Coal Exchange, London

Last updated

London Coal Exchange
Design model for the Coal Exchange, London, 1847.jpg
James Bunstone Bunning's design model for the Coal Exchange, held by the Royal Institute of British Architects and displayed by the Victoria and Albert Museum.
City of London UK location map.svg
Red pog.svg
London Coal Exchange
Location with the City of London
Alternative namesThe third London Coal Exchange building
General information
StatusDemolished
Type Trading exchange
Architectural style Italianate style
Location Thames Street
Town or city City of London
CountryUnited Kingdom
Coordinates 51°30′34″N0°05′01″W / 51.5094°N 0.0835°W / 51.5094; -0.0835
Construction startedDecember 1847
Completed1849
Inaugurated30 October 1849 (1849-10-30) by Prince Albert
DemolishedNovember 1962 (1962-11)
Owner Corporation of London
Technical details
Structural system Cast iron
Material Portland stone
Floor count4
Design and construction
Architect(s) James Bunstone Bunning

The London Coal Exchange was situated on the north side of Thames Street in the City of London, nearly opposite to Old Billingsgate Market, occupying three different structures from 1770 to 1962. The original coal exchange opened in 1770. A second building from 1805 was replaced by a new purpose-built structure constructed from 1847 to 1849, and opened by Prince Albert on 30 October 1849. This third London coal exchange was one of the first substantial buildings constructed from cast iron, built several years before the hall at the Great Exhibition. It was demolished in 1962 to allow widening of what is now Lower Thames Street despite a campaign by the Victorian Society to save the building. Cast iron decorations from the 1849 Coal Exchange building were selected as the model for the dragon boundary mark for the main entrances to the City of London.

Contents

Background

Exterior of the 1849 London Coal Exchange, c.1844, from Mogg's New Picture of London and Visitor's Guide to its Sights Coalexchange.png
Exterior of the 1849 London Coal Exchange, c.1844, from Mogg's New Picture of London and Visitor's Guide to its Sights

Coal had been imported to London by sea since at least medieval times. A coal exchange was established in 1770 on Thames Street in the City of London, near the site of Smart's Quay and close to Billingsgate Market; the main trades at Billingsgate Dock were fish and coal. The market was established by the main coal merchants as a private body to regulate the trade of coal in the capital, and was controlled by private coal merchants until the old Coal Exchange was bought by the Corporation of London in 1807. A new building had been built in 1805, with a recessed classical portico supported by small Doric pillars and triangular pediment above, with stone steps leading to a quadrangle within. Under the control of the City Corporation, the Coal Exchange became a free and open market, regulated by various Acts of Parliament, including Acts in 1831, 1838 and 1845.

At this period, London was heated almost entirely by coal. By 1848, approximately 3.5 million tons of coal was being transported each year from the coalfields in Northumberland and Durham to London, with over 12,000 shiploads carried on nearly 3,000 vessels. The coal trade was also an important source of tax revenue for the city. The duty on coal funded Wren's rebuilding of more than fifty city churches and St Paul's Cathedral after the Great Fire of London in 1666, and also funded for other building works in the metropolis, such as the Thames Embankment.

Historically, coal taxes, payable on each chaldron of 35 bushels or the imperial ton) were charged by the City based on volume measurements. A public measurement system, called metage, prevailed. Officials, called sea meters, measured the coal delivered from ship tp barge; others, called land meters, measured coal into standard sacks at the quayside. Monies owing to vendors, and to the Crown and City for taxes, were calculated with reference to the metage. [1] "Metage" could also referred to the public charge payable for the meter man performing his duty.

A coal duty of 4 pence was confirmed by James I, with a duty of 8 pence more added under William III and Mary II, and an additional 1 pence added to fund the construction of the new Coal Exchange. From 1831, the City of London charged a duty of 13 pence per imperial ton before coal could be unshipped, and a certificate was sent to the Coal Exchange stating the date of shipment, name and owner of the ship, quantity of coal, where it was mined, and the price paid. The coal trade was dominated by sea transport until 1845, but railway transportation increased in importance in the 1850s and 1860s, with similar quantities carried on the rails, and the coal duty was extended to coal brought within 20 miles of London by any means in 1862. By 1875, five million tons of coal were being brought to London each year by rail and three million tons by sea.

Thousands of workmen of various grades were employed to move the coal from the ships to a customer's coal cellar, with "coal-whippers" hauling baskets of coal out of the hold of a collier with a rope and pulley system into a coal merchant's lighter, and then taken onshore by "coal-backers". The coal was sorted by "coal-sifter" and put into coal-sacks by a "coal-filler", then transported by "coal-waggoners" and delivered by a "coal-trimmer". The work was heavy manual labour, but the trade was essential and workers were reasonably well paid for the period.

