FIRST -- Commodities Exchange in the United States - Philadelphia, PA
N 39° 56.989 W 075° 08.930
18S E 487286 N 4422198
Celebrating more than 100 years as a center for commerce and trade, The Bourse is now one of Philadelphia’s leading commercial complexes, home to 24 retail and food service stores and more than 50 businesses. Listed on the NRHP.
Waymark Code: WMCH6K
Location: Pennsylvania, United States
Date Posted: 09/07/2011
Views: 5
One may learn about this important free-market first from the historic marker attached to the front of the building. It reads: The First Commodities Exchange in the United States Opened 1895. The Bourse Building was the first in the world to simultaneously house a stock exchange, maritime exchange and grain-trading center.
The building was one of the first steel-framed buildings to be constructed. Carlisle redstone, Pompeian buff brick and terra cotta were all used in the construction of the facade. The 1895 Victorian building was modeled after the Bourse in Hamburg, Germany. The architects were G. W. & W. D. Hewitt.
The concept of the Bourse – meaning a place of exchange – was brought to Philadelphia in 1890 by George E. Bartol, a prosperous Philadelphia grain and commodities exporter. While in Europe, Bartol visited the great Bourse in Hamburg, Germany. Upon his return to the United States, Bartol called together the most influential businessmen and merchants in the city, asking them to pool their resources to construct the city’s own business center – a Philadelphia Bourse.
In 1891, The Philadelphia Bourse Corporation was formed, with each member subscribing $1,000 to the project, by an issue of stock and mortgage. The Bourse motto was “buy, sell, ship via Philadelphia”.
The Philadelphia Bourse Building, the first commodities exchange in the United States, was completed in 1895. The building was one of the first steel-framed buildings to be constructed. Three types of masonry were used on the facade: Carlisle redstone, Pompeian buff brick and terra cotta. Inside were large columns and pilasters leading to a balcony surrounding the main floor. Bow-top girders were used to support a skylight at the third floor.
The original tenants included the American Telephone and Telegraphy, Moore and McCormick Steamships lines, grain dealers and export agents. The Bourse was also home to the Commercial Exchange, the Maritime Exchange, Grocers and Importers Exchange and the Board of Trade.
Address
21 S. 5TH STREET
PHILADELPHIA, PA 19106
(215) 625-0300
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