1 Hanover Square
From Wikipedia, the free encyclopedia
| New York Cotton Exchange | |
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| (U.S. National Historic Landmark) | |
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| Location: | 1 Hanover Square, Manhattan, New York City, New York |
| Coordinates: | Coordinates: |
| Built/Founded: | 1851-1853 |
| Architect: | Richard F. Carman |
| Architectural style(s): | Renaissance |
| Designated as NHL: | December 22, 1977 [1] |
| Added to NRHP: | January 7, 1972[2] |
| NRHP Reference#: | 72001586 |
1 Hanover Square also known variously as the New York Cotton Exchange and the India House is in lower Manhattan, New York City, New York. In 1870, the New York Cotton Exchange was founded here, the second such exchange in the world and the first commodity market in the United States. [3]
It was declared a National Historic Landmark in 1977.[1][4][5]
Before the Cotton Exchange, it was the headquarters of the Hanover Bank. After 1914, it was a private club.[6]. It currently houses restaurants.
The New York Cotton Exchange (NYCE) was founded in 1870 by a group of one hundred cotton brokers and merchants at 1 Hanover Square (aka India House) in New York City, New York. The oldest commodities exchange in the city, well into the 20th Century, cotton was a leading American commodity for both export and domestic consumption. In that era, other major exchanges existed in the United States such as the Memphis Cotton Exchange, Savannah Cotton Exchange, the New Orleans Cotton Exchange, and the Houston Cotton Exchange plus the important Liverpool Cotton Exchange in Liverpool, England. The NYCE and the Memphis Cotton Exchange are the only organizations of that group still active today.
Annually until 1958, the NYCE published the "Cotton Year Book" that contained the year's statistics on the cotton industry. Over the years, the NYCE created various subsidiaries to trade non-cotton contracts, including the Wool Associates, the Citrus Associates, the Tomato Products Associates, and the Financial Instruments Exchange (FINEX). In 1998, the New York Board of Trade (NYBOT) became the parent company of both the New York Cotton Exchange and the Coffee, Sugar and Cocoa Exchange (founded, 1882).
The New York Cotton Exchange was a tenant at 4 World Trade Center, 8th floor on September 11, 2001. Following the terrorist attacks that day it had to relocate to temporary facilities in Long Island City that fortunately for the Exchange had been set up as an emergency backup location following the 1993 World Trade Center bombing. Since 2003, its headquarters and trading facility have been in the New York Mercantile Exchange Building in lower Manhattan.
[edit] See also
[edit] References
- ^ a b New York Cotton Exchange. National Historic Landmark summary listing. National Park Service (2007-09-11).
- ^ National Register Information System. National Register of Historic Places. National Park Service (2007-01-23).
- ^ NHL Writeup
- ^ George R. Adams (December, 1976), National Register of Historic Places Inventory-Nomination: New York Cotton ExchangePDF (877 KiB), National Park Service and Accompanying photo, exterior, from 1964.PDF (584 KiB)
- ^ NL Writeup
- ^ Bill Harris, "One Thousand New York Buildings", 2002, Black Dog and Leventhal, pg 33
[edit] External links
- 1 Hanover Square is at coordinates Coordinates:
- New York Board of Trade
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