The Churchill county standard. (Fallon, Nev.) 1908-1920, 1911-10-04
NEVADA, WEDNESDAY. OCTOBER 4, 1911
FAllOk TO HAVE POSTAL BANK
VIII Open On The 18th Of
This Month, And Invites
Opening OF Tin Cans.


postofiice will be added to on October
18th by postal savings bank depart
ment This notification is said to have
been given Mrs. c. B. Ferguson, the
local charge d affairs by the depart
ment some days back. The postal
savings banks as now conducted by the
government are broadly different from
the original plans of those who first
promoted the idea. For instance, no
one depositor can place more than
$4,000 in postal savings bank in
any month, nor can his credit exceed
S5OO.00, all told. No employe is al
lowed to peach" off any account and
married woman can have money that
must remain undisturbed by hubby.
But 65 per cent of the money deposited
can be transferred to a local bank,
the remainder being required in Wash
ington, d. c., as a reserve.
The instructions received by the To-
cal postmistress are quite lengthy.
She will not be given any additional
help for the present, it is said, though
the department should grant her more
help, for the office and its re-
quirements are rapidly growing and
the installation of the savings bank
will add much detail to her daily work.
According to instructions, no charge is
to be made for opening and closing ac-
counts and for every deposit made a
certificate is given. These are not
transferable. Savings cards are issued
to those who wish to save small sums
until 81 or more is accumulated. Ad-
hesive stamps, worth 10 cents each,
are sold to be stuck on these cards?
The rules for the greater part fol-
low the form adopted by most savings
banks.
The only limit to the number of post
Offices which are now being daily desig-
mated for the receipt Of postal savings
is the capacity of the clerical force of
the Postal Savings Bureau to get out
the necessary papers. And this is also
the case with respect to the designa-
tion of postal savings depository banks.
Up to this time nearly 1000 Offices have
been designated, of which nearly 1900
are of the second class and 200 of the
first class. At the present rate, the
entire list of Offices of these two class
es will be exhausted within the next
week or two. The clerks are working
overtime and the immense amount of
detail involved is being handled with
efficiency and expedition.
No recent reports have been received
as TO the exsct amount of money that
is being taken in at these postoffices,
but brief statements have reached the
department from time to time showing
conclusively that the deposits are large
and rapidly increasing both in total
amount and in the amount of individual
deposits. Word has come from New
York, Chicago, Boston and st. Louis,
the four frst-clsss offices which were
originally designated, to the effect that
in less than 20 days after the offices
were ready for business, over $3.50, 600
had been taken in. Bankers every
where are rapidly sending in applica-
tions to be designated as repositories,
together with verified copy of their
last report to the Controller of the Cur
rency in the case of National banks and
to state officials in the case of state
banks and trust companies. Over Sl4,-
900, 900 in bonds have so far been ac-
cepted by the authorities as security
for postal savings, and bonds are now
coming in at an increasing rate. Fully
one half of the entire amount of bonds
received have been other than National
or state bonds, being confined largely
to municipal and county bonds including
water and road improvement issues.
The department will now take up
InlrQ-cIaSS UllCSS, VI Wuicn tuSiS al =
5643 in the country, and these will be
designated as rapidly as circumstances
will permit. This large list will prob
ably not be exhausted for several
months, but, when completed, atten-
tion will be given to the designation
of fourth-class offices. There are
many obstacles, however, in the way
of making a large number of this
class, owing to the absence of banking
facilities in places where they are To-
Gated, but it is probable that before
long patrons of fourth-class offices will
be given the privilege of depositing
their savings in the nearest offices of
the first three classes. The plan, how
ever, has not yet been worked out, but
it is the purpose of the Postmaster~Gen-
eral ultimately to bring the system
within the reach of every man, wo an
and child in the country, so far as it is
practicable to do so.
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