Evening star., 1915-06-27
F1NANCIAL-LOCAL AND OTHERWISE.
BY I. A. FLEMING.

| WASHINGTON has a saving population.
The people have exercised their right
| to have money in the bank and work
| ing for them, night as well as day. to
a greater extent in the last few months
than ever before. Economy has been
the rule everywhere. and Washington
came fully up to the average else
| where.
| With the 1st of July the savings
banks and trust companies will credit
on the books of the money savers of
the District interest covering the half
year from January l to July l.
| While it is next to impossible to give
the exact amount that will go to the
credit of deposits, an estimate of
s515.O0o would not be far from the
credits that will be given to savers
and depositors who will receive in
| terest on checking accounts.
| Interest carries all the way from 2
per cent on checking and savings &C
counts to per cent on time deposits.
Most of the big trust companies pay
| 2 per cent annual interest, irrespective
| Of checking or savings; some few pay
| 3 per cent on savings, this rate being
general with savings banks and COM
mercial banks with savings depart
ments.
| In reaching the conclusion that
|
| ings banks were credited with paying
| out $150.00O; the savings delLrtments
| Of national banks about $4,000. in
elusive of some interest paid on check
ing accounts.
The six trust companies were ac-
credited with owing about s290,ooo IN
| terest.
| Added to the disbursements on ac-
count of interest and dividends on cor
poration securities, the interest ac-
count will bring up the disbursements
for the month of July. and payable
July l, to over $1.500,000.
cash will be used for the vacation sea-
son there should be much of it used to
the advancement of the local trade and
the benefits of retail merchants, who
| have unqueStionablys suffered. in a mild
degree. perhaps. from the economy that
dictated the saving spirit.
The disbursements on interest and
dividend account on local securities
tent. and business should also be
| helped by the release of such a large
quantity of money.
Story of a Modern Lamp.
| Every one Understands. at this time,
that Henry Ford and his associates
have touched modern Aladdin's
lamp in the production of the Ford
automobile Few know just how great
| this success mas oeen.
There were nine men associated
with Henry Ford in his venture. and.
| II they are not all millionaires. it was
| their own fault.
No one knows just how much Henry
Ford put into the business in the way
of capital 1t is on record that he has
drawn out s27,250.000 in cash divi-
dends, and that his share of the big
stock dividend recently declared was
| $29. 100000.
James Cousens placed $4,000 in the
venture, and took out S5.000.000 in
cash and s5,2O0,o00 in stock: John S.
Gray estate, with an investment of
$4,000, has received s5,000.o00 in cash
dividends and like amount in stock:
John F. Dodge took $1,000 of the capi-
tai stock. which has returned $2.250.000
in cash and s2.600,0o0 In stock divi-
dends, and his brother, Horace E.
Dodge. on the same investment, did
likewise. Horace H. Rackham and
John w. Anderson were equally in
terested with the Dodge brothers. and
their results were the same.
A former shareholder, A. 7. NAL
com. invested $1,000 and sold out be-
fore the cutting of the juiciest melon
ever split open by an industrial cor