Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1911-09-14
. A POSTAL BANK
ON OCTOBER A.
POSTMASTER RENEAU GIVEN
NOTIFICATION YESTERDAY.
ITS features ARE MANY
Ten Years Old and Ten Gents start
It-Ordinary Banking Methods
Not Possible.

town In the state to be given postal
bank and the institution will probably
enjoy a handsome patronage here.
The establishment Of the postal saw
ings bank here will probably necessi-
tate the addition of one or two em-
poyees to the present post office
force
The first postal savings bank In
this country was established ABOUT
six months ago, and since then they
have been handed out indiscriminately
When this department was added to
the oklahoma City post office re-
Gently persons stoid In line all night
intent upon being the first depositor
in the bank.
The features of the postal bank are
many. and will no doubt prove as pop
ular in Tulsa as elsewhere.
A postal savings account may be
started with a 10-cent piece. There
is only one other limitation; the de-
positor must he 10 years old.
The savings stamp is the most high
" illumined ever printed in this coun-
:. try. Its tone is deep chromeorange
mere is dIIOliltI SldIIlpt liiN 'AiiN''''
service 2-cents which is designed for
use in savings department correspon-
don.ce and which is smaller and more
nearly square than the regular stamp
and is printed in deep black.
when your account runs to one or
more dollars you can take your saw
ings card to the bank and got a
certificate of deposit. You must fill
out an application blank. You will
not get n deposit book such as you
would if you went to a savings bank. 1t
has been decided that the post office
has not the trained staff which would
make possible ordinary banking
methods There are other reasons,
too. against the use of the book.
The certificates come in fixed de-
nominations of 81, $2 IS, SO, $40,
and $50. With these it is possible to
transfer any amount desired. The
certificates are different in color for
each grade. They are made in dup
licate, folding together and beiis
numbered and sent out to the offices
in series Of 100 each, so that there
is a check on each one. The clerk
does not write the amount on the
certificate, but punches the numer-
ais out of the margin so that there is
no chance for mistake or false en-
tries. The certificate shows the name
and the number of the detostor.
They are not transferable.
In making the deposit you must
sign your name in the presence Of the
clerk to both the original and the
duplicate. You keep the original and
the office retains the copy. The date
Of issue will be stamped so that by a
glance at the table on the back of the
certificate you will be able to tell
just how much interest is due at any
time up to five years. This makes the
computation of interest almost auto
matte.
When you come to withdraw your
deposit, all or part only, you must in
drse, both the original which you
have and the duplicate which is I'M
the post office. This prevents forg-
cry and theft.
If you are n woman depositor you
need not be afraid your husband can
get your money. The law protects
women and children depositors, who
have exclusive right to withdraw their
deposits. You will not be permitted
to have a deposit in more than one
postal bank. You can deposit any
thing from 81 to 500 In a month,
but no more than the latter figure I'M
any one month. Your total deposit Is
limited to $500, exclusive OF interest.
All or any part of the deposit can be
withdrawn upon presentation of the
certificates. You are also entitled to
exchange these certificates inI
amounts from $40 to $500 for United
States bonds bearing 1-2 per cent
interest These bonds are in denom-
nations Of $40. $40, $50, $50, 500,
and mutiples of $500.
BY a use of these bonds you can. ifl
YOU have the money beat both the
$500 deposit limit and the per cent
interest limit.
The depositor can put In his S1O0l
n month till January 1 or July ar
ri,cs. Then he can have II placed in |
bonds. This transaction can be re-
p'tAfu lNi't YEAR VI SltuuV every
twelve months, without any llmita-
ton The bonds pay 1-2 per cent,
one-half per cent better than the bank |
deposit. They also have the advant- |
age of being a quick asset. There
seems little doubt that they can be |
disposed of at any time. and the own
er, Of course. will receive the inter-
est up to the day of transference.
whereas deposits Withdrawn from the
bank in less than year forfeit all in
terost
No fee Of any kind is charged for
opening an account.
No ACCOUNTS will be accepted from
firms. societies, etc, or by one per-
son In trust for another. No post Of
flee employe may disclose the name
Of any depositor or the amount of his