The Sentinel=record., 1910-01-28
BILL ON SUBJECT LIMITS oEPos. IToRs TO MAXIMUM OF $500
 IN THE INSTITUTION.
But One Account Can Be Run by an Individual and Only s1oo in Any One Month May Be Depos-
 tied for Savings.

WaShlnSton, Jan. 2(.-The postal
 savings bank bill drafted by Senators
 Carter, Deliver and Owen, a sub-com-
 mittee of the committee on postoffice
 and post roads, was perfected today
 and was introduced in the senate.
 It was referred to the postofflce
 committee and probably will be re. | ported back to the senate tomorrow. The bills originally introduced on this subject were considered with great | care and a large number of changes
 were made. Particular attention was given to scheme to prevent the con centration of postal deposits in the money centers of the east.
 This objection to the establishment of postal savings banks has been met by provision allowing banks receiv- ing the postal funds for safe keeping fc give indemnity bonds in lieu of col lateral security, which obviates the necessity of banks going to bond cen ters to purchase the securities secur- ed by the government.
 The bill provides there shall be es- tablished a system of postal savings Repositories under the supervision and direction of board of trustees, con sfs.ing of the secretary of the treas ury. the postmaster general and at torney general acting ex-officio.
 This board is authorized to make all regulations governing the receipt, transmission. custody, investments and repayments of moneys deposited with the postal Isavings banks.
 The board is required to report to congress at the beginning of each ses- sion the number of postoffices receiv- ing deposits in each state and terri tory. the aggregate amount of depos it's and the aggregate of withdrawals the amount of interest paid and the the postal savings bank system. All postoffices of a class authorized to issue money orders and such oth- CTS as the postmaster may designate, are declared to be postal savings de- positories. They are to receive de- rosits from the public and are to be kept open for the transaction of busi- l4uH 1as holidays excepted, during the usual postoffice business hours of the town or locality where the Repositories are located
 It is provided however, that the postmaster general may limit at first the number of Repositories to money order offices of the first. second and third classes, and extend the system thereafter ss rapidly as practicable Accounts may be opened in any pos tai bank by any person of the age of 10 years or over and by married wo- men in their own names and free from any control or interference by their husbands. No person will be permit ted to have more than one account. An account cannot be opened for less than one dollar and no more than $100 can be deposited in any one cal endar month. All deposits must be in multiples of one dollar, but in or der that smaller amounts may be accumulated for deposit, savings cards will be issued and ten cent postal
 savings stamps sold. When these cards and attached stamps show an investment of $1 or multiples thereof. they will be received as deposits
 Deposits in postal savings banks
 will draw per cent interest, credited
 to the books of depositors once in
 each year No persons will be al
 lowed to have balsnce in postal
 bank in excess of $500, exclusive of 1 accumulated interest.
 Funds received by postal savings banks are to be deposited in any solv-
 e.st hank ns hanks snhiect to public