Evening star., 1924-12-07
Washington Bank Stocks Make
Marked Progress During Year
Metropolitan Heads List With 4O-Point
GaH,-McFadden Bill Comes Up
SoOn-LessOn IL, Thrift.

part Christmas savings clubs are play
ing in the promotion of thrift. A dis
cussion of the effect Of these clubs on
national thrift in the current issue Of
The American Banker reveals that Of
every dollar which is put into this class
of savings IS cents is redeposited in a
permanent savings account.
"Vhe save to spend idea the journal
says, has at times been criticized on
the basis that real savings should be
the putting aside of funds for the un-
seen need and the accumulation OF FUNDS
for their later expenditure. In saving
for a definite purpose not only does
the SAVER accumulate funds for that
purpose, but on the average he also
lays aside something for the rainy. day,
and. with definite incentive, what Is
accumulated for the rainy day is prob
ably more than he would have saved
otherwise"
Banks as Aids TO Homes.
Savings banks and trust companies
could become Important factors, IN tne
-your-home movement and greatly
increase their deposits II they would
educate the public to save specifically
for a home. according to Robert II. Sex
ton. managing director OF the own
Your Home" eXpositions.
If these financial institutions, SAID
Mr. Sexton, would go to the public with
a direct plan of establishing home saw
ings accounts. with promise TO lena
the public a reasonable part OF the nee
essary amount of money on nrst mort
cages as soon the account mas
reached reasonable proportions. thou-
sands Of people would start home saw
ings accounts and acquire the hapit OF
thrift. These savings accounts would De
he
chased because the interest on the
mortgages and the upkeep of the nome
have to be met. and it is imperative 10Y
home owners to have savings accounts
THE homeseeking public should be
plainly told that a real effort must De
made TO save a reasonable sum be-
fore they can expect to be able 10
borrow any substantial sum TO puy
or build a home. The mere act OF
starting a savings account or )olnlns &
a building and loan association, While
step in the right direction, will not
Of itself accomplish the desired end
They must save each week and each
month, until they can themselves
have substantial interest in the
financing their own home.
Nearby Bank Pays DivideBd.
A 3 per cent dividend. payable Jan
uary 10. was declared by the board OF
directors OF the Woodridge-Lan Langdon
Bank at the last meeting. in addition
to voting $500 from earnings to the
surplus account.
This institution began business in
December, 1921. It's total resources
now are 100000, with deposits of
$4,000 and surplus and undivided
profits account of $4,000.
Slogan Contest Winners.
Winners of the slogan contest OF
the Franklin National Bank, carried
in conjunction with the 1924 Christ
mas Savings Club OF that institution,
were announced last night. Winners
adjudged to have. submitted the best
thirty-one efforts will divide total
of $3.50.
RAYMOND. c. Weber, a Department
of Agriculture employe during the
day and a George Washington law
student at night, was awarded first
prize of $500 on his. essay entitled
What Thrift Does for the Man" The
ESSAY follows: Thrift is an educator.
teaching man to think; a moralist,
imbuing him with ethical principles
a scavenger, consuming his bad hab-
its. 1t controls self-indulgen and
Illicit impulses; develops prudence
foresight and endows him with self
control. 1t shows him his purpose in
life and makes him a man."
A slogan Sow Thrift-Reap Pros
perity," submitted by Katherine P.
Willis. took the second award of
$3.50, while, an essay, Luck VS.. Pre-
paredness," submitted by Clarence y.
Beach. jr., was awarded third prize
of 500 In addition, there were three e
winners Of a $50 award, and % who
We're awarded $40 in cash.
The slogans and essays will be used
in a thrift campaign by the Franklin
National.