Evening star., 1934-03-08
TAX XEXPERTS HELP
BANKS PATRONS
Internal Revenue Bureau
Assigns Special Staff
for Capital.
BY EDWARD c. STONE.

CeIIldl FeVelluc Duledu, Gsole1lSu
especially to Washington banks, are
making life easier for bank patrons
who are struggling just now with their
income taxes returns. These experts,
who have been on duty for several
days, will remain at the banks until
the last Of the tax reports are turned
in March Is.
Some of the banks have the same
tax assistants who have served them
in years past and are known to many
Of the customers, while others have
been assigned to the institutions
here for the first time. They are
taking a great weight off the
shoulders of bank officials as many
patrons consider it almost the duty
of the banks to take care of their
income tax returns.
To many people, making out income
tax statements is as difficult as lock-
ing up genealogical lines to find out
what ancestors fought in the Revolu-
tion or who came over in the May
flower. One is as difficult as the
other.
New laws have placed added re-
sponsibility on bankers and others
who assist in making out income tax
returns. They now are held liable
for the accuracy in the information
In the tax statement. That is why
bankers were especially anxious this
year to have Revenue Bureau assist
~fnse. ,,,, WAY, ,,.oro .ss,ar,ad -
the banks here last year and hosts of
patrons had to go direct to the income
tax Office for their consultations. The
convenience this year is being ap-
preciated greatly.
Treasury Issue Announced.
Secretary of Treasury Morgenthau
announces an offering of 4-year 3
per cent notes in exchange for Treas
ury certificates of Indebtedness of
series TM-1934, maturing March Is,
1884 About S460000,000 of these
certificates are due March 10. The
Treasury stated that the amount
of the offering is limited to the
amount of Treasury certificates ten
dered and accepted.
The notes will not be subject to
call for redemption prior to their
maturity on March Is, 1888. They
will be exempt, both as to principal
and interest, from all taxation, eX-
cept State or inheritance taxes, now
or hereafter imposed by any taxing
authority
The announcement indicates that
Washington bankers are right in
their opinion that longer term Sc
curities will be issued by the Treas
ury as the short term issues expire.
Work DELAYED in District.
In the fifth Federal Reserve dis
trict the Bank of Richmond reports
that employment has broadeneo mod
erately in recent weeks on work
largely provided for by c. w. A. and
P. w. A. funds, but outside work has
been seriously retarded since the first
of February by very severe weather.
Improvement in the demand for
workers has also been reported in
private industry and in distribution,
but private construction work con-
tinues at very low level, and shows
no signs of material improvement in
the near future. Work from c. w. A.
funds has recently been provided to
assist some professional classes and
clerical workers, both men and wonl-
en-, who were not helped by the earlier
relief project.
A disappointing feature Of the situ-
alton is that artificial relief work
planned as temporary measure has
apparently not stimulated sufficient
improvement in private industry to
absorb the workers as they may be
released by completion of c. w. A.
and P. w. A. projects.
Peoples Drug Sales Higher.
Sales of Peoples Drug Stores. Inc,
In February totaled S1,2501l6, against
S1,185,279 in February, 1888, gain
of S64.837 or 5.4 per cent it was an
nounced today. For the first two
months of this year Peoples Drug
sales totaled S2,572,252 against ST.
495,89l a year ago, or an increase OF
3 per cent. Sales in January showed
an increase of per cent over the
same month last year.
Norfolk g. Western Railway has is
sued detailed report for year ended
December 81. 1888. General balance
sheet as of December 81, last, shows
total assets of S552,558,733, compar-
ing with $544,667 ,692 on December
81, 1882, and profit and loss surplus
$156,552.716, against S152 2O45,879
Net income for year 1888 was $22.-
sol lao after taxes and charges, the
same as reported in preliminary state
ment, equivalent after per cent pre-
ferred dividends, to $500 a share on
1,406,48 shares of common stock.
This compares with s16,811918 or
Many Banks Vote Dividends.
Dividends of interest to local hold
ers of New York bank stocks have
been coming very rapidly in the past
few days. The Irving Trust Co. has
declared the regular quarterly divi-
dend of 25 cents a share on its $40
par capital stock, payable April to
stock of record March II.
Central Hanover Bank &, Trust Co.
has declared the regular quarterly
dividend of $1.50, payable April to
stock of record March 20.
Bankers Trust Co. has declared the
regular quarterly dividend of IS cents
on common capital stock, payable
April 2 to stock of record March II.
Guaranty Trust Co. has declared
the regular quarterly dividend of SIS,
payable March 81 to stock of record
March 9.
Continental Bank & Trust Co. has
declared the regular quarterly dividend
Of 20 cents on Capital stock, payable
April to stock of record March l6.
Loans Farmers S20,023,2 200.
The Federal Land Bank of Balti-
more has made loans amounting to
S20,023,200 to approximately 9,104
farmers in Maryland, Virginia, West
Virginia, Pennsylvania and Delaware
since May, 1888.
The first sale on the Washington
Stock Exchange today was a l0-share
lot Of Washington Railway g. Electric
n-k M A,.: