The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1915-12-18
From The Daily Item, Dec. Is.


money is issued about Christmas
time and comes in we'll to spend at
the Christmas season, to pay insur-
ance which comes due about the first
OF the year, or to pay interest on bor-
rowed money and other obligations
contracted during the year. In fact
there are multitude of ways in
which the club member can spend the
money when he receives the check.
and the beauty of the whole scheme
is that by making the weekly pay
ments for his shares he does not feel
the expenditure at the time and the
whole comes back with interest in q
lump sum, which comes in mighty
handy. 1t is no wonder that the sys-
tenn is increasing in popularity each
year.
The City National Bank sent out
checks to the shareholders in it's
Young Mems Saving Fund last night
am those receiving them were made
happy by the receipt of the neat lit
tie slips of paper. There was some-
thing over $4,000 issued and the pros
poets are bright for good increase
in the number of shareholders and
shares which they will carry for an
other year. This bank is the origi,
nator of the savings fund department.
Along in 1892 DR.. c. c. Brown start
ed off the plan with the Worlds Fair
CLUB, the members saving to go to the
Worlds Fair at Chicago. The system
was next organized and carried on as
III" RNttcnberG Employees savings
Fund and WIS operated rs sucn cor
several years. Upon. this concern 60
ms out OF business the plan was set
IN operation again by the city Nation
al Bank upon it's organization in 1902
and known aS tlie Young Mems Saving
Fund. Since then it has gradually
grown and prospered and now similar
plans of saving have been taken up by
other institutions and the system is a
very popular one. A few years ago
the bank changed it's plan of opera
ton so as to pay out the money a
week before Christmas SO that the
money could go to help the Christmas
shoppers. who are always in need of
ready money at the Christmas season.
The shares are one dollar each, pay
able weekly.
The Commercial and Savings Bank
issued $4,000 in checks last night and
the shareholders were drawing their
money or depositing their checks to-
day. There were 140 shareholders
with $50 shares CARED last year, a big
increase over the previous year and
at present the outlook is for a fifty
per cent increase over this years
business for next year in this depart
ment, which is known as the Com
merical Savings Fund. The shares
are for fifty dollars and are paid for
by payment Of one dollar each week
for fifty weeks. The bank is much
gratified at the increase of interest
shown and the good which the de-
partment is doing.
The Peoples Bank is getting
their checks in readiness to mail out
to the shareholders in the Peoples
Savings Fund and will mail them out
tonight and tomorrow to the one hum
dred and thirty shareholders who will
benefit by their savings during the
year. The bank will send out checks
ltotalling up between $4,000 and So
cent. over last year. This year there
were $50 shareholders and IT'S shares
were subscribed. Next year in
dications are that there will be a
big increase both in the number Of
shareholders and number of shares
subscribed. A feature of the plan, as
operated by this bank, is that inter-
est is paid from the date of deposit.
The shares are one dollar each, run
ming for fifty weeks.
The National Bank of sumter is the
originator of the Christmas feature
of the savings funds, its club being
known as the Christmas Savings Club
and being primarily for the members
to save money to spend at Christmas
time. In the three years the plan
has been operating at the bank the
number of club members has each
year been doubled over the year pre-
ViOusly. This year the bank will
members on Friday morning $22,-
7l5.3S. There are 2,052 club mcm-