£200. No more than £200 Government Stock can be purchased in any one year, and the total amount of stock standing in a depositor’s ac- count at any one time must not exceed £500. The dividends or interest on any Government Stock is credited periodically to the holder’s ordinary deposit account. When a depositor wishes to withdraw the whole or any part of his money, he has to fill up and forward to the Savings Bank Department in London, a notice of withdrawal, and a form for the purpose may be obtained at any Post Office Savings Bank. He will then receive by post a warrant, on pre- sentation of which, at any branch Post Office he may have selected, payment will be made. Pay- ment by a warrant may be made to another person on behalf of the depositor, provided the latter signs a form of authority for the purpose, which form may be obtained at any Post Office Savings Bank.
A depositor of the age of sixteen and upwards may nominate any person to receive any sum (not exceeding £100) due to such depositor at his death. Every nomination must be in writing on the proper form, which may be obtained from the Controller of the Savings Bank Department, in London, to whom the nomination must be sent during the depositor’s life-time.
Where, at the time of the depositor’s death, the amount standing to his credit exceeds £100, it will be necessary, in order to obtain payment, that probate of his will, if any, or letters of administration (if he has died intestate), should be obtained in the usual manner.
Where the whole amount standing to the credit of a depositor at the time of his death, inclusive of Government Stock, does not exceed £100, in default of a nomination, or probate, or letters of administration, payment may be made:-
To any person who has paid the funeral expenses of the depositor;
To creditors of the depositor;
To the widow or widower of the depositor; To the persons entitled to the effects of the deceased according to the Statute of Distribution.
To any other person establishing, to the satisfaction of the Postmaster General, a claim in accordance with the Statutes and Regulations relating to the Post Office Savings Bank.
The salient points of the Post Office Savings Bank have been placed before the reader, but in connection with the system there is another organization, for the purpose of purchasing Government Annuities and effecting Life Insur- ance, of so varied and elaborate a character that every possible requirement seems to be provided for. The “Post Office Guide,” which is pub- lished quarterly, contains voluminous tables and explanations in respect of this organization, and full details and clear directions for the guidance of the public in regard to the Savings Bank.
The growing success which attends these several institutions is an unmistakable indica- tion of the value set upon them by the people. The prudent and thrifty have not been slow to take advantage of the benefits they offer, not the least of which are the freedom from doubt and anxiety they enjoy as to the safety of their money, and the certainty felt that, though other concerns may fall and involve their victims in ruin, here there is absolute and permanent security.
