Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1924-06-07

Winthrop, June G,-On May Nth.
the Winthrop Grammar School Bank
closed its business for the year,
over $1,000 having been deposited
by pupils OF grammar school dur
ing the school year.
AS the bank was n new venture
for Winthrop boys and girls, the
record made Is one OF which they
may well be proud. Comparisons
with records of school banks from
many towns and cities in all parts
of the United States. show that only
II of these banks have an average
net deposit in excess OF that made
by the winthrop bank. Many OF
these banks are in large city schools
and have been established for n
number of years, while the Win
throp bank is new venture and
has been in operation for only
part of the school year. having been
opened for business November eth.
As compared with similar insti-
tutions in our own state. 1t is be-
lieved to be the most successful of
any now in operation.
Mr.. Melvin w. Wiswell. manager
OF the local branch of the Augusta
Trust Co, is the originator of the
system under which this lively little
bank is doing business.
Receiving hearty cooperation
from school board. teachers and pu-
pills. and whole hearted support
from the Augusta Trust Co, which
has furnished all equipment and
supplies. and offered prizes at vari-
Gus times. TO stimulate interest i'll
contests between rooms. and keep
up the record of deposits. the bank
has done a steadily increasing bust
ness. and proven great benefit to
the boys and girls of Winthrop. who
are establishing habits OF thrift,
which will be of inestimable value
to them in later years. as well as
gaining n practical knowledge of
banking methods.
The system under which the Win
throp bank is run is unique. In no
school bank in the State, so far as
is known, Is there so complete n
system in use. Tho method of pro-
cedure is identical with that of de-
posting money in any bank. Print
ed deposit slips are furnished which
the pupil himself makes ont. These
are placed on file by the tellers. who
at Tue cIIu vi Lllt udS ~ ItCuih
on the daily cash sheet aud balance
the days accounts.
All these are copied by the cashier
into the ledger. and each month any
account which has reached 81 or
more is transferred to the Winthrop
Branch of the Augusta Trust Co.
and n notice slip given the depositor
by the cashier, who also keeps n
record of any Withdrawals.
The bank Is particularly proud of
the fact that less than 500 has been
withdrawn during the entire year,
record equalled by few school
banks in the country doing an equal
amount of business.
Records show that the total de-
posts reach S10J1, from 2SS active
depOsitors, an average of SlG2 per
depositor. over 5000 individual de-
posts have been made, the average
being n little less than 20 cents. BY
far the greater number OF single de-
posts have been for 5 or 10 cents,
and the young officials of the bank
have taken in thousands OF pennies.
For the month of May. 155 ac-
counts of over 81 have been trans
fcrred to the parent bank. Harold
Maxim, son Of Mr. and Mrs. Ora NJ.
huAlHlt mas DttIt LIIe UdIh cashier
and has done splendid work in this
responsible position. Young Maxim
is graduating this year from Win
throp Grammar school and IS an
honor student. At the era duating
exercises which will be held next
week he will deliver the Salutatory
address upon the subject OF Bank
ing" This essay the young man has
written from his own experience as
cashier of the school bank. and is an
interesting account of the work Of
the institution from the viewpoint
of its youthful official.
The two tellers were Adeline Au-
clair of the 9th grade and Helen
Beatty of the Sth, and their work.
too, has been highly satisfactory. and
has been done with real interest. all
of the officials taking real pride in
their work. Miss Auclair is also an
honor student Of this years grad uat-
ing class, and Miss Beatty stands
high in her class. so that bank duties
have not interfered with the general
school work of it's officers. much Of
the work having been done outside
Of school hours by these enthusiast
tic young people.
The cashier is 10 years OF age.
and the two tellers are 10 and u.
Townspeople should avail them
selves Of the opportunity Of examin-
ing the work these children have
done, for their books are model Of
neatness and accuracy. Of which any
business man might be proud.
Principal Joseph Jordan OF the
Winthrop Grammar school has given
unstintlnEly If his time and energy
in making this venture of the school
successful and its splendid record is
due largely 10 his support and that OF
the teachers of the Grammar school.
who have urged upon the pupils the