New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-12-13
WALL STREET SANTA LEAN
Brokers Feel Poor, So Christmas
Will Be Cherries for Clerks.
NO BONUSES; CUT SALARIES
Some Employees to Go-Funds OF
Exchanges Will Be Meagre
and Usual Fun Doleful.

It is going to be q lean Christmas this
year for the clerks and other employees OF
the various brokerage houses In Wall
Street Business In the stock market has
been SO dull most of the year that the
profits of ali the brokerage houses have
been materially cut down. and many of
them. II is said, have barely made ex-
penses.
Several of the leading Stock Exchange
houses have already notified their en-
ployes that they need expect nothing in the
way Of bonuses this Christmas, and as a
result Of the hard times number Of
firms have found 1t necessary to reduce
salaries and cut down the size Of their
Office stats.
In years when business has been good
the employees Of a majority of the broker
age houses have received Christmas bo-
muses. ranging in size from a weeks wages
to 10 per cent Of their entire salary for the
year. and much larger bonuses than this
have been paid by some of the big Stock
Exchange houses In prosperous years.
Nothing of the kind will be done this
Christmas It is understood, and already
there is much waiIing and crashing of
teeth on the part Of the employees who
have grown so accustomed to receiving a
fat present on Christmas that they have
come to look upon it as part OF their reg
ular income.
No action has yet been taken by any OF
the exchanges toward collecting Christmas
funds from the members for distribution
to the employees. AS a rule committees are
appointed to receive subscriptions, but so
far nothing has been done In this direction.
1t is thought probable. however, that the
will teas
for this purpose this week Last year the
New York Stock Exchange fund amounted
to more than s11 900, and that Of the Con-
solidated Stock Exchange TO about $4,000.
but they are expected to fall far below
these sums this year.
The big private banking houses, banks
and trust companies VIII. it is understood,
distribute good sized bonuses to their en-
ployes this year, but as the business OF
some OF then, is also reported to have suf-
fered from the general depression 1t is not
thought probable that their remembrance
VIII be as generous as usual
Because Of the dulness in the steel trade
the United States Steel Corporation is not
expected TO treat its employees with the
same generosity that it did last Christmas,
when it distributed g, bonus OF &, 100000 In
cash and stock among them, but they will
not be forgotten, it is said. The Standard
Oil Company will follow the custom adopt
ed a few years ago of giving its employees a
Christmas present in the shape Of an in
crease in salaries. These increases amount
generally to from 81 to 500 a month, &C.
cording to the employee, and will be fully
up TO the average this year, it is said as
the company has done d larger business
than ever in the last twelve months.
The various exchanges will probably fol-
low their policy of the last few years in
not having any formal celebration on
Christmas. Some OF the fun loving mem
bers will probably indulge in horseplay and
high jinks,'' but that is as Tar as the
observance of the day is likely to 60 A
member Of the New York Stock Exchange
who has taken an active part III former
celebrations when asked yesterday what
was likely to be done in that direction this
year said: Anybody who mentions Christ
mas on the exchange will be thrown out.
Further than that there will be nothing
doing"
The Produce Exchange is not going to let
the lack Of business interfere with its usual
New Years Eve entertainment to the poor
children of the district, however, and
preparations for the affair are already be-
ing mace by the entertainment committee,
headed by l.. A. Morey. 1t has been de-
cided to distribute three thousand baskets
containing candy and toys among the poor
children of the district and TO have q circus
entertainment on the floor of the exchange,
to which. however, only the inmates of the
Crippled Chidreu's Home will be invited.
Tickets for the baskets will be distributed
by the Charity Organization Society, Trim
ity Mission, st. PauPs Mission. st. Peters
Roman Catholic Church. the Old John
Street Church. the Salvation Army and the
Volunteers of America.