APPENDIX
TABLE OF INTEREST ON INVESTMENTS.
Showing how the rate of interest actually received varies according to the amount paid for the Stock.
_Example._ — If a purchaser gives £88 for £100 6% stock, he will find that the rate of interest on the sum invested is £6 16s. 6d., being the amount in the column headed 6%, opposite to 88 in the first column.
———————————————————————- |Price| | | | | | | | | per | 3 | 4 | 4 1/2 | 5 | 5 1/2 | 6 | 7 | |£100.| pr. ct.| pr. ct.| pr. ct.| pr. ct.| pr. ct.| pr. ct.| pr. ct.| |—–|——–|——–|——–|——–|——–|——–|——–| | £ | £ s. d.| £ s. d.| £ s. d.| £ s. d.| £ s. d.| £ s. d.| £ s. d.| | 125 | 2 8 0| 3 4 0| 3 12 0| 4 0 0| 4 8 0| 4 16 0| 5 12 0| | 120 | 2 10 0| 3 6 8| 3 15 0| 4 3 4| 4 11 8| 5 0 0| 5 16 8| | 115 | 2 12 2| 3 9 7| 3 18 3| 4 7 0| 4 15 8| 5 4 4| 6 1 9| | 110 | 2 14 6| 3 12 9| 4 1 9| 4 10 11| 5 0 0| 5 9 0| 6 7 3| | 105 | 2 17 2| 3 _6_ 2| 4 5 9| 4 15 3| 5 4 9| 5 14 4| 6 13 4| | 98 | 3 1 3| 4 1 8| 4 12 10| 5 2 0| 5 12 2| 6 2 6| 7 2 10| | 96 | 3 2 6| 4 3 4| 4 13 9| 5 4 2| 5 14 4| 6 5 0| 7 5 10| | 94 | 3 3 9| 4 5 0| 4 15 7| 5 6 4| 5 17 0| 6 7 6| 7 8 10| | 92 | 3 5 3| 4 7 0| 4 17 10| 5 8 9| 5 19 7| 6 10 6| 7 12 3| | 90 | 3 6 8| 4 8 10| 5 0 0| 5 11 1| 6 2 3| 6 13 4| 7 15 7| | 88 | 3 8 3| 4 10 10| 5 2 4| 5 13 7| 6 5 0| 6 16 6| 7 19 0| | 86 | 3 9 9| 4 13 0| 5 4 7| 5 16 3| 6 7 11| 6 19 6| 8 2 9| | 84 | 3 11 6| 4 15 4| 5 7 3| 5 19 1| 6 11 0| 7 3 0| 8 6 9| | 82 | 3 13 1| 4 17 6| 5 9 7| 6 2 0| 6 14 2| 7 6 3| 8 10 7| | 80 | 3 15 0| 5 0 0| 5 _7_ 6| 6 5 0| 6 17 6| 7 10 0| 8 15 0| | 78 | 3 17 6| 5 2 10| 5 15 8| 6 8 7| 7 1 6| 7 14 3| 9 0 0| | 76 | 3 18 10| 5 5 2| 5 18 4| 6 11 6| 7 4 7| 7 17 8| 9 3 11| | 74 | 4 1 0| 5 8 0| 6 1 6| 6 15 0| 7 8 6| 8 2 0| 9 9 0| | 72 | 4 3 4| 5 11 1| 6 5 0| 6 18 11| 7 12 9| 8 6 8| 9 14 5| | 70 | 4 5 9| 5 14 3| 6 8 7| 7 2 10| 7 17 6| 8 14 3|10 0 0| | 68 | 4 8 1| 5 17 6| 6 12 2| 7 7 0| 8 1 9| 8 16 3|10 5 9| | 66 | 4 10 0| 6 0 0| 6 15 0| 7 10 0| 8 5 0| 9 0 0|10 10 0| | 64 | 4 13 9| 6 5 0| 7 0 8| 7 16 3| 8 11 10| 9 7 6|10 18 9| | 62 | 4 16 9| 6 9 0| 7 5 1| 8 1 3| 8 17 4| 9 13 6|11 5 9| | 60 | 5 0 0| 6 13 4| 7 10 0| 8 6 8| 9 3 4|10 0 0|11 13 4| | 58 | 5 3 5| 6 17 10| 7 15 1| 8 12 4| 9 9 7|10 6 10|12 1 4| | 56 | 5 7 1| 7 2 10| 8 0 8| 8 18 6| 9 16 4|10 14 3|12 10 0| | 54 | 5 11 9| 7 8 0| 8 6 9| 9 5 0|10 4 3|11 2 0|12 19 0| | 52 | 5 15 3| 7 13 6| 8 12 10| 9 12 3|10 11 4|11 10 6|13 9 0| | 50 | 6 0 0| 8 0 0| 9 0 0|10 0 0|11 0 0|12 0 0|14 0 9| | 48 | 6_15_ 0| 8 6 8| 9 7 6|10 12 6|11 9 0|12 5 0|14 11 8| | 46 | 6 10 4| 8 13 10| 9 15 0|10 17 4|11 19 0|13 0 0|15 4 2| | 44 | 6 16 1| 9 1 10|10 4 6|11 1 9|12 10 0|13 12 9|15 18 2| | 42 | 7 2 9| 9 10 2|10 19 3|11 18 0|13 2 0|14 5 3|16 13 4| | 40 | 7 10 0|10 0 0|11 5 0|12 10 0|13 15 0|15 0 0|17 10 0| | 36 | 8 6 8|11 2 2|12 10 0|13 17 9|15 5 0|16 13 4|19 15 7| | 32 | 9 7 6|12 10 0|14 1 3|15 12 6|17 3 9|18 15 0|21 17 6| | 30 |10 0 0|13 6 8|15 0 0|16 13 4|18 6 8|20 0 0|23 6 8| | 26 |11 10 0|15 7 9|17 6 3|19 5 0|21 3 6|23 1 6|26 18 6| | 20 |15 0 0|20 0 0|22 10 0|25 0 0|27 10 0|30 0 0|35 0 0| | 15 |20 0 0|26 13 4|30 0 0|33 6 8|36 13 4|40 0 0|46 0 0| | 10 |30 0 0|40 0 0|45 0 0|50 0 0|55 0 0|60 0 0|70 0 0| ———————————————————————-
EXAMPLES OF BUSINESS COMMUNICATIONS.
