Evening star., 1918-06-23
EVANGELICAL AND OTHERWISE.
ny L A. FLEMING.

| - L. a 3
s wsshinrton bankers have taken .
Ssr1 favorable view Of the PROPOSE
Gon looking toward daily closing
At 4 o'clock save on Saturdays, when
- O'Clock 10 the closing hour.
At the meeting Of the District
Bankers Association last week the
matter was quite freely discussed
but formal action was not takens De-
cause Of point Of order that the Gall
for the meeting indicated specino
subject for discussion.
In all large cities the banking
hours are very generally from 10 am.
to 3 p.m., or five hours day. In
Washington the majority of the banks
are open for business from o'clock
in the morning until in the after
noon; some open earlier and some
close later.
Cleveland has adopted the , o'clock
closing hour. A canvass OF bankers
and junior bank officials leads to the
belief that the small amount OF busi-
ness transacted between O'Clock and
. o'clock in the afternoon might just
as we'll be closed up In the second
hour of the afternoon.
IF the banks do not adopt the
o'clock closing plan now they will
. surely do it a year hence" said one of
\ the assistant cashiers of a big ma
tional bank. "a year hence 50 per
cent of detail work OF the banking
business will be conducted by wom-
en-. and they will not be able to put in
the hours that the young men Of to-
day do in keeping pace with the de-
pands the service exacts. It will be a
matter Of economy and savings. too"
said the same authority, for the Of
ice force will then be able to close
up in time to go homo in decent sea-
Bon. whereas under existing condi-
tions half the force must he given
expenses in these days OF high
prices"
Corporate Financing Necessary.
While the demands of the govern
tnent have first call on the banks Of
today, 1T is essential in the extreme
ork at esp .s engaged IN essential
ing as well and that banks and in
diyiduals shall assist in this work
Bankers generally are opposed to
poration to make the banks bear most
Of the burdens of financing approved
by the corporation, and rightly are
taking steps to secure a change Of
'front.'. SO that the corporation may do
Bond brokers call particular atten-
tion to the short-term notes Of Ar
mour & Co, the Timkin Axle Conn
pSnS Procter & Gample and other
the public should assist and make
part OF their investment program.
Enthusiastic Support Given.
AT. the convention of the Virginia
Sankers, ASSOCIATION held last week
g. Old Point Comfort and the New
York bankers convention at Atlantic
City the government program as re-
Gently outlined by Secretary McAdoo
Tor 1S1s-19 financing was gone over
ana the most enthusiastic support
pledged by the bankers present.
Bankers pledged themselves to meet.
IN SO lar as It was possible. every cali
or the government; to continue lib
erty loan financing and to push the
ea!e OF savings stamps, while taking
their regular quota Of Treasury Ger.
fificates.
Brokers and Exchanges Register.
Stock brokers ana exchanges must
Pc registered on or before July / with
the the collector of internal revenue for
ton with Joshua Miles, Baltimore.
Registration is required Of name
tnd location of place Of business. This
Is exacted under the internal reyenue
Undtstributed Net Income.
Up to and including June 30. corr
porations may acquire liberty b6nds
ana Treasury certificates as 4 means
.. employing undistributed net in.
Sore Sor xaso from the business Of the calen-
subject to the 10 per cent tax. but
ouch obligations Of the rovernm ens
70 be effective for this purpose must
DGsr cate after September /. 1917.
return of undistributed profits ana
REQUIRES attestation by the president.
vice president or other principal OH,
ser OF the corporation, and by the
xs sasufer or assistant treasurer. The
Sor OF the district within sixty DAYS
9iter the expiration OF six months
prom the close OF the calendar year
;na, present cases from December 81.
Five per cent penalty attaches After
zen days default. and thereafter plus
4 Z per cent interest per month
Faflure to make returns within the
proper time is attended with a penalty
OF 30 per cent of the tax, save when
return is voluntary and without notice
from the collector. and it is further
shown that such delay was with rea-
eonable cause: a fraudulent return
riss ssci.onp hyo per s7.s cent penalty. Treas
lars on this tax and its WORKINGS.
Hearings on the new tax bill will
seontinue to July /. with House and
Esnate conference committees likely
20 get the measure in October, SO that
1T e not likely 1t will become a law
until after the congressional cleo
ftioaA
Opposed to All Changes
George I. Skinner, state superin.
tsndsnt Of banking of New York.
made an address to the New York
bankers. in convention at Atlantic
City, that was generously applauded
whom he decried any changes in the
banking laws or banking systems
during the present crisis as "only in
vitinS disaster" He also opposed