Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1916-12-14
WALL ST. MILLIONS
GIFTS TO WORKERS
clorks Will Get Record
Breaking Division of
Profits
% PER CENT OF SALARY
Amounts Range Down to One
tsnth-Morgan House Liberal
to Hundreds

.,rvv YORK. Dec. 1.-The drlpplngs
a.. overGowing watts Of fat rendered
l. wall street from the munitions trade
-. varrlne Europe will be distributed
..,. wsek and next to employees Hs Christ
~. v,sts that will break all past records
- dr,ppIngs OF today would have made
-, Cor both employers and employees
,..,,v the lean holidays OF 1913, before the
=, .,,,r,e ALI the record-breaklng profits
~, co,,,e directly out OF tho sale or
tes,ser and shrnpnei and hospital suppues'
10 tho trading In war materials that
y behind the great stimulation OF the
street.
rho bankers and brokers have II to
,lve this year and they WIN never nllss s
-rhe only slight cloud on the horizon
y ,ha professlonaN trader at this time OF
.S ,ill Is the suggestion from Germany
~ s..cc nut this has been blown almost
.s,,rsi,, away by the chill winds which
.rss,ed II in tho Entente capitals
IN n mllion-share day in the stock eS-
,hsnrs the profit to the brokers, In round
,urbers. In S25O.OO0 Actually the profits
~ hroksra are much greater because the
,sbulated figures comprise only STOCK
h.ndisd in hundred-share lots or more.
proksrs dealing directly on tho New
york stock Exchange received SS.0OO.0O0
IN commissions In the month OF NoVem-
~ IN the trading In lots OF n hundred
ar more Il was estimated today, Ihey
had this much income II they didn't earn
another penny But there Is no law
AGAINST a broker buying or selling stocks
for himself through other brokers, This
y one way big profits are made.
we've been too busy handling other
nsopies orders" one broker complained
ruefully. ito do muck for ourselves"
There Is the case, however, OF one young
man who worked as n stenographer year
ago and Is now said to have S25OOOO OF
his own slowed away in the bank, the
money made out of Il brokerage business
set up on $4,000 capital His operations
have all been on the curb market.
In the stock exchange with $4,000
seat paid for by the firm for whom he was
telephone operator four years ago is
Robert c. Hancks.
Most Wall street stenographers, however.
will 20 without seats on the exchange. They
will have to be contented with gifts OF SlO0
to $500 The latter sum IL the figure pre-
dleted today for the smaller wage-earners IN
the banking house OF ]. =. Morgan & Co,
though formal announcement of the firms
plAns have not been made. Other houses,
like the Guaranty Trust Company, which
will distribute S3O0. 900 to 100 900 employees:
Charles II. Jones Co, fifty per cent OF
nll employees salaries the Metropolitan
Trust Company, ten per cent to all em-
ployes: Decoppet & Doremus. six months
salary the Hartman National Bank. with
ten to sixteen per cent. have rlsked spelling
heir employees Christmas by telling them
n advance.
For hundreds of clerks II will be the best
Christmas they've ever had, and at the
same time the second anniversary of the
kfuaaf (hpiafp,au tn
years ago there were no bonuses a Wall
street clerk who had a job and regular
pay was considered very lucky young
me