SLOT MACHINE BANKS.

King Country Chronicle, Volume VIII, Issue 670, 20 May 1914, Page 6

SLOT MACHINE BANKS.

About three years ago the slot machine savings banks were established in Buda Pesth. The machines were arranged for the receipt of two coins', the crown and heller piece. The contrivances put, out a ticket for each coin deposited, and these coupons carry interest, the rate paid varying with the current bank rate, and ranging normally between 3 and 4 per cent. When a depositor has secured 110 tickets he has the option of taking out a bank book. Tha machines are constructed so that in the event of a counterfeit coin being deposited the number on the coupon issued in regard thereto is ascertainable, and consequently the voucher can be cancelled. At present there are in use in Buda Pesth fourteen of these contrivances, six of them standing in front of branches of the bank; a like number before public markets and two at the entrance of a large manufactory. It is noteworthy that the receipts in the last two mentioned have been invariably less than the takings of any of the others. The machines continue to gain popular appreciation, and the system is to be estendpd. In 1912 the sum placed to the credit of slot depoistorß represented 65,000 crowns. The bank's actual profits on the operation of the invention are stated to be small; but there is an advertising value in them, and it has been found that by their use the binks ha~e been brought into business relationship with a class of people which it would be extremely difficult, if not quite impossible, to reach, by any other tried means, in addition to which there is performed a useful social service in the inducement and opportunity for thrift which is offered by the slot savings boxes.