Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1898-06-22
UNITED STATES BONDS.
Secretary Gage Explains Their Nature to
the Public.

the Public.
THE ENQUIRER is in receipt of the
following circular letter, dated at the
treasury department, Washington,
June 13, signed by L. ]. Gage, and
giving full information as to the nature,
characteristics and incidents of the
government loan now pending:
UNITED STATES BONDS.
United States bonds are recongized
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 desirable 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 munich
pals valuable feature of that form
of investment. United States bonds
are issued in both coupon and regis
tered form.
COUPON BONDS.
A coupon bond is payable to the
bearer. 1t may be bought and sold
without formality as freely as any
kind of property and without indorse-
ments of any kind. Owing to the
freedom of transfer, coupon bonds are
usually preferred by persons who ex-
pect to hold them but short time.
Their disadvantage for the person who
wishes to make Il permanent invest
ment lies in the danger that they
might be lost or stolen, in which case
the loss TO the owner would be as COM
plete as would be the loss of bank
note. The coupon bonds take their
name from the method by which inter-
est is collected by the holder.
Printed on the same sheet with the
bond is series of coupons or small
certificates of interest due, 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 in
terest 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 deal
ings. The holder of coupon bond
may at any time have it converted
into registered bond free of charge.
REGISTERED BONDS.
A registered bond is payable to the
order Of the owner, and can only be
transferred by being properly indorsed
and assigned by the owner. Such as
signment is made by the owner filling
in the blank form on the back of the
bond, and must be witnessed by some
officer authorized by the regulations of
the treasury department to witness
assignments. The owner Of the reg
istered bond who wishes to part with
it writes his name on the back of the
bond in the presence Of the officer !;
then the witnessing officer writes his
name in its proper place and atlixes an
impression of his official seal.
The officers who are authorized to
witness assignments are United
States judge, United States district at
torney, clerk of a United States court,
collector of customs, collector or as
SCISSOR of internal revenue, United
States treasurer or assistant treasurer,
or the president or cashier of a nation
al bank, or if in a foreign country, a