New Orleans Cotton Exchange
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| New Orleans Cotton Exchange Building | |
|---|---|
| (U.S. National Historic Landmark) | |
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| Location: | 231 Carondelet St., New Orleans, Louisiana |
| Coordinates: | Coordinates: |
| Built/Founded: | 1921 |
| Architect: | Selden-Breck Construction Co.; Favrot & Livaudais Ltd. |
| Architectural style(s): | Chicago, Other |
| Designated as NHL: | December 22, 1977[1] |
| Added to NRHP: | December 22, 1977[2] |
| NRHP Reference#: | 77000675 |
| Governing body: | Private |
The Cotton Exchange was established in New Orleans, Louisiana, in 1871 on the corner of Carondelet and Gravier Streets. The New Orleans Cotton Exchange Building is a National Historic Landmark.
The Cotton Exchange was conceived and financed by a group of cotton merchants with support from bankers at a time when fully one-third of the entire production of cotton the United States was sent to New Orleans. The Exchange wanted to bring order to what was a highly speculative and often erratic pricing system by providing a centralized trading office where people involved in the business could obtain information about market conditions and prices. As well as trading, the Exchange established standards for classification and facilitated payments between buyers and sellers.
The renowned French artist Edgar Degas painted the picture seen here of the Cotton Exchange in 1873 while visiting his mother's Louisiana relatives.
The Exchange enhanced New Orleans' position of prominence in the world cotton trade and the city hosted the 1884 World's Fair called the World Cotton Centennial. It was similar in function to the Memphis Cotton Exchange and the New York Cotton Exchange.
The original Cotton Exchange Building was replaced with a new larger one built in 1920-1921.
Over time, federal commerce regulations and changing business practices eliminated the need for the Cotton Exchange and it closed on July 9, 1964.
The building was declared a National Historic Landmark in 1977.[1][3]
Today, the building is home to The Cotton Exchange Hotel.
[edit] References
- ^ a b New Orleans Cotton Exchange Building. National Historic Landmark summary listing. National Park Service. Retrieved on 2008-01-30.
- ^ National Register Information System. National Register of Historic Places. National Park Service (2007-01-23).
- ^ Ralph J. Christian (June, 1977), National Register of Historic Places Inventory-Nomination: New Orleans Cottong Exchange BuildingPDF (759 KiB), National Park Service
[edit] See also
[edit] External links
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