New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-12-19
WALL STREETS XMAS
Bankers and Brokers to Provide
Generously for Employees.

Wall Streets army OF pdHn 49, -,
emploves of Stock Exchange houses t"ls
wear are awaiting with more imam usua
interest the Christmas distrlouuoIs' -.
,.aars gone by Santa Claus has been nuch
,,ore IiboraI than he will be in 1917, ana
ro,,cb sneculation is being INDUCED in as
a. ubether the scare caused by the PuJo
money inquiry will have a tendency u
mt a further crimp. so TO SPEAK III '"e
boss's pocketbook. II is also argued Una.
the receat high rates OF interest on CON
money should be an important factor III
detsruining the annual Iuletde gliis'
4 Tribune reporter visited the larger
financial Wall Street institutions, ana
found that views differ on the suDJec' oi
-.,ootai dis,rthutions. Some contended
that the system practised by some banks
and trust companies OF Announcing e"
bonus equivalent 10 certain pelceh'aee
OF the employees salary was not 10 MS
best interests. but that ne should Ie0ei'e
an increase if his services WARRANTED SUN
action Among the institutions support
in this view were the First Nauonai
eank the National City Bank ana the
Now York Trust Company They denled
chat they could be called "spugs, ana as
serted that they took care OF their en-
Moves as well as any other or the DIX
Wall Street banks.
Already the Bankers Trust Conpan!
and the Guaranty Trust Company nave
announced a bonus 10 employees amount
mo IN 10 per cent Of their yearly salaries
ond v,thjn the next few days the Chase
National Bank will take similar acton
Vas the most liberal giver to It's CLERKS
and department managers wheh II ui9-
tributed a bonus of % per cent 1t was
said Yesterday, however, by an oInclaI o.
Inc company that the 1912 distribution hao
not vet been decided, but 1t is SAFE u
assume that IL will be large. as the mum
her of employees among whom the amount
is IN he divided is much smaller imam al
IN. other institutions mentioned.
The Bankers Trust Company VIII oA-
lido its Christmas gifts among 2oo ell
rloves the Chase National Bank among
JOS and the Guaranty Trust Company
yesterday made its distribution among
eco enployes AS a result everybody
from the office boy UP was especidiis
cheerful The National City BANK "iiion
rrefers 10 stick TO the system OF saiafs
advances. has in its employ ABOUT ''O
men oo
ON the assumption that the average
yearly income Of a bank employe is soire-
where in the neighborhood OF sl'-VV' '"e
pankers Trust. the Guaranty Trust anu
the Chase National Bank will give lheh
omn,oves about 100000. 1t also seems
s.fe IN cav taking this estimate as a
basis. that Wall Streets total Christmas
contribution will exceed S5n'~o Curie"'
cossip is to the effect that the Corn En- EN-
cnanre Bank. which has more than sou
emnloves. has set aside $4,000 to fill the
Christmas stockings Of its men.
Brokers began their contributions 10
81. christmas fund on Monday. Little
bac been given up to date. but 1t Is eN-
re,ted that before next Wednesday ar
rives the total will average well up u
nrcyious years. despite year oil Poo'
business -.
Morgan & Co. wait until the day
,seore New Years before making holiday
distrihutions. Ten years ago their ell
r.Ioyes were said to have been the nappS
recinients of 100 per cent OF their sai-
ories. but since then 10 per cent mas
USUALLY been given TO clerks employed pS
the firm from one to ten years. ana 10
per cent to those who have served more
than ten years.
Calls we're made on nearly score OF
stock Exchange houses. most or Wh'ch
have not definitely decided regarding noil-
day gratuities to their employees. WIN
the execution Of two. however they all
have in mind Christmas rememorances on
2 liberal scale. graduated according TO the
length of service Of the employees Inc
,,c,centace basis on which banks ana
trust companies regulate their holiday
d,stributions is not in vogue among Stock
Exchange houses.