Evening star., 1938-11-16
Yu|e Savings Clubs
For 1899 Will Start
On December |
Banks to Present Aims
Of Organizations in
Joint Campaign
BY EDWARD c. STONE.

BY EDWARD C. STONE.
Christmas savings clubs for 1899
will be opened by about 20 WASH
ington banks on December /, it was
learned in the financial district to-
day.
The new clubs will be conducted
on practically the same lines as were
the 1887 clubs, whose $1,000 men,
bers will soon receive about $7,000,-
600 as reward for their thrift dur
Ing the past II months.
All the banks maintaining Christ
mas savings clubs are members of
the District Bankers Association.
The purposes of the thrift clubs will
be brought to public attention again
through cooperative advertising
Hilleary G.. Hoskinson. president of
the association, said today.
Some of the banks may institute
50-cent charge on any member
who joins a club and drops out be-
fore the end of the year Bank Off
GERS said today that there is con-
siderable cost attached to operating
the clubs, this expense including
the passbooks and an unusual
amount of bookkeeping. Such a
change would prevent loss to the
banks in all cases where members
fail to make their payments for the
full year. Such plan has been
tried in other cities and is reported
to have proved highly successful.
Again in 1889 no interest will be
paid on Christmas savings. The
year just ending was the first in
which the banks adopted this pol
icy, giving as the reason the lack
of demand for bank credit which
made it very difficult for them to
loan out the Christmas funds to ad-
vantage. In 1887, the banks paid IL
per cent interest
High Average Per Capita.
The fact that no interest is paid
seems to have little bearing on the
size of the clubs. This year members
enrolled numbered 8l053. decrease
of only 4,633 from the interest pay
ing club totals of the previous year.
At the same time subscriptions
amounted to $70O5 205. a drop of
S429,769 from the 1887 total.
The average payment to Washing
ton members this year will be
around $50. which is the highest per
capita average in the United States.
Early in the year the average for
the whole country was reported as
S42 go per member. Richmond banks
reported the other day that the
average in the Old Dominion cap
ltal would be S26 a member this
year against S26 last year. The
Washington figure is based on the
amount pledged and does not take
into account those who may have
dropped out during the year
Two ID. c. Bankers Honored.
Wilmer j. Waller vice president
end cashier of the Hamilton Ma
tional Bank, has been reappointed
to the Executive Committee of the
Rational Bank Division of the
American Bankers Association, now
in session at Houston, it was re-
ported here today. He represents
the 5th Federal Reserve district.
Francis G.. Addison, jr., president
of the Security Savings g. CONNER
cial Bank and president of the
Washington Board of Trade, was
also accorded special honors when
he was made member of the
Executive Committee of the State
Bank Division of the A. B. A.. at
Houston yesterday.
Frederick P. H. Siddons, secretary
Of the American Security & Trust
Co, has served as a member of
the Nominating Committee naming
the national A 8. A. slate for the
coming year, M. F. Calnan, presi-
dent of the Liberty National Bank.
was the alternate. Both are at the
convention. The committees duties
this year were extra strenuous on
account of the bitter contest for
second vice president.
Large Attendance Forecast
Paul j. SeltZer. chairman of the
Forum Committee of the American
Institute of Banking, predicts a rec
ord attendance at the meeting at
the Willard Hotel next Tuesday
night, when the Rev. Edmund A.
Walsh, vice president of Georgetown
University and regent of the School
of Foreign Service, will be the guest
speaker. He will speak on Foreign
Affairs The o'clock meeting will
be followed by buffet supper. Wide
interest in the years first forum has
already been shown by the members
of Washington Chapter
Taxicab Officers Elected.
The Union Cab Association, which
has been completely reorganized,
began operations today from a new
address, 80 M street NE, it was
announced by Wade B. Riley, presi-
dent The new officers have per-
fected plans for financing purchase
of cabs for members and providing
liability and other forms of insur-
ance through a local insurance COM
pany.
Besides Mr.. Riley, new officers are
B. A. Pomeroy, vice president, and
Don Anderson. secretary treasurer
The board of directors includes the
officers and J. A. Watson. O. E. Kent
and E. B. Barrett. Arthur Booth
has been appointed general man.
ager, the only salaried officer in the
association.
Bank Debts Mount Sharply.
Debts to individual accounts re-
ported by the banks of WASHINGTON
for October were 10 per cent above
the total for the preceding month,
the same month-to-month gain
shown by the country as whole.
Last months debts equaled the
earlier high recorded in April. The
Standard Statistics Co. index of
Washington bank debts for October
is computed at l43 average of 1920
1924 equals 1000, against 131 for Sep
tember.
The safe deposit section of the
District Bankers Association meets
this evening in the boardroom of
the American Security & Trust Co.