The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1925-11-06
XMAS SAVINGS
EST INA Ed At
100000
y G. Banks VIII Mail Out
Checks About De-
,cember 8
b. RICHARD HATTON


By RICHARD HATTON
The tremendous value Of the
oerv'ce rendered by many banks in
The District OF Columbia through
their Christmas savings clubs Is
indicated IN preliminary estimates
OF the amount that win be avail
able Tor those who have sys-
Scientifically deposited in Christmas
savings accounts during the year
and who will receive checks for
their balances next month. An esti-
mate OF the amount that WIN be
paid by banks upon these special
ACCOUNTS runs we'll over four mil
lion dollars, and there could be
found no greater warrant for the
#ystem OF Christmas savings ac-
counts than this splendid showing.
Local banks have tentatively de-
Cided that Christmas savings ac-
count checks will be mailed out this
GEAR about December 5. The de-
rision to make the payment after
the close of November business
was taken in order that the banks
may not be flooded with an extra
amount of business just at the
close OF the month when employees
are more or less crowded with the
regular work OF the bank Should
1lle payments be made just at the
end OF November, bank clerks
tould be forced into considerable
overtime work in order to meet the
large extra amount OF business.
The amount Of the Christmas
1avings payments are of especial in
terest 20 the merchants Of the city,
Tor. obviously, a very large part Of
the amount distributed VIII be used
m pref Christmas shopping. Buyers,
also, have the satisfaction OF nav-
Ing at hand an extra fund with
which 20 cover their holiday ex-
Eenses
It IS estimated that the number
ecf those maintaining Christmas saw
Ings accounts increased this year
approximately II per cent. Roughly,
mere were $4,000 such accounts
acarried in 1924, against approxi-
pately SO ZOO in 1926. Plans are
already being made by many banks
Tor further increases in this popular
tystem next year.
In an article written for s.Trust
companies" advocating adequate
compensation and stabilized fees for
rust service and sincere adher-
nee TO approved schedules, Marc
4yan, assistant vice president OF the
Los Angeles Branch Of the Bank
% Italy says:
Immediate adoption and rigid
Ompliance to uniform and ade
Euate schedule Of trust fees by
state or locality viii do more thar
my one thing toward placing trust
administration on a firm and de-
pendable earning basis.
There ia M n1TcGfff1ra5 fya0TsffVacv
corporate fiduciaFies says Mr..
Hyan, sof greater Importance than
mat Of scientifically adjusting com
pensation for trust service upon an.
equitable and reasonably profitable
basis. This is particularly true in
view Of the rapid Increase In NUM-
Der Of new trust companies and
establishment Of trust departments
by both State and national banks. :"
Vice president Thomas p. Hick-
man, Of the Franklin National Bank,
VIII leave in a day or two for a
week or ten days business trip to
Florida. He viii visit Miami and
other points on the new gold coast.
The Clearing House recently has
adopted new method Of forward
ing it's communications TO member
hanks. Instead Of using the regular
mails, as heretofore, communica-
lions will be through the medium
pf the clearing house and member
bank messengers.
Assistant Cashier Samuel M.
Thrift, of the Franklin National
Bank. and Mrs Thrift have gone to
louisville. KY, for two-weeks
vacation
w. w. Spaid. of the firm Of vii
lam B. Hibbs & Co.. left for New
York today for a short vacation
trip.
Local bankers are continually
embarrassed through the careless
ness shown by depositors in making
out their checks. The bank takes
every precaution to avoid or correct
errors, but there are times when an
otherwise perfectly good check must
be refused because of some slight
oversight or carelessness on the
part of the maker.
George W. Sisler, formerly chief
clerk Of the Security Savings and
Commercial Bank, has taken up his
new work in Florida in connec.
ton with real estate. Mr. Sisler
was council OF the Washington
chapter Of the A. 1. B. last year
and was given a farewell suppe
before leaving for the South.
Canadian Wheat