Rogue River courier. (Grants Pass, Or.) 1886-1927, 1911-12-15
REGULATIONS FOR POSTAL
SAVINGS BANK DEPOSITORS

Postmaster G. W. Donnell has re-
ceived from the department at Wash
ington a circular reading as follows:
1. Depositors of the postal savings
system may exchange the whole or a
part of their deposits on January /,
1912, for United States registered or
coupon bonds in denominations of
$40, 500 and $500, bearing inter-
est at the rate Of 21a per cent per
annum, payable semi-annually, and
redeemable at the pleasure of the
United States after one year from
that date in United States gold coin.
2. Postal savings bonds are ex-
empt from all taxes or duties of the
United States, as well as from taxa
tion In any form by or under state,
municipal or local authority.
3. Applications for the conver-
sion of deposits into bonds on Janu-
airy l, 1912, must be received before
December 10, 1911, by the postmas-
ter at the depository office where the
certificates 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 dc
sired, for which the postmaster win
give him receipt. When the post
master receives the bonds applied
for he will notify the depositor and
will deliver the bonds on presenta-
tion of the receipt for the certificates
surrendered.
4. The conversion of deposits in
to 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 savings deposits con-
verted into bonds are not counted as
a part of the maximum of $500 al
lowed one depositor, and there is no
limitation on the amount Of available
postal savings bonds which may be
acquired finally by a depositor. The
exchange is considered as taking ef-
feet on January /, and a depositor
who has applied to convert into bonds
all or part of the maximum balance
OF $500 may deposit an additional
amount 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
be issued to persons who are not de-
positors. They may be sold or as
signed to any person, however, by
the holder, and when a registered
bond is assigned, new bond will be
issued In the name of the owner.
7 The depositor's application
must indicate whether bonds are de-
sired in registered or coupon form.
Coupon bonds are preferable for a
depositor who intends to hold them
for a short time only and who has
ample facilities for their safekeep-
ing These bonds are payable to
bearer, and the title will pass by de-
livery without Endorsement. Inter
est on coupon bonds is collected by
means of interest coupon, which are
detached by the holder as they be-
come due.
Registered bonds are preferable
for persons intending to hold them
for considerable period, and they
differ from coupon bonds In the fol-
lowing respects:
(a). They have inscribed upon
their face the names OF the persons
to whom they are issued.
tb). They are payable only to the
persons to whom issued or their as
signs.
(c). The ownership OF registered
bonds can be transferred only by as
'lgnment in proper form.
Carl Hull went to Medford Tues