Towns > Greenock > 1847-1912 - Post-office Greenock directory > 1888-1889

APPENDIX. 17
further deposit when the amount standing in his name exceeds 7^150,
exckisive of interest. When any depositor's principal and interest
amount together to ;^200, all interest will cease so long as the balance
of the account continues to amount to the said sum of ;;^200.
Interest at the rate of £2. los per cent, per annum (which is at the
rate of sixpence a year, or one halfpenny a calendar month, for each
complete pound) is allowed until the sum due to a depositor amounts to
;^200, when interest ceases. The calculation is made from the first day
of the calendar month next following the day on which a pound has
been deposited, or completed, up to the last day of the calendar month
preceding the day on which a warrant for repayment is issued, and after
each 31st December the interest is added to the principal.
When a depositor wishes to make a withdrawal from his account, he
should fill up and forward to the Savings Bank Department a notice of
withdrawal, which he can obtain at any Post Office Savings Bank. He
will then receive by post a warrant, which he should present together
with his book at the Post Office, where payment is to be made. The
Postmaster General will endeavour to prevent fraud, and to identify
every depositor transacting business with the Post Office Savings Bank;
but if any person shall obtain possession of a depositor's book, and then
fradulently represent him to be the depositor, and by forwarding the
proper notice of withdrawal, and by presentation of the depositor's book,
and compliance with the rules of the department, shall obtain any sum
of money belonging to that depositor, the Postmaster General will not
be responsible for the loss thereof.
On making his first deposit, every person must give his Christian
name and surname, and state his occupation and residence, and must
sign a declaration, to be witnessed by the Postmaster, or by some person
known to the Postmaster, or by a minister or churchwarden of the
parish in which the depositor dwells, or by a Justice of the Peace ; and
if such declaration or any part thereof shall not be true, the depositor
making the same shall forfeit all right to his deposits.
At every Post Office in the United Kingdom forms can be obtained
free of charge, on which twelve penny postage stamps can be fixed ;
and when the form has been thus filled with twelve penny stamps, it
will be received at any Post Office Savings Bank as a Savings Bank
deposit for a shilling.
Investment and Sales of Government Stock.
A depositor in the Post Office Savings Bank who desires to invest
in Government Stock must send to the Controller of the Savings Bank
Department, General Post Office, London, together with his deposit
book, an application signed by him on a form to be obtained at any
Post Office Savings Bank. Such investments can be made in Consoli-
dated, Reduced, or New Three per cent. Stock, or in Two and Three
Quarters or Two and a Half per cent. Stock.
Within seven days from the receipt of such application the Depositor's
account will be charged with the current price of the Stock purchased
and the commission, the necessary entries being made in his deposit
book ; and the Depositor will be credited in the Government Stock
Register of the Post Office Savings Bank with the equivalent amount
of Stock, and an investment certificate will be sent to him by post.