Evening star., 1938-12-07
Big Gains indicated
In YuIe Savings
For 1899 Season
EnroIIments and Amounts
Both Show Coins
Over Year Ago
By EDWARD C. STONE.

BY EDWARD 4. SIONE.
Christmas savings clubs for 1889,
opened by 16 Washington banks a
week ago, are getting away to a
flying start, both the number of
enrollments and the amount of
money subscribed being substantially
ahead of the same period last year,
an unofficial survey disclosed today
Inquiry at more than half the
banks maintaining these popular
clubs brought reports of an uneX-
pected rush, every bank announcing
more members and larger subscrip-
tions than was the case in the first
six or seven days in 1887.
Asked to account for the influx,
which in many instances has almost
swamped the tellers at the Christmas
savings club windows, bankers said
today that they could account for
the upswing only by the fact that
business in general is getting better
steadily and that people have more
ready money than they had in their
pocketbooks or their bank accounts
year ago.
The Christmas savings idea is
more firmly rooted here than in
most other cities in the country.
The average savings laid aside by
the members this year was nearly
double the average for the whole
Nation. This year the banks merely
announced their plans for opening
the clubs making no attempt to
stress the value of the clubs or the
Importance of thrift That is why
officials are so surprised as they look
at the number OF people going up
to the windows.
1t was reported today that a good
many of the new members are
making their first payments for 1899
from their 1898 club funds received
few days ago. Enrollments in the
new clubs will close on January 7.
Right now the popularity of the
clubs seems to be just as great as
when the banks paid generous inter-
est on each account.
Capital Traction Bonds Up.
Capital Traction 5s have recently
displayed added strength on the
Washington Stock Exchange, being
more active and registering higher
quotations. Two 81 900, one $500 and
$4,000 transfer were recorded on
the exchange yesterday at IS, up
from recent sales at 63i2. Members
OF the exchange lay the advance to
the more favorable October report.
Interest is unabated in Anacostia
81 Potomac r. R. SIS. which regis
tered Sc on the last sale. The final
court ruling on the liability for these
bonds is awaited with deep interest
by individual investors and several
Washington banks. Answering the
pending suit, the Washington Rail-
way g. Electric Co. and the Capital
Transit Co. denied liability in
statement filed with the court last
week.
d. c. Underwriters Meet.
Three Washington insurance
agents-Dwight l.. Scott, William M.
Werber, jr.. and Roy B. Lanham-
addressed the December luncheon
meeting of the District Life Under
writer's Association at the Willard
Hotel yesterday. AS producers with
excellent records, they presented
many interesting ideas on ways of
increasing sales. w. M. Werber, in
addition to being an insurance agent
in the winter, is the star third base
man on the Philadelphia Athletics
in the summer.
Richard w. Griswold, president of
the association, introduced several
new members and announced that
there is movement on foot to have
the membership year run from July
to the end of June instead of from
January to the end of December.
Most of the other associations in the
national organization have the July
plan and it was the national organi-
cation that requested the change.
More than 200 underwriters were at
the meeting.
Liberty Pays Yule Bonus.
Directors of the Liberty National
Bank have declared Christmas
bonus of two weeks salary for all
employees of the bank. President
M. F. Calnan announced today. The
disbursement has already been made
and portion of it placed in the
channels of trade. This is the third
bonus distributed by Washington
bank this year.
Books were closed today on the
sale of 375000 shares of North Amer
ican Co. stock, formerly owned by
investment trusts. which was offered
at 2lA. Two local firms, Y. E.
Booker and Johnston, Lemon & Co.,
were among the underwriters selling
the stock. Several out-of town
houses, with Offices here, also had
blocks of the stock.
The Metropolis Building Associa-
ton was 72 years old yesterday.
Assets now total $5,58l 900. Officers
include Harry G. Wilson. president,
John Scrivener, vice president: Ed
ward A. Trip, secretary, and Rudolph
w. Santelman, treasurer. The
directorate is made up of the officers
and George A. Slebert, William A.
Simpson, Harry M. Wiegand, Mar
tin T. Wiegand, Arthur Seagren,
w. A. Simpson and Harry E. Tripp.
Mergenthaler Leads Market.
Mergenthaler Linotype led trading
on the Washington Stock Exchange
today, opening with 40 and 35 share
lots selling at 237s. Later IL more
shares sold at 2334. In yesterdays
market two 50-share transfers were
recorded. Attention is said to have
been turned to the stock by the
labor situation at the Brooklyn
plant.
Two $1,000 transfers in Capital
Traction SIS were recorded at IS.
Washington Gas Light preferred
was strong at 105. Washington Rail-
way & Electric preferred appeared
on the board on small turnover
at lis.
j. C. Penney Co. declared an extra
yesterday of 81 and the usual divi-
dend of rs cents, while Greyhound
Corp. voted an extra of 80 cents and
regular quarterly dividend of 20
roy,tc