The Blackfoot optimist. [volume] (Blackfoot, Idaho) 1907-1918, 1911-12-07
POSTAL SAVING BONDS

DESCRIPTION OF POSTAL SAVING
BONDS.
l. Depositors of the Postal Saving
System may exchange the whole or
a part of their deposits on January
l, 1919, for United States registered
or coupon bonds in denominations
of $40, 500, and $500, bearing in
terest at the rate Of IL per cent
per annum, payable semiannually,
and redeemable at the pleasure of !
the United States after one year
from the date of issue, both princi-
pal and interest payable 20 years
from that date in United States gold
coin.
2. Postal savings bonds are exempt
from all taxes or duties of the
| United States, as well as from tax
alton in any form by or under State,
municipal, or local authority.
CONVERSION OF DEPOSITS.
8. Application for the conversion
of deposits into bonds on January l.
1912, must be received before Dec.
15, 1911, by the post master at the
depository office where the GER
tificates were issued. The post
master will supply an application
form which must be made out in
triplicate. The depositor must in
dorse and surrender with his appli-
cation postal savings certificates
covering the amount of the bonds
desires, for which the postmaster
will give him receipt. When the
postmaster receives the bonds APP
piled for he will notify the depositor
and will deliver the bonds on pre-
sentation of the receipt for the GER
n 4
tificates surrendered.
4. The conversion of deposits into
bonds at a date less than one year
after the certificates began to bear
interest forfeits interest on the de-
posits as in the case of withdrawal
for any other purpose.
5. Postal saving deposits converted
into bonds are not counted as part
of the maximum of $500 allowed one
} depOsitOr, and there is no limitation
on the amount of available postal
savings bonds which may be acquir-
ed finally by a depOsitOr. The ex-
change is considered as taking effect
on January l, and depositOr who
has applied to convert into bonds all
or part of the maximum balance of
$500 may deposit an additional a.
mount in January, though the bonds
, may not yet have been delivered.
6. Postal savings bonds can be
: procured only by the conversion of
: postal savings deposits and will not
3 be issued to persons who are not de-
: posjtors. They may be sold or as
$ signed to any person, however, by
the holder, and when registered
s bond is assigned new bond will be
s issued in the name of the owner.
9 REGISTERED AND COUPON BONDS.
Z. The depositor's application
, must indicate whether bonds are de-
q sired in registered or coupon form.
4 Coupon bonds are preferable for a
g depositOr who intends to hold them
9 for short time only and who has
g ample facilities for their safekeep.
y ing. These bonds are payable te
bearer, and the title will pass by
. delivery without Endorsement. In.
!. terest on coupon bonds is collected
9 by means of interest coupons, which
+ are detached by the holder as they
= become due.
4 Registered bonds are preferabl.
q for persons intending to hold then
for q considerable period, and they
:. differ from coupon bonds in the fol
o lowing respects:
E (a) They have inscribed upol
q |
v to whom they are issued.
!. (b) They are payable only to tn
Il persons to whom issued or their as
n signs.
- 1c) The ownership of registered
- bonds can be transferred only by as
n signment in proper form.
v ASSIGNMENT OF BONDS.
t. 8. Registered bonds are assigned
1t by the use of a form printed on tn
rs back, properly dated and acknOw
e lodged. When the assignment i
1t made by mark, it must be witnessed
by at least one person other thai
the officer before whom it is made
A ledger account is opened in TIL
d. Treasury Department at Washing
no ton with each holder OF one or NOR
30 registered bonds, and when sue
~, bonds are assigned they should b
g. transmitted by the new owner t
. the Secretary of the Treasury (Di
vision of Loans and Currency fo
transfer on the books of the depart
ment. Registered bonds can not b
by exchanged for coupon bonds. Cou
r. pom bonds may be converted int
nd registered bonds, without charge
IS. at the request of the holder.
Cd ASSIGN MENT BY MINORS.
9. Under the regulations of til
Treasury Department minor ca
not assign registered bonds withol
h. the consent of a duly appointe
at guardian or trustee, evidence c
M whose authority must be submitted
1 h.. Nj.