Evening star., 1945-11-13
Rise in Christmas
Savings Reported by
Industrial Bank
Bx EDWARD C. STONE.

Maintaining the only CHRISTMAS
: Savings Club in Washington. the
Industrial: Bank, Eleventh and U
! streets NV, will distribute $273 ,470
. to 1000 club members on Decem-
+, ber /.
This is a substantially larger
amount than the $236,000 paid
2 Christmas savings club members
I last year, officials said today. For
/ several years the club has been
! growing steadily, this years pay
I ment being the largest yet recorded.
7 Industrial Bank officials consider
the Christmas club as one of the
best possible methods of teaching
thrift to their patrons. This year
they prepared 1000 books in ad-
=. vance of the opening date and every
one was taken.
Mutuals to Pay S111,385,19
I Christmas club owners in the Ma
/ tion's mutual savings banks will re-
1 ceive total of Sill 1886 1856 at the
end of this month, divided among
( ,608 $50 depositors, according to
I the National Association of Mutual
Savings Banks.
! This figure is $25 10000 more
than in 1914 The average payment
Twill be $69.25, an increase of $3.50
hper account. New York ranked first
with deposits of $45 1897 ,681
! Group Insurance Adopted.
Washington members of the As
sociation of Stock Exchange Firms
have received the annual report of
President Wymond Cabell, the year S
high light being the adoption of a
group insurance program. There are
now 81 firms covered, aggregating
100000 in life insurance and en-
bracing 1000 employees and partners
Extension of the Uniform Stock
! Transfer Law to the District of Co.
Ilumbia and five States was accom-
plished during the year. All SEC
Irulings we're distributed to members
land interpreted when necessary. All
committees were unusually active in
injecting rapidly changing conditions
| Staver Starts Mexico Plants.
| L. D. Staver of this city, president
iof Gilbert Associates, Inc, interna-
tional engineers and consultants, is
flying to Mexico City to participate
in ground breaking" ceremonies for
,several new factories his firm will
build for prominent American
manufacturers, now engaging in in
,dustrial expansion of Mexico. They
include Westinghouse Electric Corp,
whose Mexican license is Industria
Electrica de Mexico, S. A, a IS ,000,-
900 pesos corporation whose recent
capital stock sale in this country was
overSubscribed on the day offered !;
Reynolds Metals, and Johns Man
vile,
Gilbert Associates are playing a
leading role in formation of busi-
mess partnerships between Good
iNeighbors," Mr.. Staver explained
In Mexico 1t has Incorporated with
Mexican flnanciers and Industrial
lists, "Gai-Mex, S. A." engaging in
business surveys and factory con-
struction; and for other Latin
American countries a similar organ
ization has been established known
as Gai-Pan American Corp. Gil.
bert Associates maintain Offices in
Washington, New York City anc
Reading, Pa.
Bank Program Announced.
Leo T. Crowley, former head o.
the FDIC;; Frank j. Rathje, presi-
dent of the ABA; Maury Maverick
general manager of the Small Wal
Plants Corp, and James Twohy
governor of the Federal Home Loar
Bank System, will address the an.
nual meeting of the National Asso-
citation of State Bank Supervisors
in New Orleans November 1880.