In the year 1750, the Exchange coffee house had begun to lose its long-held prestige, and its name was changed to the Gentlemen's Exchange coffee house and tavern. A year later it had migrated to Broadway under the name of the Gentlemens' coffee house and tavern. In 1753 it was moved again, to Hunter's Quay, which was situated on what is now Front Street, somewhere between the present Old Slip and Wall Street. The famous old coffee house seems to have gone out of existence about this time, its passing hastened, no doubt, by the newer enterprise, the Merchants coffee house, which was to become the most celebrated in New York, and, according to some writers, the most historic in America.
It is not certain just when the Merchants coffee house was first opened. As near as can be determined, Daniel Bloom, a mariner, in 1737 bought the Jamaica Pilot Boat tavern from John Dunks and named it the Merchants coffee house. The building was situated on the northwest corner of the present Wall Street and Water (then Queen) Street; and Bloom was its landlord until his death, soon after the year 1750. He was succeeded by Captain James Ackland, who shortly sold it to Luke Roome. The latter disposed of the building in 1758 to Dr. Charles Arding. The doctor leased it to Mrs. Mary Ferrari, who continued as its proprietor until she moved, in 1772, to the newer building diagonally across the street, built by William Brownejohn, on the southeast corner of Wall and Water Streets. Mrs. Ferrari took with her the patronage and the name of the Merchants coffee house, and the old building was not used again as a coffee house.
The building housing the original Merchants coffee house was a two-story structure, with a balcony on the roof, which was typical of the middle eighteenth century architecture in New York. On the first floor were the coffee bar and booths described in connection with the King's Arms coffee house. The second floor had the typical long room for public assembly.
During Bloom's proprietorship the Merchants coffee house had a long, hard struggle to win the patronage away from the Exchange coffee house, which was flourishing at that time. But, being located near the Meal Market, where the merchants were wont to gather for trading purposes, it gradually became the meeting place of the city, at the expense of the Exchange coffee house, farther down the waterfront.
Merchants Coffee House (at the Right) as It Appeared from 1772 to 1804
The original coffee house of this name was opened on the northwest corner of Wall and Water Streets about 1737, the business being moved to the southeast corner in 1772
Widow Ferrari presided over the original Merchants coffee house for fourteen years, until she moved across the street. She was a keen business woman. Just before she was ready to open the new coffee house she announced to her old patrons that she would give a house-warming, at which arrack, punch, wine, cold ham, tongue, and other delicacies of the day would be served. The event was duly noted in the newspapers, one stating that "the agreeable situation and the elegance of the new house had occasioned a great resort of company to it."
Mrs. Ferrari continued in charge until May 1, 1776, when Cornelius Bradford became proprietor and sought to build up the patronage, that had dwindled somewhat during the stirring days immediately preceding the Revolution. In his announcement of the change of ownership, he said, "Interesting intelligence will be carefully collected and the greatest attention will be given to the arrival of vessels, when trade and navigation shall resume their former channels." He referred to the complete embargo of trade to Europe which the colonists were enduring. When the American troops withdrew from the city during the Revolution, Bradford went also, to Rhinebeck on the Hudson.