Evening journal., 1911-08-09
System is Explained in Order
From Post offiCe De-
partment
OPEN BANK HERE
ON SEPTEMBER |

Der I. Postmaster Jester is sending out
Government literature explaining the
system. One of these pamphlets fol-
lows:
The Postal Savings System is estab-
iished for the purpose of providing
facilities for depositing savings at in
terest with the security Of the United
States Government for repayment.
The faith of the United States is
soiemnly pledged to the payment OF
deposits made in postal savings de-
pository offices with accrued interest
as provided by the postal-savings act.
Accounts may be opened and de-
posits made by any person OF the age
OF 10 years or over in his or her own
name and by a marrisd woman in her
own name and free from any inter
ference OF control by her husband No
person can have more than one ac-
count at any one tima.
No person may open a postal-saving5
account az any post office who is not
a patron OF that office.
All accounts must be opened in per-
son by the depositor or his authorized
representative. After opening an ac-
count a depositor may forward sub
sequent deposits 10 the post office by
mail
Deposits will be accepted only from
individuals. and no account will be
opened in the name OF any corporation,
association. society, firm, OF partner
ship. or in the names OF two or more
persons jointly.
No account will be opened in the
name of one person in trust for or on
behalf Of another person or persons.
service Free.
The service Of the 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.
No person connected with the Post
office Department or the postal SER
vice is permitted TO disclose the name
Of any depositor OF give any informa
tion concerning an account except to
the deposition himself, unless directed
to do so by the Postmaster General.
When a person applies to open an
account he must furnish ths necessary |
information for the postmaster or his
representative to I'LL out an applica- |
tion, which he will then be required to
sign. If the applicant signs by mark
his signature must be witnessed by
disinterested person.
Deposits are evidenced by postal
savings certificates issued In fixed de-
nominations of 81. 81, SIS, $40, $40, $50
&d S100, each bearing the name OF the
q 1oopositor, the number of his account,
fie date of issue, the name of the de-
. vlsitory office, and the date on which
5 q lterest begins. The postmaster OF his
r representative will rdake out a dupli-
isette of each certificate issued, which
the depositor Will be required to sign
and which the postmaster will retain
in his records.
No account may be opened for less
than 81, nor will fractions of a dol
lar be accounted for deposit
No person is permitted to deposit
more than 500 in any one calendar
month nor to have total balance
to his credit at one time of more than
$500 exclusive of accumulated inter-
est.
Savings certificates can not be
transferred or negotiated and Will be
payable only to the person to whom
issued
On opening an account a depositor
is supplied with an envelope in which
he may keep his savings certificates
On this envelope is printed informa-
tion for his guidance and also a blank
ledger record on which to keep an ac-
count of his deposits and Withdrawals
In case a savings certificate is lost
or destroyed the deposition should no
tify the postmaster. If deemed proper
a new certificate will be issued upon
compliance by the deposltor with the
necessary requirements.
Postmasters are not permitted TO re-
ceive 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 and adhesive 10
cent postal-sayings stamps. Each
pcstal-savings card contains blank
spaces to which savings stamps may
be affixed from time to time as pur-
chased, and postal-savings card Will
nine 10-cent savings stamps thus az.
fixed will be accepted as a deposit ol
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 received in
exchange for postage stamps nor will
postage stamps be accepted in ex-
change for postal-savings cards oI
stamps.
Interest will be allowed on all de
posits at the rate of per cent. pei
annum, computed on each savings
certificate separately, and payable an.
nually. No interest will be paid or
money which remains on deposit foi
a fraction OF a year only.
Deposits will bear interest from
the lst day of the month next follow.
ing that in which deposited
Interest will continue to accrue or
a savings certificate as long as IL re-
mains outstanding, certificates bein,
valid until paid. without limitation al
TO time.
Compound interest is not allowed OF
an outstanding certificate, but a de
positor may withdraw interest paya
BILE and include il In new deposit
which will bear interest at the regu
lar rate.
A depositor may at any time with
draw the whole or any part Of hi
deposits TO his credit with any interes
payable by surrendering savings Ger
tihcates, properly Endorsed for tn
amount desired.
A depositor presenting a certiicat
for payment in full with all interes
payable must indorse il on the bac
IN the presence Of the noStn,aster n