Broker Ousted

For “conduct inconsistent with just and equitable practices of trade,” Edwin H. Stern, partner in the brokerage firm of E. H. Stern & Co., was expelled from membership in the New York Stock Exchange, last week. He had made a personal profit of $1,000 in a complicated floor deal, while acting as a specialist in Manhattan Shirt stock. In 1910, Mr. Stern paid some $75,000 for his Stock Exchange seat. Now, when his seat is sold, he will receive a sum in the neighborhood of $325,000.*

*That was the last selling price of a seat. The highest was $395,000 (TIME, April 30).