April 18, 1801
A proof of the spirit and opulence of this flourishing place, was strikingly exemplified on Saturday last, when the scheme for erecting an extensive and ornamental ranger of public buildings, and for forming a spacious square, to the Northward of the Exchange, was submitted to the public, and the subscription, amounting to £80,000 was actually filled in less than three hours after the book was opened, although no person was allowed to subscribe for more than ten shares, and we are glad to find, that very few persons availed themselves of that liberty, because the more a plan of this great public utility is diffused, the greater must be the general advantage.
By this plan it appears that a large quadrangle or area shall be formed to the Northward of the Exchange, which is intended to be in-closed on the North, East, and West sides, by a uniform range of buildings, in a style of architecture similar to that of the North front of the Exchange, so as to connect the whole under the general denomination of the Liverpool Exchange, with piazzas, streets, and avenues for the convenience of the public at large.
That one side of the square shall be appropriated to a building for the use of he merchants, brokers, underwriters, and others resorting for business to the Exchange, and will consist of two very large rooms, one above the others, together with suitable committee-rooms and other conveniences, and that one of these rooms shall be provided with newspapers and other publications proper for a commercial news room.
That such part of the buildings as is not necessary for these purposes, is intended to be laid out in the most advantageous manner for letting as offices, or for other purpose connected with trade, and the rents and income to be applied to the benefit of the subscribers, under the direction of a committee to be appointed.
Owing to the avidity of subscribers to this scheme, a very considerable number of respectable merchants and others have been disappointed obtaining admission, and in the course of the afternoon, the shares bore a premium of ten guineas; we sincerely hope, that an additional number of subscribers will be admitted, in order that the public may derive the most liberal advantage, from this great, ornamental, and laudable undertaking.
(Source: London Courier and Evening Gazette: April 23, 1801)