Evening Republican, Volume 19, Number 290, Rensselaer, Jasper County, 8 December 1915 — FIRST NATIONAL TO DISTRIBUTE $10,010.46 [ARTICLE]

FIRST NATIONAL TO DISTRIBUTE $10,010.46

Accounts Vary From 2 Cents to $03.73 and Represent Saving of Fifty Weeks—Will Be Paid By Check Within Few Oays-New Accounts to Open Dec. 20 LOTS OF MONEY FOR XMAS Thrifty Persons By Savings Which Started At a Penny Or a Nickle Have Accumulated Neat Sums and While Many Will Use the Money During the Christmas Shopping Period Others Will Make Term Deposits of It and Others Will Use It to Discharge Obligations That Might Otherwise Hava Gone Unpaid—New Accounts To Be Opened Up December 20th. Within the next few days there will fee disbursed in Rensselaer the Landis Savings deposits dn the First National Bank. The total sum deposited by the fire hundred savings depositors was $10,010.46. All of this and in excess of SIOO in interest will be paid out fey check within the next few days. Assistant Cashier J. D. Allman has been getting the accounts ready for disbursement and the checks will be out between now and the fifteenth of the month. Probably at no time in the past has there been so much money in circulation just before Christmas in this city and Rensselaer stores will be benefited by the ready cash which these five hundred depositors will be spending. Probably most of our readers are familiar with the plan established by the Landis Christmas Savings system. It provided for accumulative accounts in series of 1, 2 and 5 cents. The penny series was for 1 cent the first week, 2 the second, 3 the third and so on for 6ft weeks, making a total sum of $12.75. If maintained for the year and all payments made on time the interest for the average time would be 16 cents. The 2 cent accounts were for 2 cents the first week, 4 the second, 6 the third and so on and totaled $25.50 at the end of the fiftieth week. The 5 cents accounts totaled $68.75. The interew on the 2 cent accounts was 33 cents and on the 6-cent /accounts it was 82 cents. Some did not pay all the way through and they missed the interest Some made only one or two payments and there was one account of only 2 cents and another of only 6 cents. The new card which will start the accounts on Dec. 20th will provide that the depositors may start at the big end if they desire and pay 50 cents the first week, 49 the second and so on with the penny account or for the nickle accounts start $2.50 the first week and pay $2.45 the second week. There is no limit to the number of accounts that can be opened and the bank hopes to have twice as many accounts this year as last. In the meantime the fortunate persons who paid their accounts all the way through are planning some manner for its disposal and there should be the busiest shopping week in Rensselaer next week that we have ever had. Aprons of every description at the Presbyterian ladies' bazaar.