The Secrets of the Great City: A Work Descriptive of the Virtues and the Vices, the Mysteries, Miseries and Crimes of New York CityMcCabe, James Dabney
History
The Secrets of the Great City: A Work Descriptive of the Virtues and the Vices, the Mysteries, Miseries and Crimes of New York City
McCabe, James Dabney
New York (N.Y.) -- Description and travel; New York (N.Y.) -- History
Just below the Custom House is the handsome marble building of Brown
Brothers, bankers, one of the model houses of New York, as regards both
the firm and the edifice. The Messrs. Brown are regarded as the most
reliable and accomplished operators in the street. Across the way, in a
dingy granite building, is the office of August Belmont & Co., the
American agents of the Rothschilds, and bankers on their own account.
Jay Cooke & Co. occupy the fine marble building at the corner of Wall
and Nassau streets, opposite the Treasury, and there conduct the New
York branch of their enormous business. Fisk & Hatch, the financial
agents of the great Pacific Railway, are a few steps higher up Nassau
street. Henry Clews & Co. are in the building occupied by the United
States Assay Office. Other firms, of more or less eminence, fill the
street. Some have fine, showy offices, others operate in dark, dingy
holes.
THE STOCK EXCHANGE.
The Stock Exchange is located on Broad street, to the south of Wall
street. It is a fine white marble edifice, extending back to New
street, which is also taken up with brokers' offices. There is an
entrance on Wall street, but the main building is on Broad street. It
contains the "Long Room," the "The New York Stock Exchange," the
"Mining Board," the now obsolete "Petroleum Board," and the "Government
Board." All sorts of stocks are bought and sold in this building.
"Erie" and "Pacific Mail" are the most attractive to the initiated, and
the most disastrous as well.
The Chamber of the Board of Stock Brokers is a large, handsomely
furnished apartment, somewhat like a lecture room in appearance. Each
broker has a seat assigned to him. Outsiders are not admitted to the
sessions of the board, but any one may communicate with a member by
handing his card to the doorkeeper, who will at once call out the
gentleman. The sessions of the Board are presided over by a President,
but the work is done by a Vice-President, who from ten o'clock until
one, calls over the list of stocks, and declares the sales. Each day a
list of stocks to be put in the market is made out, and no others can
be sold during the sessions. The Board has the right to refuse to offer
any stocks for sale, and a guarantee is required of the party making
the sale. The members of the Board are men of character, and their
transactions are fair and open. They are required to fulfil all
contracts in good faith, however great the loss to themselves, on pain
of expulsion from the Board, and an expelled member cannot be
reinstated. The entrance fee is three thousand dollars. Persons wishing
to become members are required to make their applications at certain
times. This is publicly announced, and if any one can bring and sustain
an accusation affecting the integrity of the applicant, he is not
admitted.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account