New Cotton Exchange

The official opening of the New York Cotton Exchange's new 24-story building was attended by prominent bankers and cotton men from all parts of the American cotton belt, as well as from England and Australia.

In the opening address, Alvin W. Krech, Chairman of the Equitable Trust Company, outlined the services of the Cotton Exchange, and scored the recent governmental interference with the Chicago Board of Trade.

The New York Cotton Exchange dates from 1870, when only about 15,000 bales a week were sold in its small quarters at 142 Pearl Street. In late years the turnover has amounted to 500,000 bales in a single day.