APPENDIX A 
149 
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 Such funds may be withdrawn from 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funds, may be at any time withdrawn from the 
banks and savings depository offices for the re 
payment of postal sayings depositors when re 
quired for that purpose. If at any time the 
postal savings deposits in any State or Terri 
tory shall exceed the amount which the qualified 
banks therein are willing to receive under the 
terms of this act, and such excess amount is not 
required to make up the reserve fund of five per 
centum hereinbefore provided for, the board of 
trustees may invest all or any part of such ex 
cess amount in bonds or other securities of the 
United States. When, in the judgment of the 
President, the general welfare and interests of 
the United States so require, the board of trus 
tees may invest all or any part of the postal 
savings funds, except the reserve fund of five 
per centum herein provided for, in bonds or 
other securities of the United States. The board 
of trustees may in its discretion purchase from 
the holders thereof bonds which have been or 
may be issued under the provisions of section 
ten of the act of June twenty-fifth, nineteen 
hundred and ten. 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 
further, That postal savings funds in the treas 
ury 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 
savings investments and use the proceeds to 
All funds 
available for 
repayment of 
depositors. 
Excess deposits 
in any State 
may be invest 
ed in United 
States bonds. 
All funds ex 
cept reserve 
may be in 
vested by di 
rection of the 
President. 
Board of trus 
tees may pur 
chase postal 
savings bonds 
from holders. 
Interest and 
profit applied 
to payment of 
interest. 
Excess to be 
covered into 
postal reve 
nue. 
Unauthorized 
disposition of 
funds forbid 
den. 
Disposal 
of investment 
bonds to meet 
withdrawals.