The Washington times., 1926-06-03
SAVINGS TOTAL
RUNS HIGH
By RICHARD HATTON

BY RICHARD HATTON
nOne Dollar Starts an Account"
Thousands Of people read neat lit
tle signs III many Washington banks
hearing the above words, which sig.
Qlty that q one-dollar deposit viii
Pc accepted as the initial nestegg
Tor 8 savings account by the bank,
the obvious intention being to en-
courage thrift, saving, realization
0I fhe Importance OF starting and
ma talnlng an account wherein q
certain part Of earnings or other in.
come may be laid away in security
while earning q moderate rate of in.
one Dollar Starts an Account. .
10 the average man or woman it
may seem that it is hardly worth
while to start with such small
amount. not worth while to add,
week after week, similar small
amounts. Certainly It Is not worth
the banks time and trouble to-
handle one dollar accounts and one
dollar deposits Not worth while
Individually, that IL But in the
asgxegate the accounts that grow,
many Of them, from these small be-
ginnings, become very much worth
while both to the individual tleposi.
tor and to the bank TO say nothing
Ct what they mean to the commu-
nifty at large and the economic
structure which underlies community
business and community growth.
These savings accounts ii Wash
uSto11 banks, some of them starred
~ people who read the little an
nouncement that Zone Dollar Starts
and Account and acted upon the
en1pulse on the inspiration, now
amount to the tremendous sum Of
ever $50. 000, 600. Possible visuali-
Haticn by means Of figures would
serve to emphasize the yastness Of
enN sum. There b approximately
Ell. 2ls.8 sc deposited Ia saving
accounts ID the financial institus
lions Of this city. Much OF this sum
earning goodIg interest for
who have saved 1T Figure
Ne Hest interest paid upon any
Neyings account BY any bank and
20 total amount earned and credit
- g deposit0re mounts into stag
9sI!ng sum which y enriching the
e1ttre community.
there II. roughly something over
000, 900 on deposit in local bank.
institutions. OF this amount
OR4 $50 600 600 Ii III servings ac-
ceAnks. Il would not be out uf
pace when reading the little sign
i the hank announcing that ..Ones
Dollar Starts an Account u con-
template that SIS, O00, 900 which is.
lie result OF the combined savings
deposits carried Ia the banks 81,
Washington. AZ
1T y going to Be the greatest
eonvenkiOn ever held by the bisI11cr
FSsstSs
HE quotation Il not from one or
tAyo, but from many members 81 the
nlsers organization as the time
approaches for the annual gathering
It Hot Springs. Va. General Chair
mlen w. w. Epaid of the conyen-
ton cOrnmitke who is IN close
touch Win all details connected with
the coming event, expresses the
ut 20 confidence III the unprece-
deIffed success which win attend the
gathering scheduled for June IT.
An arrangements at the resort have
been completed, and Chairman
I.nHf6E II. McI.achlen, Of the pro-
gram COMMITTEES, has about cOIn-
pfeked the most rehensive series
ok features ever attempted, while
Chairman q. J.. McQuade. Of the
entertainment committee. has listed
-
lend distinct verve to the occasion.
The sports committee. under the
leadership OF Chairman Charles IA.
Doing. has the field end of the
program well h hand. and several
conkenders for golf and athletic
honors. including Major Pattsrson.s
famous t0p-spinning contest, are
daily preparing for the battles
.
Chairman .HilleaTy q. Hoslxinson,
ne the transportation committee, and
chairknan John NJ Riordan. of the
hotel committee, report an unpre-
Uefiented number Of reservations with
All applicants amply provided for AMI
Chairman b. p. II. Siddons, OF the
publicity and press committee, is
l1toadside Of inspiration. With the
convention date but two weeks away
~ IL every reason for the belief
freely expressed in banking circles
that this viii be the "best con-
fv6ntiOn ever"
vice President Jacob Scharf, of
flae second National Bank, has re
turned from a two weeks vacation
spent on his model farm near Rock
vile.
a
President Harry ". Haynes, Of the
Farmers and Mechanics National
Bank, has returned from attending
the meeting of the National Credit
SNen,s Association in New York.
The annual convention Of the as
eOciation was the principle topic of
discussion at the regular weekly
luncheon of d. C. bankers at the
city Club on Wednesday.
The Mortgage Bond and Guaranty
y:orporation il now located in its
-; offices on the ground floor Of
0enfiks Building, 1910 Vermont
ernand Petit, vice president
%athe Merchants Bank and Trust
nv and one OF the most popt,
10 lIiacIers in Washington. is gen
erS1 manager Of the company, whose
busiess Is devoted entirely to first
MORTGAGES and construction loans.