Merchants Exchange Building (St. Louis)
Encyclopedia
The Merchants Exchange Building was a building at Third Street at Chestnut and Pine in St. Louis, Missouri
from 1875 to 1958 that housed the St. Louis Merchants Exchange and hosted the 1876 Democratic National Convention
.
The building was designed by Francis Lee and Thomas Annan who placed second in a competition for the structure (the winner was George I. Ingraham but his work was considered too expensive.
The building was the second Merchants Exchange on the location. The first building was built in 1857. During the American Civil War
members of the exchange split along North-South lines. The Exchange merged back together after the war.
It cost $2 million and measured 235 feet (71.6 m) by 187 feet (57 m) and was actually two separate buildings.
The second and third floors of the western half of the building had an iron truss system that supported the roof and created the largest open indoor space in the United States at the time of its construction (235 feet long and 98 feet (29.9 m) wide and 65 feet (19.8 m) tall) and thus was chosen for the 1876 convention which was the first Democratic or Republican national convention west of the Mississippi River.
At the same time of its construction the Merchants Exchange built the Eads Bridge
across the Mississippi River
.
The building was torn down in 1958. Part of the Adams Mark Hotel was built in its location. In 2008 the Adams Mark announced plans to become a Grand Hyatt.
The Merchants Exchange founded in 1836 was the first commodity trading exchange in the United States—predating the Chicago Board of Trade
. In its early years it was referred to as the Chamber of Commerce
. Articles about the 1876 Convention referred to it as the Chamber of Commerce. After vacating its downtown location, it was evicted in 1995 from its new location by eminent domain
when St. Louis expanded the St. Louis Science Center
. The Exchange made a last gasp in 2000/2001 to conduct computerized trading of future trading of freight on the Mississippi River. It has quietly ceased operation.
St. Louis, Missouri
St. Louis is an independent city on the eastern border of Missouri, United States. With a population of 319,294, it was the 58th-largest U.S. city at the 2010 U.S. Census. The Greater St...
from 1875 to 1958 that housed the St. Louis Merchants Exchange and hosted the 1876 Democratic National Convention
1876 Democratic National Convention
The 1876 Democratic National Convention assembled in St. Louis just nine days after the conclusion of the Republican National Convention. The convention opened with three contenders, Bourbon Democrat Samuel J. Tilden of New York, Thomas Hendricks of Indiana and Union General Winfield S. Hancock of...
.
The building was designed by Francis Lee and Thomas Annan who placed second in a competition for the structure (the winner was George I. Ingraham but his work was considered too expensive.
The building was the second Merchants Exchange on the location. The first building was built in 1857. During the American Civil War
American Civil War
The American Civil War was a civil war fought in the United States of America. In response to the election of Abraham Lincoln as President of the United States, 11 southern slave states declared their secession from the United States and formed the Confederate States of America ; the other 25...
members of the exchange split along North-South lines. The Exchange merged back together after the war.
It cost $2 million and measured 235 feet (71.6 m) by 187 feet (57 m) and was actually two separate buildings.
The second and third floors of the western half of the building had an iron truss system that supported the roof and created the largest open indoor space in the United States at the time of its construction (235 feet long and 98 feet (29.9 m) wide and 65 feet (19.8 m) tall) and thus was chosen for the 1876 convention which was the first Democratic or Republican national convention west of the Mississippi River.
At the same time of its construction the Merchants Exchange built the Eads Bridge
Eads Bridge
The Eads Bridge is a combined road and railway bridge over the Mississippi River at St. Louis, connecting St. Louis and East St. Louis, Illinois....
across the Mississippi River
Mississippi River
The Mississippi River is the largest river system in North America. Flowing entirely in the United States, this river rises in western Minnesota and meanders slowly southwards for to the Mississippi River Delta at the Gulf of Mexico. With its many tributaries, the Mississippi's watershed drains...
.
The building was torn down in 1958. Part of the Adams Mark Hotel was built in its location. In 2008 the Adams Mark announced plans to become a Grand Hyatt.
The Merchants Exchange founded in 1836 was the first commodity trading exchange in the United States—predating the Chicago Board of Trade
Chicago Board of Trade
The Chicago Board of Trade , established in 1848, is the world's oldest futures and options exchange. More than 50 different options and futures contracts are traded by over 3,600 CBOT members through open outcry and eTrading. Volumes at the exchange in 2003 were a record breaking 454 million...
. In its early years it was referred to as the Chamber of Commerce
Chamber of commerce
A chamber of commerce is a form of business network, e.g., a local organization of businesses whose goal is to further the interests of businesses. Business owners in towns and cities form these local societies to advocate on behalf of the business community...
. Articles about the 1876 Convention referred to it as the Chamber of Commerce. After vacating its downtown location, it was evicted in 1995 from its new location by eminent domain
Eminent domain
Eminent domain , compulsory purchase , resumption/compulsory acquisition , or expropriation is an action of the state to seize a citizen's private property, expropriate property, or seize a citizen's rights in property with due monetary compensation, but without the owner's consent...
when St. Louis expanded the St. Louis Science Center
St. Louis Science Center
The Saint Louis Science Center is a collection of buildings including a science museum and planetarium in St. Louis, Missouri, on the southeastern corner of Forest Park. The Planetarium opened in 1963, and it was expanded and renamed as the Saint Louis Science Center in 1983...
. The Exchange made a last gasp in 2000/2001 to conduct computerized trading of future trading of freight on the Mississippi River. It has quietly ceased operation.