The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-11-13
.GETPOSTAL BONDS
FIRST OF JANUARY
Dspositors in Federal Savings
System May Convert Their
Holdings.

Depositors of the recently estab.
ilshed postal savings bunk, who desire
10 convert their deposits into United
suites registered or coupon bonds, muy
make the exchange on January 1, 1912,
out application to do this must be made
not later than December 10. This in
formation has just been received by
Iostmaster Edgar Allan, Jr., from the
ost-oihco Department at Washington.
fatrons OF Uncle Sans saving sys-
TEN may exchange the whole or u part
OF their deposits for bonds In denomi-
nations of $50. 500 and $500, bearing
interest at the rate of 21-2 per cent.
per annum. payable semi-annually, and
reasonable at tho pleasure OF the gov
eminent after one year from the dnte
Oh issue. both principal and interest
payable twenty years from that date
in United States gold coin.
Free From Taxation.
Postal savings bonds are exempt
from all taxes or duties OF the United
states as well as from taxation in any
Iorns by or under State, municipal or
local authority
Upon making application for the
conversion of deposits, into bonds an
application form will Be supplied at
the depository Office where the certitl-
Gates were issued. The depositor must
inuorse and surrender his pos
tai savings certificates covering tho
amount of the bonds desired, for which
the postmaster will give receipt.
When the postmaster receives tho
bonds applied for he will notify the
oepositor and will deliver the bonds On
presentation of tho receipt for the cer
tihcates surrendered.
The conversion of deposits into
bonds at date less than one year
after the certificates began to bear
interest forfeits interest on the de-
posts as In the case of withdrawal for
any purpose.
No Limitation on Bonds.
Postal savings deposits converted
into bonds are not counted as a part
OF the maximum of $500 allowed one
depositor, and there is no limitation
on the amount OF available postal saw
lnss bonds which may be ACQUIRED
hnally by depositor
POSTAL savings bonds can be pro.
cured only by the conversion of postal
savings deposits. and will not be issued
TO persons who are not depositors.
Ihey may be sold or assigned TO any
person, however. by the holder, and
when registered bond is assigned a
new pond VIII be issued In the name
of the owner.
49, . q oAohiohc VI the lTeaS-
ury Department minor cannot as
sign registered bonds without the con-
sent OF a duly appointed guardian or
trustee. evidence of whose authority
must be submitted. minor has the
rignt TO convert his postal savings
certihcates into registered bonds, but IL
he should desire to assign the bonds
during his minority he must comply
with this regulation. TINS difficulty
does not exist in the case OF coupon
bonds. which are transferred by mere
delivery.
Payment on registered bonds that
nave been lost or stolen may be- stop
ped by notifying the Secretary of the
: Treasury division of loans and cur
rency) at Washington. If coupon
bonds are lost the government does
not undertake to protect the owner
against the wrongful holder, but re-
cognizes the bearer only. The owner
mas recourse only to such means ae he
could use TO recover any other valu-
aple property. When bonds, either
registered or coupon, have been de-
stroyed wholly or in part. or defaced
claim may be filed with the Secre-
tary OF the Treasury under certain
prescribed conditions for their re-
placement Such claims will not be
allowed for coupons which have been
detached from coupon bonds