Board of Trade Building

Infobox_nrhp | name =Board of Trade Building
nrhp_type =


caption = Board of Trade Building, 2008
location= 111 W. 7th St., Los Angeles, California
lat_degrees = 34
lat_minutes = 2
lat_seconds = 39
lat_direction = N
long_degrees = 118
long_minutes = 15
long_seconds = 5
long_direction = W
locmapin = California
area =
built =1929
architect= Claud Beelman and Alexander Curlett,
architecture= Classical Revival, Beaux Arts
added = January 24, 2008
governing_body = Private
refnum=07001439cite web|url=http://www.nr.nps.gov/|title=National Register Information System|date=2008-04-15|work=National Register of Historic Places|publisher=National Park Service]

Board of Trade Building is a historic building in Downtown Los Angeles that was opened in 1929. Located at the northwest corner of Main Street and Seventh Street, the building was designed by Claud Beelman and Alexander Curlett in the Beaux Arts style with Neoclassical influence. [cite web|title=Board of Trade Building|publisher=State of California Office of Historic Preservation|date=2008|url=http://ohp.parks.ca.gov/listed_resources/default.asp?num=N2383] The building was listed in the National Register of Historic Places in 2008 and is one of more than ten Claud Beelman buildings included in the National Register.Upon completion, the building had convert|230000|sqft|m2 of space and fourteen stores on the ground floor, with the remainder of the building utilized for offices.cite news|title=Three Buildings in Downtown District Sold|publisher=Los Angeles Times|date=1945-01-31] The building was the headquarters for the new California Stock Exchange starting in January 1930. [cite news|title=New Exchange to Open Here in Ninety Days|publisher=Los Angeles Times|date=1929-05-09] The exchange's trading floor, located on the building's second floor, was patterned after the New York Stock Exchange, measured 89 by convert|90|ft|m and was designed to accommodate 300 brokers.cite news|title=Trading Room Almost Completed: Patterned After New York Exchange Floor|publisher=Los Angeles Times|date=1929-06-09] The exchange also included six trading posts with price indicators for 384 issues, a clearing-house, visitors' gallery, smoking-room for members, private offices for executives, committee rooms and locker rooms. The first trade recorded on the exchange in January 1930 involved 100 shares of "Bolsa Chica Oil 'A'." [cite news|title=New Exchange Makes Bow: First Trading Session California Stock Mart Results in Turnover of 1335 Shares|publisher=Los Angeles Times|date=1930-01-16]

The Board of Trade Building was the first on the Pacific Coast to be built with automated elevators that stopped automatically on the floors where buttons were pressed, and without the need for an operator in the elevator car. [cite news|title=Announces New System in Elevator: High-Speed Lifts in Board of Trade Building Declared Innovation on Pacific Coast|publisher=Los Angeles Times|date=1926-02-21 "An elevator system, believed to be an entirely new innovation in Pacific Coast office buildings, is now being installed in the Board of Trade Building ... The four high-speed elevators are equipped with signal control. The entire operation, as far as stopping at floors is concerned, is accomplished automatically by the elevator controller, irrespective of the operator of the car."]

In 1945, the Board of Trade Building was purchased for $1,250,000 by a syndicate represented by Gray Phelps & Co.

Like many of the old buildings in Downtown Los Angeles, the building has been converted into live/work lofts.

ee also

*List of Registered Historic Places in Los Angeles
*Claud Beelman

References