Trade Exchanges

P:President Sidney L. Schwartz of the San Francisco Stock & Bond Exchange, second largest in the country, last week reviewed the 45 years' history of the exchange. It was founded in 1882 and in the first year handled $9,490,621 worth of securities. Its monthly transaction now approach half a billion dollars ($429,298,882 last September, the end of its fiscal year). The industrial development of the entire Pacific coast has helped the 66 exchange members. California's manufacturers rank eighth in value for the U. S.; its agricultural products third. Oil stocks have heretofore constituted a great portion of the members' business. Now the exchange seeks more varied securities. A recent sale of a seat brought $80,000.

P:A Chicago Stock Exchange seat was sold last week for $16,500, the local record. The exchange will move into its new rooms in the State Bank of Chicago building next spring.

P:Members of the Chicago Board of Trade (grain marketing) last week voted to erect a $10,000,000 building of 40 stories. One member sold his seat last week for $10,000, highest sale price since 1919. That year seats were worth $11,100. P:Again, a buyer for a New York Curb Exchange seat paid a new record price, $65,000. Trader William A. Scott bought it last week. A fortnight ago the record was $45,000 (TIME, Dec. 5).

P:And the price of a New York Stock Exchange seat jumped $5,000, from the $300,000 paid a week ago to $305,000 paid last week.