OCR Text |
Show PLANS POSTAL BANK MEASURE INTR00UCE0 IN THE SENATE FOR POSTAL SAVINGS SAV-INGS DEPOSITORIES. All First Class Postofflcee le Receive Deposits From the Public In Any Sum From One Dollar Up. Washington - The iKistnl savings hank hill, drafted hy Henainrs Carter, Hnlllver and Owen, a stih rnnimlttee of the enmmlttee on postottlces and I tost rnsds, waa jwrfected nn Thursday Thurs-day and waa Introduced In the senate hy Mr. farter. The hill provides that a ayalem of postal aavlnga depositories, under Ihe supervision of a board nf trustees, to ronstst of the secretary of Ihe treaa-ury. treaa-ury. the postmaster general and Ihe attorney general, shall he established. This board la iithnrlied tn innke all regulations governing custody of moneys deioslted with the postnl savings sav-ings banks. All poainfflres nf class authorized lo Issue money orders, and such others aa Ihe postmaster general may dealgnate, are declared to be (Kistal savings depositories. They are to receive re-ceive deposits from the public and are to be kept opeo for the transaction of business In the usual mstofflce business busi-ness hours nf the town or locality where they are located. Aeeounta may he opened hy any per-aon per-aon 10 years nld or more, and by married mar-ried women In their own tiatnea and free from Interference b) their hua-hnnda. hua-hnnda. No eraon will he permitted to have more than one account An acrnunt rannot be opened fot-less fot-less than $1 and not more than lino ran be deiiostted In any one month. Deposits In postal savlnga hanks will draw i per rent Interest, credited lo the books of depositors once a year. No person will be allowed tn have a balnnce In ecess of ."i0n, exclusive ex-clusive of accumulated Interest. t'unda received hy postal savlnga hanks are to be deposited In banks, subject to public supervision, and, aa nearly aa practicable, In Ihe neighborhood neighbor-hood In whlrh Ihe funds are received. The hanks are tn pay for the funds not less than ZVt per cent Interest Provision Is made mr the maintenance mainten-ance of a reserve fund not eiceedlng 10 per rent of the total funds deposited. de-posited. Interest and profits accruing from deposits or Investment of postal snvlngs are lo be applied tn the payment pay-ment nf expenses of admlnlstrntlon, and any excess Is to be a part ot poa-. poa-. ml revenues. |