Bombay Green was a hub of cotton trading before the traders were relocated to Colaba Causeway in 1838. Thereafter, Bombay Green was lying derelict, although the Agri-Horticultural Society made some effort to convert it into a public garden. Finally, in 1863, Police Commissioner Charles Forjett proposed to convert the Green into a Circle.
The keystones at Horniman Circle are iconic for their portraits of bearded old men. Each keystone has a unique face and set expression, though they all have some common characteristics, like long beards, flowing locks of hair, deep-set eyes, and a floral ribbon tied in a knot on the head.
Other than the Asiatic Society, the Town Hall also houses the office of the Department of Registration and Stamps (Government of Mumbai) and the head office of the Directorate of Libraries (Maharashtra State), which runs the State Central Library, located inside the Town Hall.
Foundation stone for the buildings around Elphinstone Circle was laid in 1864 by Sir Bartle Frere. The Bombay Gazetteer records, ‘Old Bombay Green was purchased by the Municipality and resold by them at a profit in building lots to English mercantile firms. This gradually transformed the dusty space into an imposing example of street architecture.’