Did value of stock exchange seat drop so drastically?
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Jan 13, 2011 - ST Forum
I REFER to last Friday's article ("One more old stockbroking family bows out"), which said that Ms Gloria Lee, along with the late Mrs Nancy Lim, made history by becoming one of the first female stockbrokers.
It may be pertinent to recall some earlier background from the stockbroking scene.
In 1968, The Straits Times carried a report that the late Madam Annie Yeo held the distinction of being the first woman broker in the country. She had been a remisier with the stockbroking firm of Sena & Goh from as far back as 1957. She was also a champion swimmer who represented Singapore in the 1930s.
Mrs Lim, too, was a remisier with Ong & Co prior to setting up Lim & Tan Securities.
The article also mentioned that Ms Lee had "scraped together $700,000 in savings and bank loans and bought a seat at the stock exchange" in 1972
EG Tan and OngCo both paid a cool $1 million each to the stock exchange for their seats when they commenced operations in November 1968.
Did the value of a seat really drop by as much as 30 per cent in those few intervening years?
Narayana Narayana
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ST trying to alter history?
