The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1915-12-15
$4,000 PUT into
CIRCULATION BY
LOCAL BANKS
Christmas Club Checks Sent Gut
to the DspGsitors
ASSURES HOLIDAY PROSPERITY
Christmas Clubs Also Lead to Perra-
nent Prosperity Through Teaching
People Habit OF Saving Money.

Between $4,000 and $4,000 is be-
ing put in circulation this week in
Bennington through the Christmas
clubs conducted by the two national
banks. The First National bank
mailed its checks to the members Of
its club on Monday and the checks
from the Bennington County National
bank were sent through the postofh
CO today.
The Christmas club idea was put
into effect in Bennington two years
ago by the Bennington County Ma
tional bank and at the end OF II
months It distributed $4,000 to be-
tween 700 and 750 members. This
year the amount will be $4,000 dis
tributed among 1872 members. The
FIRST club was largely composed of
members who went into two classii-
cations, beginning with 2 cents and
adding two cents each week or. be-
cents each week. The first classified
ton netted the members $3.50 and
the larger classification, $63.75. 1t
was allowed to begin at the large end
and work down to 2 cents and cents
for the final payment. This year
three more classes were added on the
bases of fiat payments Of so cents, 81
and SO each week and these helped
to swell the total.
Cashier II. Harry Sharpe of tho
Bennington County bank has had
some unique experiences in conduct.
Ing the clubs Among its members
are persons whom he is convinced
never saved dollar in their lives
until after they began making their
weekly contributions. In many
cases he knows this to be a fact for
the members have told him so.
One member took out three of the
50 week cards and finished all Of
them He is turning the $500 he has
saved into a regular bank deposit,
something that he never had before
and probably never would have had
but for the novelty of the Christmas
club idea. In another instance a
family of six took out eight cards.
A year ago the bank for the first
time inauguIated a savings depart
ment and many of the accounts es-
tablished have been founded on the
checks received from the Christmas
clubs Dozens of persons in Ben
nington who have heretofore been
unable to see wherein they could
save money from their weekly wages
have acquired the habit and the in
crease in the membership of the
club shows that they are keeping it
up. tH aN
There was a period during the
summer when the industrial plants
in the village were not running full
schedules and few of the members
who took out cards at the beginning
c. the year were compelled to drop
out But for this short depression
the total amount distributed would
have been in excess of $4,000. Near
ly every member of the club who be-
gan at the big end of his or her
card finished. Some Of those who
we're paying bigger sum instead of
smaller amount each week became
discouraged.
The First National bank started its
first club year ago and the checks
sent out Monday distributed sub
stantial sum to the members. The
club was divided into four classes in
which members paid % cents, 90
cents, 81 and 50 each week.
The money distributed by the
Christmas clubs will make good bust
ness for the merchants during the
next two weeks. The main idea of
the club is TO enable people to save
during the year the money for Christ
mas which otherwise would come out
of wages during theiast few weeks Of
the year Bennington merchants
last year had an excellent business.
but they admitted then that but for
the Christmas clubs the sales of holi-
day goods would have been discour-
agingly small. Conditions through
out the country and in Bennington
particularly are much better this
year and with the larger amount of
money in circulation from the clubs
it should indeed be merry Christ
mas for both purchaser and merch-
ant
Nhi1 rnn Crxy