APPENDIX  A

deposited  under  the  terms  of  this  act  in  the
hank  most  convenient  to  such  locality.  If  no
such  bank  in  any  State  or  Territory  is  willing  to
receive  such  deposits  on  the  terms  prescribed,
then  the  same  shall  be  deposited  with  the  treasurer ­
  of  the  board  of  trustees,  and  shall  be  counted ­
  in  making  up  the  reserve  of  five  per  centum.
Such  funds  may  be  withdrawn  from  the  treasurer ­
  of  said  board  of  trustees  and  all  other  postal
savings  funds,  or  any  part  of  such  funds,  may
be  at  any  time  withdrawn  from  banks  and  saving
depository  offices  for  the  repayment  of  postal
savings  depositors  when  required  for  that  purpose. ­
  Not  exceeding  thirty  per  centum  of  the
amount  of  such  funds  may  at  any  time  be  withdrawn ­
  by  the  trustees  for  investment  in  bonds
or  other  securities  of  the  United  States,  it  being
the  intent  of  this  act  that  the  residue  of  such
funds,  amounting  to  sixty-five  per  centum  thereof, ­
  shall  remain  on  deposit  in  the  banks  in  each
State  and  Territory  willing  to  receive  the  same
under  the  terms  of  this  act,  and  shall  be  a  working ­
  balance  and  also  a  fund  which  may  be  withdrawn ­
  for  investment  in  bonds  or  other  securities ­
  of  the  United  States,  but  only  by  direction
of  the  President,  and  only  when,  in  his  judgment, ­
  the  general  welfare  and  the  interests  of
the  United  States  so  require.  Interest  and  profit
accruing  from  the  deposits  or  investment  of
postal  savings  funds  shall  be  applied  to  the  payment ­
  of  interest  due  to  postal  savings  depositors
as  hereinbefore  provided,  and  the  excess  thereof,
if  any,  shall  be  covered  into  the  Treasury  of  the
United  States  as  a  part  of  the  postal  revenue
Provided,  That  postal  savings  funds  in  the
treasury  of  said  board  shall  be  subject  to  disposition ­
  as  provided  in  this  act,  and  not  otherwise  :
And  provided  further,  That  the  board  of  trustees
may  at  any  time  dispose  of  bonds  held  as  postal