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Show POSTAL BF LIS ! BEFORE SENATE Washinrton, Jan. 27. The Poftal Savings bank bill drafted by Senators Carter, Dolllver and Owen, a Bub-eom-mittee of the committee on postofilces, and post roads, was perfected today and was Introduced In the senate by Mr. Carter. U was referred to the poetofllce committee and probably will be re-portfd re-portfd back to the senate tomorrow. Tho bill provides that a system of postal savings depositories under the supervision of a board of trustees to conslat of the secretary of the treasury, treas-ury, the postmaster general and the attorney general shall be established This board Is authorized to make, all regulations governing custody of moneys deposited with the postal savings sav-ings banks. All postoffices of a class authorized to Issue money orders, and such others oth-ers as the postmaster general may designate, are declared to be postal savings depositories. They arc to receive re-ceive deposits from the public and are to be kept open for the tiansactlon of business In the usual postoffice business hours of the town or locality whre ihey are located. Accounts may be opened by any person ten years old or more any by married women In their own names and Iree from interference by their husbands. No person is to be permitted per-mitted to have more than one account. ac-count. An account cannot be opened for les than ono dollar and not more tha $100 can he deposited in any one month. All deposits must be In multiples of one dollar, but that smaller smal-ler amounts may be accumulated for deposits, savings cards will be Issued and ten cent postal savings stamps sold. When these cards and attached tamps show an investment of $1 or multiples thereof, they will bo received receiv-ed as deposits. Deposits In postal savings banks will draw two per cent Interest cred Ited to the books of the depositors once a year. No person will be allowed al-lowed to have a balance In excess of $500 exclusive of accumulated Interest. Inter-est. Funds received by postal savings banks are to be deposited lu banks, subject to public supervision, and as nearly as prac ticable In the neighborhood neighbor-hood In which the funds are received. The banks are to pay for the fund not less than 2Vi per cent Interest The deposits are to be distributed among local banks on the basis of their capital and surplus and the banks may plve Indemnity bonds to Insure the safety and prompt payment pay-ment of deposits. At Us option any hank may deposit collateral security subject tn the approval of the board. In event banks refuse to receive postal pos-tal deposits on the terms prescribt.-d the funds may be deposited with the treasury of the United States. Provision is made for the maintenance mainten-ance of a reserve fund not exceeding ten per cent of the total funds li--poslted Interest and profits accruing from deposits or Investment of postal savings are to he applied to the pay-incnt pay-incnt of expenses of administration and any excess is to be a part of pott-1 nl revenues. . i |