Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1916-12-12
CHRISTMAS FUND
TOTALS S640,000
Banks to Mail Checks Tonight
to $4,000 People in Saw
ings Clubs.
BIG GROWTH OVER LAST YEAR
Most of Money Will Promptly
Find It's Way Into Chan
nels of Retail Trade.
BIG GROWTH OVER LAST YEAR

Repro 'scntinE tho savings Of ap-
proximat"ly 5000 people of Richmond
during the year, checks ae.r.ratinR
100000 will hc mailed out Tonight r.
ton financial institutions Of this city
This sum. strongly r"ilecting thc pros-
perity "f Richmond. compares with
st33.5oo paid out a year ago under tho
same plan and represents in .ho main
III" savings in small weekly amounts
of The workngman and woman
BANKERS said yesterday afternoon
that The showing made by tho Christ
mas Savings Clubs this year was nm
usually gratifying. since many Of the
banks showed hcavy gains over las,
year III both the number of accounts in
the clubs and in tho amounts received
Tho Christmas clubs have nov been
IN operation four years. having been
'"auE"ra'"H by ono OF tho largest
banks OF tho city. which has moro than
hcld its own against great competition
1t is estimated that practically tho
entire amoua:-sGi0oO oOnL-:vil1 he sncn,
during III" next ten days for Christmas 5
shopping. indicating that the retail
district Will become even more con-
Eested than usual at this season Of tho
year. While the retail merchants will
probably receive tho greatest benefit
from IN" savings, III" turning loose Of
TINS large sum will b. felt in prac-
tically every lin" of business.
SOME WILL DEPOSIT
CHECKS N SAVINGS ACCOUNTS
Some members of the clubs will re-
place their checks in the banks as a
nest egg for tho opening of savings
accounts. IL was stated in banking
circles. but IN" bulk OF tho disbursc-
mcnt VIII hc spent during the Christ
mas season. Another surprising fact
found is the large number OF boys and
girls that have registered in the saw
inEs clubs paving in only "A few cents
every week. That the unique banking
plan is exceedingly popular is shown
hy the Increased membership from
year to year
outstanding among the bank an
nouncemcnts yesterday was the heavy
Increase shown by tho Mechanics Saw
ings Bank. colorcd institution This
bank increased it's accounts this year
TO I,2oY paying out total of $4,000
among the colored population of the
city. as compared with $4,000 year
ago. TIL" ST Luke Penny Savings
Bank. another colorcd institution.
operating savings club. had $50 mem
ptIs dhIHS II ulSpurSement et $4,000.
The West End Bank increased it's ac-
counts during the year from 500 to
1.626, representing savings Of $4,000
Two years ago this bank had only 400
accounts in It's club. The Merchants
National Bank opened a Christmas
club last year for the convenience of
its clients. but did not devote any great
efforts To secure large membership
Consequently the accounts totaled only
ei+. and aggregated only $4,000.
Checks will be mailed out by the
banks tonight as follows:
American National. 5000 accounts.
$4,000.
Broadway National. 1000 accounts.
$4,000.
church Hill. 5000 accounts. s71.ooo.
Manchester National. 3.4O0 accounts.
s5O,0oo.
Mechanics Savings, 200 accounts,
$4,000.
Merchants National. 24t accounts.
$4,000.
Richmond Bank and Trust Company,
10000 accounts, 100000.
South Richmond. 775 accounts.
$4,000.
ST. Luke Penny Savings, $50 ac
counts. $4,000.
West End Bank, 1926 accounts.
$4,000