SCHOOL SAVINGS’ BANKS.
[By Telegrafh.] Wellington, January 27. The regulations under which Penny Savings’ Banks in schools are to bo established are as follows : They shall be under the management of a trustee and treasurer, and at least one other person, two of whom shall be appointed by the school committee, the treasurer to be the head master or one of the other teachers. The Bank deposits are to be invested in the nearest Post-office Savings’ Bank, in the names of the trustee and treasurer of the school. Two managers arc to attend at the day appointed for receiving deposits in the school. Deposits of Id may be received, but when the account reaches £5 it is to be 'transferred to the Post-office Savings’ Bank. Interest may be allowed to each depositor at a rate to be fixed by the school committee, but it is recommended that no interest shall be allowed during the first year after the establishment of the Penny Bank, Books, ledgers, journals, and regulations will be issued to the various Education Boards in a
few days.
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Bibliographic details
Globe, Volume XX, Issue 1542, 28 January 1879, Page 3
Word Count
180SCHOOL SAVINGS’ BANKS. Globe, Volume XX, Issue 1542, 28 January 1879, Page 3
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