Broker Horace Leslie Hotchkiss Jr. of the New York Stock Exchange decided to retire and last week sold his Exchange seat for $300,000temporarily the record price.
He joined the Exchange in 1890 when seats were worth $17,000 to $22,500. Therefore his profit approximates $280,000 or 1,200%.
Last week also Donald S. Pourch, New York Curb Market broker, sold his membership to William E. Edmonds Jr. for $45,000a record Curb price.
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