The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1927-01-13
SAVINGS CLUBS
| AIDING THRIFT
By RICHARD HATTON

ny RICHARD HATTON
At the request Of the general
Thrift Week committee the banks
Of Washington carrying Christmas
savings clubs have consented to
keep their clubs open for enrolment
o. new members throughout Thrift
Week. which begins on Franklin's
Blrthday, Monday, January 81.
Il - the opinion Of the Thrift
Week committee that Christmas saw.
1ngS clubs are vital factor in the
development Of thrift throughout the
country.
The remarkable saving accom-
plished In Washington last year
through the medium Of these clubs,
something In the nelgnborhood of
] $5,000,000, attests the value, not only
To the Individual. but to the entire
community in this method Of saving,
In connection with the service rem.
dered by the banks In connection
with Christmas savings accounts It
y worth more than passing notice
that there Is no profit for this sery.
Zoe accruing to the bank,
The extra work and the added re-
9ponstbillty are undertaken BY the
financial Institutions purely In an
akruistic spirit and an effort to AZ
stst those who desire 70 start on the
rad 10 INDEPENDENCE by means Of q
savings account or to lay by q sufn,
Gent amount for the Christmas needs
next year.
1t Is stated that the banks in co
operating with the Thrift Week com.
nnttteo, and extending the time limit
Tor opening Christmas savings &C.
counts expressed to the committee
Z their desire to assist IN every way
~ the cause Of thrift.
This Is but another instance Of
the wholehearted spirit with which
Washington bankers are behind
every movement for community
good.
Last year the combined Christ.
mas Savings clubs in all Washing
ton banks registered tremendous
RAin in deposits over the preceding
year and it Is predicted that the
present action 81 the banks which
are cooperating vita the Thrift
Week committee will result IA even
larger gain in numbers and
amount Of deposits this year.
The election Of directors by local
bank stockholders continues as the
annual meetings are being held.
In most instances the boards Re.
main the same as last year and the
directors have reelected the came
officials who have served their In.
stitutiOns 30 well during the year
just ended.
Among the institutions who have
Just elected their boards and the
officers for 1927 are the Depart
mental Bank. Farmers and Ne.
chanics National Bank, Federal.
American National Bank Franklin
National Bank. Liberty National
Bank. Lincoln National Bank. Ma.
tional Bank Of Washington, Pru. |
dental, Bank. Washington Savings |
Bank. Northeast Savings Bank,
Commercial National Bank. Cont
mental Trust Company Central Saw.
ings Bank. National Capital Bank.
National metropolitan Bank. Riggs
National Bank, Second National
Bank, Union Trust Company. Wash. |
ington Loan and Trust Company,
Security Savings and Commercial
Bank. McLachien Banking Corpora.
ton. Washington Savings Rank,
Park, Savings Bank. Chevy Chase
Bank and District National Bank.
OGtYCG pNuAD nave hIuO 1SCVhASAy u%AA
their annual meetings while. In q
few instances, the annual meetings
are held at later dates.
The new board Of directors Of
the Departmental Bank will meet
for the purpose Of organization on
Tuesday, January 10.
The recent increase in capital Of
the National City Bank Of New
York from $50, 100000 TO 81, 900, 900
makes that institution the worlds
largest bank from the standpoint
OF capital structure. It Is stated
that the deposits Of the National
City passed the bilIion.dolIar mark
at the close Of 1925.
Or. w, B. Spire was reelected
president Of the First National
Bank Of Mt. Rainier at the annual
meeting Of that institution. Robert
q. Joyce. G. s. Shatz and =. II.
Shinn were named vice presidents;
4. B. McDevitt, assistant cashier.
ana Frank NJ. Stephen, attorney.
II. L. Stanforth was made chair.
man OF the board which remains
~ previously constituted!
The annual meeting Of the Ma.
ttonal Savings and Trust COMPANY
will Do held on Monday, January ~.
Henry p. Blair Heads