The Alaska citizen., 1916-03-27
SAVINGS BANK ID BE OPENED
 ON APRIL 1
POSTMASTER DEAL RECEIVES FULL INSTRUCTIONS ON
 POSTAL SAVINGS.


 Third Assistant Postmaster General A. NJ. Dockery. regarding the ostab- lishment of a postal savings bank in connection with the local post office. The letter contained instruC- tions concerning the lines along which the office will be conducted The postal savings department of the postoffice will therefore be open for business on Saturday morning. April l. at g. 8. m.
 The following are the instructions received by Mir Deal concerning the postal savings bank Further inquiry regarding details. should be made of the postmaster.
 Purpose
 The purpose of the postal savingR system Is to provide facilities for depositing savings at interest with the security of the United States government tor repayment.
 Safety.
 
 solemnly pie igpd to the payment of deposits made in postal savings depository offices, with accrued in terest. as provided by the Postal Savings act.
 Who May Deposit
 An account may be opened and | do h,y of | b,p age of ten years or over in his or her own name, and by a married woman in her own name ard free 1 from any interference or control by her husband
 No Charges tc Jepositurs. 1 No charges or fees are collected or required from depositors in con nection with the opening oi ac counts or the subsequent deposit or proper money order fee when with drawals are made by mail
 Deposits. Deposits are evidenced by postal savings certificates issued in fixed denominations of one, two, five, ten. i twenty. fifty and one hundred dol lars. These certificates bear the name of the depositor and are non l transferable and nOn-negottablc. No account will bc opened for !ess than one dollar, lor will fractions of g dollar be accepted for deposit in an i interest-bearirg account. No per son is permitted to deposit more 1 calendar month nor to havt a bal i ance to his credit at one time of more than five hundred dollars eX- elusive of accumulated interest. Al ter an account is opened deposits may be made through representa- tive or by mail.
 Savings Cards and Stamps.
 Amounts less than one dollar may 1 be saved by purchasing postal say i specially prepared adhesive ten-cent postal savings stamps. Each postal savings card contains blank spaces | to which the ten-cent savings stamps may be affixed from time to time as purchased, and a postal savings card with nine ten-cent stamps thus or will be accepted as a deposit of one dollar either in opening or add ing to an interest bearing account. interest is not allowed on saving cards or stamps.
 Interest
 Interest at the rate of two per cent per annum will be allowed on the amount represented by each postal savings certificate, payable annually Interest will not be paid for any fraction of a year. De posits will bear interest from the first day of the montt neX; follow ing that in which made. Interest will continue to accrue annually on a postal savings certificate as long as it remains outstanding, certifi cates being valid until paid, without limitation as to time. Compound interest is not allowed on an out standing certificate, but deEositor may withdraw annual interest ac crued and make a new deposit.
 Withdrawals.
 depositor may withdraw at any time the whole or any part of the funds deposited to his credit, with any interest payable, by surrender ing savings certificates properly in dorsed covering the amount of the desired withdrawal. The accrued interest alone may be withdrawn when payable upon application tc the postmaster. Withdrawal may be made through a representative or oy mail.
 Postal Savings Bonds
 A depositor may exchange the whole or any part of his deposits in sums of twenty dollars, or any multiple of twenty dollars up to and including five hundred dollars. for United States registered or coupon bonds bearing interest at the rate of two and one-halt per