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On the sign:
EXCHANGE ALLEY
NAMED FOR THE "EXCHANGE BLOCK BUILDING" AT 13-27 EAST COLORADO BOULEVARD WHOSE MOST IMPORTANT BUSINESS WAS THE CARLTON HOTEL A FIRST-CLASS BUSINESS HOTEL ESTABLISHED IN 1886. ON THE FIRST FLOOR WERE HARPER & REYNOLDS HARDWARE COMPANY AND ALEXANDER CRUIKSHANKS DRY GOODS STORE, LATER KNOWN AS "THE BON ACCORD." IN 1904, THE FIRST NATIONAL BANK OF PASADENA MOVED FROM THE NORTHWEST CORNER TO THE NORTHEAST CORNER OF COLORADO BOULEVARD AND FAIR OAKS AVENUE, THEREBY LOCATING IT IMMEDIATELY SOUTH OF EXCHANGE ALLEY.
THIS HISTORICAL MARKER WAS DONATED BY: EDWARD C. TURRENTINE AND FAYE SHAPIRO