1884 Houston Cotton Exchange Building

The cotton industry has played a vital role in the development of Texas and the city of Houston. Jared Groce, one of the earliest settlers of Texas, came with over 100 slaves in 1821 and began to grow cotton on his plantation near Hempstead, The first cotton gin was built at Groce's landing in 1825.

When Houston became a city in 1837, it logically became an important collection point for interior cotton. Cotton factors and itinerant buyers became important businessmen and were also often commission merchants, importers, and quasi-bankers. Many of the earliest fortunes in Houston arose from marketing cotton and related functions.

From 1837, when the Texas cotton crop amounted to 50,000 bales, until 1860, when 115,000 bales were produced, the importance of cotton gradually increased. During the Civil War, the production of cotton declined, but by 1867, the county had recovered sufficiently, and a Houston Board of Trade was established.

Although there were trading rules in effect, the local cotton men realized that they needed better regulations for the protection of both buyer and seller, and on May 15, 1874, the Board of Trade and Cotton Exchange was organized at a meeting in the offices of the Planter's Insurance Company. In June, 1877, the Houston Cotton Exchange and Board of Trade was chartered.A principal project of the Houston Cotton Exchange was the development of communications, including the Houston ship channel, railroad and telegraph lines.

On January 15, 1882, a general meeting of the members of the Exchange was held to discuss the construction of a Cotton Exchange building, and on May 29, 1883, the Exchange authorized the purchase of a site on the southwest corner of Travis and Franklin streets. Eugene Heiner was designated as architect and sent east to inspect similar structures and select building materials. His plans were accepted January 4, 1884. About March 1, 1884, the Exchange borrowed $40,000 for ten years to finance construction, and on March 15. 1884, the contract was let to Max Kosse. The cornerstone was laid by the Masons on June 9, 1884, and the building was completed November 15, 1884.

The structure was described as being constructed of red pressed Philadelphia brick with white sandstone coping and trimming. From a newspaper description of the building it would appear that the two-story trading floor occupied most of both the second and third floors. Later the building was remodeled, and the trading floor was installed on the first floor above the basement. This work took place about 1907, and in 1910, a fourth floor was added and the central doorway moved to the side. The property at that time was estimated to be worth $225,000.

By 1922 the building was no longer large enough to house the activities of the Exchange and the structure was sold. After a succession of owners, the building is presently unoccupied and is currently for sale.