Evening star. [volume] (Washington, D.C.) 1854-1972, 1936-12-23
HOLIDAY EXPRESS
. RECORDS BROKEN
Heaviest Shipments Here
Since 1929 Indicated by
Latest Reports.
RY EDWARD C. STONE.

press Agency.
During the first two weeks Of De-
cember Christmas express shipments
forwarded from the Capital or re-
ceived here were IA per cent heavier
than in the corresponding two weeks
year ago.
All Washington stores and other
business concerns seem to be partici-
pating in what is unquestionably the
best holiday season in many years,
Supt. Turner stated Deliveries have
recorded a sharp increase, and calls
from private homes have revealed a
similar stepping up in business &C.
tivity.
Railway Express takes particular
satisfaction in the present situation
because all the men who were formally
on the furloughed list are now back
in their old positions on full time,
and all the companys trucks are in
constant use.
Supt Turner announced that the
air-rail-express is also doing an ex-
ceptional Christmas business. Early
in the year this branch of the service
was expanded into system of $4,000
miles. A large amount of last min
ute yuletide express" is now being
shipped over these lines.
Dividends, Bonuses Declared.
Directors of the Lincoln Service
Corp, industrial bankers, meeting
here yesterday, declared two months
dividend on the 7 per cent preferred
stock instead of the usual quarterly
dividend in order to establish divi-
dend payment dates to run concur
rently with the calendar year.
The directors also declared an extra
dividend distribution of Is cents per
share on the common stock of the
corporation. Both dividends are pay
able on December e to stockholders
of record as Of November 80.
The directors also authorized the
payment of bonuses and granted SAL
airy increases to the employees of the
corporation and its subsidiaries located
in Maryland, Virginia and Pennsyl-
Vania.
Interest Rules frightened.
The Federal Reserve Bank of Rich
mond has sent notices to all banks in
this territory announcing that the Re-
serve system, effective February /. will
tighten regulation @" which deals
with payment of interest on deposits.
The new definition of interest" has
been awaited for months. or ever since
the board held up its first ruling be-
cause of q conflict with the Federal
Deposit Corp. The ruling reads in
part:
The term interest means a pay
ment, credit. service or other thing OF
value which is made or furnished by a
bank as consideration for the use of
the funds constituting deposit and
which involves the payment or alb
sorption by the bank of out-of-pocket
expenses q. e., expenses arising out OF
specific transactions for specific Gus
toners and definitely attributable to
such transactions as distinguished
from overhead and general operating
expenses, regardless of whether such
payment, credit service or other thing
of value varies with or bears a SUBJ
stantially direct relation to the amount
of the depositor's balance.
THE term interest includes the
payment or absorption of exchange
and collection charges which involve
out-of-pocket expenses, but does not
include the payment or absorption of
taxes upon deposits, whether levied
against the bank or the depositor,
nor the payment or absorption of
premiums on bonds securing deposits
where such bonds are required by or
under authority of the law"
The tightening of regulation @"
Is not expected to affect bank earn
ings in any substantial way, as banks
have been leveling charges for some
time on certain accommodations to
customers for which they used to bear
the expense. Practices which have
depended on the individual attitude
Of each bank will be made uniform.
Broker House Votes Bonus.
Mackubin. Legg g. 60. has joined
the long bonus list and is paying a
Yuletide extra to all employees of the
company, it was announced in the
financial district today. The firm has
Washington, Baltimore and New York
Offices.
All the employees of the Hamilton
National Bank will have their annual
Christmas party this evening at the
Columbia Country Club. A big din
ner, Santa Claus and other Christmas
trills will make it gala occasion.
Thomas w. Brahany. manager of
the Washington Office of E. A. Pierce
& Co., has just returned from visit
Of about 10 days in Florida, most of
the time being passed at Miami
Francis G. Addison, jr.. president
Of the Security Savings & Commercial
Bank, Is back at his desk, following
. hunting accident which confined
him to hospital for some time, and
also to his home.
President E. G. Graham of the Ham
ilton National Bank has returned
from Florida. Joshua Evans, jr., starts
for the Southern resort tonight for
o short vacation.
Of1cials in the Washington building
and loan associations are of one &C.
cord that 1896 has been a remarkably
good IL months. Santa Claus will bring
to hundreds of shareholders in 16 as
sociations an aggregate of $1,312,164
in semi-annual dividends. The as
sociations crediting these dividends to
patrons have assets totaling more than
$79,000,000. During 1886 they have
loans of $40, 436, 59G.22 to 1893 iridi-
viduals who have become home owners
or prospective home owners during
that period.
Today's Trading on Exchange.
Capital Transit stock opened trading
on the Washington Stock Exchange
today. selling at 1917. Potomac Elec-
trio Power 51a per cent preferred came
out at lib and later moved at 1121a
on several sales. The corporations 6
per cent preferred appeared on the
board at 1l1h.
Chesapeake g. Potomac Telephone
Of Virginia IS were in demand today,