In the Coal Exchange, coal factors acted as agents between sellers and buyers. Factors agreed with coal sellers how much coal is available on a particular day, based on the ships available and the market price, with the market meeting on Mondays, Wednesdays and Fridays from 12 noon to 2:30 pm. All sales were agreed privately, with no public auction, and factors would take a 0.5% commission.

By 1845, a petition was made to build a new exchange, and the City Clerk of Works, James Bunstone Bunning, produced a design. Construction started in December 1847 and the new Coal Exchange was formally opened by Prince Albert on 30 October 1849. [2] The Lord Mayor and City MP, James Duke, was made a baronet in honour of the occasion.

Description

Interior of the 1805 London Coal Exchange. C.1808 Microcosm of London Plate 017 - The Coal Exchange (tone).jpg
Interior of the 1805 London Coal Exchange. C.1808

The new Coal Exchange was built on the north side of Thames Street, on the east side of its junction with St. Mary-at-Hill, with four floors. [2] A Roman hypocaust was found during the excavation of the building's foundations, part of the Roman house at Billingsgate, and preserved in its basement and is now a scheduled monument.

The south and west fronts, facing the streets, were built in Italianate style from Portland stone, with four floors, measuring 112 feet (34 m) wide and 61 feet (19 m) high. At the southwest corner was an unusual high semi-circular portico with Doric columns and entablature, surmounted by a tower of Portland stone 109 feet (33 m) high, with a conical roof topped by a gilt ball. Within the tower was a staircase providing access to the upper floors. The ground floor portico provided access to an entrance vestibule leading to a large central circular vaulted hall. The central rotunda was 60 feet (18 m) in diameter, with a wooden floor inlaid with a large mariner's compass. The rotunda was covered by a glazed cast iron dome with its centre 74 feet (23 m) above the ground, held up by 8 cast iron piers, supported by 32 ribs 42 ft 6in long. [2]

The dome design was based on that of the Bourse de commerce of Paris by François-Joseph Bélanger and François Brunet, completed in 1811. [3] The dome was decorated with "Raphaelesque" encaustic panels by Frederick Sang on a coal-related theme, depicting fossils of ferns, palms and other plants, and images of collieries and mining operations, and views of North Shields, Sunderland, Newcastle upon Tyne and Durham together, with cast iron decorative features. The piers also supported three tiers of cast iron galleries which opened on to offices around the exterior of the building which were occupied by coal factors and other agents and merchants connected with the coal trade.

Demolition

The building suffered some damage in the Second World War, and it ceased to be used as a coal exchange after the war when the coal industry was nationalised. It was then used as offices, but the City of London did not proceed with plans to refurbish the building in the 1950s because its demolition had been suggested to allow widening of the road from Blackfriars to the East End, and it became progressively more dilapidated. Nonetheless, in the 1950s, Professor Richard Hitchcock described it as "the prime city monument of the early Victorian period". In September 1956, John Betjeman (a founding member of the Victorian Society and a passionate defender of Victorian architecture) gave a speech to the Society for the Protection of Ancient Buildings in the rotunda of the Coal Exchange to argue for its preservation. It became a Grade 2 listed building in 1958. A letter published in The Times and signed by Walter Gropius, Sigfried Giedion, Josep Lluís Sert and Eduard Sekler described the Coal Exchange as "a landmark in the history of early iron construction".

Various alternatives were proposed. The Georgian Group and the Victorian Society both favoured preservation of the Coal Exchange, even if that meant that the "very dull, plain and ordinary" rear parts of the nearby Grade-1 listed Custom House (then the headquarters of HM Customs & Excise) were removed. Others suggested a scheme in which a walkway would be added in arches under the Coal Exchange. There was also a suggestion that the dome could become part of the new Royal School of Music in the Barbican, or shipped to Australia to become part of the National Gallery of Victoria in Melbourne, but funds were not available.

MP Tom Driberg made a speech in an adjournment debate in February 1961, quoting a statement by Sir Mortimer Wheeler published in The Times the previous day, saying that "Professor Pevsner has placed the threatened London Coal Exchange among the twelve irreplaceable buildings of 19th century England ... It expresses an era of urban revolution as no other surviving building is capable of doing ... The Coal Exchange is a national monument in the fullest sense of the phrase, and its destruction would be unforgivable."

