Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-01-22

savings bank system has not been actually
established.
How Funds Are Transmitted.
Sec. Is. That moneys deposited in the
postal savings banks hereby established
shall be transmitted TO the postmaster gen.
eral by the postmaster receiving the same
in such manner and at such times and in
such amounts as the postmaster general
may direct. Such moneys when received by
the Gntld sta ensT Sey m
be kept in an account separate and distinct
from any and all other moneys on deposit
therein. to be denominated Postal Savings
Bank Account"
Surplus Distributed.
Sec Is. That the surplus in the United
States treasury. necessarily carried to
meet the Withdrawals of depositors. and not
shall be deposited by the secretary in
United States repositories throughout the
United States. with due regard TO the
equitable distribution Of such surplus in
the states from which the postal savings
bank deposits came; provided, however
any state in which the postal savings bank
system has not been actually established.
Postmaster General Shall Regulate.
Sec. Is. That the postmaster general shall
I have full power and authority TO make any
/ the proper operation OF this act, and he
| may alter and amend the same, and SUCH
rules and regulations not in conflict with
, force and effect as II incorporated herein,
Report 10 Congress.
! Sec. Il. That the postmaster general shall
/ submit report TO congress, at the opening
OF each regular session, touching the opera
/ ton OF the act. and such report shall show
! the number and location OF banks estab-
lished. the aggregate amount OF deposlts
| therefrom. the expenses Of operation the
/ amounts then subject TO the several rates
Of interest, the rules and regulations pre-
! scribed by him, and oil other facts which
/ he may deem pertinent and proper 10 pre-
/ sent and he may suggest amendments 70
| this act
| Secretary of Treasury 10 Report.
Sec IS That the secretary Of the treas
| ury shall submit report 10 congress al
| the opening OF each regular session. which
| shall show the amount OF the postal saw
ings hank funds on deposit IN me tressnrg
| eminent for general purposes and for what
/ purposes the same were used, the amount
! invested IN United States bonds. bonds
! guaranteed by the United States. and state
| bonds, In each instance giving the de-
nomination or description q said bonds
| and the numbers thereof. The secretary
| may include in his report such other mat
| tiers as he may deem pertinent and proper,
| act
Rural Carriers Receive Deposits.
! Sec IS That the postmaster general may
authorize rural letter carriers to receive de
| posits and distribute Withdrawals, under
! scribe
| Additional Assistance Authorized.
/ Sec. 20. That the postmaster general and
| the secretary OF the treasury shall be, and
they are hereby. authorized 20 create H.
| their several departments all additional
| of1ces necessary for the transaction OF the
| postal savings bank business. and they may
! employ any and all clerical and other
assistants necessary IN the discharge OF
the duties devolving upon them in carry,
ing the Law into effect. and the postmaster
general Is authorized "a prOvlce, in any 81
| the pnstofnces made repositories under tins
provisions hereof. all assistance actually
required by the postmastsrs TO enable then
20 perform the duties devolving upon then
under the provisions hereof. due regart
| being had 90 economy ia the public service