The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1919-05-14
MILLIONS
IN SAVINGS
BECAUSE
Of The WAR
HammOnd'S Financial Institu-
tiOns Show Wonderful Gains
In Past Two Years.

Lessons in thrift which have netted
Hammond residents at least a million
dollars in savings which would probe
bly, not otherwise have been saved is
one Of the important results of the
great war This sum has been laid
aside IN spite Of the vast sums in
vested BY Hammond people in Liberty
bonds. and the dozens Of war contribu
tions
Thought They'd Suffer.
When the first Liberty Loan vas
launched il was freely predicted that
the savings accounts Of banks would
surely suffer. but that people who had
been boarding money at home might
be taught the value OF having It prop
erly invested. Il IS true the old socks
teapots and other time-hono-ed hiding
places have been scrapped in thous-
ands Of homes but the money has not
all gone into Liberty bonds by any
means.
Bankers Are Delighted.
Hammond bankers have watched 6s-
velopments with much satisfaction.
Startling with the first Liberty bond
issue" says .. T. Emery Of the Lake
County Savings & Trust bank. "sav-
ings accounts began to increase and
they have been gaining more rapidly
since then. Liberty bonds taught the
people to save ard the savings ac-
count Is the most convenient method
in the world
Get Saving Habits.
1T simply shows that people who
are in the habit OF saving. always
save" says Theo Moor Of the Citizens
National Bank He believes that the
people looked upon bond purchases as
something which they had to do and
that bond payments were made part
of their home budget the same as the
grocery bill Home finances were ar
ranged accordingly and the old saw
ing account did not have to suffer but
continued as before. the safety valve
for their surplus funds.
Great Increase Shown.
In the lul between the fourth and
ffth loans. savings accounts increased
amazingly. East Hammond's new
banking house was launched at tbs
opportune moment and has had won
6erful growth in its brief career II
1t believed that within a short time its
deposits will be pushing some OF the
elder banks of the city
Henry o. Reissig. of the American
Trust & Savings bank says that peo-
rie who have never done a banking
business before have been drawn To
banks through the government bond
isues and the high wages paid in the
industries When men We're living up
10 their incomes they had little oppor-
tunities for saving but many have
found they had a surplus even after
making payments for Liberty bonds
veteran Banker interviewed.
In reviewing the situation W. e.
Belman. who is not only connected
with banks in Hammond but was
chairman Of the victory Loan commit
tee says. 4 have frequently made the
statement that in spite of the Liber.T
bonds and the war drives sof various
natures l believe the savings deposits
in ali the banks Of Hammond have in
cr eAsed at the rate Of $4,000 per day
for the last year which means a total
OF 100000 1t is wonderful thing
to know that people have saved In
spite Of the bonds and that is why /
say it speaks for a large line Of act
i've business in the next year"
All OF Hammond's banking houses
are doing the largest years business
in their history through this marked
ipflux from all directions. In West
Hammond the same condition is re-
ported at the West Hammond Trust
& savings Bank. Hundreds Of depos
tors have been listed who neever used
a bank before.
The Hammond Building. Loan and
Savings association. one OF the best
! indicators Of the communitys thrift.
shows some remarkable figures Last
year in the period from July to October
the new members averaged about 100
monthly. January saw a sharp change.
From January l to April ]. e46 new
members added and since the first Of
April 155 more have been listed. Furth-
ermore the calls for loans have been
growing to such proportions that the
association is now able to supply less
than half OF the demand.