cost at present more than $100,000. About ten years ago a seat could be bought for $77,000.
The Stock Exchange is ruled by a Governing Com¬ mittee of 40 members. For many years no Jew was elected to this Committee. Of recent years, an occa¬ sional Jewish broker has succeeded in being admitted to this upper group, but not often. This position, however, has not been the main objective of Jewish traders. When they secure a sufficient number of seats on the Exchange, they will take care of the mat¬ ter of control in their own well-known way.
The two barriers which at present operate to pre¬ vent a large inroad of Jews are these: first, a silent resistance on the part of the other members against the JEW VERSUS NON-JEW IN NEW YORK FINANCE 37 admission of Jews, a resistance which is said to date from the earliest formation of this famous trading institution. And, second, the restrictions which are placed by the constitution of the Stock Exchange itself on all applications for membership.