Evening star., 1940-07-30

Any items in excess of the items
listed for the varying sums are to be
charged for at the rate of cents
each. the minimum charge for excess
activity being 25 cents. But if no
checks are paid from the account
during the month no charge is made
against the customer
Account Analysed.
In explaining the revised schedule
OF charges to its customers the bank
indicated the following method by
which an account is analyzed in
order to determine whether the COL
lected balance maintained is large
enough to earn sufficient to cover
the cost of the items handled on the
account:
Earnings: On the basis of the
present low interest rates obtain
able, each S100 of customers COM
mercial account earns a gross of
approximately 2 per cent or 50 a
year, the equivalent of 1923 cents a
month.
Cost: The cost for the handling
of a deposit, check deposited, or
check paid Is 5 cents each. The
total cost for the handling of the
account is thus ascertained.
Service charge: If the cost is
greater than the balance has earned,
the difference is charged to the
account as a service charge.
Exceptions: On accounts that go
below $100 at any time during the
month minimum charge of 81 is
made for 10 or less transactions.
IF activity is greater than so items
month, reduction in the per item
rate will apply on such excess items.
Notes left for collection are fig
ured in the analysis on an account
at the rate OF 40 cents payment"
Chamber Discusses Taxes.
AS congressional committees and
Treasury officials are devising an
excess profits tax measure for con-
sideration of Congress. the Chamber
OF Commerce of the United States
has been asked for so much in
formation on the subject that it is
sending to its membership analyses
OF previous acts, with an expression
of hope that difficulties that attend
them may be avoided"
The difficulties" are pointed out
In the chambers statement, which
gives comparison of the more i'm
portant provisions of the different
acts and advances points which it
believes should now have considera-
ton both in the interest of the Gov
ernment and the taxpayer. In it's
analysis the chamber calls attention
to the fact that the 1921 Revenue
Act used invested capital as the
basis for the tax. Other proposals,
1t points out, are now being made,
particularly the use of average earn
ings over some fixed period of prior
years.
Under new proposal being ad-
vanced, according to the Wall Street
Journal. part of the normal incomes
of certain corporations with high
earnings records may be subject to
an excess-profits tax. But opposi-
ton to this surely will arise in
Congress, 1t is predicted.
Heard in Financial District.
Trading was light on the WASH
ington Stock Exchange today
Washington Railway & Electric As
sold at 108 and National Mortgage
& Investment preferred sold at 37s
William D. Hoover, honorary
chairman of the board OF the
National Savings e. Trust Co., will
leave tomorrow for an extended
vacation at New London, N. H.
Herbert B. Lord. assistant secre-
tary Of the National Savings & Trust
Co. is vacationing in Massachusetts,
for three weeks
Irving zirpel, secretary of the Union
Trust Co., will return Thursday
from vacation at his summer home
at Tall Timbers, Md.
The Washington Loan & Trust
Club recently enjoyed days outing
at Salona Farm, near Langley, Va,
the guest of William Sothoron
Smoot. Arrangements were made by
the Womens Committee of the club
under leadership of jeanette Fuchs.