The DeLand weekly news. [volume] (DeLand, Fla.) 1887-190?, 1906-08-10
PHILIPPINE EXPERIMENT
Postal Savings Banks 10 Ne
Tried In the Islands.
STAMPS USED n LIEU or OAsz

i
- - Elaborate aesssatsoas'-C III
arsa may 0psa TAsis Ows A.
soaass-DsDs.sss sSs - n PassA
There has recently hen Feceived In
IL bureau q Insular affairs. war Do
paFtment. = copy % tls act adOVted ~
ths Philippine eODmissiOo On May -
which provides fOF he establishment
q q postal savings bank IN the PhIllp-
pines. says q Washington correspondent
af the PhIladslphla Pubisc Ledger. ~
~ provisions there II created the postal
savings bsnk division ~ the bureau %
posts. under th@ dlrecti0a % the depart
neat of commerce and police. which 10
10 - under the immsiiate charge % a
ef8csr who viii be required b give
bOad IN such amount as may b. aEed
sy the IRsular auditor and win eursties
approved by him.
Postal savings banks are 60 b imms
diately established IN ne principal
cities. Nanlla. llOilo and Cebu. and Ia
ne other cities. towns and villages as
rapidly as possible. These hanks are a.
vtsed into three CLASSES. arst. secOnd
and third respectively, and provision h
made whereby any person OF sOrIety
having a deposit account win the I'Os-
tai Savings bank Is permitted 10 make
DEPOSITS 20 the credit % 90 withdraw.
als from said aceeunt "a any postal
savings bank In the Philippines Ranks
% the nrst class mag receIvs deposits
and permit Withdrawals 10 any amount
subject 60 the prOvislOns % the enabling
act A limitation h PLACED on The
amounts which may be deposited In &C
Withdrawn from Those 20 the second
and third classes st any time and on
The aggregate deposits Whlch may b
made In one calendar mORfh % ths
credit % any Que account
Savings hanks q the third class mag
receive deposits oaly 30 The fern q
postal savings lana ssamps whiis
tboes % the trst and second Glass;
nag receive 10th currency and seamps
60 Deposit The maximum Of deDosltA
cEeaits ana wtthdFaWals provided fog
asS dOublsd In ths eMss % chantahla
and bensvOlens sOcietieA IN postal
savings hank STAMPS rsfsErod % are
10 hs ca sale at al postal SAVINGS
lnnks On denominations u nss. ten ana
tSsoty centavos respectively. for ia
DuFpOss % facilitating deposits q
.nali savings aud extending the priv.
lesss q tbs postal savings banks % N
smaller eommanitlss
Any psrsSa purcAastns sh.ss stamps
wfzl b. furnished without charge. an
cards arranged Win tea -
twenty spaces each hearing . alstiae-
I've numbeF and Of three diRssens CO..
OrN arranged tOS tn three asnemina-
tions q stamps wh1ch are % hs PASTED
en- them Thsss ssausD cards On being
eibsd with stamps may ~ dsvosstsa
N any postal savings hank In tn Phil-
ippines - n they were moasy % ehs
amount repressnted By TIE face Valas
% the stamps. All sach stamps reessv.
Cd for deposit are 20 10 cAncelsd at ~
time Tie deposit entry 10 made % GO
depOsitor's credit. and when uncancsl
81 they may ~ rsAsemsd "a faes value
n postass stamps An employees -
ths haRh and al thoss Intrusted win
IL handling o. custody g thsas
stamDA WHISTLER caneslsd % net. ere
AsAd Irresponsible foT them In ths same
naRnsF and % TIE same sEtsnt as q
thsy we're insuiar monsy a. sqnai
value.
Any psrson stx years e aGs O. OgsE
IN ths PhiiipDines and nj ~
esr legal Disability msy opsa an &c
oount % his Own credit
4ny charitabls o. bensvOlpnf sOcissy
N TIE I'hilippinss may open and main
AIN IN acc0unt IN the postal savings
bank win ths approval IN wiring e
Ne director % posta. but NJ psrsoa 90
locisty mag have more than ons &C.
soanf 20 hls o. lea ersdia In his o. IN
yun name under he psanlty Of scrfsta-
ne under due PROCESS q hw - Per
'ent q an deposits - held coaarary %
30. A deposit boa wiIi b funishsa
'aeh deposition free. into which an ers1- |
- must ~ entered fer depasils mads
N snteres1 accrusd
tsssrsst % ~ per cent par snnsn
gth bs allowed On aa deposits snfil |
'reetical szperssnes ahan assaonrfrses
hat kiEhss rata eaa % safety EuaH |
Intes4 neney % o. eFsllt C any /
lepositsr b ezeess q Leoo pssos shall
90 bar intsrsst szsaVt N a. caae e
AaFitnbls ana bsnsvoisni insl1futtoaa. |
shsa tn naximgm Win bs aooo pssss
sAouh ths earnings % sny asusl
ear exosed IN amSuaf nsceszary eug
~ payms1t a interest," and tks o. Il
'enses of aA1inistratfoa ths eufplus b
D 10 60 azsds 90 Q postal savings -
ave fanA whieh wfll % tnvcwlsa ana
'srmittod % sccumuiats uaafl n sAall
qnai . psr ecat g tnssrsnt beariag 90
'esitA and any nst earnings n s1Al-
~ % ne amouna nscsssary % sslnbr
N and maintala tia reserve fund y @
o ussa fsr 60 vaFposs 60 tnersaslnx
10 rate q snterssa payable on asposita
An ths postal savings hank fun6s anA
u preeesds thsnsfFom sss % - ksps
, . ssparsas truse fEn1 ~ ths tnsalar
EaegBrof, AMI Gka tnvnxanani a o. |