Knock-Down at the Curb

Wall Street is still retrenching. The New York Curb Exchange last week announced that it had bought back 50 seats, thus cut its membership to 500. The 50 seats, at $1,000 each (1929 high: $254,000), were bought from estates of deceased members and fellow brokers who had quit the game.

To pay the pruning bill the Curb anted $25,000, member brokers the other $25,000. To make up for lost seat revenue, annual dues were upped $50 to $550, other fees and payments were likewise raised by 10%. But the fewer seats, the more business per member for those who stick it out.

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