Cost of Seats

"Not only in larger volume but also in larger proportion is the speculative money of the West going east," lamented Glenn Griswold in the Chicago Journal of Commerce last week. That explains the relative value of a seat on the Chicago Stock Exchange to seats elsewhere, according to his table:

EXCHANGE VALUE

New York /- 180,00 San Francisco**45,000 New York Curb 29,000 Cincinnati 11,000 Philadelphia 10,500 Boston 9,000 New Orleans 6,500 St. Louis 4,500 Detroit 4,125 Chicago /=$3,000 Cleveland 3,000 Baltimore 1,850 Pittsburgh 1,600 Louisville 1,200 Washington 800 The cause: "The Chicago Stock Exchange has been in a half-comatose condition many years simply because it has been surrounded by the narcotic atmosphere of fatalism."

The remedy: "Strengthen local leadership and administrative control" of the stock exchange

*$108,184,000 as head of its own syndicate of sellers, plus $138,250,000 in cooperation with other bond houses.

/-An error. Seats on the New York Stock Exchange have been selling for $185,000 in open dealings (TIME, Jan. 24).

**Strong because of Pacific Coast trading.

/=Price at which J. Ogden Armour recently sold his Chicago seat.