Postal savings

Bibliographic data

Monograph

Identifikator:: 869930397

URN:: urn:nbn:de:zbw-retromon-49420

Document type:: Monograph

Author:: Kemmerer, Edwin Walter http://d-nb.info/gnd/101827717

Title:: Postal savings

Place of publication:: London

Publisher:: Humphrey Milford

Year of publication:: 1917

Scope:: 1 Online-Ressource (VIII, 176 Seiten)

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Appendix B

Collection:: Economics Books

APPENDIX B 159 (c) Interest shall be computed upon the low est monthly balance to the credit of the account during each month of the fiscal year and shall be placed to the depositor’s credit at the end of each fiscal year: Provided, That if the account is closed during the fiscal year the interest shall be added at the time the account is closed. (d) No interest shall be allowed upon frac tions of a peso or for the fractional part of a calendar month. (e) The Philippine Government reserves the right to alter the rate of interest at the end of each fiscal year. (/) At the end of each fiscal year the chief of the postal savings bank division shall send a statement of the interest accrued on each deposit to every depositor, and a duplicate statement of the same to the postmaster of the postal savings bank most convenient to the residence of said depositors, respectively, and said postmasters shall, upon presentation of the deposit books by the respective depositors, together with the above-mentioned statement, enter the amount as a deposit in the deposit book of said depositor in the manner provided in section eight of this Act. (g) Any postal savings bank account upon which there has not been made, for a period of ten years, any deposit, withdrawal, or other operation made on demand of the depositor, or his legal representatives or assignees, shall cease to be productive of interest and shall be reim bursable at the amount existing to the credit of said depositor upon the thirtieth of June follow ing the date upon which said ten-year period shall have expired: Provided, That in the case of deposits made by one person or society to the credit of another person or society under the stipulation that the latter person or society shall

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