Evening star. [volume] (Washington, D.C.) 1854-1972, 1916-11-12

! great advances in prices of paper, con-
per, steel and other commodities.
| All these make for added earnings
for corporations producing these COM
| modties.
| The one influence that would halt the
stock market and turn it about face
| is peace-admittedly not in sight.
Therefore it is safe to say that big
nroad market is assured for some time
to come.
Motor shares have been disappoint-
ing to their friends, largely because of
the disposition to increase capitalize
raon through the old water pump
| method, injecting 100000 to s25.-
100000 on the slightest chance for re-
! organization or consolidation
extensive railroad financing is need
eo nelore very long, having been held
| IN allegiance during the period Of for
! elgh borrowing, which had not reached
conclusion as yet. and while the mar
+, hetlng OF hundreds of millions Of dol
| lars worth of American securities
accomplished -'
ferfects Retirement Payment Plan.
| John Joy Edison. president of the
washington Loan and Trust Company,
mas a1ter three years of study and eff
| Iort' perfected. with the aid of the
executive committee of the COMPANY. a
/ plan Tor retirement of employees with
! compensation, at the age of siYtv y..rs
! II desired. or at a later time and for
extending practical relief to depend.
1 ehts Oh deceased or sick employees of
the trust company.
Inc plan calls for no contributions
from the employees of the institutio,
ano Will cost the corporation anon,
| so.oo0 a year for number of Years 70
1 come. 'i' "
! The president of the COMPANY is tn.
r. ke I'D,
/ OF the retirement plan. .
retirement Of any officer, clerical
, eHpioYe or Waterman at the age OF
1 sixty years may be made WITH .he
consent of the directors, with an an
! hual allowance at the rate of per
| cent OF his annual salary for the three
| FEARS Immediately preceding retire
| ment, for each year Of service. hnt ~
maximum amount shall not exceed 40
per cent of said average salary e,cent
! Whefc service has been for twentv-
{ HVe Years continuously. and then not
teAIee"i!ig % per cent of said average
! sdidf]. me retirement rules limit the
maximum annuity to $1,000 and the
! minimum TO $3.50
After reaching sixty years of age
an employe or officer may be retired
as provided, or he may, with the con
sent of the directors, remain in his
position for another five Years. when
| ne VIII receive as pay the earned an
nuity plus additional compensation
! dte Win cHIClencS and
| Ice rendered AT the end Of five years
another extension of service may be
granted by the directors.
| II, before reaching the age of sixty
years. an officer or employe who has
been in constant service for TWENTY
hve years becomes incapacitsted from
duty. he may be retired and receive
iannufttes, but in the event of recovery
must hold himself at the service Of the
trust company If desired
| Retired nr
! annuities are not permitted to engage in
any business inimical to the washington
Loan and Trust Company. while the COM
mission Of felony misdemeanor. TAX
ing advantage Of bankruptcy act or in
! solvency law, may lead to the reduction
or the retirement payments or suspension
at the VIII of the directors.
1t Is planned 10 pay dependents Of d.
ceased officers or employees on a service
scale, based on two months salary for
each year Of service, but not more, than {,
maximum of $1,000
Mr.. Edison believes that the tim. is a,
hand when "A retirement fu-,I for "a n s,,l
| employees will become a feature, of bank
ing. as Just and wise q
toward devoted officers and emuloyes and
that 1t VIII he d potential influence for the
best interests of the bank In working gu,
the plan retirement plans in use in a
| large number OF financial INSTITUTIONS
were considered by Mr.. Edison