WALL STREET: Installment Plan

Most U.S. businessmen learned long ago that the best way to build business is through big volume on small margins of profit. But New York Stock Exchange members, whose lives revolve about the facts of business in general, missed the point when it came to their own offices. Troubled by higher costs in 1947, they raised their commissions. But in the last three years, volume has shrunk from a daily average of about 2,000,000 shares to less than 1,500,000.

Last week Exchange members, voting on a proposal to increase commissions another 15%, turned it down by a vote of 573-532....

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