Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-10-13
NEW PHILIPPINE BANK
Savings Institution Regarded
as an Experiment.
MAY BE COPIED AT HOME
Thrifty Habits Will Be Inculcated
Among the Natives.
STORY OF THE SHANGHAI JAIL
Prisoner Of the Consular Court Did
Not Like His Lodgings, So
He Moved.
STORY OF THE SHANGHAI JAIL


Special CORRESPONDENCE of The Star
MANILA. August 30, 1905
The Philippine Islands will have
postal savings bank system after Sep
TENDER /. The government has made
all preparations to receive deposits and
will be ready to greet it's customers
with promises Of two and half per cent
interest and the wealth Of the United
States government to assure the financial
stability of the institution. 1t Is understood
that the Inauguration Of the system here is
being watched with considerable interest In
the United States, and that If 1t is sue
cess the same sort of a system, with GER
tain notifications, may be started in the
homeland. 1t is not too much to say that
the postal savings bank of the Philippines
will stand monument to the usefulness
and forethought of Governor General Ide
and Comriss, oner w. Cameron Forbes. The
governor general has been the guiding
genius OF all things financial in the Phi lip
pines since the establishment of civil gov
eminent and the business ability of Com
missioner Forbes has been often proven I'm
handling the many delicate problems that
come before him as secretary of tie depart
ment of commerce and police of the insular
government. These two officials drafted the
savings bank bill, which was enacted into
a law by the commission while at the sum-
mer capital at Baguio, Benguet. in May
last.
According to the provisions Of the act.
postal savings banks were authorized in tue
cities of Manila. Ilolo and Cebu immediate
ly. AS much preparation was required be-
fore the post Offices could be put in position
to receive deposits, the time for the open
. ing of the banks was set for September I.
If nothing unforeseen intervenes, the orig
o ~ &c hn nna prn1
on the first day Of September the govern
ment receiving teller will throw open his
window and smile placidly on lorg line of
waiting customers.
Classes of Banks.
There are three classes of banks, arranged
in accordance with the classification of the
Philippine post offices, as nearly as posi-
BILE. Post Offices Of the first class, or post
Offices designated as first-cass banks. are
| authorized to receive deposits In any
amount and to make payments in any
amount, at the request of the depositor. Of
fees of the second class cannot receive de-
posts of more than one hundred pesos
$50 at any one time and no depositor can
place to his credit more than two hundred
pesos during any period of one month.
Withdrawals can be made but twice per
| month. Third-class offices can receive de-
posts in amounts up to twenty-five pesos.
and deposition place to his credit
more than one hundred pesos a month.
Withdrawals can be made but twice per
month.
To encourage the saving Of small amounts
by all the people stamps in denominations
of 5. 10 and 20 centavos coz. and 10
cents) have been authorized and specially
made cards will be issued by the postal
thorties to all depositors. Any person who
has centavos to save can purchase one
Of the stamps of that denomination and
paste 1T on the card prepared for those
stamps. The cards will have twenty divi-
60, +l,<r -
stamps and there will be a different card
fer each denomination of stamps. The
cards when filed will be accepted at any
office for the face value of the stamps at
tached thereto, in accordance with the
class of the office. That is. a third-class
office cannot receive more than % pesos
worth of stamps from a depositor at one
time and SO on. Deposits of cards and
money can be made at any post office in
the islands, in accordance with the class
of the office and placed to the credit of
the depositor, no matter where his original
deposit may have been made. With
drawals can be made In the Same manner,
at any Office, in accordance with the class
of the office.
There are to be three fIst-class o.nces
opened for business on the LIST of Septem-
ber and the second and third-class offices
will be opened as soon as possible there
after. To care for the business of the
, banks a special division Of the ,nsular pos
tai service has been established. the head
of which will be known as the superinten-
dent of postal savings banks. It will be his
duty to see that deposit BOOKS are pro-
vided for every depositor. and that every
person who desires to make deposit shall
have ample opportunity to do So The
government believes that the establishment
of this bank will mean much to the Fill
pinos. and that 1t win encourage saving
among all classes of the people.
After Butterick.
Americans in the orient are Just now
Irac or1i will int off, +l,ot
are being made to capture C. S. Butterick.
an American, who, as an employee Of the
American Trading Company of Teintsin,
China, was accused of embezzlement, tried,
convicted and sentenced in the consular
court at Shanghai to three years imprison-
ment In the Shanghai consular jail. But
terick served three months Of the sentence
and he disappeared. Interest was conferred
! in the matter by the publication of state
ment in a north China paper to the effect
that Butterick was angry because he could
not get into the Jail building when he re-
turned from his evening walk recently and
determined to leave
The whole thing sounded ridiculous and
an investigation of the circumstances was
made with the result that the facts were
found to be practically as stated. 1t ap-
pears that it Is the custom in the Shanghai
consular jail to permit the prisoners to go
out for stroll about 9 o'clock in the even
ing. Butterick was pretty comfortably
fixed In the jail. He had his cooie. or
rather subsidized one Of those connected
with the institution to wait upon him.
which is regarded as legitimate, and he
had a nicely furnished room. AS he had
absolutely nothing to do and was permitted
to go about pretty much as he pleased, he
, was well satisfied with his quarters The
night Waterman at the Jail. a Sikh stated
that the prisoner had several times COM
planned that the jail was closed too early
In the evening to permit him to enjoy his
stroll in the city properly. On the last