The Democratic banner. (Mt. Vernon, Ohio) 1898-192?, 1911-07-04
INTERESTING FACTS ABOUT
POSTAL SAVINGS BANKS

valid until paid, without limitation as
to time.
Compound interest is not allowed
on an outstanding certificate but a |
depositor may withdraw interest pay
able and include II in a new deposit,
which will bear interest at the regular
rate.
depositor may at any time with |
draw the whole or any part of his de- |
posits to his credit with any interest
payable by surrendering savings GER
tificates, properly indorsed, for the |
amount desired
A depositor presenting a certificate
for payment In full with all interest |
payable must indorse 1t on the back |
In the presence of the postmaster or
his representative and surrender #.
The postmaster or his representative,
IL satisfied as to the depositors iden-
tity, will then make payment.
When depositor desires to with.
draw only portion of the amount
called for by his certificate the post
master will cancel the certificate and
issue a new certificate covering the
amount to be left on deposit The new
certificate will be so dated that the de-
positor will not lose interest on the
amount remaining continuously on de-
posit. d't"ta =" 2oai
When the depositor desires to with
draw merely the interest payable on
any certificate, instead of endorsing
and surrendering the certificate as
in the case of full payment, he will
be required to give his receipt in du-
plicate for the amount of interest paid.
| The postmaster will enter the inter
tificate and return it to the depositor.
When person, who has opened an
account cannot appear personally to
make an additional deposit, because
of infirmities or other good and suf-
| ficient reason, the amount to be de-
| posted may be sent by representa-
tive or forwarded by mail. On the re-
ceipt OF the amount the postmaster
will send to the depositor the dupli-
cat of each savings certificate to be
| issued. When the duplicate or dupli-
by the depositor and returned to the
depository office, the postmaster will
send them the original certificates
covering the amount of the deposit.
New accounts cannot be opened by
mail When an intending depositor
desiring to open an account is unable
to appear in person he may forward
the money by a representative, who
will be provided with an application
form, which must be properly filed
out by the intending depositor and re-
turned with the duplicate certificate
or certificates,
When under similar circumstances,
depositor cannot appear in person
to make a withdrawal, bank order
will be furnished for his use upon re-
i quest by his representative. When
such order has been properly filled in
and signed by the depositor, with his
signature witnessed by disinterest-
ed person and has been returned to
the postmaster, together with each
certificate to be paid properly endors-
ed, payment will be made to the de-
positor's representative.
When depositor who is unable to
appear in person desires to withdraw
merely the interest payable on any
certificate, the blank order furnished
will include receipts for the interest
to be paid, upon return of which,
properly signed by the depositor, the
postmaster will make payment to his
representative.
In case Oh death of a depoistor the
amount standing to his credit will
be paid to the executor or administra-
tor of his estate upon compliance with
the necessary requirements. In case
no formal administrator is desired by
his relatives, the postmaster may, If
it is deemed proper, be authorized to
pay the amount of the deposit, on ap-
plication in proper form, to the per
son entitled to receive it, without the
appointment of an administrator.
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