The Colville examiner. [volume] (Colville, Wash.) 1907-1948, 1911-07-08

r. Parks will be temporary banker.
When Harold M. Dexter returns from
the east he will be placed in charge
of the postal savings department.
Mr.. Dexter is careful and exp1-
rienced young man. Postmaster
Parks is of the opinion that the postal
savings bank will be of great benefit
to the community, as it will be the
means of drawing from hiding places
many thousands of dollars that will
sooner or later get into circulation.
Without exception the bankers of Col
vile are in favor of the postal saw
ings bank.
The following information regard
ing the workings of the new bank
will be of interest, as the movement
is backed by the United States gov
ernment, and depositors are absolute
ly without chance of loss and receive
per cent interest on deposits:
The postal Savings System Is es-
tablished for the purpose Of providing
facilities for depositing savings at
interest with the security of the
United States government for repay
ment.
The faith of the United States is
solemnly pledged to the payment of
deposits made in postal savings de-
pository Offices with accrued interest
as provided by the postal savings act
Accounts may be opened and de-
posits made by any person of the age
of 10 years or over in his or her
own name and by married woman
in her own name and free from inter-
ference or control by her husband.
No person can have more than one
account at any one time.
No person may open postal-sav-
ing account at any postoffice who is
not patron of that Office.
All accounts must be opened in
person by the depositor or his author
ized representative. After opening an
account depositor may forward SUBJ
sequent deposits to the postoffice by
mail.
Deposits will be accepted only
from individuals, and no account will
opened in the name of any corpora
tion, association, society, firm or part
nership, or in the names of two or
more persons jointly.
No account will be opened in the
name of one, person in trust for or on
behalf of another person or persons
The service of the Postal Savings
System is free, and no charge or fee
is collected or required in connection
with the opening of an account or
the withdrawal of money deposited.
No person connected with the post
office department or the postal SER
vice is permitted to disclose the name
of any depositOr or give any infOrma-
tion concerning an account except to
the depositor himself, unless directed
to do so by the Postmaster General.
When person applies to open an
account he must furnish the necessary
information for the postmaster or his
representative to fill out an applica-
ton, which he will be then required
to sign. If the applicant signs by
mark his signature must be witnessed
by disinterested person.
Deposits are evidenced by postal
savings certificates issued in fixed
denominations of 81, 80, IS, SO, $40,
$50 and 500, each bearing the name
of the depositor, the number of his
account, the date of issue, the name
of the depository Office, and the date
on which interest begins. The post
master or his representative will
make out duplicate Of each certifi-
cate issued, which the depositor will
be required to sign and which the
postmaster will retain in his rec
ords.
No account may be opened for less
than 81, nor will fractions of a
dollar be accepted for deposit.
No person is permitted to deposit
more than 500 in any one calendar
month nor to aave total balance
to his credit at one time of more than
$500 exclusive of accrued interest.
Savings certificates can not be
transferred or negotiated and will be
payable only to the person to whom
issued.
On opening an account depositor
is supplied with an envelope in which
he may keep his savings certificates.
On this envelope is printed informa-
tion for his guidance, and also a
blank ledger record on which to keep
an account of his deposits and with
drawals.
In case savings certificate is lost
or destroyed the depositor should no.
tify the postmaster. II deemed
proper, a new certificate will be is
sued upon compliance by the depos-
itor with the necessary requirements.
Postmasters are not permitted to
receive savings certificates for safe
keeping.
Amounts less than 81 may lie saved
for deposit by the purchase Of 10-cent
postal savings cards and adhesive
10-cent postal savings stamps. Each
postal savings card contains blank
spaces to which savings stamps may
be affixed from time to time as pur-
chased, and a postal savings card
with nine 10-cent savings stamps
thus affixed will be accepted as de-
posit of 81 either in opening an ac-
count or in adding to an existing ac-
count.
Savings cards and stamps will be
redeemed only by the issue of saw
ings certificates and are not valid for
postage. They will not be received
in exchange for postage stamps nor
will postage stamps be accepted in
exchange for postal savings cards or
stamps.
Interest will be allowed on all de-
posits at the rate Of per cent per
annum. computed on each savings
certificate separately, and payable
annually. No interest will be paid