Index

Seat. A seat on the New York Stock Exchange has appreciated in value from a 1927 high of $305,000 to a 1928 high of $595,000, to a current 1929 quotation (last week) of $620,000.

Fruits, vegetables. Trading in futures (raw silk, rubber, cocoa, not yet harvested) permits the producer and buyer to protect himself against unforeseen crop disasters. The Chicago Mercantile Exchange offers this hedging-by-speculation privilege in butter and eggs only. Last week its members considered new commodity admissions--other milk products, vegetables, fruits, canned foods. Cheesemakers, potato and apple growers, canners would, they argued, enjoy the financial protection against plant and animal scourges. Chicago commodity brokers would, obviously, enjoy increased commissions.

Newspapers. Anglo-Foreign Newspapers Ltd., a $15,000,000 holding company was formed last week in London, to acquire a group of British and continental newspapers. Chairman Harry S. Home will scout for French and German dailies. Vice-chairman Sir Robert Donald, onetime editor of the Daily Chronicle, will investigate possible British acquisitions.