Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-03-24

"Pile Up Savings" Lester Urges.
The American public spent more
money last year on cosmetics than the
total net gain Of all savings banks,
Grin c. Lester, vice president of the
Bowery Savings Bank, said at the re-
gional savings conference in New York,
in showing how mercantile agencies
have succeeded in drumming up their
business. Mr.. Lister, who lived in
Washington for some years while en-
ployed in the Treasury, contended that
savings banks should make an equally
successful human appeal in inducing
the public to increase savings accounts.
Analysing a block of 5000 accounts
In. his own bank, he said, revealed that
is per cent we're classiiable under
investment accounts, 10 per cent under
spending accounts, Is per cent under
futile accounts and 81 per cent under
special accounts.
II do not depreciate the Importance
OF savings bank accounts" for other
purposes, Mr.. Lester went on. In
fact, I am confident that they are very
desirable and essential, but the time
has come when We should distinguish
the savings account from all other
forms of account, interpret it for what
It Is intended to bean instrument
for permanent saving-and make it
function successfully in that capacity.
Somehow, ! can't get away from
what to me is an impressive convic-
ton. That is. that the savings account
should be made the greatest single in
fluence for the achievement of the
permanent economic success of men,
and the brief agency through which
men strive for and attain the degree
of economic independence which their
stations in life NAV Justify"
Would Teach Money Management.
Harvey A. Blodgett, who spoke on
"Guidposts TO independence" sug-
gested that banks popularize thrift
through cooperative advertising in
such a way as to promote the savings
idea by encouraging saving for spon-
sible returns from series of educa-
tional and inSpirational advertisements
appearing in the New York newspapers
for year. He suggested that the cam
paign be designed to show people how
to become accomplished savers, how TO
use their savings profitably and how
to conserve their accumulations.
These features should be, in essence
guideposts to independence" he said
Thus. full course in the fundamentals
of money management, accumulation
every home in the metropolitan zone
The newspaper, the peoples university
Is the greatest educational medium In
the world. 1t molds public opinion anc
establishes habit. Almost everybody
goes to school daily for a few minutes
in the newspapers a,ld the education
available Is most complete"
Local Bank Clearings Higher.
Washington bank clearings for tn,
week ended March 81 totaled $32.667,
600. against $50, 686 900 In the previou
week, and an increase of 1876 per cen
compared with the corresponding weel
year ago.
Baltimore clearings reached sos, $50,
600, against so4,992,0o0 in the previou
week, but below the figures OF the sam
week last year. Richmond clearing
were also below last year, although the
reached S45. o05, 900, against the lowe
figures of $4o,736,0o0 in the precedin
week
Atlanta clearings were ahead of boil
the previous week and the same perio
last year. Norfolk was ahead of tn
previous week, but not up to the figure
:, OF the same week in 1928.
Bank clearings in the country as
whole for the week ended March 2
aggregated sl5.l50,954 900, as agains
S129ll ,994 900 last week and $l3,273
$4,000 a year ago. This was goo
gain over the previous week and tn
corresponding week in 1928.
Bankers Bulletin Appears.
The Monthly Bulletin of the Distri,
Bankers Association appeared yestel
= day. 1t announces real progress on con