Notes

Seat. Two New York Stock Exchange members sold their seats last week for record prices: Bennett Schneider sold to Kenneth Walsh of San Francisco for $170,000; C. V. Hoffman to Bernard L. Mensch of Manhattan for $175,000. The previous record price was $160,000 (TIME, Dec. 6).

Life Insurance. Presidents of U.S. life insurance companies met at Manhattan last week and reported that every other person in this country now carries life insurance, that these 58,000,000 people own 108,000,000 policies, that if every policy were paid their total value would be one-third more than all the money which the U. S. population earns in a year. As an actuarial matter the presidents deplored the 1,432,000 U.S. deaths they expect this year. Last year 1,357,000 people died.

Bank. When Charles E. Mitchell became president of the National City Bank of Manhattan five years ago, its total resources were $821,000,000. By last June he had brought them to $1,281,494,000. National City was the largest bank in the U.S. But its capital structure (capital, surplus and undivided profits) of $115,000,000 were less than those of some British banks year will approximate 48,250,000 tons against 45,393,000 tons last year. Great Britian produced 7,797,000 tons last year, but will produce less than half that in 1926 on account of the coal strike. Germany also is dropping