Democratic Sentinel, Volume 17, Number 3, Rensselaer, Jasper County, 3 February 1893 — A Marve[?] Business. [ARTICLE]

A Marve[?] Business.

One person out of every seven in the United Kingddm is a depositor In the postoffice savings banks, which have n arly $360,000,000 deposits. To manage this business there is a headquarters staff of not far from 1,900 persons at the London Postofflce Bank, of which every money order postofflce in Great Britain and Ireland Is a branch. Every deposit made in any one of the postoffioes is forwarded to the London headquarters. The local postmaster simply takes ths cash and sends it up to London, merely entering it on his accounts and on the depositor’s book. The London' offlce keeps an account against every one of the 10,000 branch offices. How great is the labor entailed will be realized when it is stated that in one day as many as 72,689 deposits have been made, that last year 992,000 accounts were opened and 701,000 dosed. It is estimated that In the twenty-five years the postofflce savings bank system has been in operation frauds and inaoouraolea have, amounted to only about a half-psnny sot •vsry A6o*. ’ *