The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1920-12-04
GIFT OF SAVINGS
More Than $1,000 Distributed
by Banks Here.
System Started In 1912 Even
Used by Motor Concern.

More than 100000, it is estimated.
will be distributed among at least 5000
Topekans who are members of the
various Christmas savings clubs which
are managed by local banks. The
checks for the savings will be handed
out during this month in time to be
of very appreciate interest just during
the Christmas shopping season.
The members of the clubs have been
depositing at regular intervals thru the
year, either weekly or monthly, small
sums of money, and have been receiv-
ing interest from the banks in which
they have been deposited. The sums
which their savings, plus the interest,
will equal, average about $45. The
aggregate will reach or pass the $780,
600 mark
Organized in 1912.
The State Savings bank has the
honor of having initiated the clubs in
Topeka, but several other banks have
taken up the scheme The FIRST eluo
was organized in 1912, with less than
500 members and an aggregate distri-
button of 5000. Last year there was
about 100000 distributed in checks.
William Macferran, president of the
State Savings bank, says there has
never been a year when it was so easy
to keep people up to the mark with
their savings, and especially with the
Christmas Savings club.
No Letters Sent Out.
In past years it has been neces-
sary to send out, during the year, a
letter to those who have fallen behind
with their deposits. calling attention
to(the disappointment which they are
sure to suffer when they fail to receive
as large a check as they had been ex-
pecting at the end of the year. This
year no such letter was sent out The
same condition has been noted in con-
nection with all other savings accounts,
Macferran said.
Not all the Christmas savings
checks are to be spent for Christmas
shopping Macferran and ]. D. Gossett.
cashier of the bank, agreed. 1t is
many times the man who knows that
he will have fixed charges to meet,
provision for them thru the Christmas
Savings club plan.
To Pay Their Taxes.
Taxes are one of the greatest incen-
tives to memb ership in the club, Cos
sett says. Many a man and woman
makes provision for the payment of
taxes on December 20 just by the use
of the Christmas Savings club.
The substantial citizen, the business
man and his wife, are the chief pa
irons of the club scheme. Children
sometimes have their accounts there,
but children as a rule nave no regular
source of income. and consequently 1t
is the grown-up who takes advantage
of the scheme mostly.
ST wouldn't be without the plan my
self" said Macferran. 81 used to be
poor thru January, February and
March. after meeting the extra calls
for taxes, coal and Christmas. in De-
cember. Now I make provision for
them thru the Savings club. and I'm
not poor at any time of the year
1.-THE value of the thrift training in
cluded in the club scheme cannot be
overestimated.''
A Definite Saving.
The principle of saving a definite
sum StNdefinite intervals. for definite
purpose, has been adapted by other
business firms in the city to other
uses. 1t is the moral obligation en-
tailed in the agreement to save so
much money by a certain time. that
makes the plan a success, Macferran
says.
One company has started savings
clubs for the purpose of purchasing
sewing machines. A coal company in
augurated the scheme to make sure
of the funds for the consumers win
ter's coal, at the time when it was
most needed.
To Purchase Automobile.
The Geo. S. Badders Automobile
company has just announced a scheme
based entirely on the Christmas saw
ings club idea, for the purchase of
Ford motor cars. Badders not only
sells the cars on the installment plan
but he pays per cent on the first
$240 paid in until June 1. when the
car is delivered.
Bolsheviki to Attack Greece.
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