New-York tribune., 1919-12-24
Bonuses Totaling $25, ,00O,-
600 Distributed to Work.
ers in the Money Market;
Many Salary Increases
Record for Liberality
High Living Cost Given
as Reason for the I'm
usual Lavishness of Gifts

Tomorrow the streets Of the finan-
cial district will be deserted, vet the
Wall Street community will celebrate
one of the most joyous Christmases of
its career. Bank presidents, messen-
gers, brokers and clerks on this day
will be merely fathers and big brothers
and uncles.
Those little children who have Wall
Street folk in their families will be
twice blessed with gifts this year, be-
cause the prosperity of the Street
has been shared in unusually liberal
portions with the rank and file of the
workers.
Despite the vicissitudes of the stock
market, the great money reservoirs
and brokerage offices are closing ar
exceptionally profitable year, and as q
result the bonuses for their employees
are perhaps larger than ever before.
$25,O0O,00 Distributed
In theory, bonuses are looked upon
as money given in lump sums conven-
lent for investment, but even the most
stern Wall Street employer knows that
a huge share Of it goes to buy gifts
and to finance personal indulgences
Bonus season is looked upon by the
recipients as the time OF year when it
is possible to buy those coveted things
which have heretofore been just be-
yond reach.
Statisticians assert that it is i'm
possible to estimate with any degree
of accuracy how large the Christmas
distributions will be in the district
where the wheels of finance of the
nation and, to large measure, of the
world go round. Those who are bolder
say that the bonuses will aggregate
no less than $25,O00,0O0.
Many Of the investment houses take
the position that what they do for
their employees is purely a family
affair and will tell the public nothing
about the matter. j. p. Morgan & Co.,
which distributes its bonuses on New
Years Day makes a practice of keep
ing the size Of its bonus a secret.
This attitude makes it difficult to es-
innate the aggregate.
Supplem enting the Christmas gift,
which is designed to reward meritori-
Gus service and to foster goodwill, the
Wall Street institutions are this year
in many instances giving additional
compensation to meet the high cost
of living. The Federal Reserve Bank
gave special compensation for the last
quarter and announced that general
salary raise will 60 INTO effect on Jan
uary /.
Cost of Living Bonus
The Central Union Trust Company
yesterday announced "cost-of- living
bonus amounting to 35 per cent of
the employees annual salary and be-
sides a Christmas bonus equal to 10
per cent Of the yearly salary.
The Irving National Bank has
worked out a plan designed to keep
its employees salaries abreast of high
prices. The bank yesterday announced
extra compensation equal to 36M per
cent of all salaries for the last quar-
ter of 1919. The size f the extra
compensation is determined by the
changes in Duns index number, which
measures the trend OF prices
1t was learned that the Guaranty
Trust Company, which has similar
system Of cost Of living bonuses, will
pay an initial dividend to workers
under its new proiit-sharing plan in
the first quarter of 1920. The Guar
anty declared a 20 per cent cost of liv-
ing bonus also for the first quarter OF
next year and bonuses averaging %
per cent have been declared this year
1t is the policy of the company to dis.
tribute its bonuses over the year, in
stead of Jumping them on Christmas.
Many Bonuses Announced
Among the other financial institu.
tons to announce bonuses yesterday
were the Lincoln Trust Company, q
bonus amounting to approximately q
per cent of the salaries; Mercantile
Trust Company, 10 per cent, making
an aggregate of 20 per cent in the last
six months; the Peoples Trust Com
pany. 20 per cent, with an indication
that 26 per cent will be paid in 1920;
the Brooklyn Trust Company, Is pei
cent of annual salaries, making 20 pc,
cent for the year. The Franklin Saw
! ings Bank has increased salaries anc
Incorporated extra compensations into
regular aiaries.
The National City Bank announced
that beginning January l the bonus OF
% per cent paid to employees in 191!