The Corporation was uncooperative, and declined to allow any respite. One member remarked that "We cannot spend time on the preservation of a Victorian building".[ citation needed ]

Despite campaigns and protests, it was demolished in November 1962 to make way for a "vital" widening of Lower Thames Street. The demolition of the Coal Exchange was described by author Hermione Hobhouse as "one of the great conservationist horror stories" and its loss has been compared to the demolition of the Adelphi in 1936 and of Euston Arch shortly before, in 1961. The cleared site was then left empty for 10 years while other land was acquired for the road widening scheme.

Cast iron dragons which were mounted on the eaves parapet above the entrance to the Coal Exchange were preserved and were erected as dragon boundary marks in October 1963 in Temple Gardens on Victoria Embankment. Half-sized replicas were erected at the other main entrances to the City, in preference to the more fierce dragon at Temple Bar.

See also

Related Research Articles

<span class="mw-page-title-main">Smithfield, London</span> Human settlement in England

Smithfield, properly known as West Smithfield, is a district located in Central London, part of Farringdon Without, the most westerly ward of the City of London, England.

<span class="mw-page-title-main">Billingsgate</span> Ward of the City of London

Billingsgate is one of the 25 Wards of the City of London. This small City Ward is situated on the north bank of the River Thames between London Bridge and Tower Bridge in the south-east of the Square Mile.

<span class="mw-page-title-main">Royal Exchange, London</span> Historic commercial building in London; built in 1571, rebuilt in 1844

The Royal Exchange in London was founded in the 16th century by the merchant Sir Thomas Gresham on the suggestion of his factor Richard Clough to act as a centre of commerce for the City of London. The site was provided by the City of London Corporation and the Worshipful Company of Mercers, who still jointly own the freehold. The original foundation was ceremonially opened by Queen Elizabeth I who granted it its "royal" title. The current neoclassical building has a trapezoidal floor plan and is flanked by Cornhill and Threadneedle Street, which converge at Bank junction in the heart of the city. It lies in the Ward of Cornhill.

<span class="mw-page-title-main">Billingsgate Fish Market</span> Fish market in Poplar in London, England

Billingsgate Fish Market is located in Poplar in London. It is the United Kingdom's largest inland fish market. It takes its name from Billingsgate, a ward in the south-east corner of the City of London, where the riverside market was originally established. In its original location in the 19th century, Billingsgate was the largest fish market in the world.

<span class="mw-page-title-main">Old Billingsgate</span> Victorian-era building in London, England

Old Billingsgate Market is the name given to what is now a hospitality and events venue in the City of London, based in the Victorian building that was originally Billingsgate Fish Market, the world's largest fish market in the 19th century.

<span class="mw-page-title-main">Alabama State Capitol</span> State capitol building of the U.S. state of Alabama

The Alabama State Capitol, listed on the National Register of Historic Places as the First Confederate Capitol, is the state capitol building for Alabama. Located on Capitol Hill, originally Goat Hill, in Montgomery, it was declared a National Historic Landmark on December 19, 1960. Unlike every other state capitol, the Alabama Legislature does not meet there, but at the Alabama State House. The Capitol has the governor's office and otherwise functions as a museum.

<span class="mw-page-title-main">Tweed Courthouse</span> Historic courthouse in Manhattan, New York

The Tweed Courthouse is a historic courthouse building at 52 Chambers Street in the Civic Center of Manhattan in New York City. It was built in the Italianate style with Romanesque Revival interiors. William M. "Boss" Tweed – the corrupt leader of Tammany Hall, a political machine that controlled the New York state and city governments when the courthouse was built – oversaw the building's erection. The Tweed Courthouse served as a judicial building for New York County, a county of New York state coextensive with the New York City borough of Manhattan. It is the second-oldest city government building in the borough, after City Hall.

<span class="mw-page-title-main">Cast-iron architecture</span> Buildings that make extensive use of cast iron in their structures

Cast-iron architecture is the use of cast iron in buildings and objects, ranging from bridges and markets to warehouses, balconies and fences. Refinements developed during the Industrial Revolution in the late 18th century made cast iron relatively cheap and suitable for a range of uses, and by the mid-19th century it was common as a structural material, and particularly for elaborately patterned architectural elements such as fences and balconies, until it fell out of fashion after 1900 as a decorative material, and was replaced by modern steel and concrete for structural purposes.

<span class="mw-page-title-main">United States Capitol dome</span> Dome situated above the rotunda of the United States Capitol

The United States Capitol features a dome situated above its rotunda. The dome is 288 feet (88 m) in height and 96 feet (29 m) in diameter. Designed by Thomas U. Walter, the fourth Architect of the Capitol, it was constructed between 1855 and 1866 at a cost of $1,047,291.

<span class="mw-page-title-main">Coal-tax post</span> Boundary marker posts in southern England

Coal-tax posts are boundary marker posts found in southern England. They were erected in the 1860s and form an irregular loop between 12 and 18 miles from London to mark the points where taxes on coal were due to the Corporation of London. There were originally around 280 posts of which around 210 remain.

