The following is an introduction to Griswold Street, Detroit's financial center of yesteryear. After reading this, your curiousity may lead you like to take a walking tour in downtown Detroit, NORTH AND SOUTH ON GRISWOLD STREET, IN SEARCH OF THE DETROIT STOCK EXCHANGE. Tour Itinerary
With the outbreak of the Civil War in 1861, Griswold Street began to evolve into the financial center of the city. This was due primarily to a number of banks that were transacting business in or about Griswold Street. For example, the First National Bank, the first bank in Detroit that was organized under the National Bank Act of 1863, opened for business in the Rotunda building on the southeast corner of Griswold and Larned streets November, 1863.
Subsequently, a number of banks and financial institutions centered their operations on Griswold: Detroit Savings Bank relocated their operations to Griswold in 1871, Second National Bank - 1863, American National Bank - 1865, Peoples Savings Bank - 1871-72, and Wayne County Savings Bank - 1876.
As time went on, investment bankers and stockbrokers also settled on Griswold Street.
The first Detroit Stock Exchange(1873) was located at 111 Griswold Street and later moved
to the Hammond building across the street. The succeeding Detroit Brokers'
Association/Detroit Stock Exchange(1907-1976), conducted business at various locations, as
you will learn on the walking tour.
Thank you for participating in the Griswold Street tour. How would you evaluate the tour: Was it educational, interesting or a bore and below expectations? Please give us your reactions by e-mailing your comments, criticisms and concerns to: ongriswold at detroitstockexchange dot com. Thank you.
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