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Topping out

 

Term denoting a market or a security that is at the end of a period of rising prices and can now be expected to stay on a plateau or even to decline.

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Wikipedia: Topping out
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Topping off the Liberty Hotel in Boston, Massachusetts in 2007.

In building construction, topping out, or topping off, is a ceremony held when the last beam is placed at the top of a building. The term may also refer to the overall completion of the building's structure, or an intermediate point, such as when the roof is dried in[1]. A topping out ceremony is usually held to commemorate the event.

While common in England, Germany and Poland, the origins of the ceremony are obscure. Its practice has long been an important component of timber frame building[2]. This tradition migrated to America with European craftsman. A tree or leafy branch is placed on the topmost beam, often with flags and streamers tied to it. A toast is usually drunk and sometimes the workmen are treated to a meal. The ceremony has also been common in the United States when a skyscraper is completed. The last beam to be hoisted is painted white and signed by all the workmen involved. In other types of building, the ceremony typically focuses on the bedding of the last block of masonry or brick. The ceremony is akin to the practice of placing a newspaper or coins under the foundation stone of a building.

Contents

History

The practice of "topping out" a new building can be traced to the ancient Scandinavian religious practice of placing a tree on the top of a new building to appease the tree-dwelling spirits of their ancestors that had been displaced. The practice migrated to England with Scandinavian invaders and took root there.

Topping off ceremony

Topping out - symbol of this tradition in Poland

Today, a non-religious but formal ceremony is often held to commemorate this milestone in the construction of a building. All tradesman on the job usually join in the celebration as well as the supervisors, representatives of the architecture and engineering firms, the owner or representatives of the owning organization, donors, and any VIPs that are invited. The ceremony is often parlayed into a media event for public relations purposes[3].

While the ceremony itself has no standard agenda, it usually includes the placing of an evergreen tree upon the structure to symbolize growth and bring luck. State and national flags are often raised atop the structure. It may take place during lunch time and can include a catered meal and entertainment. In large building construction, the topping out beam may be signed by the ironworker crew, or by local dignitaries depending on the importance of the building. Ironworkers may take this as an opportunity to publicize their union local. The beam is signed on the ground before it is hoisted into place by crane. The height of the ceremony takes place when the piece of steel is lifted into place and secured (although not completely). Often, the final piece of steel has little or no structural significance to the structure. After the ceremony is over, the piece of steel will be completely secured.

The topping out ceremony is similar to ship naming and launching ceremonies and probably of similar antiquity, and was perhaps done to placate the gods and to shield the building from harm.

See also

Notes

  1. ^ Drying In, Part 2, November 6, 2009]
  2. ^ Topping Off the Frame, November 26, 2008
  3. ^ The Hoary Tradition of Topping Out. The New York Times, October 21, 1984

References


 
 
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Financial & Investment Dictionary. Dictionary of Finance and Investment Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved.  Read more
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