Rocky Ford enterprise., 1911-06-30
POSTAL SAVINGS
BANK DEPOSITORY
In Connection with Rocky
Ford Postoffice
WILL OPEN FOR
BUSINESS JULY IS

OOSiNISS S0Iu ~
People VIII Then Have Opportunity
OF Deposltlng Savings At Inter.
est with UncleSam IS Security
On Friday morning last Postmaster
Lance received official notice from the
Postal Department that Rocky Ford had
been selected as q postal savings deposit
tory and to prepare and equip this Office
to receive deposits beginning with Sat-
urday. July s.
The establishment Of the postal savings
system here has been expected and Mr..
Lance has been posting himself upon the
additional duties required Of himself and
his subordinates, so that he is confident
that Uncle Sans Bank" will be fully
prepared for business on the opening day.
but he is expecting an examination upon
the red tape" that must necessarily be
unraveled before the bank 10 started.
As Enterprise readers arc no doubt
aware. the postal savings system is ss-
tablished for the purpose Of providing
facilities for depositing savings at interest
with the security Of the United States
government for repayment. but they are
not familiar with the methods Of deposit.
and We herewith append some informa-
ton for the guidance Of thoss who con-
template becoming depositors:
Accounts may be opened and deposits
made by any person OF the age OF 10
wears or over in his or her own name.
and by q married woman in her own
name and free from any interference or
control of her husband. No person can
have more than one account at any one
time.
No person may opsn . postal-savings
account at any postoffies who Is not .
patron Of that Office.
All accounts must be opened In person
by the dspositor or his authorized repre-
sentative. After opening an account
dspositor may forward subsequent de-
posits to the postoffies by mail.
Deposits will be accepted only from
individuals. and no account will bs
opened in the name Of any corporation.
association. society. firm, or partnership.
or in the names Of two or more persons
iointly.
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 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.
When a person applies to open an ae-
count he must furnish the necessary in
formation for the postms stsr or his rep
resenta,ive to fill out an application.
which he will then be required to sign.
II the applicant signs by mark his sigma
ture must be witnessed by disintsrest-
cd person.
Deposits are evidenced by postal-sav-
ings certificates issued in fixed denomi-
nations Of 81. 50. IS. $40. 500. $50 and
Sloo, each bearing the name Of the de-
positor. the number Of his account, the
date Of issue. the name Of the depository
Office and the date on which interest begins.
The postmaster or his representative will
make out a duplicate Of each certificate
!. issued, which the depositor will bs re-
: auired to sign and which the postmaster
will retain in his records.
No account may be opened for less
than 81. nor will fractions Of dollar be
accepted for deposit.
No person is permitted to deposit more
than $500 in any one calendar month
nor to have a total balance to his credit
at one time Of more than $500 exclusive
Of accumulated interest
Savings certificates can not be trans
ferred or negotiated and will be payable
only to the person to whom issued.
Interest will be allowed on all deposits
at the rate Of 2 per cent per annum.
computed on each savings certificate
separately. and payable annually. No
interest will be paid on money which re-
mains on deposit for fraction Of a year
only.
Deposits will bear interest from the
that in which deposited.
Interest will continue to accrue on
savings certificate as long as it remains
outstanding. certificates being valid Until
paid. without limitation as to time.
Compound interest is not allowed on
an outstanding certificate, but depositor
may withdraw interest payable and in
clude it in a new deposit, which will bear
interest at the regular rate.
A depositor may at any time withdraw
the whole or any part Of his deposits to
his credit with any interest payable by
surrendering savings certificates. prop
erly indorsed. for the amount desired.
4 depositor presenting a certificate for
payment in full with all interest payable
in full must indorse it on the back in the
A,resenee Of the postmaster or his repre-
sentative and surrender it. Tho post
master or his representative, IL satisfied