CORRESPONDENCE.
(Sending Money by Post.)
Address___________________ Date___________________ The Manager,
Blankshire Bank.
Sir,
Please place the amount of the enclosed cheques and notes to the credit of my account and acknowledge receipt to
Yours faithfully
JANE SMITH.
Cheque £20 0 0
Notes £45 0 0
——-
£65 0 0
(Requiring Money.)
Address___________________ Date___________________ The Manager,
Blankshire Bank.
Sir,
I shall be obliged by your sending me under registered cover to the above address £15 in £5 Bank of England notes for which I enclose my cheque.
Yours faithfully
JANE SMITH.
Blanktown.
(Acknowledging Receipt.)
Address___________________ Date___________________ The Manager,
Blankshire Bank.
Sir,
I have to acknowledge with thanks the receipt of £15 in bank notes.
Yours faithfully
JANE SMITH.
Blanktown.
(Transfer to Deposit Account)
Address___________________ Date___________________ The Manager,
Blankshire Bank.
Sir,
I shall be obliged by your transferring £300 from my current account to a deposit account and forwarding me the receipt.
I enclose a cheque for the amount. Yours faithfully
JANE SMITH.
Blanktown.
(Arranging for Cheque to be Honoured by Another Bank.)
Address___________________ Date___________________ The Manager,
Blankshire Bank.
Sir,
I shall be obliged if you will advise your Branch _(or some other Bank)_ at Liverpool to pay me £20 on application.
Yours faithfully
JANE SMITH.
Blanktown.
(Request for Passport and Circular Notes.)
Address___________________ Date___________________ The Manager,
Blankshire Bank.
Sir,
I propose during the next two or three months to travel on the Continent accompanied by my niece, Miss Lucy Smith, and my maid, Jane Parker. Will you kindly obtain a passport for us and also forward me £100 in circular notes, for which I enclose my cheque.
Yours faithfully
JANE SMITH.
Blanktown.
(Ordering Letter of Credit to Remit.)
Address___________________ Date___________________ The Manager,
Blankshire Bank.
Sir,
I desire to send £120 to John Smith, residing near Winnipeg, in North America; and shall be obliged if you will send me the necessary form to remit to him so that he may obtain the money without difficulty or delay. Yours faithfully
JANE SMITH.
_N.B. — Remittances in this way can be sent to almost every town in the civilised world._
(Remitting in this Country.)
Address___________________ Date___________________ The Manager,
Blankshire Bank.
Sir,
I shall be obliged by your advising your Branch Bank (or some other Bank) in Leeds, to pay George Jones on application the sum of £54, for which I enclose a cheque and a specimen of Mr. Jones’s signature. Yours faithfully
JANE SMITH.
Blanktown.
(Lodging Securities at Bank.)
Address___________________ Date___________________ The Manager,
Blankshire Bank.
Sir,
I shall be obliged by your taking charge for me of some securities which you will find specified on the other side, and hold them for safe custody. Please also cut off and collect the coupons attached to the Bonds and place the amounts from time to time, as they fall due, to the credit of my account.
Yours faithfully
JANE SMITH.
Blanktown.
(Order to Receive Dividends.)
Address___________________ Date___________________ The Manager,
Blankshire Bank.
Sir,
I am desirous that the dividends or interest in my stock shall be paid to the bank direct for the credit of my account.
Kindly send me the proper form or order for my sig- nature.
Yours faithfully
JANE SMITH.
Blanktown.
(Ordering Investments.)
Address___________________ Date___________________ The Manager,
Blankshire Bank.
Sir,
Please purchase on my account £500 stock 2 3/4 per cent. Consols at the market price, and send me an account of the same when I will forward my cheque in payment. Yours faithfully
JANE SMITH.
Blanktown.
Or
Please purchase £500 Preference _(stating which stock)_ Stock in the Great Blankshire Railway, at a price not exceeding £150 per cent., in my name, and send me the account for the same, when I will forward my cheque for the cost.
Yours faithfully
JANE SMITH.
The same form can of course be adapted for selling out, by substituting “sell” for “purchase,” writing “less” for “not exceeding,” and omitting the line as to forwarding the cheque.