<span class="mw-page-title-main">19th-century London</span> London-related events during the 19th century

During the 19th century, London grew enormously to become a global city of immense importance. It was the largest city in the world from about 1825, the world's largest port, and the heart of international finance and trade. Railways connecting London to the rest of Britain, as well as the London Underground, were built, as were roads, a modern sewer system and many famous sites.

<span class="mw-page-title-main">Barton Arcade</span> Victorian shopping arcade in Manchester, England

Barton Arcade is a Victorian shopping arcade in Manchester, England, located between Deansgate and St Ann's Square. It was constructed by Corbett, Raby, and Sawyer in 1871.

<span class="mw-page-title-main">Cardiff Docks</span> Port in Wales, UK

Cardiff Docks is a port in southern Cardiff, Wales. At its peak, the port was one of the largest dock systems in the world with a total quayage of almost 7 mi (11 km). Once the main port for the export of South Wales coal, the Port of Cardiff remains active in the import and export of containers, steel, forest products and dry and liquid bulks.

The Custom House in Boston, Massachusetts, was established in the 17th century and stood near the waterfront in several successive locations through the years. In 1849 the U.S. federal government constructed a neoclassical building on State Street; it remains the "Custom House" known to Bostonians today. A tower was added in 1915; the building joined the National Register of Historic Places in 1973 and was designated a Boston Landmark by the Boston Landmarks Commission in 1986.

<span class="mw-page-title-main">Ottumwa Public Library</span> United States historic place

Ottumwa Public Library is a public library located in downtown Ottumwa, Iowa, United States. The current building was built in 1901. It is part of the Central Park area, which is the civic center of the community. It includes the Wapello County Courthouse, Ottumwa City Hall, and St. Mary of the Visitation Catholic Church. The library was listed on the National Register of Historic Places in 1984.

<span class="mw-page-title-main">Dragon boundary mark</span> Type of sculpture marking boundaries of the City of London

The dragon boundary marks are cast iron statues of dragons on metal or stone plinths that mark the boundaries of the City of London. The dragons are painted silver, with details of their wings and tongue picked out in red. The dragon stands on its left rear leg, with the right rear leg lifted forward to support a shield, with the right foreleg raised and the left foreleg holding the top of the shield. The shield bears the City of London's coat of arms painted in red and white: the red cross of St George on a white background, with a red sword in the first quarter referring to the reputed beheading of Saint Paul. Saint George and Saint Paul are respectively the patron saints of England and of London. The dragon's stance is the equivalent of the rampant heraldic attitude of the supporters of the City's arms, which may allude to the legend of Saint George and the Dragon.

<span class="mw-page-title-main">James Bunstone Bunning</span> English architect

James Bunstone Bunning was an English architect. He held the post of architect to the City of London from 1843 until his death, and is probably best remembered for his design for the Coal Exchange.

<span class="mw-page-title-main">Bourse de commerce (Paris)</span> Commodity market

The Bourse de commerce is a building in Paris, originally used as a place to negotiate the trade of grain and other commodities, and used to provide services to businesses by the Paris Chamber of Commerce during the latter part of the 20th century. It has its origins in a circular wheat exchange built in 1763–67, with an open-air interior court that was later capped by a wooden dome replaced in 1811 with a copper one. In a major reconstruction in 1888–89 much of the structure was replaced, although the layout remained the same and the dome was retained albeit adding glass and a mounted canvas.

<span class="mw-page-title-main">Halle aux blés (Paris)</span> Wheats or Grains exchange in Paris , France

The Halle aux blés was a circular building in central Paris used by grain traders built in 1763–1767, with an open-air interior court that was capped by a wooden dome in 1783, then by an iron dome in 1811. In a major reconstruction in 1888–1889 much of the structure was replaced and the building became the Bourse de commerce.

<span class="mw-page-title-main">Corn exchanges in England</span> Commodity trading halls in England

Corn exchanges are distinct buildings which were originally created as a venue for corn merchants to meet and arrange pricing with farmers for the sale of wheat, barley, and other corn crops. The word "corn" in British English denotes all cereal grains, such as wheat and barley. With the repeal of the Corn Laws in 1846, a large number of corn exchanges were built in England, particularly in the corn-growing areas of Eastern England.

References

  1. Velkar 2008, p. 282.
  2. 1 2 3 "Victorian London - Buildings, Monuments and Museums - Coal Exchange". www.victorianlondon.org. Retrieved 7 November 2018.
  3. Bourse de Commerce – Structurae.

Sources