more-in After the iconic Flora Fountain, the Brihanmumbai Municipal Corporation (BMC) and Maharashtra Tourism Development Corporation (MTDC) are planning to spruce up the Horniman Circle precinct. The cast iron fencing, fountain and garden will get a makeover and agencies will also restore some milestones in the area. Looking out at the majestic Asiatic Library, the garden is visited by residents as well as visitors. It was maintained by the Horniman Circle Garden Trust before the civic authority took over in 2016. The garden is surrounded by banks, an electronic store, a coffee shop and showrooms of big clothing brands. Steeped in history But Mumbaikars are perhaps not aware that the foundation of the city’s first stock trading activity was laid here. Towards the end of the 18th century, the area had a massive well and a big tree where cotton traders would trade their wares. Old lithographs show the well, tree and trade flourishing there. This was followed by the most elementary form of stock trading activity in the country, wherein an agent would deal in bids through hand gestures. Conservation architect Pankaj Joshi said, “The well eventually went underground. The British put a slab over it and constructed the garden. A small stock exchange started in the garden itself. This trading activity paved the way for numerous banks to set up offices here. It stopped after the advent of Dalal Street.” Mr. Joshi’s team had restored access to the underground well some years ago. They also restored a pyau outside the garden. Mr. Joshi has been appointed by the BMC as a consultant for the project. The two agencies now want to put a plaque here to commemorate the trading activity. Setting a benchmark Another fact few know is that the precinct is a benchmark for calculating distances and heights. Said Mr. Joshi, “The circle is home to the St. Thomas Cathedral, from where distances were measured and milestones installed across the city, and the town hall (the Asiatic Society library). Its first step is classified as the ‘Town Hall Datum’ for measuring relative heights of all buildings in Mumbai,” Mr. Joshi said. “We are restoring three milestones in the area, similar to the job we did in Parel. We are still in the planning stages for the circle garden and ideas are welcome. MTDC is considering a sound-and-light show there,” said a BMC officer. MTDC MD Suhas Diwase, though, said he had recently taken charge and was not aware of the project. BMC is keen on seeing the project through but it will need approval from the heritage committee as well.

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