Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1910-06-11

ma of North Dakota, Hubbard of Iowa,
Lenrott Of Wisconsin, Nelson OF Wis
cousin, Morris Of Nebraska and WOOD
Of Iowa.
After a motion Of Mr.. Moon Of Tenn
essee to recommit the bill to the COM
mittee which reported it had been de-.
feated, the House voted on the maj
passage, the vote being 1876 to- ~
twenty -four Democrats voting with
the Republicans, as follows: Aiken OF
South Carolina, Ansberry OF ONO, ASH
brook of Ohio, Cox Of Ohio, Foss OF
Massa chusetts, Foster of Illinois Ham
mond of Minnesota, Havens Of New
York. Henry Of Texas, Hitchcock OF
Nebraska. Hughes Of New Jersey, Kin
kead of New Jersey. Mcguire OF Neb.
raska, Martin Of Colorado, Moss OF
Indiana, Nichoil Of Pennsylvania, o.
Connen Of Massachusetts, Ransden OF
Louisiana, Rucker Of Colorado, Sabatn
of Illinois, Sharp Of Ohio, Sulzer OF
New York, Taylor Of Colorado and
Tou Velle of Ohio.
Provisions of Bill.
Under the terms Of the bill passed
by the house board Of trustees Is Gre
ated consisting Of the postmaster gen.
eral, the secretary Of the treasury and
the attorney general who shall de-
postal savings banks. Deposits in these
banks made by any one person shall
not be more than 500 a month or ex-
coed in total of $500. An account may
be opened with 81, but stamps OF III
cents each will be issued for those de-
string to accumulate money to be DE-
posted On deposits 2 per cent interest
per annum is to be paid. $500
Any depositor so desiring can e1.
change his deposits for government,
bonds to be issued in denominations OF
$40, $40. $50, $50, 500 or $500 to beal
interest at IN per cent per annum.
The money accumulated in the post
al savings banks Is to be deposited IN
both national and state banks in the
vicinity Of the postoffices in which the
money is deposited by the people, such
banks to pay ~ per cent interest.
Five Per Cont Reserves.
Five per cent Of the total deposits IL
to be retained by the secretary OF the
treasury as cash reserve. Not more
than 80 per cent Of these deposits may
be withdrawn by the government a.
any one time for investment IN bonus
Of the United States the remaintnG
S5 per cent to remain on deposit in the
banks.
Tho banks are required to give as
security for the deposits they receive
public bonds or other securities sup
ported by the taxing power" which re-
stricts such securities to some form Of
national, state, municipal or othe,
such bonds approved by the board o.
trustees in charge Of the postal saw
ings banks.
The bill passed by the house as
substitute for the senate bill differs
from the senate measure In many par
ticulars, chiefly in respect to the ma
| ture Of securities that NAV. be gfver
! y banks for the deposits Of posta
savings funds received by them. II
addition to government. state anf
municipal bonds various other classes
of securities such as mortgages etc.
may be received
Agree on Sunday Civil Bill.
Insurgent senators practicall,
reached an agreement today to sup
port the house provision to the sundr!
civil bill, making an appropriation fo'
the expenses Of the tariff board.
The general deficiency BILL carrying
s5,735,573, was reported OF the hous'
4 to-day. This is a reduction of $2,1SS,