Postal savings

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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:: Chapter V - Investment of postal savings funds

Collection:: Economics Books

124 POSTAL SAVINGS their market value (unless the market value is above par value). This last class consists of se curities meeting the conditions mentioned for class (c), except for the fact that they refer to places having a census population of not more than 30,000. Under date of March 30, 1917, the Board of Trustees added farm loan bonds authorized by act of Congress approved July 17, 1916, to the list of securities constituting group ( a) which are acceptable at their par value; and on April 24, the board added to the same list interest bearing certificates of indebtedness of the United States Government. As collateral for postal savings deposits, mu-, nicipal bonds have been by far the most popular type of security offered by banks; and the de mand for high grade municipal bonds for postal savings collateral has been a substantial influence in the market for a number of issues. It is an interesting fact that not a dollar has yet been lost by the postal savings system through inadequacy of security given by depository banks. Rate of Interest Paid by Depository Banks Section 9 of the organic Postal Savings act says that the rate of interest paid by depository banks shall he “not less than 2j per centum per

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