Evening star., 1941-07-14
Total ------- 8,453 419 8,l06 ,951
Tax Information Received.

Tax Information Received.
Washington banks have received
further information on the Treas
ury Departments ruling that dl-
rectors serving on committees are
employees for the purposes of social
Security and employment taxes.
The fact that a director receives
no compensation or merely nominal
compensation for his services on
such committees will not affect his
treatment as an employe, but if he
receives no compensation for such
Services there will be no tax for him
to pay. However as an uncOm-
pensated director, he will be Classed
as an employe.
Meetings of some committees are
held infrequently. But it is under
stood that the Internal Revenue Bu-
reau takes the view that a director
Is an employe every day he is a
member of the committee and not
only on days when he actually at
tends committee meetings.
ANY remuneration paid a director
FOR attendance at regular meetings
of the board, as distinguished from
remuneration paid director for
services on committee, would not
be subject to any tax.
These are only few of the tax
regulations which are now being
given extra study in the banking
district.
Travel to ID. c. Scars.
The volume of vehicle traffic to
and through Washington is now
running at the highest level in the
city's history. according to informa-
ton gathered by the Touring Bureau
of the Keystone Automobile Club.
George E. Keneipp, Keystone man.
ager, reported today that the travel
TO Washington is fully 20 per cent
above last year, and the rate of
increase has been rising from week
to week. The peak is expected to
be reached in August, he predicted.
The increased travel. Mr.. Keneipp
attributed to both the national de-
fens@ effort and an increase in
purely tourist travel
Ayers Promotion Asked.
Well known in Washington for his
financial analyses published through
the Cleveland Trust Co., of which
he is vice president-o leave, Col.
Leonard P Ayers, 61-year-old vet
eran of the former World War.
recently was nominated by President
Roosevelt for promotion to the rank
OF brlgadler general. to serve in the
present national defense effort.
Chief statistical officer of the
United States Army and the A. E. F.
under Gen. John J. Pershing. Col.
Ayers is back again in the service
to fill similar post.
Veteran Agents HonOred.
An honor group OF veteran agents
OF the Northwestern Mutual Life In
surance Co, from the Washington
and Virginia organizations were en-
tertained at the Columbia Country
Club Friday by Roger L. Baldwin.
general agent. and Mrs. Baldwin.
Guests included the only woman
member of the honor group. Mrs.
Laura S. Poster. agency cashier. who
has completed % years of continuous
service. Other guests included these
from nearby Virginia: Mr.. and Mrs.
William A. Moore. jr; Mr.. and Mrs.
Ashton c. Jones. ST.; Mr. and Mrs.
Gilbert j. Cox, and these from
washington: Mrs. A L. Baldwin.
Mr.. and Mrs. George H. Rutley. Mr..
and Mrs. w N. Piser, Mr.. and Mrs
Howard Jackson, Mr.. and Mrs.
Joseph S Baldwin, Mr.. and Mrs.
John Bullough, jr.; Mr. and Mrs.
John L. Fleming, Mr.. and Mrs. J. C.
Rundles, Mr. and Mrs, L. B. Rose,
Mr.. and Mrs. L. D. OFlaherty.
Bank Deposits Rise.
The Second National Bank had
deposits of l6O067 on June 30,
last, the date of the recent call by
the controller of the currency. as
compared with S9.344,1O2 in June.
l940, and s8,795 .557 in June, 1899.
The Second National was mad
oertently omitted from list of ma
tional banks and their deposits pub
lshed in this column yesterday. The
Star regrets the omission. The total
figures published for national banks
and other institutions here, how
ever, were correct.
Personal Mention.
Edward c. Stone. financial editor
Of The Star, has left for a three
week vacation in Illinois.
Julius E. Lob, vice president of the
Second National Bank, plans to leave
Friday on his vacation in Macon, Ga
Miss Lois White, secretary to
President E. c. Graham of Hamilton
National Bank, and president of the
Pilot Club, organization of business
and professional women. has gone
on vacation in Long Island and New
England.
Maj. Erskine Gordon, trust officer
Of Hamilton National Bank, is
spending the week at Cape May,
N J.
Traction Bonds Up.
Capital Traction first five bonds
sold on the Washington Stock Ex-
change today at 1038., as compared
to the previous sale of 1882, Gar
finckel preferred went at 2634, as
compared to the last previous sale
of q.