The Barre daily times. (Barre, Vt.) 1897-1959, 1913-12-12
OVER $4,000 DISTRIBUTED.
To Members of Christmas Savings Club
of Barre Savings Bank.

! Some l,l00 members of the Christmas
Savings club had glad feeling around
the heart to-day when they opened their
mail for last night the Barre Savings
Bank & Trust Co. mailed an aggregate
| sum of more than S24 900 in checks rang
ing from sl2 to SOS to depositors who
have added each week growing sum
to this account which they opened when
the club was established the week fol-
lowing Christmas, 1912. Viewed from
every angle, the club has been a whop-
ping success.
Accompanying each check is letter
inviting the recipients to renew their
membership with the club for next year
and announcing the winners of the prizes
offered for correctly computing the in
terest on three classes of Christmas saw
ings accounts. The awards were made
as follows: First prize, Milton J.. Julian;
second prize, John L. Averill; third
prize, James r. Lawless, a l3-year-old
South Barre school boy, and James +.
Higgins of the d. NJ Miles Coal Co.
Substantial money prizes were awarded.
The figures of each participant were ex-
amined impersonally, as the only mark
of identification furnished ON each set
was a number tallying with the num-
Der of the depositor's account. By rea
son OF this arrangement, the Judges were
not aware OF the identity of the prize
winners until the bank officials an
nouneed the awards by mail to-day.
There were three classes of accounts
In ha h. ha fIn
started with a deposit of one cent and
then doubled the amount each week;
second, the two-cent deposit. which dou
bled each week, and third, the original
deposit OF five cents. which likewise dou-
bled each week. In reality theie were
a half-dozen classes, as each depositor
was given the option of beginning with
the largest deposit in the class and pay
ing half as much the next week and so
on, until his last deposit was either one
cent, two cents, or five cents, according
to the class in which he started. The
interest, then, in the prize competition
was to be figured on the original pay
ment of the smallest deposit and again
on the reverse for all three classes. The
first depositor to forward the correct
figures to the bank received first prize
and the remaining prizes were awarded
in the order of their receipt at the bank.
The checks, ranging in value from
Sl2.S4 to $3.50, are specially designed
for the Christmas season and are guar
anteed to cheer. People who started de-
posits but for reasons best known to
themselves failed TO continue their week
ly deposits. will receive the face value
of the total sum deposited and no more.
The others have had interest at two
per cent. added to the principal of their
deposit. Many have decided to trans
fer their money to the savings account,
preferring such course to expending
their checks for Christmas giving.
number in this class are suspected of
having affiliated with the newly organ
ized S. p. L. G., or "Spugs," as they are
commonly called But the motive of
the depositors in so doing is an altogeth-
er worthy one.
In its 30 wrecks existence. the club
has exceeded all expectations. The mum
Der Of depositors was far greater than
the bank had anticipated. With a few
exceptions, those who Joined the club
late in last December have continued
their weekly deposits and have, profited
DN Ine interest bearing arrangement.
Primarily, the club plan has demonstrat-
ed that anyone can manage a small saw
ings account if the deposits are made
systematically. Merchants everywhere
in the city are honoring the Christmas
checks or they may be cashed at the
bank
The club has been so well patronized
and so highly commended that the bank
has decided to operate it for another
year. The 1914 club will open Dec. %
and many have already signiiied a desire
to enroll, several having made the first
deposit nearly three weeks before the
opening day.