The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1926-11-19

4uOuSAnaS Oh CHECKS must De pre-
pared for mailing on NOVEMBER 80
the date set for distribution, n
order that club members may re
ceive their rennittances on the mora
ing OF December /. About one
eightieth OF the total amount OF
Christmas savings in the United
States was deposited in local institu.
tons. according to available figures.
The magnitude OF the Christmas
savings plan which has been encour.
aged by financial institutions in this
country in the interest OF thrift and
at considerable expense in time and
money to the banks may be realized
when 1t is stated that something In
the nelghborhood of $500, 900, 900 will
shortly be distributed to approxi.
mately 100000 club members n the
United States. This figure repre-.
sents an increase in Christmas saw.
ings over 1926 of about SIS, 900, 900,
or over 90 per cent, for the whole
country. The increase per member
over last years distribution will be
about IL per cent.
The average distribution per mem.
Der amounting to something like
$4,000. Washington banks viii dis.
burse approximately 81, 000, 900 more
this year than in 1895 indicating
that this city is well up with the
general average in its Christmas saw.
ings accounts.
ID. C. Ahead
The estimate made by competent
authorities as to the portion of the
$4,000 to be distributed In WaHhs
ington which WIN return to the
banks as savings deposits il rs per
cent, or, roughly. $3.50, 900. Cther
portions viii be. used for such pur.
poses as payments on mortgages and
insurance or taxes or other fixed
charges which It is impossible 10
estimate accurately, but it IL safe to
predict from previous observations
covering many cities that fully
$500. 900 OF the $1,000 900 to be dis
tributed In Washington will .nln.edi-
ately Be spent in the retail stores
Of the city
The following washington banks
maintain Christmas Savings Clubs
and win participate in the gigantic
distribution Of funds TO be made
here: The District National Bank,
East Washington Savings Bank,
North Capitol Savings Bank, Mer.
chants Bank and Trust Company,
Chevy Chase Savings Bank, Wash
ington Savings Bank, American
Security and Trust Company,
Franklin National Bank, Nc
1achlen Banking Corporation, Se-
ctirfty Savings and Commercial
Bank, Columbf6 National Bank,
Mount Vernon Savings Bank, Ma
tionaI Savings and Trust Com
pany. Federal.American National
Bank. Northeast Savings Bank,
Bank OF Commerce and savings,
Washington Loan and Trust
Company. Park Savings Bank
G m m eR cial National Bank,
Bank, Lincoln National Bank, Sec
ond National Bank. Riggs National
Bank, Farmers and Mechanics Ma.
tional Bank, Bank OF Brightwood,
international Exchange Bank,
Central Savings Bank, Potomac
Savings Bank, and Anacostia Bank.
The cooperation OF these institu-
lions through the District of Co.
1umbia Bankers Association In for.
wardings and fostering the Christ
mas saving spirit and the facilities
afforded those who desire to avail
themselves Of the benefits OF the
clubs IL mainly responsible for the
remarkable increase registered this
year in the amount of local savings
and IL one more evidence OF the
constructive community 5000 done
through the medium Of Washing
toms banks. In the final analysis
the Christmas Savings Club IS
gratuitous service the part of
the bank. That It is a service Of
thrift and of individual ard com.
munity betterment IL evident from
the figures quoted above.
Bertram Chesterman, executive
vice president Of the Morris Plan
Bank. Of Washington. will be host to
the banks staff at the theater party
of Washington chapter, American
Institute of Banking, on November
29. at Polls, when the members will
see the Passing Show OF 1926.