Evening Republican, Volume 16, Number 246, Rensselaer, Jasper County, 14 October 1912 — Automatic Savings Device [ARTICLE]

Automatic Savings Device

. The Nuremberg City Savings Bank (Stedtlsche Bparkasse Nuernberg)' a municipal institution, has Installed three automatic devices for the encouragement of saving among school children. These automats, upon the deposit of a 10-pfennlg piece (2.38 cents) in the slot, deliver a gummed 10-pfennig savings stamp. The bank furnishes without charge a savings card, 5 Inches square, marked off into

20 squares, to which these stamps are to be attached. When the card Is filled up, it represents the value of 2 marks (47.6 emits), and upon presentation at the bank, the depositor’s account is credited with that amount. One of these automats has been placed to the corridor of the bank office at the City hall and the other two to the corridors of high-school buildings. These stamp automats cost about $l9O each.

They are installed in the hope that they may Induce children to save their 10-pfennlg pieces rather than spend them for candy. Ice cream, or cither temptations, enough of which are always in evidence. If results are satisfactory. more ofthese automats will be Installed at suitable places.—U. 8. Consular Report