Evening star., 1932-10-30
Local Institutions to Send
Out S8.725,675 in Christ
mas Club Funds.
AVERAGE D. C.. PAYMENT
WILL BE NEARLY $50
Local Depositors Accumulate Al
most Twice as Much Per Capita
as National Figure.
BY EDWARD {. STONE.

Washington banks will distribute to
Christmas club members next month
about s8,725,67 the largest acclimula-
ton of savings ever recorded in this
city. Over 100000 persons will share
in the distribution receiving amounts
ranging from SIS 10 $1,000
The average per member will be
nearly $50, while The countrywide
average, as reported by Christmas Cub
Inc, is $3.50. This local gain is at
tributed to the educational campaigns
of the District of Columbia Bankers
Association, which have emphasized
the slogan that the Christmas club
Is the best method ever devised to save
money for any purpose"
Bankers report that their customers
accumulate funds in this way to pay
large insurance premiums. reduce o.
pay off mortgages buy automobiles and
labor-saving home equipment as we'll
as for Christmas shopping. However,
1t is estimated that at least One-half
of the total flows into the shopping dis
trict for presents and other purchases.
-Four or i've millions will greatly ac-
celerate local trade.
National Total, $500, ,00O.O 900.
While Washington leads the country
IN Christmas club membership with one
out of every five persons enrolled,
nevertheless. the reported total for all
the States of S600,009.000 Will be a trc-
mendous factor in the stimulation of
business throughout the land, giving
employment to many thousands and
releasing funds in every line OF aCtivi Y.
Retail stores and local post Offices are
planning to hire largo numbers of addi-
ticnal clerks and carriers during the
Christmas season.
1t is anticipated by the banks that
the lessons of the last two or three
years and the reduction of salaries and
wages will have the effect of empha-
sizing the value of the Christmas club
method of enforced saving and that the
membership in WASHINGTON in the COM
ing year will exceed the present high
record. In spite of the depression each
past year has shown marked gain.
and this years membership is more
than double that of 1925.
Bankers ara divided in opinion as to
the possible direct profit Gerivablc frcm
this type of business. but all are agreed
that it adds very materially to the pros
perity Of the community and that in
turn brings increased deposits into the
banks
New Clubs Start November 30.
Nearly all Of the local banks have
Christmas clubs for the convenience of
their customers and will begin the en-
rollment Of members for 1888 on No
rember 30 Disbursement for the cur
rent year will be made about the first
OF December.
The s8.725.675 mentioned above for
early distribution IS the sum reported
by the banks at the close Of the Christ
mas savings campaign earlier in the
year 1t is unlikely that exactly that
sum will be turned over to club mem
bers. as some members always fall bv
the wayside and fail to keep up all
their payments. The banks make no
reports on cases Of this kind, their only
statement being that surprising num-
Der of subscribers make their pay
mentS in full.
The brilliant success of the Christ
mas savings campaigns in recent years
has been ascribed largely to the efforts
of the District Bankers Associations
Advertising Committee. Eliot H Thom-
son, Washington Loan & Trust Co. is
chairman of this committee and has
given an immense amount of time to
bringing the advantages of the Christ
mas Club before the public The sup
port of the other members has also been
reflected in the results.
Business Gains Speeding Up.
"The business of the country as
measured by the best single standard
railway freight car loadings. continues
to improve at an accelerating rate" says
Railway Age. The number of cars
loaded in September was IA per cent
greater than in June. when freight
movement reached relatively its lowest
level during the depression. and the in
crease during October has been rela-
lively much greater than in September.
Average loadings per week in June were
only 49l ,589. while in the first three
weeks of October they were 632 1853
gain of 141 ,174. or almost % per cent.
This increase was absolutely as we'll
as relatively greater than has been nor
NAL in years Of prosperity. The aver
age increase in loadingS per week be-
tween June and October in the five
years ending with 1929 was 129050 cars.
or less than Il per cent. In 1880 it was
less than $4,000 cars. or "a per cent. In
1881 it was less than 10000 cars. or 2.7
per cent The increase in car loadings
between June and October. 1882, which
was seven times as great as between the
same months Of 1880 and 1881, is the
most conclusive answer that could be
given to the question as to whether busl-
ness at last has begun substantially to
improve"