The western sentinel. [volume] (Winston-Salem, N.C.) 1887-1926, 1898-06-30
UNITED STATES BONDS.


dollars of bonds for the purpose OF
meeting war expenditures. inns Is
what is known as a popular loan
That is, the people at large are asked
to loan the government the sum
named at 3 per cent interest, IN
stead of asking the money syndicates
to make the loan. To place the
bonds within the reach of people OF
moderate means subscriptions are
requested as low as twenty dollars
and from that sum up to ten thous-
and dollars, and it is announced that
the smaller subscriptions will be
given the preference. From the
present outlook, it appears that none
of the bonds will be of large denomi-
nation, SO great is the response for
the smaller issues.
For the benefit of those interested
In the matter we give the following
information, recently sent out by the
Secretary of the Treasury, which
treats of the desirability of United
States bonds as an investment, the
difference between coupon" and
Registered" bonds, how to subscribe
for bonds, etc. The circular says:
Omitted States bonds are recog-
nized as the most secure and stable
form of obligation that investors
can hold. They are attractive, not
only because of the absolute security
offered, but because there is at all
times a public market for them on
which holders can quickly sell; and
they also offer the most desire BILE
form of collateral if the holder wishes
to secure a temporary loan. The
fact that United States bonds are
not subject to taxes of any character
Federal, State, or municpal-is a
valuable feature of that form of in
vestment. United States bonds are
issued in both coupon and registered
form.
ga coupon bond is payable to the
bearer. 1t may be bought and sold
without formality as freely as any
kind of property and without in
dorsements of any kind. Owing to
the freedom of transfer, coupon
bonds are usually preferred by per
SONS who expect to hold them but a
short time. Their disadvantage for
the person who wishes to make a
permanent investment lies in the
danger that they might be lost or
stolen, in which case the loss to the
owner would be as complete as would
be the loss of a bank note. The
coupon bonds take their name from
the method by which interest is
collected by the holder.
printed on the same sheet with
the bond is a series of coupons or
which are so designed that one is
cut off at each interest period. Each
coupon bears the number of the
bond and shows the date of the
coupons maturity. The holder of a
coupon bond, at each interest period,
detaches the coupon due that day
and collects it. The coupons are
payable at any Sub-Treasury, and
may be collected through any bank,
and will usually be accepted by any
merchant having a bank account,
with whom the holder of the bond
has dealings. The holder of coupon
bond may at any time have it con-
verted into registered bond free of
charge.
"a registered bond is payable to
the order of the owner, and can only
be transfered by being properly in
dorsed and assigned by the owner.
Such assignment is made by the
owner filing in the blank form on the
back of the bond, and must be wit
messed by some officer authorized by
the regulations of the Treasury De-
partment to witness assignments.
The owner of the registered bond
who wishes to part with it writes his
name on the back of the bond in the
presence of the officer; then the wit
Messing officer writes his name in it's
proper place and affixes an impress
sion of his official seal.
"The officers who are authorized
to witness assignments are a United
States judge, United States district
attorney, clerk of a United States
court, collector of customs, collector
or assessor of internal revenue,
United States Treasurer or Assist
ant Treasurer, or the president or
cashier of a national bank, or if in a
foreign country, a United States
minister or consul. In cases where
there is no officer within reasonable
distance, or when, through sickness
or for some other good reason, the
owner of registered bonds can not go
before one of these officers, the
Treasury Department will designate
anno nQrGnn tho 70 Of
as witness.
"When the owner of a registered
bond disposes of it and has properly
assigned it, he delivers it to the new
owner, who should at once forward
1t to the Register of the Treasury for
transfer on the books of the Depart
ment. The Register cancels the bond
so forwarded and issues a new bond
in the name of the new owner, and
sends it to him by registered mail
The Department makes no charge for
transferring bonds.
eff the owner of a registered bond
loses it, or if it is stolen from him, he
should at once notify the Secretary
of the Treasury. A stoppage will be
entered against the bond, and, if it
should be presented for transfer, the
will hold possession OF
the bond until the ownership is
clearly established. If a lost or
stolen bond is not recovered within
six months, the Department will
issue a duplicate bond upon proof of
loss and a bond of indemnity being
.sThe interest on registered bonds
Is paid by the Government by means
Of checks. In order that no mistake
NAV ha made in tha Daymanf IF in