Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-07-15
TREASURY CIRCULAR
ADDRESSED TO ALL HOLDERS OF THREE AND
HALF PER CENT. BONDS.

HALF PER CENT. BONDS.
WASHINGTON, July 14-The secretary of
the treasury has issued a circular addressed
to all holders of three and half per cent.
CONTINUED bonds" in which, after-ssuotins
the eleventh section of the bank charter aci,
approved the 18th instant, authorizing the
issre of three per cent. bonds in exchange for
three and half per cent. bonds he saws:
.sIJnder the provisions OF this law the depart
ment will be prepared to receive on and after
the Ist day OF August next, at 10 O'Clock
a. NJ, until further notice, any bonds issued
under the act of March Sd, 1868, and five per
cent. bonds issued under the acts of July
IA. 1870. and June 20, 1874, continued, as
stated above, to bear interest at three and a
half per cent. per annum, which have not
been called for payment by the collector
therefor. issued prior to the dste hereof, and
as early as parcticsb Bile thereafter, will issue
in exchange therefor like amount of
United States registered bonds, bearing in
terest at the rate of three per cent. per an
mum, as provided by act approved July II,
1882, to take effect. Exchange bonds
should be surrendered to the secre-
tary of the treasury in accordance
with the terms of this circular. They will
then be accepted for that purpose, in order
to surrender them to him, and new bonds
bearing interest at the rate OF three per cent.
per annum be issued in the same order in
lieu thereof. A letter of trausmittsl should
accompany each package of bonds for ex-
change, setting forth the purpose for which
they are forwarded and giving the address
TO which the new bonds and checks Tor inter-
eft thereon shall be sent When the bonds
are already in the custody of this depart
nent or an officer thereof, or are transmitted
in any other way than with letter OF trans
initial, a letter advising Of the proposed
snrrA,adNr -sI,orrId be sent, coraplyirs With the
requisites for letter of Transmission and
with such other requisites as the case de-
m ands, under the regulations prescribed in
this circular. The surrender may be made
by mail or by express, and not otherwise,
beginning on the LIST day of August next,
at 10 O'Clock am. If made by mail, the
postmaster should stamp or otherwise
the bonds or the letter advising
their surrender, and the day, hour and
minute at which received by him. If made
by express the express agents should in like
m amer be a stamped or marked envelop.
Bonds held by the treasurer of the United
States in trust for national banks may be
surrendered by letter addressed to the Sec
rotary of the treasury, accompanied by the
treasurer's receipts representing the bonds,
together with a resolution of the Board of
Directors of the bank authorizing the treas
ury to assign the bonds. Interest on bonds
surrendered will cease the LIST day of August
next, and new bonds will bear interest from
that date. Envelopes should be addressed
to the Secretary of the Treasury, division
of loans, etc." and marked, "bonds for ex-
change into three per cent. bonds" and
should be assigned to the secretary of the
treasury for exchange into three per cent.
bonds. Where new bonds is desired in a name
other than that of the holder of the old
bonds, the old bonds should be assigned to the
secretary of the treasury for exchange into
three per cent. bonds in the name authorized.
The department will pay no expense of
the transportation on bonds received under
the rrouisInn. of this