Business: Lower Seats

Seats on the New York Stock Exchange rocked uncomfortably when the market declined last week. In the first sales of quarter-seats, 16 quarter-seats sold for $109,500 each, making a whole seat worth approximately $440,000. Before the recent 25% increase in the Exchange’s membership, the price of a seat had reached $625,000.

Last week there remained 270½ new seats yet to be filled. Their value will probably skip up and down with the nervous pulse of the market.