The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-06-21

Issued In both coupon ana registered
form
A coupon bond is payable to the bear
err. 1t may be bought and sold without
formality ~ freely as any kind Of prop
erty snd without Inducements Of any
kind. Owing to the freedom of trans
Ter, coupon bonds are usually preferred
by persons who expect to hold them
| but q short time. Their disadvantage
for the person who wishes to make q
ger 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 q bank note. The coupon bonds
take their name from the method by
which interest IL collected by the
holder.
Printed on the same shee with the
bond is q series of coupons or small
certificates of interest due. which are
SO designed hat one il cut on 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 inter-
est period. detaches the coupon due
that day and collects II. The coupons
are payable at any sub-treasury, and
may be collected through any bank.
n will usually be accepted by any
merchant having a bank account, with
whom the holder OF the bond has deal
ings. The holder of q coupon bond may
at any time have II concerted into a reg
istered bond free of charge.
A registered bond is payable to the
order Of he owner. and can only be
IN assigned by the owner. Such as
signment IL made by the owner filing
in the blank form on the back of the
bond, n must be witnessed by some
officer authorised by the regulations of
the treasury department to witness as
as-~-,--. III
bono who wishes to part with ii writes
his name on h back of the bond in
the presence of the officer; then the
witnessing officer writes his name in its
proper place and afiixes an impression
of his official seal.
The Officers who are authorized to
witness assignments are a United
States judge, United States district at
torney, clerk of a United States court,
collector of customs, collector or asses
SCR of internal revenue. United States
treasurer or assistant treasurer, or the
president or cashier Of a national bank.
or IL in a foreign country, a United
States minister or consul. In cases
where there is no officer within a rea-
sonable distance, or when, through
sickness or for some other good rea-
son. the owner of registered bonds can
not go before n of these officers. the
treasury department will designate
some person near the owner to act as
witness.
When the owner of a registered bond
disposes of 1t n has properly assigned
1t. he delivers 1t to the new owner. who
should at once forward it to the regis
ter of the treasury for transfer on the
books Of the department. The register
cancels the bond so forwarded and is
sues a new bond in the name of the
new owner. and sends it to him by reg
istered mail. The department makes
no charge for transferring bonds.
If the owner Of a registered bond
loses 1t, or If ii is stolen from him, he
should at once notify the secretary of
the treasury. A ~stoppage will be en-
tered against the bond and. IL it should
be presented for transfer. the depart
ment will hold possession of the bond
until the ownership is clearly estab-
lished. If a lost or stolen bond is not
recovered within six months, the de-
partment will issue a duplicate bond
upon proof of loss and a bond of in
demnity being furnished.
The interest on registered bonds is
paid by the government by means of
checks. In order that no mistake may
be made in the payment of interest.
the books OF the department are
"closed" for a period. varying accord
ing to the Importance of the loan. The
books of the 4 per cent loan of 1907 are
closed for the whole month preceding
the payment Of a quarters interest.
On other loans the books are closed for
Is days preceding the interest payment.
During his period no transfers are
made, n h time is devoted to pre-
pairing schedules which contain the
names of the owners, the amount of
bonds each one holds, and the amount
of interest due each one. When these
schedules have been prepared and
proved, they are sent to the treasurer
of the United States. who Immediately
has checks and envelopes addressed,
and in due time each check is mailed
to the address of its owner. The checks
for the more distant points are first
mailed. Interest checks are obligations
of the United States. and, Of course, are
good everywhere.
Coupon bonds are issued in denomi-
nations of $50. 500, $500 and $1,000.
nations Of $50. 500. $500. $1,000. $1,000.
$4,000
The war loan which is now being Of
fered will be sold to subscribers at par
during the period of subscription.
which ends July IA. 1898. The method
pie as possible. Blank forms may be
obtained at every money order post
Office, and at most of the banks and ex-
press ofices. and on these forms Is
clearly indicated all that II is neces-
sary for the subscribers to fill out. The
SuOSCIioCI may uiiuSciI I1dll 10 tile
treasury department at Washington
the blank form filled out, together with
his remittance covering the par value
of the moun of bonds for which he
wishes to subscribe. That remittance
may be in whatever form best suits the
subscribers convenience-in currency,
bank draft, check. postoffice money or
der or express money order. The day
the currency is received. or the day the
proceeds are received from the checks,
drafts or money orders, the subscrip-
ton will be entered and will immedi-
ately begin drawing interest. When
the ond are delivered. a check will
accompany each delivery covering the
interest at 3 per cent from the day the
subscription Is entered to the LIST of
August, the date of the bonds, and
from which date the bonds will carry
their own interest.
Excursies TO salt Lake. :.