Within recent years the price has risen considerably, and as much as 95,000 gold dollars has been paid to the transferrer.

This is much higher than the price usually paid by new members in Stock Exchanges in Europe, yet when a seat becomes vacant there is no lack of purchasers.

It is clear that a seat in the "House" is very valuable to the holder.

In the building each member has a stall allotted to him where he has a telephone for his exclusive use; this enables him to communicate every transaction done in the Exchange to his business house, and to keep up connections with his constituents in other cities.

When one of his constituents, say in Washington, D.C., desires to buy a certain security the order is conveyed to him direct, and executed without delay.