Memphis Cotton Exchange is located in downtown Memphis, Tennessee, United States, on the corner of Front Street and Union Avenue. It was founded in 1874 as a result of the cotton market that grew up in Memphis, where trading was strong after the American Civil War.
Video Memphis Cotton Exchange
Histori & amp; lokasi
The Memphis Cotton Exchange was founded in 1874. The cotton trader at the time became aware of the necessity of the trade organization to regulate the marketing of cotton in the city. They are also aware of the many benefits gained by the New York Cotton Exchange and New Orleans Cotton Exchange. Once established, exchanges produce regulations and regulations on cotton trade and set standards for buying and fixing cotton prices in Memphis and mid-South. This exchange develops methods for assessing the approved cotton members. It operated as a "spot market" and never developed futures trading except for two short experiments. The exchange was developed as a source of information about the world market, and cotton traders found they had to join as members to compete. The exchange also promotes "Memphis cotton" in key markets such as New York and London.
For the time being, the Cotton Exchange took place in what is now called the Exchange Building, built in 1910 at 9 North Second Street in Memphis. The high 20 storey Exchange Building accommodates Cotton and Trader exchange for a period. Since the decline of exchanges in the late 20th century with economic diversification, has been renovated for use as an apartment building.
When the exchange decides to have a separate location, the Memphis Cotton Exchange has a multi-story building built on Union Avenue; The Cotton Exchange Building opened in 1922. Cotton trade was done on the first floor, and only exchange members were allowed to trade there. In 1978, trading floors closed in favor of computer trading. The historic floor has been renovated and is now home to The Cotton Museum; It is used to educate the public about industrial and cotton farming, commodity crops that built the city's wealth of Memphis for decades.
Maps Memphis Cotton Exchange
President of the Memphis Cotton Exchange
References
External links
- Official website
Source of the article : Wikipedia
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