OCR Interpretation

New-York tribune. [volume] (New York [N.Y.]) 1866-1924, January 02, 1922, Image 9

Image and text provided by Library of Congress, Washington, DC

Persistent link: https://chroniclingamerica.loc.gov/lccn/sn83030214/1922-01-02/ed-1/seq-9/

What is OCR?

Thumbnail for 9

advm: l isi;\;kvi i ADVERT1SEMENT
Thc response to the opening oj thc Compounu Interest Department has been ? > spontaneous
that The T^ational City Banl{ of l\cw Tor}\ ta\cs this means of further <.?Ji using thc public < ou
cerning thc Department's facilitics and of the advantages that may accrue io mdividuals through il
You are at the Crossroads!
Benjamin Franklin said-?
Remember lhat money is oj a prolific, gencrating nature. Money can beget
- money, and its ojfspring can beget more. and so on. Five shillings turned
is six, turned again u is seven and thrcepence, and so on 'til il becomes onc
hundred pounds. Thcmorc there is of it thc more it produccs every ( iming, so
that the profts rise quic\cr and quic\er. '
HE year that just closed was a hard
one. Thousands who never felt the
pinch of poverty before felt it during
1921. Never in thc lives of the present
eeneration havc conditions been so disturbed or
unccrtam; never havc the improvident had so
inuch reason to regret their lack of money to fall
back upon.
Even those who escaped financial worries dur?
ing the past year were nevertheless impressed with
thc wisdom of making some provision for unfore
secn contingencies that the future may hold. In
short, nearly everyone has promised himself that
with thc new year he will take steps to protect
himself against the possibility of financial mishap.
Thc strong mmded will adhere to this good res
olution and regularly bank a part of their incomc;
the weak will find themselves at thc end of thc
year just where they are now. Thc first of the
year bnngs many bills and obligations and it will
be hard not to say eTll start to put away some?
thing next month." Then will begin thc process
of separating thc sheep from thc goats. Those
who resolutely keep their promise to themselves
will iind at thc end of the year that the effort
was worth while even if it had been ten times
as hard. The "next month" group will bc at
this time next year still 111 the "next month" frame
of mind.
This is going to be a year of Thrift. Thousands
who never realized the necessity for an anchor to
windward realize it now and will act accordingly.
For these thousands The National City Bank has
a message and a service. At its Uptown Branch,
Forty-second Street and Madison Avenue, it has
established a Compound Interest Department.
Accounts may be opened m this department by
depositing $1 or more, and on all balances of $5 or
more interest will be paid at the rate of 3V2 per
cent per annum, compounded semi-annually.
For Financial Independence
Bv opening an account m the Compound In?
terest Department you may lay the founda
tion for financial independence and you will bc
establishing business relations with the largest
Bank 111 the United States, a Bank that can offer
you every modern bankmg facility. The National
City Bank is now more than 109 years old. It
was organized three days before the War of 1812
was declared, and through all the vicissitudes
which the country has experienced it has
maintained its matchless record of prudent, coiv
servative management andunquestioned solvency.
"The man who invented interest was no fool!
a wise man once observed. If you have ever strug
gled to pay interest you will realize the truth oi
those words. Practically everybody either pays or
Announccs that for the conveniencc of
the public the
u'lll bc- open daily dtm'?ig the following hours
Oa.M. W VJ P.M.
Saturdays 8:30A.M. to jp.m.
Accounts ivill be operied on deposit oj $i, and bdlanccs
of $5 or more willdraw interest, compourtded senn anmi
a%, at the rate oj
3 ) 2 per cent
J Deposits mddc up to and including January
ioilt unll draw interest from January ist
]' Accounts may be opened and deposits
made by mail
. t- ??'
receives interest. You may not be conscious of it
but you are paying it just the same. If you pay
rent, itis probablc that part of it goes to pay interest
on a mortgage on the building you live in. Part oi
your railroad and street car fares goes to pay
interest. ln fact, modern society is organiz,ed in such
away that it is impossibleto escape paying interest
in one way or another. But if you conserve your
income or resources properly you can be one oi
those who collect interest as well as one of the larg :
number that merely pay it.
Financial independence is within the reach oi
nearly everybody, but it is attained by few. Where
will you bc at 65? Statistics show that of one
hundred people 25 years old, 54 will be dependent
on others at 65; 36 will be dead, many of them
for want of attention that money would have
secured; five will be working for a meagre living;
four of them will be welko-do and one will be
independent. Out of the entire 100, only five will
be in satisfactory circumstances. Yet. proper
measures taken m youth for conserving their
incomes would have secured financial independ'
ence for many more out of each hundred and might
have saved the lives of many who died before the
age of 65.
Putting aside something regularly is buying fi**
uancial independence on the partial-payment plan.
? t i; simple, certain, does not cntail undue sacrifice,
and in peace of mind and self respect is worth
more than words can desenbe.
Depositing by Mail
To uttlize the Compound Interest Department
it js not necessary to come to the office of the Bank.
For those who may find it more convcnient or who
1 ive too far away to make a personal cali, the Bank
will extend exactly the same service by mail. Ao
counts may bc opencd and deposits made by mail.
Passbooks will be mailed to all who open accounta
m this way, and the book can be mailed whenever
it is desired to make further deposits or to with'
draw money. In thc Iatter case, the Bank will mail
its own New York draft to the depositor. Banking
by mail is safe, convenient and a great saver of
time. By this method, the facilities of the Bank arc
made available to all, no matter where they live.
A man who became wealthy manufacturing
mustard said that he didn't get rich on the mustard
rhat people ate, but on the mustard left on the
plates. You will never become mdependent on thc
money that you earn, but on what you don't spend.
J^lever Too Late
1 r is never too late to begm to accumulatc money,
but thc thrift habit, if acqriired in childhood
usually lasts through life. Parents are anxious that
their children be well schooled m arithmetic,
grammar and thc other usual subjects, but they
often overlook thc fact that children may be
schooled m thrift as well. Fathers struggle to ac
quire a competence to leave to their children and
carry life msurance for the same reason; a child
can bc given no better heritage than the habit of
thrift and thc selfdependence that is an insepar
able part oi it.
Accounts may bc opened in the Compound
Interest Department of The National City Bank
either by parents for their children or by children
for themselves. It is well for parents not to over
look the feeling of assurance and self-respect that
comes to a child who goes to the Bank the same
as a grown person and opens an account for him?
Whether money comes to you in large or small
amounts, try to put part of it away regularly each
week or month where it will not only be safe but
will earn interest as well. You may think youhave
a safe hiding place for your money-you may not
fear the "Ramy Day," but the story goes that one
of his gcnerals said to Washington," The British
caiVt break through here." 1 know they canY' said
Washingtonfbut I am going to see that they don't.''
"The best way to accumuhtc money is to resolutely ban\ a fixed poruon ofyour mcome no matt
cr how small thc amount."?Andrew Carnegie

xml | txt