Evening star., 1921-12-18
LOCAL UTILITY SECURITIES
REuNSTATED IN PUBLIC FAVOR
Heavy Transactions on Change and Over
Counter and High Prices Demon
strate Fact-News Budget. -

mana, tneFe IS SHOWN an increase LII
operating expenses OF much over
these $3.000.000.000.
Expenses Of operation. 1920. .e5l s00. se3
Expenses Of operation, 1918. 2,169. 8d8. 600
Increase in cost of operation. 50. .7sl .ssl .ees
The vital Thing.
"As this increase is the vital thing
affecting the interests of railway Sc
curity owners most seriously. but
perhaps more widely important.
keeping freight rates and passenger
rates at the high figures which re-
tard the transportation movements
of business, 1t is interesting to note
Mr.. Thompson's analysis showing
how this great increase has come
about. which is as follows
Due to the Adamson act, $500, ,000,-
600: McAdoo's order No. 81 and sup
Elementary orders. $1,000. 900, 900: ma
tional agreements, $400. .0O0. 900; eight
months of Labor Board award. $780,
100000; advance in price OF coal.
ssso,9oo'ooo; adyance sa nee ono in cost OF ma. a.
taxes. $50. .ooc. Si''in: 900. Increase in seven
years. $4,000. 100000.
THE Adamson act. the McAdoo
order. the national agreements and
the Labor Boards awards still stand
as block to the we'll being of the
railroads and of the country. capable
the Labor Board rests the major part
of the blame. This board in 1920 i'm
posed upon the roads an added ex-
pense of $700.000.000 a year for no
equivalent whatever in service.
Nothing in the transportation act
creating the board intimated that 1t
was to do more than act as arbitrator
between individual carriers and their
own employees.
"The Railway Labor Board should
be abolished" Mr.. Thompson says,
mot because the railway interests
because of its assumption of power
beyond the contemplation of Its
creators, but because. as at present
constituted, it violates the principles
of American justice and sound eco
nomic law"
Ten Per Cent Bonus.
Employees of the Lincoln National
Bank were today informed that they
would be paid a 10 per cent bonus on
At the same time the encouraging
information that profit sharing, with
semi-annual settlements, with employees
would be introduced with the new year.
Annual Elections.
January 10. all national banks. sew
eral trust companies and large num-
Der of savings banks will elect new
boards of directors, and these in turn
will elect officers for the coming year.
Some few changes in personnel are
more than likely. but as a rule few
important changes will be made. so
this time.
There are possibilities that may or
may not develop in time to figure IN
the annual elections.
So far as known all national bank
presidents and trust company presi-
q rn-aIacfah
Personal Mention.
returned to the city yesterday. inn
proved in health by a two-week visit.
He will be at his desk on Monday
Christnaas.
The happy family of officials and
employees of the Washington Loan
and Trust Co. will have a Christmas
tree on Saturday afternoon next at
The Liberty National Bank is show
ing 4 decora tive scheme in which 1t dis
plays liberty bells in a savings cam
paign. Illumination is q feature OF the
display.
The Bible and Banking.
In the Bible story Of the ten talents
the fact is related that when the
lord of the vineyard returned after
a long journey and called his servants
together for a reckoning. there was
one man to whom be had given one
only the bare principal. He had not
invested it in any way that would
yield returns. Like some miserly
people today. he had simply hidden
the money where it benefited nobody
neither himself nor his master nor
the community at large. The lord of
the vineyard was rfghteously indig-
nant and called the one improbable
servant wicked" and "slothfui HIS
Iordship demanded to know why the
money had not been put to the ex..
changers in order that the amount
loaned might have been returned
with interest. Thus was proclaimed
hank loans and discounts are based:
Journal Of the American Bankers
Association.