The Tontine Building of 1850
Northwest corner of Wall and Water Streets; an omnibus of the Broadway-Wall-Street Ferry line is passing
The Tontine Coffee House
The last of the celebrated coffee houses of New York bore the name, Tontine coffee house. For several years after the burning of the Merchants coffee house, in 1804, it was the only one of note in the city.
Feeling that they should have a more commodious coffee house for carrying on their various business enterprises, some 150 merchants organized, in 1791, the Tontine coffee house. This enterprise was based on the plan introduced into France in 1653 by Lorenzo Tonti, with slight variations. According to the New York Tontine plan, each holder's share reverted automatically to the surviving shareholders in the association, instead of to his heirs. There were 157 original shareholders, and 203 shares of stock valued at £200 each.
