On September 9, 1901, the cornerstone for the new NYSE building at 18 Broad Street is laid. A copper box is placed within the cornerstone filled with documents and mementos representative of the NYSE's history.

The trading volume and number of NYSE listed shares had exploded when this financial institution turned the corner to embrace the new 20th century. It was obvious more space was needed. Soon, Exchange officials selected NYC architect George B. Post's neo-classical submission over seven other proposals.

All was good to go by May 1901 -- the old 10 Broad Street building was demolished, and additional land parcels purchased to embrace the expansion.

Naturally, labor problems, architectural re-designs, and other construction delays held up the structure's debut. But by today's standards, the NYSE's ability to open its new facilities on April 22, 1903 was speedily outstanding.

18 Broad Street's final cost was approximately $4 million. But this expense was worth it because, "Where so many of our members spend the active years of their lives, they are entitled to the best that architectural ingenuity and engineering skill can produce," said R.H.Thomas, chairman of the Building Committee.

Among its marvels:

• The trading floor: At the time, one of the grandest spaces in the nation. It measures 109 x 140 feet and its marble walls rise 72 feet to meet the ornate gilt ceiling.
• 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 is one of the first structures in the world to employ it.
• Annunciator boards on each end wall of the trading floor are used to page members. Over 24 miles of wiring are installed to run the boards.

18 Broad Street is also notable for its many amenities, including dining rooms and an emergency hospital with a physician in constant attendance.

This Week in Wall Street History

9/7/08