76 THE WORK OF THE STOCK EXCHANGE 
were opened which extended its quarters to Exchange Place 
on New Street. In 1929 the Exchange acquired all the remain- 
ing buildings southward to Exchange Place. The accompany- 
ing plan (Figure 3) of the whole block bounded by Wall, 
Broad, and New Streets and Exchange Place, shows the 
present ground floor of the Exchange where security trad- 
ing occurs. The bond market, after a stay in the Wall Street 
addition during 1922-28, is now housed in the Exchange Place 
addition ; the rest of the floor is devoted to dealings in shares. 
In the basement beneath the Exchange trading floor are the 
offices of the Stock Clearing Corporation and the vaults of the 
Safe Deposit Company—another Stock Exchange subsidiary 
company. Above the trading halls are located the Secretary’s 
Office and other administrative offices of the Exchange, and 
also its Luncheon Club. Additional space in the Wall Street 
wing is rented to bankers, brokers, and other tenants. 
Visitors to the Exchange, when properly introduced, are 
usually taken into the Broad Street gallery to watch the Ex- 
change floor in operation. To the right arches open into the 
Wall Street addition, and on the left lies the way into the bond 
market. As one surveys the main Board Room from this 
Broad Street gallery, 12 large stock posts'® range themselves 
before him on the floor, to which only members and employees 
of the Exchange are admitted (Plate 5). The market for 
each of the share issues in which Exchange dealings are per- 
mitted, is definitely located at some particular post. Fringing 
the floor are the stalls containing hundreds of telephones, 
which connect Exchange members on the floor with their offices 
outside by private wire. From the Wall Street commission 
houses, in turn, privately leased wires extend like a fan to 
branch or correspondent offices all over the country. This is 
the mechanism whereby the purchasing and selling orders of 
the nation can be swiftly directed into the Exchange floor for 
prompt execution. 
= Appendix lle, and Chapter VI, 165