Evening star., 1928-11-16


total distribution for the whole coun-
Christmas club headquarters. As West
Forty-fifth street, New York, that 5000
banks and other financial institutions
will pass out approximately $3.50, ,000, 900
on the first Of next month.
In the distribution more than 6,000,-
900 members will participate. The sum
Is about 10 per cent larger than last
years distribution of about $500 ,000, 900
and over five times the amount in 1920.
The average distribution pei member
amounts to $59.10, a slight increase
over 1927 In addition to being a rec
ord distribution for the Christmas Club,
more banks participated In the move
ment than ever before.
On the basis Of a direct by mail in
quiry to individual Christmas Club
members, 1t is estimated by Herbert r.
Rawll, founder and president of the
Christmas Club, that $2l3, 100000 of
Christmas Club savings will flow into
the country's stores to pay for Christ
mas purchases, $165, ,000, 900 will be de-
posted in permanent thrift or savings
accounts or used for permanent invest
ment, $72,000,000 will be used for year.
end commitments and concluding in
stallment payments, $50 100000 viii pay
insurance premiums. $29, 900 900 for in
tereSt and reduction IF mortgages,
$25,000,000 for taxes, $l1,000,000 for
education and travel and $4,000 900 for
charity. Analysis of these figures shows
more than so per cent Of this vast sum
Is used for constructive purposes.
100000 New Savers.
Checks to members will, on the aver
age.srun from $12.50 to $1,000 although
In some cases individuals and corpora
tions who have planned for the pay
ment Of insurance premiums and divi-
dends will be paid as high as $25, 1000
each. W.
Massachusetts leads the States in per
capita savings in this movement, with
New York and Pennsylvania not far
behind, The two largest Christmas
Clubs In the country are operated by
the Bank Of the Manhattan Co. in its
many branches in Brooklyn, Queens
and Manhattan, and the Bank of Italy
in California and its afflliated institu-
tion, the Bank of America, National AS
ISOLATION, in New York. These banks
will distribute about $10,000,000 to
about 100000 members.
In Manhattan one Of the largest dis
tributions will be made by the State
Bank & Trust Co.; $1,000 members of
their Christmas Club will receive about
$1,300,000 The Mount Vernon Trust
Co.. in Westchester County, N. Y, the
first bank In New York State to install
the plan, Will pay out about $375,00 to
Its 1900 members.
Starting about the first CT December
and continuing to the middle of jan
uary, enrolment for the Christmas Club
for the next year will be undertaken.
These accounts are opened at the bank,
trust company or financial institution
and the members select the class Of
payments best suited to their individual
requirements and the total accumula-
ton they desire for the following Christ
mas season. Payments continue in the
classes selected for the ensuing so
weeks. There are mo fines, NO dues and
all the money Is returned by the bank
In one lump sum just before Christmas.
Mr. Rawll estimates, from inves'
tionS undertaken from time to :,
that more than 10,000.000 perr
savers have been developed fro
ranks of Christmas Club nemb
the 18 years the plan has been l..
Grafton.