Evening star. [volume] (Washington, D.C.) 1854-1972, 1911-11-02
THIS CITY IN LEAD
Postal Savings Accounts Here
Well Above Average.
SHOWING THE FIRST MONTH
Number of Accounts Opened Is GIG,
With $24,6S2 in Cash
Deposited.

Figures received from poStma sters
| throughout the United States showing the
status of the postal savings bank bust
| ness indicate that the local institution
| is Well up among the leaders The figures
| for Washington are by no means star
| ting. but they compare we'll with figures
/ from cities larger than this. The first
| months operations here show GIG
| counts opened. s24.6S2 received. in add
| ton to sS61o representing sums too small
to entitle the depositors to open accounts
| In the regular way: only twenty-four per-
sons closed accounts and the amount with
| drawn was $3.50
Compared TO Washingtons GIG accounts
and $24,6s2 of deposits is Cleveland. with
population of $4,000. whose postal
savings bank shows ZOOS accounts and
$&i606 deposited Figures from cities of
Washington's size have not been received
at the Post Office Department. However.
Milwaukee, with 10000 more population
than this city, has 667 accounts and
$2e.56s5 Minneapolis. with 301 900, has $50
| accounts and $23.34S. while Jersey City,
| with coo population. showed but ninety
accounts and S2,644 in deposits.
In Baltimore business was begun Sep
! TENDER so. and up to October ~ but $50
accounts had been opened and $3.50 in
deposits received.
No Campaign for Accounts.
! Thus far, it was explained at the de-
| partment. it has been possible to give at
tention only to the inauguration of the
| postal savings system, and but little has
been done in the way of missionary
| work in placing its advantages before the
| people. except by the postmasters them
/ selves, in a limited way. and by some
school officials and private individuals. In
| one of the cities Il leading banker, who
| said he had bitterly fought the idea of the
| postal savings system from the outset, is
| so impressed with its advantages now
| that out of his own pocket he bought
| postal savings cards and distributed them
to the school children in his city to en-
| courage them in saving and depositing
| their money in the savings depository.
! In many places the postmaSterS have
addressed the school children of their
| cities, and as result great many new
accounts were opened. In other places
the school teachers and officials took the
matter up of their own volition with eX-
! cellent results. One postmaster who
wrote very discOurag ngly two months
| ago Is now most enthusiastic advocate
of the system. the business OF his de-
| poSitory having jnmped from practically
! nothing to one that a small bank he
| says. need not be ashamed of, simply be-
cause he actively pushed out after it.
Circulars in Nine Languages.
The department has had transations
made of its popular circular for the IN
| formation of the public into nine Ian
guages, Italian. Greek, Spanish, French,
Polish, Hungarian GMagyar). Swedish.
German and Danish Norwegian. but when
ii was on the eve of ordering substantial
number for shipment it was found that
there We're discrepancies in the trans
lation of some, and Postmaster Genera!
Hitchcock is not going to take chances
on having the foreign element misin-
formed.
1t is believed when these circulars find
their way to the foreign element in
various cities there will be a very sub
stantial increase in the number of ac-
counts opened and the amount of money
deposited.
Postmaster General Hitchcock has an
| nounced that the minimum amount of
bonds which will he accepted as security
from banks qualifying to receive de-
posts of postal savings funds at third
class post offices had been reduced 10
$1,000. Heretofore applicant banks have
been required to make an initial deposit
of securities to the amount of $1,000.
This is done with the understanding that
the banks will deposit additional Sc
curities the postal savings funds in
! crease More than 1890 banks have al
! ready been approved as repositories.