The Washington times., 1911-11-09
E
POSTAL BANK PLAN
PROVES A SUCCESS
l.. lTUnI1T IUWV
Sub-Depositories Are Well
Patronized on Very,
First Day.

Georgetown's postal savings bank
sub b-depositories" are an unqualified
success. Two hundred people. visited
each Of the two drug stores, where
cards and stamps are on SALE after the
exclusive announcement in The Times
yesterday afternoon. that Georgetown
had the first sub-depositories of the
kind In the United states.
The Ink was hardly dry on the first
papers. when inquirers came into the
store OF DR.. Charles Scherer, at Wiscon-
sin avenue and N street, and into that
of DR.. William Scherer. at Thlrty-flfth
and o streets, either to gain informa-
ton. or to start their savings account
with Uncle Sam Until closing time
at ten O'Clock there was a steady
stream of depositors and intending de-
positors.
Acting Postmaster Robinson Is greatly
interested In the success of the move
place postal savings cards and stamps
where they are available for the people
who wish to deposit In the postal saw
ings bank. There is but little doubt
that the Washington merchants will
fall In line and take up the idea. Mr.
getting the cards and stamps out.
Thinks Idea Is Good.
In talking of the movement today he
said: THE idea is fine one. These
stamps should be available In the drug
stores, Just as are ordinary stamps. It
Is matter not only Of public conven-
Iience. but of an aid by the store
proprietor to his patrons
DR.. Scherer Is enthusiastic over the
movement, and is doing missionary
Su,rr 10 he, AaIr
cities. His efforts, already represent a
total Of so worth of dimes deposited
in the postal bank. by persons who
heretofore were not patrons.
Deposits Of any desired sum can be
made through the Georgetown sub-de-
positories. While they were opened
primarily with the idea. of aiding the
to save dime at time, other de-
positors who can not go to the city
rostcffice can purchase cards and
stamps In any quantity they wish. For
in as IS deposit.
The postal savings bank. like most
other banks. does not open an account
for less than dollar, and 1t takes Il
tificte, but each dime paid for a card or
stamp, Is just as much on deposit with
the Government, as would be hundred
dollars. Any one can take card, or
stamps, and ret their money for them
from the bank at any time.
Advantages of Plan.
Georgetown depositors, who make
their deposits through either Of the
Scherer stores. can always withdraw
their money at the store. without conf
ing down town to get 1t back. In other
worda. the Georgetown .sub-depositorles
are Just like a regular bank, except
that you dent have to be identified,
and give your signature and hob-nob
with bank officer to get your money
back when you need it. "A depositor
can withdraw any amount at any time,
by merely presenting the stamps, and
cards for the amount desired.
All dollar deposits and over. draw in.
terest from the Government at the rate
Of per cent per annum. and every
July l, and January !, depositors In the
bank, can convert their savings into
gilt. edged Government bonds. eithe.
registered or coupon, that pay 2h per
cent interest. Every holder of a regis
tered bond will get a check from the
United States Treasury July 1 and Jan
uary J., for the amount of interest due.