The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1911-09-22

Il VIII De required 10 Sigh anu WHICH
the postmaster will retain in his
records.
No account may be opened for
less than 81, nor will fractions of
a 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.
The Saving Certificates.
Savings certificates can not be
transferred or negotiated and will
be payable only to the person to
whom issued.
On opening an account deposi.
| tor is supplied with an envelope in
which he may keep his saving GER
tificates. On this envelope is print
ed information for his guidance,
and also a blank ledger record on
which to keep an account of his de-
posts and Withdrawals.
In case a savings certificate is
lost or destroyed the depositor
should notify the postmaster. If
deemed proper, a new certificate
will be issued upon compliance by
the depositor with the necessary
requirements.
Postmasters are not permitted to
receive savings certificates for safe
keeping.
Savings Cards and Stamps.
Amounts less than 81 may be
saved for deposit by the purchase
of 10-cent postal-savings cards anc
adhesive 10-cent postal-savings stamps.
Each postalsavings card contains
blank spaces to which savings
stamps may be affixed from time to
time as purchased, and a postal
savings card with nine 10-cent saw
ings stamps thus affixed will be &C
copied as deposit of 81 either in
opening an account or in adding to
an existing account.
Savings cards and stamps will be
redeemed only by the issue of saw
ings certificates and are not valid
for postage. They will not be re-
ceived in exchange for postage
stamps nor will postage stamps be
accepted in exchange for postal
savings cards or stamps.
Interest on all Deposits.
interest will be allowed on all
deposits at the rate of 2 per cent
per annum. computed on each saw
ings certificate separately. and pay
able annually. No interest will be
paid on money which remains on
deposit for a fraction of year only.
Deposits will bear interest from
the first day of the month next fol-
lowing that in which deposited.
Interest will continue to accrue
on savings certificate as long as
it remains outstanding, certificates
being valid until paid, without limi-
tation as to time.
Compound interest is not allowed
on an outstanding certificate, but
a depositor may withdraw interest
payable and include it in a new de-
post. which will bear interest at
the regular rate.
How to Withdraw.
A deposition may at any time with
draw the whole or any part of his
deposits to his credit with any in
terest payable by surrendering saw |!
ings certificates, properly Endorsed,
for the amount desired.
A deposition presenting a GER
tificate for payment in full with all |
interest payable must indorse it on |
the back in the presence of the post
master or his representative and |
surrender it. The postmaster or his
representative, if satisfied as to the |
depositor's identity, will then make
payment.
When depositor desires to with
draw only a part of the amount !
called for by any certificate the post |
master will cancel the certificate |
and issue new certificate covering
the amount to be left on deposit. |
The new certificate will be so dated
that the depositor will not lose in
terest on the amount remaining
on deposit.
When depostor desires to with
draw merely the interest payable |
on any certificate, instead of indoors
ing and surrendering the certificate
as in case of full payment, he will
be required to give his receipt in
duplicate for the amount of the in
terest paid. The postmaster will
enter the interest payment on the
back of the certificate and return
it to the deposition
Deposits Not Made in Person.
When a person who has opened
an account can not appear person
ally to make an additional deposit,
because of infirmity or for other
good and sufficient reason, the
to be deposited may be sent
by representative or forwarded
by mail. On receipt of the amount
the postmaster will send to the de-
positor the duplicate of each saw
ings certificate to be issued. When
the duplicate or duplicates thus de-
livered have been signed by the
depositor and returned to the deposi-
tory Office the DOStmaster will Sond