Portraits at the Stock Exchange

Degas painted this scene at the Paris Bourse around 1878. He was in his mid-forties, living in Paris, and producing the work that would define his reputation: ballet dancers, jockeys, laundresses, and scenes of modern city life. The Stock Exchange is one of his few paintings of the financial world. A group of men in top hats and dark coats stand in a tight cluster on the floor of the Bourse. They lean toward each other, talking, their faces partly hidden by the brims of their hats. One man at the center has his back to the viewer. Another, at the right, looks out at us with a sharp, appraising expression. The composition is cropped at the edges, as if Degas had walked up to the group and started drawing. Figures are cut off at the left and right, which gives the scene the feel of a snapshot. Degas worked in pastel on paper, laid down on canvas. Pastel allowed him to work quickly and to build the faces in layers of color. The dark suits are built in blacks and browns with touches of blue. The faces are warm pinks and yellows against the dark clothing. The background is a blur of architectural detail, barely indicated, which pushes the figures forward. The painting is sometimes called 'At the Stock Exchange' or 'Portraits at the Stock Exchange.' The figures are identifiable as specific businessmen of the Paris financial world, though their names are debated. The man at the right with the sharp gaze may be Ernest May, a banker and collector who was a friend of Degas. If so, Degas painted him with neither flattery nor malice, just with the cold observation he brought to all his subjects. Pastel on paper, 72 by 58 centimeters, roughly 28 by 23 inches. Degas used short, overlapping strokes to build the faces and hands, and broader strokes for the clothing and background. The hats are painted in solid black with a few touches of blue for the highlights. This print works in an office or study, where the subject of finance and business suits the setting. The dark palette and portrait format pair with dark wood furniture, leather chairs, and brass desk accessories. The 16x20 framed version gives the faces enough detail to read clearly. In a larger space, the 18x24 size adds presence. The painting entered the Met's collection in 1991 as a gift from Janice H. Levin.