The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-11-03
POSTAL DEPOSITS
GROW STEADILY
Reports Show That Uncle Sans
New Banks Are Proving
Popular.

Washington. November 2.-Figures
received from postmasters throughout
the United States showing the status
of lac postal savings bank business
inicate that the local institution Is
w"I up among the leaders. The
figures for Washington are by no
ineants startling. but they compare
well with figures from cities larger
than this. The first months opera
tons here show 6l6 accounts opened
s:i,6S2 received. in addition to $500
representing sums too small to en-
title the depositors to open accounts
is the regular way; only twenty-four
persons closed accounts and the
amount withdrawn was 1880.
Compared to washingtons clio ac-
counts and s2i.6s2 of deposits is
Cleveland. with a population OF $50. 600.
ose postal savings bank shows l.uos
accounts and s3S,6oG deposited. Figures
from cities of Washington's size have
not been received a, the Post. Once
department. However. milwaukee,,
'.th 10000 more population than this
city. has G6T accounts and s2S,565
minneapolis. with 30l.o0o. has $50 ac-
counts and S23.3iS. while Jersey City,
with 26'.OUu population. showed but
II ETY. accounts and s2.6ii in deposits
IN Baltimore business was begun
3nspterloer 80. ana up TO October &c but
800 accounts had beer opened and
$4,000 IN deposits received
m 40 Campaign for Accounts.
~. 80 nus La ~ was explained at the de-
partment. II has been possible to give
attention only TO the inauguration Of
tne postal savings system, and but
ltue has been done in the way of
missionary work In placing its advan-
tages before the people, eSccnt hy the
pos tmasterS themselves in 4 limited
way, and by some school officials ana
pTiFat: individuals. In one of the cities
I1au.nS s.nker, who SAID he had Bit
tcrly fouGat the idea of the postal
savings system from the outset is
SO impressed with It's advantages now
that out or mis- own pocket he bought
postaI savings carus and distrib uted
.hc!h 10 uAc school children in his city
10 encourage them in saving and de-
posltinH their money IL the savings
Geposttory
:, In II many places the postmasters have
addressed the school children OF their
cities, and as result a great many
new accounts were opened. In other
Places the school teachers and ON
80" !VoN tnt matter up OF their
own voliuon with excellent results. one
postmaster who wrote very discour-
asinEly two months ago Is now a most
enthusiastic advocate of the system,
the business of his depository having
jumped from practically nothing to
one that a small bank, he says, need
no. DC ashamed of. simply beca use he
actively pushed out after it,
Circulars In Nine LunEunpcs
The department has had transla-
.iohs made of It's popular circular for
the Information of the public into nine
Iahe ua ses-ltalian. Greek. Spanish.
french; Polish, Hungarian CMagyarI'
sweuisH. German and Danish-Norwe
gan, but when il was on tho eve ~
ordering substantial number for shin.
ment II was found that there were
discrepancies i'm the translation Of
some, ana Postmaster General Hitch
COCK is not going to take chances on
having the foreign element misin
II is believed when these c,rcu,,-s
md their way to the foreign elemcnt
IN various cities there will be a very
substantial increase in the number or
accounts opened and the amount NJ
money deposited.
Postma ster-General Hitchcock has
a az h that the minimum amour /;
OF bonds which will be accepted as Sc
Surity from banks qualifying To receive
deposits OF postal savings funds at
third class post-offlces had been re-
dnced TO $1,000 Heretofore applicant
nanki have been required to make an
initial deposit Of securities to the
the understanding that the banks will
deposit additional securities us the
postal savings funds Increase More
tnan 1000 banks have already been
approved as repositories