The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-12-31
READY TO START
POSTAL SAVINGS
System Will BE Inauguratcd
Throughout Country OH
January 8.
RULES ARE FORMULATED
Mr. Hitchcock Believes Any One
Can Understand Simple
Regulation.
Especial to The Times Dispatcli. /

tt'BtNIdl 10 TIC
Washington, December 31.-Postinas-
ter-Gcneral Hitchcock to-day an
nounced the following complete regu-
lations that will accompany the open
ing Of the governments postal savings
bank all over the United States on
January 3. Mr.. Hitchcock believes
these rules to be so simple that any
ono may understand them.
Limit OF DcrOsttors.
Under the terms Of the act deposits
may be made by any person OF the age
of ten years or over, and by a married
woman Deposits may be made by
children Of the proper age in their
own name free from any control or
interference by parents, and the same
is equally true in the case Of a married
woman, whose account shall be free
from any control or interference by
her husband.
The law expressly forbids any person
from having more than one account IN
his or her own right, and any violation
of the spirit OF this provision will sub
ject the offender or transgressor to
penalty.
Corporations, societies, Etc.
Only the accounts OF individuals Will
be accepted by postmaster. Corpora
tons societies and the like will not be
lions are mandatory and require the
signature of tile individual to be left
with the postmaster at the time the
deposit lis made, as well as on Its with
drawal.
Certificates OF Deposit.
Certificates OF deposit will be issued
in various denominations running
from 81 to 500 They will be issued
in duplicate. the original going to the
depositor and the duplicate to the files
of the depository The duplicate must
bear the name of the dcpositor, who
is expected to carefully scrutinize it
before signing to see that it is drawn
for the proper amount.
Limitation ms to Deposits.
At least 81 or larger amount in
multiplcs thereof. must be deposited
before an account can be opened, but
no one will be permitted to deposit
more than 500 in any one calendar
month. The balance 10 the credit OF
any one person shall never be allowed
to exceed $500. exclusive of the accu-
mulated interest.
In order that the smaller amounts
may be accumulated for deposit any
person may purchase for 10 cents from
any depository office a postal savings
card, to which may be attached spe-
cially prepared adhesive stamps, which
have been especially designed for the
purpose and are known as postal
savings stamps" and when the stamps
so attached amount to 81. including
the l0-cent postal savings card, the
same may be presented as a deposit for
opening an account. This permission
has been granted to encourage thrift
among the poor and to teach the school
IL
Withdrawals.
When a depositor wishes to With
draw any part of his account he must
present certificates equal to the sum
he wishes to obtain, and the surrender
certificates must have been Endorsed
On the back and the signature must
correspond with that on the filed dupli-
cate before the money Will be paid.
Certificates are non -negotfable and
non transferable and are worthless in
The possession of any other than their
awful owner.
Partial Withdrawals.
While it is hoped that depositors
NTH the postal savings system will be-
long to the savings class who desire to
leave. their money for long periods for
interest purposes provision has been
made to accommodate those who wish
to withdraw a portion of their account
so that interest will be lost only on the
amount Withdrawn. AS an Illustration,
depositor with 500 certificate issued
on January 1. who wishes to draw
down $50 on July 1. will surrender his
500 certificate and receive in return $50
cash and new certificate for $50
antedated to show that it had been
drawing interest from January /.
Interest.
Interest at the rate of per cent. per
annum will be allowed on all deposits,
but interest only begins to run from
the first business day of the month SO
that the deposits made after such time
IN any month cannot begin to draw
Interest till the first day of the next
succeeding month.
In order that the most simple-mind-
ed may clearly understand the amount
of interest due them at the end of one
year or a given number of years u
table has been printed on the back OF
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