Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1900-03-15

name of any one but the payee of the
old bond, the old bond should be as
signed to the secretary of the treasury
for exchange into 2 per cent bonds for
account OF - (Here insert the
name of the person in whose favor the
bond is to be issued.
"Registered bonds Inscribed in the
name of an institution, forwarded for
Exchange. must be accompanied by
resolution of the board of directors of
the institution authorizing their as
signment to the secretary of the treas
ury for such exchange. The resolution
must bear the seal of the institution.
or. il the institution have no seal,
there must be furnished with the reso-
luton an affidavit setting forth that
fact.
Upon acceptance of any bonds for
exchange under The conditions Of this
circular the present worth OF the sur
rendered bonds to yield an income of "a
per ceEtum per annum Will be calculat
Cd as of the date of their acceptance.
except as provided in the next para
graph, and the sum representing the
idiiterence between the present worth of
said bonds and their par value Will he
paid TO the owner thereof in due course
by Il check drawn in his favor by the
treasurer of the United States. The set
Element viii include payment by the de-
apartment of accrued interest on the old
bonds to the date of their acceptance
for exchange and a charge against the
owner for accrued interest ON the new
lbonds from the date OF their issue to
said date Of acceptance. Bonds surren-
iaiered upon which interest has been pre-
ipaid need not be accompanied By de-
lposit to cover such prepaid interest, as
the department will deduct al the time
LOT the settlement any amount which
may he due on. account of unmaiured
Interest which had been prepaid.
The new bonds Will be dated April T.,
I 1900. therefore, all outstanding bonds
Surrendered for exchange and accepted
i for that purpose prior to that date will
lpear interest To April l. 1900. and inter-
sest on the new bonds will begin; and the
| present worth Of such surrendered
bonds will be calculated as Of the said
April /. The new bonds Will BE- issued
lin denominations as follows: Coupon
$50 slo0 $500, $1,000 Resistered $50
4 $i0o $500 $1,000 $1,000, $1,000 $4,000
-Nll bonds Forwarded for exchange
viii be regarded as the property of tbs
4 PERSON firm or Institution in whosa IA
Nor the ,ieW bonds are 70 be issued. and
In each case the cneck in settlement Of
/ the present worth etc, above referred
1 10. Will be drawn in favor of such per-
Ison. firm or instruction: but If the agent
forwarding the bonds shall desire and
10 request, the bonds and tho check
may be forwarded to such agents adj
'idress for delivery 10 the owner.
Packages containing bonds FOR sur
4 render or papers representing bonds
Iheld by the treasurer Of the United
4 States III trust for Il national bank
4 should be addressed 10 the secretary of
the treasury, division of loans aud cur
4 :ency. Warrington, -. e. ard be plain
/ y marked bonds Cor papers for *
! change.
nBiank forms Of application for the
exchanges herein authorized and blank
lresblutiors for use hy institutions haze
4 been prepared by the department and
may BE- obtained on application to the
Y secretary of the III asury.
In exercise Of the discretion given IL
the seere AIRY of the treasury under see
ition II of the act, he reserves the RICH,
TO suspend the exchange Of bonds above
q contemplated, whenever in his orilio,
the interests Of the government may bt
iselved thereby. The secretary of thf
treasury also reserves the right (,
enailge the terms Of exchange above sci
a forth. either hy requiring Z bonus o,
premium upon the 9 per cent bonds u
by rsauiiing he holders OF bonds out
standing t. surrender the same in *
change fen. the Few bonds at a rate &
Weld income Of more than ~, per cen