Evening star., 1939-12-18

way ------- OL,Oo0,SiI 81 ,LUO 800
June ------- 67,298,425 59,O18,524
July ------- 68,06l 648 63,385 ,228
August ----- 1927 ,637 66,105. .508
September -- Ct 1865 ,498 61,393, 800
October --- 67O39,74S 6O,O87 ,584
November - 66,1O8,941 59,496. .249
Brokerage Firm Pays Bonus.
John P. Bergan, one of the man
ayers of the Washington Office of
the New York Stock Exchange firm
of Mackubin, Legg & Co. announced
today that the brokerage house will
pay Christmas bonus of 10 per
cent of yearly salaries to all en-
ployes of the company. The action
was taken at the head Office in Balti-
more. This is the first brokerage
firm with Washington Office to
report special holiday gift to
employees.
The Board of Directors of the
Seaboard Finance Corp. has de-
Clared the regular dividend of so
cents per share on the preferred
stock. Payment will be made on
December % to stockholders of
record December 49, The stock is
quite widely held in this city.
Frost Joins Advisory Board.
At recent meeting of the Ad-
vlsory Committee of the National
Press Building Corp Norman B.
Frost of the law firm of Frost. Myers
& Towers of this city was elected
a member of the committee to fill
the vacancy caused by the death of
George Ramsey, former partner of
Lazard Freres & Co.
The Advisory Committee now
consists of H. Prescott Galley,
chairman; Vernon G. Owen, Hunt
ington P. FaXon, James M. john
ston and Mr. Frost.
Record Insurance Luncheon.
One of the largest monthly lunch
con meetings ever held by the Dis
trict Life Underwriters Association
took place this noon at the Willard
Hotel, when the association had as
guests about ITS students who have
just completed a sales training
course in the Life Institute.
President Joseph A. Marr pre-
sided and the guest speaker was
Paul Speicher of Indianapolis,
president and managing editor of
an important insurance publica-
tion His subject was The Miracle
of Life Insurance. He is one of
the ablest speakers connected with
the national association, his talk
being greatly enjoyed.
Hands psp~c TI,,h
At the annual election of the
Riggs Bank Club, held recently, D.
E. Wisecarver was elected to the
presidency, succeeding E. E. Fisher,
other officers for the year being Sc
lected as follows:
Robert Hid and Ethel Hayes, vice
presidents; Miriam Fort, secretary,
and George Irelan, treasurer. The
following representatives of the
main office and the branches were
elected members of the Executive
Committee:
John Christian, Addison B. Cliff
ford, John R. Cocker, Kenneth
Davis, Elinor Hopping, Joseph Kurtz,
Joseph Loughran. William H.
Mitchell, Norman Morgan, Louis E.
Purnell. Eva Kicker and Mary Alice
Savage. The club. including more
than 300 members, is very active
Service Charges Great Help.
In his recent address at the bank
ing conference in Richmond, E. S.
Woosley, Louisville banker said that
bank operations last year showed a
gross revenue of $287 for each $10O
of assets. Five years ago these
figures were 1887 "Of course we
blame the declining ratio on low
interest rates" he added but I am
sure that in too many cases we have
sold our product, credit, below cost
Service charges have been talked
to death in our various bankers con-
ferences and conventions. However,
last year service charges, exchange
and like items accounted for $l15,-
100000, or 40 per cent of our net
income. We must remember that
such income is not subject to de-
probation and losses. It is real
money profit against which no re-
serves need be set up. This is GER
tainly field for further explo-
ration"
Elaborate Party Planned.
The Hamilton Bank Club, George
M. Rowzee president, holds its third
Christmas party at the Columbia
Country Club, Thursday evening, at
7 o'clock. The club is made up OF
directors, officers and employees OF
the Hamilton National Bank. This
years program calls for a big Christ
mas dinner, individual gifts for ali
members, entertainment and dane.
ing. AS already announced, brie1
talks will be given by President E. c
Graham and Howard w. Kacy, a di-
rector, and vice president and gen.
eral counsel of the Acacia Mutua
Life Insurance Co.
Wells ormer A. B. A. Chief.
Oscar Wells, chairman of tht
board of the First National Bank o.
Birmingham, Ala, again has beer
elected a member of the Board O.
Directors of the Chamber of Com.
merce of the United States. He viii
represent the fourth district, com.
prising Alabama, Mississippi, Georgia
and Florida. Mr.. Wells was electee
a member of this body in 1928 ane
reelected in 1880. In 1881 he be-
came treasurer of the nationa
chamber, but resigned in 1888 be-
cause of local business demands. II
1885 Mr.. Wells was president O.
the American Bankers Association
Secretary Morgenthau announce.
the resignation of Eugene S. Duf'
field, who has been an assistant tt
the Secretary since November l
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