The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1898-06-24
UNITED STATES BONDS.
Timely Information Concerning the
Popular War Loan.


United states bonds are recognized
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 municipal
is valuable feature of that form of
investment. United States bonds are
issued in both coupon and registered
form.
COUPON BONDS.
y coupon bond is payable to the
bearer. 1t may be bought and sold
without formality as freely as any kind
of property ana without Endorsements
of any kind. Owing to the freedom
of transfer. coupon bonds are usually
preferred by persons who expect to
hold them but short time. Their dis
advantage 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 cou-
pom 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 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 inter-
est period, detaches the coupon due
that day 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 a 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 b. 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 as
slgnments. The owner of the regis
tered 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 affixes
an impression of his official seal.
The officers who are authorized to
witness assignments are a United
States district attorney, clerk of a
United states court, collector of GUS
toms, collector or assessor Of internal
revenue. United States treasurer or as
sistant treasurer, or the president or
cashier of a national bank or if in a
foreign country, a United States min
lister or consul. In cases where there
is no officer within a reasonable dis
tance, 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 de-
Idrtment / will designate some person
neal the owner to act as witness.
When the owner of registered bond
Gisposes of it and has Properly as
signed it, he delivers t. to the new
owner, who should at once forward il
10 the register of The treasury for
transfer on the books Of the depart-
IHtnt, 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 reg stered mail. The
department. makes no charge for trans
fCrring bonds.
Il the owner of a registered bond
loses IT, or If it is St)ten from him. he
should at once notify the secretary of
lEe treasury. a stoprage will be en-
teied against the bond, and, if il
shoUld be presented for transfer the
department will hold possession of the
bCnd until the ownership is clearly
established. If a lost or stolen bond
/; not recovered within six months. the
department will issue duplicate bond
upon proof of loss and a bond of in
Gemnity being furnished.
The interest on registered bonds IS
paid by the government by means of
checks, IN order that no mistake NAV
he 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 four per cent. loan of 1907
are closed for the whole month preced-
ing the payment Of a quarters inter-
est. on other loans the books are
closed for fifteen days preceding the
interest payment. During this period
no transfers are made. and the time is
devoted TO preparing 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 pre-
pared and proved, they are sent to the
treasurer Of the United States, who
Immediately has checks and envel-
opes addressed, and in due time each
check is mailed to the address of it's
owner The checks for the nore dis
tant points are first mailed. Interest
checks are obligations Of the United
States, and, Of course, are good every
where.
Coupon bonds are issued in denomi-
nations of $50 500, $500 and 81 OOO
Registered bonds are issued in denomi-
nations Of $40, $780, $500, 81 1000, $1,000,
$4,000.
HOW TO SUBSCRIBE FOR THE
NEW BONDS.
The war loan which is now being
offered will be sold TO subscribers at
par during the period of subscription,
which ends July II, 1898. The method
or subscription has been made as
simple as possible. Blank forms may
be obtained at every money-order post
Office, and at most Of the banks and
express offices and on these forms is