Evening star., 1935-12-01

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M Christmas Savings Clubs, q
k new wrinkle in painles.
\ travel financing is scheduled
to make its appearance in Washing
ton shortly. Its foundation is thrift
saving for the day when the vacation
bent owner can take his travel certi-
ficate book, bespangled with stamps,
to the tourist agency, put his script
money down and 60 as far as his
tastes and thrift permit.
The certificate book is built up with
stamps purchased for so cents each,
and the owner dictates the rate of
savings. Starting with the initial sum
Of $3.50 the books blank squares
mount, page by page, to $575.50,
which can buy the average person a
lot Of travel. It is not necessary,
however, to attain any specified sum.
Upon joining, the future traveller be-
comes entitled to receive the COM
pany's publication, 'Trips," devoted to
pictures and stories of the world and
its ways and travel-wise hints.
Under certain conditions, the pro-
spective tourist may renege on his
plans and require his savings be re-
turned. Under the plan, sponsored
by the International Institute for Ad-
vancement of Travel, the savings are
to be held by New York bank until
withdrawn through the agent of the
institute.
THE Institutes rules, quoted below,
amply explain the plan:
l. All of the stamps affixed to
this certificate book are redeem
able at their face amount for travel
accommodation at the then pre-
vailing rate, only through the duly
authorized agent of the Interna-
tional Institute for Advancement
OF Travel, Inc, from whom the
certificate book was originally pur-
chased.
2. All funds received from the
sale of stamps, except the opening
stamp in an amount of $3.50, are
on deposit with the Federation
Bank & Trust Co. of New York
hereinafter called escrow agent"),
which stamps, with exceptions as
aforesaid, the bank has agreed
with the International Institute
for Advancement of Travel, Inc, to
redeem at their face value in ac-
cordance with the terms herein.
after set forth.
3. This certificate book is not
transferable or redeemable for
other than travel accommodation,
unless the holder hereof files with
an authorized travel agent from
whom the certificate book was pur-
chased an affidavit stating either
that the holder hereof is unable to
travel or for some other reason is
desirous of obtaining a refund Of
the money represented by the
stamps affixed to this certificate
book. The authorized agent will
then forward such application for
refund to the International Insti-
tute for Advancement of Travel,
Inc, which agrees to present the
certificate book to the said bank
and the said bank shall thereupon
issue its cashiers check to the
person named as the holder of the
said certificate book.
4. In the event the said certifi-
cate book is presented for cash re-
demption, the only obligation of
the International Institute for Ad-
vancement Of Travel, Inc, is to
present the said certificate book to
the escrow agent.
5. The holder hereof agrees that
In the event that this certificate
book and the stamps attached are
redeemed for cash, the amount to
be received by the holder hereof
will be the face amount of all Of
the stamps affixed to the said GER
tif1cate book, less $3.50. which is to
cover the carrying and service fee
OF the International Institute for
Advancement of Travel, Inc, when
ever the said certificate books are
not redeemed for travel accommo-
dation; but in the event Of re-
demption for travel accommoda-
ton no deductions of any kind will
be made from the face value of all
stamps.
6. In the event of the death Of