Evening star., 1941-11-12
Christmas Savings
Clubs Planned by
19D. {. Banks
Subscriptions for Next
Year Will Be Token
Eorly in December
BY EDWARD c. STONE.

ers' Association are expecting to
operate Christmas Savings Clubs
again next year, opening them to the
public on December l and keeping
them available to subscribers until
the middle of January, it was an
nounced by association officials
today.
The clubs will be opened early in
December. as many patrons of this
years club will want to use a part
OF their funds in starting their 1912
memberships, bankers explained.
This is always true. many members
having been Christmas Club savers
for more than Is years.
Plans for the 1912 clubs followed
announcement that about 10000
members of the 194l Christmas Saw
ings Clubs in 10 Washington banks
will receive approximately S5,50O,O 900
late this month or early in Decem-
Der. The checks are now being
drawn.
Funds Used in Many Ways.
The s5,5O0.000 to be paid out Is
practically the same as the total
paid in 1910, There were also ap-
proximatelv 10000 members in last
years clubs, the records disclose.
The money is paid much earlier than
in the first years of the club savings
MAN. in order to give members the
best possible selections from hollday
goods. bank officials said today.
In the past it has been found that
In addition 10 gift buying, Christmas
Savings funds have been applied to
taxes, reduction of mortgages. lnSur-
ance premiums, travel, education
and various forms of charity. How
ever, a major portion of the deposits
will be use in holiday trade IN WASH
ington which is expected TO be the
best on record and at least 20 per
cent better than year ago. DIS
tribution of so much money between
THANKSGIVING and Christmas is GER
tain to be a vital factor in holiday
trade totals.
Bankers said today that some sub
scrlbers TO the l94l clubs failed TO
keep up their payments and dropped
out. In such instances, some OF the
banks make charge 10 cover the
cost of bookkeeping. paSsooohs. etc.
There we're few such cases, however,
the clubs maintaining their popular
ity throughout the year.
Committee Plans Advertising.
The advertising Committee OF the
District Bankers Association Will ar
range the cooperative advertising
of the new clubs. No interest Will be
paid Many banks will again use the
two-week payment plan, avoiding
the expense of the weekly install
ments. AS the Government paws en-
ploves every two weeks. many club
members are in the banks on pay
davs. anyway. and have to make no
extra trips.
H. T. Bisselle. vice president, Riggs
National Bank, is chairman OF the
advertising committee; Eliot H.
Thomson, Washington Loan &
Trust Co.. Is vice chairmen and the
other members include E G. Child
ers. Morris Plan Bank; Aubrey o.
DOOlev. assistant trust officer, Ham
ilton National Garrett A. Pendle-
ton. assistant treasurer, McLachlen
Banking Corp; C. D. Ratcliffe,
vice president and treasurer, Mum
sey Trust: and Francis E. Robey,
cashier, Bank of Commerce & Saw
tngs.
Taliaferro Heads Chest Drive.
Sidney F. Talaferro. vice presi-
dent and trust officer. Riggs Ma
tional Bank, and third vice presi-
dent of the District Bankers Associ-
alton. has recently been named
chairman of the banking group IN
connection with the Community
Chest campaign.
Just now Mr.. Taliaferro is giving
the matter great deal of attention
Key men have been selected in all
the banks and trust companies and
arrangements made TO press the
campaign vigorously.
Donald w. Larson, secretary of
the District Bankers Association. is
vice chairman of the fiancial group.
Pepco Sales Hit New Peaks.
Hanging up a new October record
kilowatt hour sales of the Potomac
Electric Power Co. in the District of
Columbia totaled 90,048 800 hours,
against 73129.785 in October, 1o40
an increase of 16,918,575 kilowatt
hours, or 2313 per cent, company
officials reported today.
In the first 10 months of this year
the power company's kilowatt hour
sales reached another all-time peak.
The total of 840.210,372 compared
with 709,275 ,020 in the like period
last year an increase of 13O,935 1852
kilowatt hours.
With the exception of July and
August. October sales were we'll
ahead of other months this year.
August was the best month, sales
reaching 94,338 .486 kilowatt hours.
Auditors to Study Taxes.
The auditors section of the Dis
trict Bankers Association. meeting
tomorrow evening at the Roger
Smith Hotel. at o'clock. will have
a program devoted to income taxes.
as relaxed to banks, corporations and
individuals.
Among the forum speakers will be
Julius Sinker. a tax expert; Henry
A. ONeill of G. P. Graham & Co.,
and T. Delos Paxman of Wayne
Kendrick & Co. All the speakers
are certified public accountants
Raymond G. Marx. controller, Riggs
National Bank, will act as forum
chairman.
Yule Shopping Under Way.
With the calendar showing 36
shopping days before Christmas, the
Associated Press today stated that
q Nationwide survey shows holiday
trade has already started.
Experts predict that from 10 to
Is per cent more help will be needed
during the next six weeks than a
year ago.
The supply of temporary male
help. normally available for few
weeks Of Christmas work, has been
cut into sharply by the flood OF de-
fense jobs, steadier and often better
paid