Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-09-05
Ne WARK POSTAL
SAVINGS BANK To
OPEN ON SEPT. 10
Will Be Located in Assistant
POstmaster's Room in
Federal Building.
DEPOSITS MAY BE MADE
FROM 10 CENTS UP TO 500
$500 Is Limit, but May Be Con-
verified Into 2 ID Per
Cent. Bonds.

Postmaster James l.. Hays, having
about completed arrangements for in
stallIng the postal savings bank here
on September Is, today made an an
nouneement giving fun details for the
benefit of the public.
For the present the bank will be To-
Gated in the room Of the assistant
postmaster. adjoining the office Of the
postmaster. on the second floor of the
Federal building, and will be ope to
the public between the hours of 3 a,
M. and 5 p. m. daily-unless other
hours should be designated by the de-
partment, In which event due notice
will be given. Clerk s.. J. Higgins will
be In charge of the postal savings
work, receiving the deposits and keep
Ing the accounts of the depositors.
The system seems to be one that
should easily be understood by the
public. A person can purchase a card
and postal savings stamp for 10 cents,
and from time to time can purchase
postal savings stamps at 10 cents each,
which will be affixed TO the caro- by
tAi0 ~ Ut AtC III VI
When one of these cards is presented
with ten stamps thereon, 1t will be re-
deemed by the issuance of a certificate
OF deposit for 81. Ia no case other than
the above will sums less han 81 be
received.
$500 IL Limit of Deposit.
No ~deposltor can deposit more than
500 in any one calendar month, and at
no time can they have on deposit a
sum exceeding $500. All depositors will
be requested to sign an application
when opening an account Any per-
sons desiring to avail themselves of
the privileges of the bank must make
their first deposit In person. Suisse
Quent deposits may be made by mail.
Money forwarded to p~ostofice for de-
post by mail or by representative is
sent at risk OF depositor.
Deposits can only be made at the
main office in this city, and can only be
accepted from patrons of the main
Office, which includes Belleville, East
Newark, Harrison, 1rvington, Nutley
and that part of Kearny served by the
Newark carriers.
Deposits may be accepted from mi
nors (ten years of age and over). also
from married. women free from n in
reference sr control of their nus
bands.
Accounts Can't be transferred.
Accounts can neither be transferred
nor negotiated, only the original de-
posltors being recognized by the gov
eminent. In oase of death, the post
master has the authority to pay the
amount to the properly authorized per-
son without the appointment of an ad-
ministrator.
Postmasters are not permitted to re-
celve postal savings certificates for
safe keeping.
Deposits or a portion Of the same
can be withdrawn at any time.
Deposits win net oe accepted from
firms, corporations. lodges, societies,
nor in the names Of two persons Jointly.
Neither will an account be opened in
the name of one person on trust for
another.
A depositor will be permitted to con-
vert the whole or any port of his de-
posit, In sums Of $40, $40. $50, $50 and
800 Cor multiples of 500 up to and in
GLIDING 5000 into United States regis
tered or coupon bonds, bearing interest
Mt the rate of 21a per centum per an
num-. payable semi-annually, there be-
ing no limit to the amount of postal
savings bonds that may be acquired by
a depositor. These bonds can only ] >
procured by the conversion of postal
savings deposits, and will not be issued
to persons who are not depositors.