South Bend news-times. (South Bend, Ind.) 1913-1938, 1915-12-08
SAVING FUNDS To
Be RELEASED SOON
About $4,000 viii be Used
in Purchase of Christ
mas Gifts.

least $4,000 will be turned
r. the channels Of Christmas
trade IN South Bend during the next
week. according to officials Of the
city's banks. who report a plenty Of
money. and the above amount espe-
cially set aside for Christmas pur-
poses. The outlook for south Bend
merchants is the merriest Of Christ
mas crowds. and these crowds we'll
supplied with that which goes to-
ward record Yuletide sales.
Sums large and small. aggregating
approximately SIS, 900, are being re-
leased from savings made with the
intention Of having a fund for the
use Of Santa Claus and the tinkle OF
proverbial reindeer bells promises
20 be az all times subseUient to the
jingle OF coins in the pockets OF
Christmas shoppers
Some To BE saved.
As to the amount Of money avail
able for Christmas use, little can be
said owing to the fact the savings
eally In their places of keeping.
From the Christmas money clubs
which received close to 100000.
some idea can be CLEANED, although
some OF the money. intended q year
ago for the purchase OF gifts, proba-
bly, will go into savings accounts at
three and four per cent.
Through these Christmas money
clubs. $4,000 was saved during
1915, and that amount will be
checked out on appropriate vOuch-
ers by the two banks having such
organizations, within the next few
days The American Trust Co.
Washington and Michigan SITS, viii
refund $4,000 saved through the
''bit by Bit system, and the Union
Trust s. Main ST.. will check out
$4,000. Immediately following this
refunding process, new accounts
will be opened under advanced and
perfected systems by both these two
concerns and others I'm South Bend.
starts Saving Habit.
THE purpose of the Christmas
money club" says F.. II. Miller Of
the American Trust Co. as 20 pro-
vide money for Christmas. to ac-
cumuiate a sum for the proverbial
rainy day and 10 develop the saving
habit" 1t Is a savings plan, carried
on in 30 weekly payments. which
brings a check for the amount of
deposit on Dec. Is Of 1915. There
are six classes. ranging from one
cent TO one dollar. Interest Of three
per cent is paid on these accounts.
providing all payments are made
when due.
For the classes from one to five
cents. there is a rising scale or a
declining scale as the patron de
sires a depositor goes from. one
cent the opening week 10 q " cents
the closing week. or wise versa. The
five cent class seemed most popular
in the American Trust Co.'S plan.
with a primal payment of either five
cents or $3.50. as the class goes,
up or down"
Clubs Prove Popular.
Christmas money clubs have prov
en- popular as a means toward pro-
viding a set sum for the gift lists
This fact has led the bankers OF
South Bend interested to perfect the
system. The Union Trust Co. right
fully claims the pioneer movement
here having its first club three
years ago under the puuch-card sys-
tenn. The first year between five
and six thousand dollars was taken
in by the Union Trust; the second
year $4,000 was deposited. and
last year total of $4,000 was
saved TO be checked out the tenth
of this month
For 1916. a new style pass book
is arranged At the American Trust
Co. a duplicate coupon book will
ne provided. pocket size, and for
each payment a coupon viii be
taken from the book. the payment
stamped on the retained side of the
little ledger The banks coupons
are numbered with the number of
the book.
The Union Trust has provided a
vest pocket book with a duplicate
card 20 be retained by the bank
This card is inserted by Che cashier.
and book and card punched nj pay,