Seat

Again the record price for one of the 1,100 New York Stock Exchange seats has risen--from the recent price of $160,000 (TIME, Nov. 22) to $170,000. As soon as, William J. McCall sold his seat to Howard Wasserman for that sum, $175,000 was offered without attracting sellers.

It must be understood that these increasing records are only relative to the amount of business accomplished on the Stock Exchange floor. Thus, in 1914 the daily trading averaged 460 000 shares and a seat was worth $94,000, or 20-c- a share. This year the daily trading has averaged 1,548,460 shares, which (at the 20-c- rate) would make a seat worth $309,700. At $170,000 the cost of daily trading is about 11-c- a share.