The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1898-06-21

obligation that investors can hold.
They are attractive, not only because
Of the absolute security offered, but
because there is at all times q public
market forgthem on which holders can
quickly sell; and they also offer the
most desirable form Of collateral IL
the holder wishes to secure q tempo
vary loan. The fact that United States
bonds are not subject to taxes Of any
character-Federal, State, or munich.
pals O valuable feature OF that form
of investment. United States bonds
are issued in both coupon and registered
form.
COUPON BONDS.
A coupon bond is payable to the
bearer. It may be bought and sold
without formality as freely as any kind
Of property and without Inducements
any kind. Owing to the freedom Of
transfer, coupon bonds are usually
preferred by persons who expect to
hold them but a short time. Their dis
advantage for the person who wishes
to make q permanent investment lies
in the danger that they might be lost
Of stolen, in which case the loss to the
owner would be as complete as would.
be the loss Of a bank note. The cous
pom bonds take their name from
the method by which interest ia col;
lected by the holder.
Printed on the same sheet with the
bond liz @ 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 q coupon bond, at each inter-
est 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 q bank account, with
whom the holder OF the bond has deal
ings. The holder OF q coupon bond
man at any time have it converted into
q 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 Endorsed
and assigned by the owner. Such az.
Segment i'd made by the owner filing
I'm the blank form On the hack 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 regib
tered bond who wishes to part with t
writes his name on the back of the
bond in the presence of the office; then
the witnessing officer writes mis- name
in it's proper place and ahxes an i'm
preston 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 Treas
urer, or the president or cashier of
national bank, or IL in q foreign Coun-
try, a United States minister or consul.
In cases where there ia no officer within
a reasonable distance, on when,
through sickness or for some other
good reason, the owner Of registered
bonds cannot 20 before one 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 it and has properly
assigned it, he delivers it to the new
owner, who should at once forward il
to the Register of the Treasury for
transfer on the books of the Depart.
ment. The Register cancels the bond
90 forwarded and issues q new bond in
the name of the new owner, and sends
it to him by registered mail. The De
partment makes no charge for trans.
ferring bonds.
If the owner Of a registered bend
loses it, or if it is stolen from him, he
should at once notify the Secretary of
the Treasury. A stoppage will be en-
tered against the bond, and, if it should
be presented for transfer, the Depart.
ment will hold possession of the bond
until the ownership is clearly estab-
Llished. IL 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
ohaaEn In nnHnn thok No miatnkn 49,