McKinley High School - Nugget Yearbook (St Louis, MO)

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...gf 8135- THE CARNATIQN THE SAVINGS BANK URING the autumn of I92l the Student Council took steps to organize a bank. After some discussion a deci- sion was reached and Mr. Miller asked one of the teachers to take charge of the work and perfect an or- ganization. A constitution and set of by-laws were adopted. The constitution provides for a Board of Directors con- sisting of nine members, seven of whom are elected by, the Student Council from among the students, the other two being the Principal and the teacher selected by the Principal to take charge. The powers and duties of the Board of Directors are very similar to those of any bankg that is, to decide on questions of general policy. The teacher in charge, who is the Cashier, has charge of the daily routine, and selects the clerical force, which, for the most part, is changed every school term. A regu- lar set of accounts is kept and a daily balance is obtained just the same as in any bank, and the same degree of accuracy is required. The banking office is in 218 and business hours are from 8:15 to 8:45 a. m. and from 2:45 to 3:00 p. m. All the funds except a necessary cash reserve are invested in Liberty Bonds and U. S. Treasury Certificates. The pupils at McKinley are taking a very decided interest in the idea of saving. This is shown by the fact that with a school population of less than l,500 there are over 1,000 actual accounts on the books. Many of the pupils begin to save during their first year in school, so as to have money to meet necessary graduating expenses. Others save for any emergency that may arise. Some of the pupils use the school bank as a feeder to an account in some of the regular city banks. They deposit in the school bank in small amounts, such as the larger bank would not like to accept, and when their account amounts to enough, S l 0.00 or more, they withdraw from the school bank and deposit in the larger bank. lt not infrequently happens that some of the pupils who have been saving systematically find themselves confronted with some emergency which requires the use of more money than they have at hand at the moment. They then understand the value of hav- ing something in reserve when they can come to the school bank and get what they have saved in a time of prosperity to meet the emergency which has arisen. Many instances of this kind may be cited. ln one case a girl wanted a new dress. She could come to the school bank and get enough money to supply the want, money that had been saved in small amounts. ln another case a boy needed a new pair of handlebars for his bicycle. He could come to the school bank and get enough money to supply this need beca-use he had been systematically saving the dimes and nickels which had come into his possession. Another boy found himself wanting a new suit. His account at the school bank supplied the funds to satisfy his desire. ln addition to the practical benefits that the systematic de- positor may receive there is the benefit of the formation of one of the most helpful habits that may be formed--the habit of thrift-to save something during early life to protect against ad- versity that may come with more advanced years. BOARD OF DIRECTORS. BY BARBARA MILLER. K 4

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THE CARNATION .-,ggi 7 IVIcKlNLEY HIGH SCHOOL

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THE CARNATION ...sq 9 THE SAVINGS BANK