[Finance]
Tontine Coffee-House Subscription Receipt
New York, January 14th, 1793. Original printed receipt with filled-in manuscript, for "Mr. Peter Allaire...the Sum of Ten Pounds on acc(oun)t. of his Subscription, towards building a Coffee-House on a Tontine Plan. By Order of the Committee, David Grim". Signed "P. Allaire" on verso. Printed by Childs & Swaine. 3 3/4 x 6 3/4 in. (95.2 x 171.4mm). Lightly foxed. Included in this lot is a printed document, "Statement of the Proceeds of the Exchange Coffee-House from 27th March, 1810 to 27th March, 1811 (Boston, MA). 7 1/2 x 12 1/2 in. (190 x 317mm). Docketed on verso, "Ex. Coffee House Statement". Including three 19th century views of the Coffee-House.Subscription receipt for the building of the future Tontine Coffee-House, then still under construction, and signed by the building's construction supervisor, and original subscriber, David Grim (1737-1826). The only known example of a document of its kind, marking the rise of New York as a financial powerhouse as well recording the birth of the New York Stock Exchange.
The Tontine Coffee-House (1792-1855) served as the official gathering place for New York City's merchant community, housing the securities exchange that would eventually become the New York Stock Exchange. Organized by the Tontine Association, it was built between 1792-1794 on the northwest corner of Wall and Water Streets. The Coffee-House established funds by selling 203 shares at £200 apiece to 157 members. Operating under a tontine investment plan, shareholders were entitled to an equal division of profits derived from the operations of the building. Upon the death of a shareholder, their profits reverted to the remaining members until seven remained, at which point the associaiton was dissolved. In 1825 trading was moved to a larger headquarters on Wall St., and the Coffee-House functioned as a tavern until it was demolished in 1855.

Peter Allaire (1740-1820), respected New York merchant, was infamously known for his also being a British spy during the American Revolution. He was jailed in the Bastille in February 1780 for purportedly trying to poison Benjamin Franklin with tainted madeira (see Claude-Anne Lopez, "The Man Who Frightened Franklin"). Released in May of that year, he was expelled from France and eventually made his way back to the Colonies. After the war he moved his family to Canada with the assistance of the British government. His activities as a British agent continued into the 1790's, with attempts to foment unrest on the frontier by encouraging separatist movements. He returned to New York in the 1790's, resuming his activities as a merchant.