The times. [volume] (Richmond, Va.) 1890-1903, 1899-02-17
SOL. j. BINSWANGER,
1903 Broad street, East.
tNSTALMENT SAVINGS BANKS.
Novel Method Adopted III Germany TO
ptouotc Habits of Thrift

tfOiiitif udDitS Oh ibiif
WASHINGTON. Feb 15.-Speclal--A
novel plan has been instituted I'm Mainz.
Germany. 10 induce persons OF moderate
means 70 open small savings bank ac.
counts. 1t has been ina operation for sew
eral years and is said 10 have met with
great success. The essential difference
between this and the ordinary savings
bank is 10 collect from its depOsitors
certain fixed sums weekly. The scheme
Is described in a letter 10 the State De-
partment from Consul Walter Schumann,
in which he says.
The application of the new deposition Is
made either i'm person or by letter ana
must state the address at which the
weekly deposit is To be collected ard the
amount This amount may be either %
pfennlngs or I. >. g. 4, ., or " MARKS
n mark-23.S cents. The amount 10 be
collected may be changed AZ any time.
ON payment of the first deposit. me
denositor is furnished with pass DOOR
in which the amount of the hrst deposit
ana the date is entered. The following
weekly deposits are not entereo Wneh
collected but only on presentation or the
mass nook at the bank when "a WIN
drawal Of money is made or az tne Gnu
of the year to balance the account.
The weekly amount Is collected by cur
ployees Of the institution ahu' "s ~
lint the depositor is given a printer
couDon. showing the amount -,
tbe date. and the number or the pass
book. ...,.,,,o,t "a
o,',,non h. presented by the collector y
- ei,,non which has been returned 10 w
III, nv the collector as unpaid Is nov
Ia uithin eight days. the inSu'uro"
, 80 the right to close the deposi'oi
account. ,..-t,., one wear
draw interest from the LIST OF 1Snu",'
If the folloyng year. The rate u M M,
ost ls the same as paid by tho saFInss
10 nix ON its ordinary accounts-at pIea'
giL per cent Deposits may DC
Drawn at any time on presentation Vi 10
PASS book and the coupon ior 'i'e
payment. a.,,,s,,os ~ This
,.,i,ncb ~ the savings bank for the years
1896 and 1871
1907 ............. 40 20N. 50-Sl'elV
1oos .......... 694 922. 90 l5o,S3-
withdrawn by depositors: .,.
rea7 ........... $40 20 l4,b<s
1908 ............ 5s5, "a. 9l- lll'bvo
AZ the close Of the year 1897, there was
= balance of 575. T5S Oh marks SlSI0se que
: as deposftors. At the ciose OF the year
Isqs there was a balance OF f'3.S'o.p
marks SIP $3.50 due 526S depositors.
on January I. 1858 the number OF de-
positors dncluding new applicants
amounted 10 5.7s9. making a weekly de-
post OF 1854 marks 300. and CLASSIFIED
40 '' Persons
Deposltlng 80 ptennies di3 cents1
per week. ........-....... ..s.'s-'.'- ~
Depositing 1 mark (23.s cents) per
week. ......-..----.. -.'''-.. '''''
Depositing 2 marks d7.s cents) per
week .-......... ..-...-.....s.. ss...ss. ''''T
Depositing marks Gl.t cents) per
week. ........-...---.. ..'-.-'--..'..'-'.- ~
Depositing 4 marks (95.2 cents) per
week.. .............. ................... iat
Depositing marks 81 ls) per week. set
Depodting 10 marks G2.3s) per week. ISL
TOtai.-..........+. .s.s...ss-... s-ssstt offff
This branch has not been started by
the savings bank as an institution of
profit. but merely as an incentive for the
poorer classes 10 save their earnings, and
so far has met with great success
believe the hrt institution OF this Kind