BETWEEN THE CHAINS - SET OF 8 PEN AND INK DRAWINGS

8 individual pen and ink drawings mounted on stiff brown board of a man sitting on the chains at the Stock Exchange in various poses, depending the movement on the Exchange. Each one has a caption pencilled in underneath the drawing reflecting the mood of the day, which ranges from dull to good to strong to firm. Two of the drawings have the newspaper he is reading identified as the Rand Daily Mail, which began publication on 24 September 1902. They are all signed T.J. Duncan and dated 02 [1902], a very good set.

The caricaturist T.J. Duncan has not been identified.

The stock market in Johannesburg overflowed onto the street outside the old stock exchange building on the corner of Simmonds Street and Commissioner. After a time the authorities closed off the block between Market Street and Commissioner on Simmonds with two chains across the road so that trading could go on uninterrupted by traffic. After a time, this became part of the tradition of the Johannesburg Stock Exchange and when the JSE moved to the building on Diagonal Street, two chains were painted onto the stock exchange floor to commemorate the time when trades were done 'between the chains'.

The First Stock Exchange Building was completed in 1887, a year after the founding of Johannesburg. It was located on the corner of Simmonds and Commissioner Streets and became the hub of the young mining camp. A frenzy of trading occurred most days with people from all over the world trying to get their share of the wealth emanating from what would soon be recognised as the largest gold field on earth.

At the end of a working day investors and brokers would pour out onto the street to continue trading. Almost every book that looks at the early history of Johannesburg describes this famous scene. Brokers and mining company representatives appealed to the Mining Commissioner to block off Simmonds Street between Market and Commissioner Streets to create a private square. The appeal proved successful and the section was closed using chains hence the emergence of the iconic phrase 'Between the Chains'.

Many world famous mining firms that shaped the growth of the industry were floated at this open air exchange. Alas if you visit the site today there is no commemoration of this wonderful piece of Johannesburg history. http://www.theheritageportal.co.za/article/johannesburg-stock-exchange-buildings-over-decades