Evening star. [volume] (Washington, D.C.) 1854-1972, 1940-10-21
School Savings Gain
S257,000 in Year,
A. B. A. Survey Shows
Number of Accounts
Carried by Pupils
In Small Decline
By EDWARD c. STONE.


School savings deposited in banks
during the year ending June 30,
1910, totaled S13,11l,3l2, gain OF
s257O0O over deposits during the
previous year, according to a ma
tioral report issued by the savings
division of the American Bankers
Association in New York today.
Of the total amount deposited dur
ing the year S3,889. 646 remained on |
deposit at the close OF the year,
compared with S3,450,676 Of net saw
ings during the preceding 12-month !
period the report says. School saw
ines accounts were used by 2,539,477 |
pupils in 8.427 schools during the /
wear. compared with 2,543.472 STU
dents in 8443 schools a year earlier.
Balances remaining in school |
savings at the close OF the year con-
stitute one of tn, indicators OF llv-
ing conditions among the people (
OF the country the report says. :
The greatest volume of deposits /
are made in the grade schools. where
most of the pupils are less than 10 |
Years of age Normally they repre- !
sent homes where the parents are !
lust becoming established in trades, |
In business or in professional life.
THE deposits come frequently
from gifts. allowances or from earn
ings arising out of work done about |
the home. Thus conditions which |
affect the income of the parents are
Quickly reflected in deposits in
school banks, both in the volume |
od deposits and in Withdrawals.
The liberal remainder in school |
savings this year, amounting to |
about 80 per cent OF the sum de-
Vested. indicates more satisfactory /
living conditions throughout the |
country
k&cn the other hand the report
continues, the fewer pupils depos-
ting during the year bears eloquent |
testimony of the persistence OF un- |
employment and consequent relief
Z. District Total s96,9Sl.52.
THE national report includes the |
school savings figures for the Dis
tfict Of Columbia. An audit OF the
Washington figures was made last /
Aring by members of the auditors
SECTION of the District Bankers As
ISOLATION. the report on deposits by
s4a6ents in the various high schools !
hearc as fo-3OWs:
SMc--:l!ey High School. S31 1874 81; /
Centrcl HgA, l939.E2; Anacostia,
%s73 s.: Roosevelt. s27402.77. and |
E.stcrn. s19.9lO6S, making total of
Srs9S152
s>Thc total nl2!.es an impressive ,
fsure and indicates that there is
deeitcd interest in school s2vines in
Wa ng.on End in this kind of
thrift i
Ba-', AuIi.GrS End COnGiavc.
Washington bankers attending the /.
annual convention of the National !.
Association Of Eank Auditors and |
Controllers in ST. Louis were back |
atstheir desks today, the delegation
Including Raymond G.. Marx, Riggs
National; Arthur J. Linn. Hamilton |
National: James D. Barrett, Amer |
lean Security & Trust Co.. and J.
Arthur Cromwell, Union Trust Co.
The new officers are Charles T.
Meyer, controller, First National !
Bank, Chicago. president; c. w. Bor
ton. irving Trust Co. New York, !
first vice pres dent; o. A. WaldoW, /
National Eanll of Detroit, second |
vice president; Hugh Z. Powers, Lin
coin Bank & Trust Co.. Louisville, |
ssc-e- 2ry. ard John C. Shea. Whit .
ney National Eark. New ORLEANS, +
t.C -Ir-..'
The bylaws we're changed. max
Ing the Office Of secre AIRY and treas
u-er two sc-2ra,c Offices in the flu /
ture. the charge being put into eff |
feet this year. Taymond G. Marx |
was q member CT Nominating Com !
m'ttee.
The convention was the largest
to date, 500 auditors and controllers
being registered, and the program
was considered by the Washington
bankers as one Of the most construc- |
tive vet planned Subjects con-
sldered included auditS and control |
trusts, loans, bank supervision, the |
education of bank auditors, and the |,
wage-hour law and its effect on |
bank earnings.
Railroad Earnings Compared.
Seventeen class l railroads in the |
Southern district had estimated |
operating revenues in September of /,
S29 622 1856, compared with S30,173,- |
993 in September, 1899. and S3347l,-
169 in September, 1880. Operating |
revenues were 18 per cent below |
those for the same month in 1889 |
and lis per cent below September. |
1890
Freight revenues of those railroads
In September amounted to S25021.-
632 compared with S25,708.425 in
September, 1899, and S27152,1 1913 in
September. 1880. Freight revenues
were 81 per cent below the same
month in 1899 and 7.8 per cent below
the same month in 1880.
Passenger revenues totaled S2,410,-
49, compared with S2,323,764 in Sep
ts1ber, 1899. and s3,7O2 .666 in Sep
TENDER. 1890. being 81 per cent |
above September. 1899, but $40 per
cent below September, 1880.
2 Heard in Financial District.
eThe Commerce Department re-
ports that for the first three quar-
tiers of 1910 variety store sales were |
about per cent in excess of the
total for the corresponding period |
ofl939
EThe Federal Reserve Bank of |
Richmond reports that building fig
ures for the fifth reserve district in
tue first nine months of this year
passed the 1889 record total, due to
tie heavy increase in permits in
September. The cumulative total,
So4,O25,916, against s91, 236 SOB.
Leroy A. Lincoln, president OF the
Metropolitan Life Insurance Co..
VIII be chairman of the 34th an
nual convention of the Association
Of Life Insurance Presidents. to be