The Coeur d'Alene press. (Coeur d'Alene, Idaho) 1892-1907, 1894-06-30
GOVERNMENT BONDS,
SOME BUYERS FORGET TO COLLECT
INTEREST OR PRINCIPAL.

Same lnferesting Iusormatioa Expreese.
In lArxs Figures-Ths Diasrs.os h
tween Coupon and Registered Bo.ds
Nov lntersss Piles Up.
A number Of snug fortunes arc lyin,
In the United States treasury waitin,
for somebody to step up and claim them
This money is due on bonds long az,
called in. Some Of them have neve,
been cashed by the holders. On tn,
"old debt" which embraces all loan.
made to this government mp to 1887
el2l.OOO IL still owing. Since that dat<
more than 81 .O0O. 900 has accumulated
being uncallei for by the persons en-
titled to it. either through negligence o,
for other reasons.
A considerable fraction Of this great
sum is now held by the treasurer Of the
United States in the shape Of checks.
Interest on registered bonds Is paid BY
check. but as people are constantly
changing their addresses it not infre-
quently happens that track is lost for
awhile Of an individual bondholder. On
der such circumstances the quarterly in
terest checks are retained as they fall
due and in the course Of time pile up.
They are kept for an indefinite period
and are good forever.
There are such checks in the treasur-
er's Office now which have accumulated
during more than 10 years. On the 9TH
er hand, knowing that they are always
good for the money they represent, peo-
pie often keep these interest checks, put
ting them away and boarding them. just
as II they were SO much cash. Only the
other day batch Of 10 checks for 81
each was received at the treasury. The
owner had simply put them away a.
they came in year after year.
The millionaire is commonly repre-
sented as engaged in clipping coupons
from bonds This is an egregious error.
Rich men. as a rule. do not hold coupon
bonds. Such bonds are not safe prop
erty. They are always payable to bearer
like treasury notes. If lost, the govern
ment will not replace them. According
ly. for the sake Of security. people are
constantly exchanging them for regis
tered bonds. The sum total Of coupon
bonds is now about SO 900. 900. mostly
in the hands Of small holders.
Registered bonds are rich mems prop-
erty par excellence. At present about
&a0o. 900. 900 worth Of them is held by
private individuals. or this great sum
$4,000. 900, or not far from one-half, il
owned by 1000 persons. roughly speak
ing. whose holdings average go, 900.
The names Of these fortunate individ.
nails are kept secret by the treasury.
Some Of the fortunes possessed in this
shape are enormous. Among the great
est holdings are those Of the Wander
bits Old William 81. Vanderbilt had
-. 100000 in registered bonds at one
time.
About 90 years. ago 5000 worth Of
the consols Of 1865 and 1867 were stolen
in Havana. The thief altered them bv
erasins the name from the face and sold
them to ignorant persons. They were
for $1,000 each. Ever since then they
have been coming in to the treasury |
through banks and otherwise. OF course |
they were useless to the holders, being
registered and only payable to the orig
inal owner.
The original owner lost nothing. of |
course. All he had to do was to notify
the secretary OF the treasury, giving an
affidavit and a bond Of indemnity. and
the stolen consols were replaced. That
Is the advantage Of registered bonds
The number Of such bonds that have
been lost and stolen is astonishing. A
list Of them. numbering nearly 1000. Is
printed and circulated by the govern
neut.
II IL called the ''caveat list" and is de-
igneti to warn bankers and Others
lgsinst accepting securities Of the num-
'ers mentioned. Some time ago a report
anne from indianapolis Of a bond that
vas said to have been destroyed. All
avits. etc. being furnished. a new one
ras issued to replace it. Ten years later
hat identical security was forwarded to
he treasury from Holyoke. Mass.
II had been found in a lot Of waste
aper at a paper mill. There was no
uestion Of fraud in this case. The OWL
= lost 1t and supposed that It had been
urned
A great many bonds called for re-
emption 90 years and more ago have
ever been presented for payment. Some
I them have doubtless been put away
md forgotten. 1t is imagined that 9th
m have been lost at sea together with
heir owners. The quantity of gold and
liver in coin and bullion sunk from
rrecks in the ocean amounts to manv
Millions Of dollars in the course of q GEN.
urv.
Only about $4,000. 900 worth Of bonds
possessed by comparatively poor per
pms. and these in sums Of $500 or less.
About 30 years ago Uncle Sam lent 4
II OF money to help build various trans
ontinental railways. 1t was understood
nat the companies would refund the
ash as soon as they got well started.
here is little likelihood that any con-
derable part Of it will ever be paid.
here is still owing $64. 0OO, 900 Of orig.
'al Indebtedness, plus &c. 900. 900 Of in
rest. q
To raise this money for the use Of the e
always. the government issued bonds
differen times from 1865 to 1869. They .
ere to run fc. 30 years at Q per cent.
be treasury is still paying this big in.
rest. which is more than twice what y
70 loan u worth todsy.-New York =
1orld.
She Loves Scotch Mussa. .
Lady Elsin is very unsteady inclined .
I'd has special predilection for the 4
'aracteristic compositions Of her native e
nd and has taught all her children 70 q
ng the Emo old Scottish melodies. II u