place

Philadelphia Bourse

1891 establishments in Pennsylvania1960s disestablishments in the United StatesBeaux-Arts architecture in PennsylvaniaBuildings and structures in PhiladelphiaCommercial buildings completed in 1895
Old City, PhiladelphiaOrganizations established in 1891
Philadelphia Bourse, Philadelphia, PA
Philadelphia Bourse, Philadelphia, PA

The Philadelphia Bourse was a commodities exchange founded in 1891 by George E. Bartol, a grain and commodities exporter, who modeled it after the Bourse in Hamburg, Germany. The steel-framed building – one of the first to be constructed – was built from 1893 to 1895, and was designed by G. W. & W. D. Hewitt in the Beaux-Arts style. Carlisle redstone, Pompeian buff brick and terra cotta were all used in the facade. The building was sold in 1979 to Kaiserman Company and underwent extensive renovations, bringing the internal usable surface to approximately 286,000 square feet (26,000 square meters). In 2016, MRP Realty took ownership of the building and spent $40 million renovating it. MRP Realty owns the building as part of a three-building collection named The Independence Portfolio, which also includes 325 Chestnut and 400 Market Street—both located within a block of The Bourse. The building is home to nine floors of office space which includes a Mexican Consulate. There is also a food hall on the first floor which opened on 15 November 2018.

Excerpt from the Wikipedia article Philadelphia Bourse (License: CC BY-SA 3.0, Authors, Images).

Philadelphia Bourse
Ranstead Street, Philadelphia Center City

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Wikipedia: Philadelphia BourseContinue reading on Wikipedia

Geographical coordinates (GPS)

Latitude Longitude
N 39.949722222222 ° E -75.148333333333 °
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The Philadelphia Bourse

Ranstead Street 111
19106 Philadelphia, Center City
Pennsylvania, United States
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call+1(215)6250300

Website
bourse-pa.com

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Philadelphia Bourse, Philadelphia, PA
Philadelphia Bourse, Philadelphia, PA
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Second Bank of the United States
Second Bank of the United States

The Second Bank of the United States was the second federally authorized Hamiltonian national bank in the United States. Located in Philadelphia, Pennsylvania, the bank was chartered from February 1816 to January 1836. The bank's formal name, according to section 9 of its charter as passed by Congress, was "The President Directors and Company of the Bank of the United States". While other banks in the US were chartered by and only allowed to have branches in a single state, it was authorized to have branches in multiple states and lend money to the US government. A private corporation with public duties, the bank handled all fiscal transactions for the U.S. government, and was accountable to Congress and the U.S. Treasury. Twenty percent of its capital was owned by the federal government, the bank's single largest stockholder. Four thousand private investors held 80 percent of the bank's capital, including three thousand Europeans. The bulk of the stocks were held by a few hundred wealthy Americans. In its time, the institution was the largest monied corporation in the world.The essential function of the bank was to regulate the public credit issued by private banking institutions through the fiscal duties it performed for the U.S. Treasury, and to establish a sound and stable national currency. The federal deposits endowed the bank with its regulatory capacity.Modeled on Alexander Hamilton's First Bank of the United States, the Second Bank was chartered by President James Madison, who in 1791 had attacked the First Bank as unconstitutional, in 1816 and began operations at its main branch in Philadelphia on January 7, 1817, managing 25 branch offices nationwide by 1832.The efforts to renew the bank's charter put the institution at the center of the general election of 1832, in which the bank's president Nicholas Biddle and pro-bank National Republicans led by Henry Clay clashed with the "hard-money" Andrew Jackson administration and eastern banking interests in the Bank War. Failing to secure recharter, the Second Bank became a private corporation in 1836, and underwent liquidation in 1841.