NEW EXCHANGE IN ADELAIDE.
At the present moment two rival schemes are on foot for the establishment of a new Exchange in Adelaide. Both sets of promoters agree that one Exchange is sufficient, but neither party
will give way to the other, and each contends that the site selected by its representatives is the better one for business purposes. Both situations are out of King William-street, one being in Pirie-street and the other in Currie street, but each is easily accessible to the mer cantile community. Below we give particulars as to the two schemes, one of which is to be carried out by a proprietary already formed, and the other by a public Company, which has yet to be floated. The former is in the hands of Mr. G. Dutton Green, of the present Ex change, and seven other gentlemen, while the latter is being promoted by Mr. S. Barnard and Mr. W. F. Stock, solicitor. The first scheme of which we shall speak is the one that has been initiated by the lessees of the present (Green's) Exchange. The lease for these premises does not expire for about ten years, but the lessees, having an eye to the future and to the fine business speculation that a new and well-conducted Exchange would prove, deter mined some time ago to arrange the necessary preliminaries. They have now done this, and have obtained a long lease of the land known as King's timber-yard, in Pirie-street. The lease was taken from Messrs. H. & F. Rymill, who are partners in the new venture. The other partners are Messrs. G. D. Green, J. C. Lovely, H. L. Vosz, J. Fisher, M.L.C. W. Kay, and J. Hill. These gentlemen no doubt repre sent an important portion of the mercantile com munity, and they expect that they and others associated with them will be able to render the Exchange in Pirie-street the Ex change of the city. The size of their block of land is 300 feet frontage to Pirie-street by a depth of 130 feet. They have already secured the services of Mr. E. W. Wright, the architect, and have approved the general design for a very handsome building, having a frontage of 100 feet to the street by the full depth of the block, and to cost from £10,000 to £12,000. This portion of the build ings is to be begun as soon as the details are agreed to and tenders can be called ; and it is hoped that it will be finished within a year from the present date. Already a large number of offices in the proposed Exchange have been applied for, and when it is completed the existing Exchange will be closed for a time in order to transfer the commercial centre to Pirie-street. The new Exchange is to be a fine structure, three stories high, and no pains are to be spared to make it a success. Ships manifests and other things likely to interest the trading community are to be exhibited ; a shipping-room is to be provided, with large reading and brokers' rooms, land offices, an auction mart, and suites of offices suitable for Insurance Companies or private individuals. If found necessary, a branch telegraph oftice will also be provided. It is, however, claimed for the site that it is a very convenient one for most of the chief mercantile houses, Banks, and public offices, especially as there is a right-of-way all round the block, which will enable the apparent distances to be reduced. It is also pointed out that there will shortly be two new Clubs— the South Australian and the German Clubs— In Pirie-street, and that of late years the trading centre has tended southward. The second proposal is to form a Company to erect a commodious Hall of Commerce on the site of the Royal Horse Bazaar in Currie-street, owned by Mr. S. Barnard. The lease of the property has sixty-two years to run, and this will be transferred to tbe Company. Plans of the building which it is proposed to erect are being prepared in Mr. D. Garlick's office, and if the design of the building is carried out it will be a very handsome addition to the architecture of Currie-street. The land held by Mr. Barnard has a frontage of 80 feet to Currie-street by a depth of 210 feet, and the whole of this is to be utilized. The plans prepared show a front elevation of three stories in the Italian style of street architecture, with a small tower and look-out in the centre. The three stories will extend back eighty-two feet from the front elevation. On the ground-floor there will be an entrance hall fifteen feet wide, on each side of which there will be two offices 20 ft. x 20 ft., and 20 ft. x 13 ft. The offices on the right-hand side it is intended to use as a branch of the telegraphic department. Ascending a half dozen steps the main staircase hall, eighteen feet wide, is reached. There will be stairs on each side taking up a space of ten feet. Between this staircase and the main hall there will be seven offices and strong-rooms, and arbitration and auction rooms, each 34 ft. x 22 ft. The main hall will be 80 ft x 40 ft., and in addition to a number of offices there will be a reading room 22 ft. x 22 ft. Divided from the main hall by a right-of-way there will be a store room 30 ft x 90 ft. In the top story and the corresponding space in the second story there will be a large number of offices of different sizes. The balcony on the seccmd door over the main hall will be five feet wide, and on each side of this balcony there will be six offices. The main hall will be lighted by what is know as a lantern-light set at a height of forty feet from the floor. The right-of-way is to be built over, and this part of the building is set apart for keeper's quarters. The whole of the basement will be devoted to cellarage. Tbe front elevation is to be built of freestone, and the remainder of the building of ordinary stone. The cost of the building is estimated at £17,000. The promoters of the scheme are confident that they will have no difficulty in floating the Company, as they consider the site in Currie-street a most convenient one for business people.