long and 50 feet high. Another window of the same size forms the New Street front. Skylight: The trading floor is surmounted by a vast skylight, 30 feet square. Air conditioning: The Stock Exchange building was one of the first structures in the world to employ it. There is even an emergency hospital with a physician in constant attendance. The great figural sculptures in marble on the NYSE building’s facade were designed by John Quincy Adams Ward and are among the building’s most recognizable features (click here). Entitled “Integrity Protecting the Works of Man”, the classical design depicts the 22 foot figure of Integrity in the center, with Agriculture and Mining to her left and Science, Industry and Invention on her right, representing the sources of American prosperity. The waves on either extreme of the pediment symbolize the ocean-to-ocean influence of the Exchange (the pediment required replacement in 1936). In 1967, Yippie founder and activist Abbie Hoffman threw dollar bills on the trading floor to proclaim the Death of Money. It never came to pass :)

11 comments:

Prokur said...

definitely, location is the first thing to know :D

Brian said...

In the posting, I did not mention all the security in the area with machine guns. Between the imposing architecture and the military, it's a serious destination.

RamblingRound said...

Not on Wall Street? Hmmmm. Very interesting post and a very big flag.

Sally said...

It, ummmm, certainly likes to declare the pre-eminence of The U-NITED STATES OF AMERICA in the capitalist system it is the chief pillar of, doesn't it! I am more taken by the flag extravagance than anything else. No wonder other countryfolk get sick and tired of American flag waving!

Brian said...

Sally;
I agree - I think the flag thing could be toned down to some more appropriate display.
Brian

Pedp said...

That's a prominent flag there...!

Hope you'll take a moment to visit my photo blog: here.

Anonymous said...

I also think the oversized flag is a little much. Every since the month before Iraq, I don't particularly like the flag (temporarily).

But to say having an American flag on an American building is declaring U.S."preeminence" (superior to others) is also exaggerated (and assumptive).

Susan said...

clicked the wrong thing....above was me...Susan

sayhieverymorning said...

Thank You for telling NYSE is not on Wall street - I have always wondered why is it on Broad street - who was wrong ?!:)

Justin said...

It's not entirely fair to say that the exchange is not on wall street.

The building takes the entire width of a block, with entrances on Wall Street, Broad Street (where the main facade is), and New Street. In fact, the NYSE has several legal addresses, not the least of which is 11 Wall. So to say that it is not "on wall street" is rather misleading.

By the way - several other huge institutions are not actually "on" wall street, either. Goldman Sachs headquarters are at 60 Broad Street. The DTCC is on Water Street. And most of the major I-Banks are up in midtown these days, anyway.

Brian Dubé said...

Justin - I stand corrected. Thank you very much.