San Saba, Tex., Feb. 5, 1906.
Hon. Thomas E. Watson, Thomson, Ga.
Dear Sir: I see in the newspapers that Mr. So and So’s seat in the New York exchange is worth nearly $100,000. What is meant by that? Why is it worth so much and what do they do? Thanking you in advance for the information, I am.
Very truly yours,
⸺ ⸺.
ANSWER
The New York Stock Exchange is simply an exclusive gambling hell where very rich gamblers bet on the rise and fall of the stock of the big corporations.
The “nearly $100,000” is the entrance fee.
The reason why the price is so great is because the operations and the opportunities are so vast.