Evening star., 1952-11-14
Savings vim Banks Report
Record S187,624,5O4
In Christmas Clubs
By Harold B. ROGERS

Many millions of dollars in
Christmas club savings are to be
distributed within the near fu-
ture throughout the country, in
cluding Washington, to bring
holiday cheer. increased trade and
some permanent savings.
Specific reports today on this
important financial development
followed declaration Of dividends
for stockholders already being an
nounced by Washington institu-
tions.
From the National Association
of Mutual Savings Banks came
the statement that Christmas
club owners in the 529 mutual
savings banks of the Nation will
receive within the next few weeks
record total Of $187, ,624,5
This figure is $6,392,217 more
than was saved in 1851. It repre-
sentS the deposits of 2,178,857 per-
sons, and will result in an average
distribution of $86.11 per account,
compared with an average Of
$85.74 last year.
New York Ranks First.
New York ranked first in its
mutual savings banks Christmas
clubs with deposits of 500, ,677 1896
by 997, 1881 depositors, for an aver
age of $93.88 each. Massachusetts
was second. Connecticut third.
Christmas clubs reflect the true
spirit of thrift" according to Rob-
ert M. Catharine, president of the
National Association of Mutual
Savings Banks. He said about 80
per cent of the money saved each
year in such clubs is redepoSited
in regular savings accounts and
"helps to provide a backlog of Sc
curity for thousands of American
families against future contin-
gencies."
Retail trade throughout the
country is picking up already,
partly due to stores introducing
the Christmas theme in promo
tionS and decorations, according
to Dun & BradStreet, Inc. Con-
sumer response was quite favor
able. their report said. Late shop
ping hours and relaxed credit
terms helped to spur shoppers
interest.
Total dollar volume Of retail
trade in the week ended this
Wednesday was estimated by Dun
& Bradstreet to be from un-
changed to 4 per cent higher than
a week ago. Shoppers spent more
for apparel this week than in
either the prior week or the
similar 1851 week.
Bank Loans Set Record.
Washington bank loans of re-
porting Federal Reserve members
rose to a new record of $350,819,-
900 for the week ended November
S, compared with $349,971 900 for
the prior week. according to the
Richmond Reserve Bank.
Commercial loans were up to
$152,545,000 in the same Novem-
ber week compared with $151,587,-
600 the previous week.
Total investments here declined
to $507 .275,O00 from $507, ,685, 900
in the previous week.
Washington bank debts declined
from $1,199,192,000 in October, ;,
1851, to $1,148, TBS, 900 this Octo-
ber, and from 1921 ,389, 900 for
the three months ended October,
1851, to $3,224,952, 900 in the three
comparable months this year.
Lincoln Service Dividend.
The Board of Directors of Lin
coin Service Corp. has declared
the regular quarterly dividend of
S712 cents a share on the $1.50I
cumulative dividend preferred
stock, and a regular dividend of
80 cents per share on common
stock.
Charles Delmar, corporation
president, also announced the
board had declared an extra divi-
dend of 20 cents a share on the
common stock. All dividends will
be payable December II to stock
holders of record November 20.
BabsOn Clients to Meet.
The annual Babson clients con-
ference will be held in the con-
gressional room of the Willard
Hotel at 2:30 pm. next Tuesday.
The meeting. which will be open
free to the public, will be ad-
dressed by Arthur c. Babson, vice
president of Banson's Reports,
and H. Clyde Baldwin, Babson
investment expert. They will dis
cuss the business and investment
outlook for 1858. and "the effect
that foreign and political trends
will have on our national econ
omy next year.
Bank Women to Meet.
Miss Catherine B. Cleary of Mil
waukee, Wis. president of the
National Association Of Bank
Women will come to Washington
to speak to the Capital group of
the association at a dinner meet
ing tomorrow night at Tilden
Gardens.
Mrs. Nell c. Saylor, assistant
trust officer of the Burke & Her.
bert Bank & Trust Co. of Alexan-
dria, Va, who heads the Capital
group, will preside. Miss Cleary,
an attorney and member of the
Executive Committee of the Mil
waukee Bar Association, is also
chairman on Federal legislation
of the Wisconsin Bar Association.
She heads the national associa-
ton of woman bank executives,
which has more than $500 men,
bers. There are about 80 mem
bers of the local Capital group,
from the Washington Metropoli-
tan Area and Winchester, Va.
Excise Cut Urged.
Reduction of the Federal excise
tax on distilled spirits from it's
present $10.50 to $6 a gallon was
urged last night by Jack H. Horns
by, national sales manager for
Schenley Distributors, Inc. He
spoke to members of the Wash
ington Liquor Dealers Association
af tho Hbricfion IIoIlriclo roOy,o