The machinery of the New York Stock Exchange last week clamped down on the soul of a boy three years out of high school. Seymour N. Sears Jr., 22, of Grantwood, N. J., "floor" telephone clerk for Miller, Hewitt & Dodge, brokers, became a partner of that firm and at the same time a member of the Exchange (the youngest so distinguished). Seats on the Exchange are currently worth $395,000. Young men who "buy" them at such prices raise the money by bonding themselves and insuring their lives in favor of their creditors, and give private noi.es for the sum....
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