The Oroville weekly gazette. [volume] (Oroville, Wash.) 1905-19??, 1912-04-05
POSTAL SAVINGS SYSTEM.

At the request of the postmaster and
for the information of the patrons of
the local Office at which the postal
savings system will go into effect this
month, the circular of information is
sued by the pOstoffice department is
published in full. These circulars
are kept at the postoffice for free dis
tribution, and can be secured by any
one wishing copy:
The Postal Savings System is estab-
lished 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
sOlemly pledged to the payment of de-
posits made in postal savings deposit
tory offices with accrued interest as
provided by the postalsavings act.
Accounts may be opened and depos-
its made by any person of the age Of
10 years or over in his or her own
name and by married woman in her
own name and free from any inter-
ference or control by her husband. No
person can have more than one ac-
count at any one time.
No person may open pOstal-sav-
ings account at any post Office who is
not a patron of that Office.
All accounts must be opened in
person by the depOsitOr or his author
iZed representative After opening an
account depOsitOr may forward SUBJ
seQuent deposits to the post Office by
mail.
Deposits will be accepted only from
individuals and no account will be
opened in the name OF any corpora
ton, association, society firm or part
nership, 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.
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
vice Is permitted to disclose the name
of any depositOr or give any informa-
ton concerning an account except to
the depOsitOr himeslf. unless directed
to do so by the Postmaster General.
When a person applies to open an
account he must furnish the necessary
information for the postmaster or his
representative to fill out an applica-
tion, which he will then be required
to- siens n the npplica1t signs by
mark his signature must be witnessed
by a disinterested person.
Deposits are evidenced by postal
savings certificates issued in fixed de-
nominations of 81 81. IS. $40 $50, $50,
and 800. each bearing the name Of the
depOsitOr, the number of his account.
the date of issue. the name OF the de-
pository office, and the date on which
interest begins. The postmaster or
his representative will make out du-
picate 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 dollar
be accepted for deposit.
No person is permitted to deposit
more than 800 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 account of his deposits and with
drawals.
In case a savings certificate is lost
or destroyed the depositor should no
tify the postmaster. If deemed proper
new certificate will be issued upon
compliance by the depositor with the
necessary requirements.
POStnaSters are not permitted to
receive savings certificates for safe
keeping
Amounts less than 81 may be saved
for deposit by the purchase OF 1O-cent
postal-savings cards and adhesive 10.
cent postal-savings stamps. Each pos
tal-savings card contains blank spaces
to which savings stamps may be af-
fixed from time to time as purchased,
and a postal-savings card with nine
10-cent savings stamps thus affixed
will be accepted as deposit OF 81
either in opening an account or in add
ing to an existing account.
Savings cards and stamps will be
redeemed only by the issue of savings
certificates and are not valid for pos
tage. They will not be received in
exchange for postage stamps nor will
postage stamps be accepted in ex.
change for postal-savings cards or
stamps.
Interest will be allowed on all de-
posits at the rate OF per cent per
annum computed on each savings Ger
tificate separately, and payable an
nually. No interest will be paid on
money which remains on deposit for
a fraction of a year only.
Deposits will bear interest from the
1st day of the month next following
that in which deposited
Interest will continue to accrue on
savings certificate as long as it re.
mains outstanding, certificates being
valid until paid, without limitation as
to time.
Compound interest is not allowed on
an outstanding certificate. but de
positor may withdraw interest payable