Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1912-03-21
AUDUBON TO HAVE
SAVINGS BANK

0AvWuO DAMN
Uncle Sam viii Establish One Of His
Postal Savings Banks in Audubon
TO Be Established April 9th.
Postmaster Wilson has received
word from Washington that postal
savings bank will be established at
the Audubon postoffice April 9th. In
fact the department has had repre-
sentative here to make the proper ar
rangements and to give the Office
force the proper instructions. For
the benefit of the public and the read
ers of The Republican we print few
paragraphs from the instruction
sheet sent to the postofice here. Fol-
lowing are some OF the most import
ant:
Accounts may be opened and de-
posits made by any person of the are
of ten 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
account at any one time.
No person may open a postal-say-
ings account at any post office who
Is not q patron of that Office.
All accounts must be opened In
person by the depositor or his author
lied representative. After opening an
account depositor may forward sub
sequent deposits to the post Office by
mail.
Deposits will be accepted only
from individuals, and no account win
be opened in the name of any corpor-
alton, association, society, firm or
partnership, 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
Office Department or the postal ser
vice is permitted to disclose the name
of any depositor or give any informa-
ton concerning an account except to
the depositor himself, unless directed
to do so by the Postmaster General.
No account may be opened for less
than 81, nor will fractions of dollar
be accepted 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 DO
transferred or negotiated and will Be
payable only to the person issued.
In case q savings certificate Is lost
or destroyed the depositor should mo-
tify the postmaster. II deemed prop
er. a new certificate will be issued
upon compliance by the depositor
with the necessary requirements.
Amounts less than 81 may be saved
for deposit by the purchase Of 10
cent postal-savings cards and adhe-
sive 10-cent postal-savings stamps.
Each postal-savings card contains
blank spaces to which savings stamps
may be affixed from time to time as
purchased. and postal-sayings card
with nine 10-cent savings stamps
thus affixed will. be accepted as q de-
posit of 81 either in opening an ae-
count or in adding to an existing ac-
count.
Interest will be allowed on all de-
posits at the rate or two per cent per
annum, computed on each savings
certificate separately, and payable an
nually. No interest viii be paid ON
money which remains on deposit for
a fraction of year only.
A depositor may at any time with
draw the whole or any part Of his
deposits to his credit with any inter
est payable by surrendering savings
certificates, properly Endorsed, for the
amount desired.
A depositor will be permitted to ex-
change the whole or any part of his
deposits in sums of $40, $40, $50, $50.
800, or multiples of 800 up to and
including $500, into United States reg
istered or coupon bonds bearing in
terest at the rate Of two and one-half
per cent per Sannum. payable semian-
nually. and redeemable at the pleas
ure Of the United States after one
year from date OF issue, both prinei-
pal and interest payable 20 years
from such date in United States gold
coin. Such exchange may be made
under date Of January and July q