Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-09-04
POSTAL SAVINGS
BANK DESIGNATED
FOR EAST ORANGE
c. w. Haberle, Assistant POST
master, Probably Will Have
Charge of Department.

Postmaster Marcus Mitchell, of East
Orange, has been notified officially that
East Orange is to have a postal saw
ings department, to be opened the lat
ter part of this month. Charles w,
Haberle, the assistant postmaster, Will
IL is expected, have charge of the pos
tai savings department, which Will be
carried on at the registry window
POSTAL savings department mas
been started in South Orange, and one
will shortly be put in operation IN the
Orange postoffice, according 10 POST
master John A. Alderman, who, while
not notified officially, states that the
receipts from the money order depart
ment warrant the establishment OF a
postal savings department
Deposits will be received etwee >
o'clock in the morning n > O'Clock III
the afternoon.
Postal savings cards and postal saw
ines stamps will be OF sale at the re-
tail stamp windows
Before making a deposit oil postal
savings cards the holder must have al
fixed nine stamps to a card which mas
previously been impressed with a
stamp before being sold to the puf-
chaser. These postal savings cards viii
be redeemed only by the issue of saw
ines certificates, and are not valid for
postage.
Deposits will be. received in the form
either of postal savings cards properly
completed to the amount of one dollar
zach. or in cash not to exceed 500 dur
ing any one month, or to "a total not
exceeding $500 for any one account.
Interest on deposits is payable at the
rate of . per cent, a year, computed ON
each savings certificate separately. NO
interest will be paid on deposits which
are withdrawn within n year from
the date of deposit. Interest will be
computed from the arst day of the
month next following the date of de-
posit. There is no limit as TO the
length of time money may remain on
deposit and draw interest. Compound
interest is not allowed on an outstand-
ing certificate, but a depositor may
collect interest and include it In a new
deposit. Depositors may withdraw
their money at any time by the sur
render of their certificates properly In
dorsed.
Accounts may be opened by all per-
sons over 10 years of age in their W
name, including married women, and
be free from interference or control by
husband or others.
No person can have more than
account at one time. Accounts must
be opened in person by the depositor
or his or her authorized representa-
tive.
Deposits win be accepted from indi-
viduals only, and accounts Will not be
opened in the name of any corporation,
association. society, firm or partner
ship, nor in the name of two or more
persons Jointly. NOR in the name of
person In trust for another.
The service of the postal savings sys-
tenn is free and no fees are charged on
any account. Depositors may exchange
the whole or any part of their savings
certificates in sums of $50, $40, $50, $50
or 800 or multlples of 800 up to $500
for United States registered bonds
bearing interest at the rate of ~ pei
cent, payable s~emi-annually, redeem
able at the pleasure of the United
States after one year from the date of
issue. both principal and interest pay
able twenty years from such date In
United States gold coin. Such eN-
changes may be made under date of
January | and July l of each year.