The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-03-15

bonds bearing interest at the rate of
per centum per annum will be issued in
the same order in lieu thereof. A letter OF
transmittal should accompany each pack
age of bonds for exchange. setting forth
the purpose for which they are forwarded
and giving the address to which the new
bonds and checks for the interest thereon
shall be sent.
Bonds held by the treasurer or the
United States in trust for a national bank
may be surrendered by letter addressed
to the secretary of the treasury, accom-
panied with the treasurer's receipt repre-
senting the bonds, together with resolu-
ton of the board OF directors OF the bank
authorizing the treasurer to assign the
bonds.
1.-The priority OF issue OF the new bonds
will be determined by the date of the re-
ceipt by the secretary of the treasury OF
outstanding bonds or the papers represent
ing the same, provided that the bonds or
papers are in proper condition for such
surrender as set forth hereafter In this
circular. If any correction is required the
priority of the bonds 10 be issued will take
date from the receipt and acceptance OF
corrected bonds or papers at this office.
REGISTERED BONDS.
"All registered bonds forwarded should
be assigned to the secretary of the treas
ury for exchange into per centum bonds.
The assignment should be dated and wit
messed by one of the officers named in the
note which is printed on the back of each
bond. Where a new bond is desired in the
name of any one but the payee OF the old
h. nn1 ~
the secretary of the treasury for exchange
into per cent. bonds for account of -
there insert the name Of the person In
whose favor the bond is to be issued-1
Registered bonds inscribed in the name of
an institution, forwarded for exchange.
must be accompanied by resolution or
the board of directors of the institution
authorizing their assignment to the secre-
tary of the treasury for such exchange.
The resolution must bear the seal of the
institution, or If the institution have no
seal there must be furnished with the
resolution an affidavit setting forth that
fact.
Upon acceptance of any bonds for ex-
change under the conditions OF this circu-
lar the present worth of the surrendered
bonds to yield an income of pa per GEN.
tum per annum will be calculated as the
date of their acceptance, except as pro-
vided in the next paragraph. and the sum
representing the difference between the
present worth of said bonds and their par
value will be paid to the owner thereof in
due course by check drawn in his favor
by the treasurer of the United States.
The settlement will include payment by
the department of accrued interest on the
cid bonds to the date of their acceptance
for exchange and charged against the owner
for accrued interest on the new bonds from
the date of their issue to said date of ac-
ceptance. Bonds surrendered upon which
interest has been prepaid need not be
companied by deposit to cover such pre-
paid interest, the department will de-
Guct at the time Of the settlement
any amount which may be due on account
CT unmatured interest which has been pre-
paid.
DENOMINATIONS.
1.-The new bonds will be dated April 1,
1900; therefore all outstanding bonds sur
rendered for exchange and accepted for
that purpose prior TO that date will bear
interest to April /, and interest on the new
bonds will begin; and the present worth of
such surrendered bonds will be calculated
OF the said April 1. The new bonds will
be issued in denominations as follows:
Coupons, $50. 800, $500, $1,000 Registered,
$50, $780, $500. $1,000. 5000, $4,000, $4,000.
''All bonds forwarded for exchange will
be regarded as the property of the person,
firm, or institution in whose favor the new
bonds are to be issued. and i'm each case
the check in settlement of the present
WORTH ETC., above referred to, will be
drawn in favor of such person, firm, or in
stitution; but. if the agent forwarding the
bonds shall desire, and so request, the
bonds and the check may be forwarded to
such agents address for delivery to the
owner.
Packages containing bonds for sur
render, or papers representing bonds held
by the treasurer of the United States in
trust for national bank, should be ad-
dressed to the Secretary of the Treasury.
Division of Loans and Currency, Washing
ton, d. c., and be plainly marked bonds
(or papers) for exchange
BLANK forms of application for the ex-
changes herein authorized and blank reso-
lutions for use by institutions have been
prepared by the department, and may be
obtained on application to the Secretary of
the Treasury.
In exercise Of the discretion given to the
secretary of the treasury under Section
IL of the act, he reserves the right to sus-
pend the exchange of bonds above con-
templated, whenever in his opinion, the in
terests of the government may be best
served thereby. The secretary of the
treasury also reserves the right to change
the terms of exchange above set forth.
either by requiring bonus or premium
upon the per cent. bonds, or by recurring
the holders Of bonds outstanding to sur
render the same in exchange for the new
bonds at rate to yield income of more
than 2A per cent. per annum."
EXCHANGE OF BONDS
Instructions IsSued NV As.;.t.r< c..