The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1911-05-19

n q = f
Selling and Purchase Of Bonds Ex
planned in Full.
The following letter, which is self.
explanatory, has been received by
Postmaster Smith:
Postmaster, Bruins wick, Ca.
Sir. You are authorized to make
public announcement to the effect taar
postal savings bonds will be avail
able for purchase by depositors of
the postal savings system en- July 1,
1911, in denominations of $40, $10O
and $500. Your attention is invited
to sections 40, Al and AZ of the in
structions to postmasters, and to par
agraphs 33 tc 81, inclusive, of form
PS 4, which contain information as
to the terms of these tonds and the
procedure to be observed in convert
ing postal savings deposits to their
purchase. AS stated therein, postal
savings bonds bear interest at the
rate of IL per cent per annum, pay
able semi-annually, and are exempt
from taxation in, any form by the
United States or by any state, munic-
ipal or local authority.
Postal savings bonds can only be
procured by the conversion of postal
savings deposits and will not be is
sued to persons who are not deposit
ors, hut they may be sold and assign
ed by depositor at any time to any
persc desired.
The bonds will be issued in both
registered and coupon form, and ap-
plications by depostors on form PS
800 must indicate which fern is de-
sired.
Coupon bonds. are preferable for a
depositor who intends to hold them
for a short time only and who has am
pie facilities for safekeeping. These
fonds are payable to bearer and the
title will pass by delivery without in
dorsement. In case of their loss the
government does not undertake to
protect the owner against the wrong
full holder, but recognizes the bearer
only Interest en- coupon bonds is col
lected by means of interest coupons,
which are detached by the holder as
they become due.
Registered bonds are preferable for
persons intending to hold them for a
considerable period, and they differ
from coupon bonds in the following
respects:
l. They have Inserted upon their
face the names of the persons to
whom they are issued.
2. They are payable cnly to the per,
sons to whom issued or assigns.
3. The ownership of registered
bonds can be transferred cnly by as.
signment in proper form.
Registered bOndsF are assigned by
the use of forms printed on their
backs. "A ledger account is opened
IN the treasury department at Wash
ington with each holder of one or
more registered be nds, and payment
on bonds that have been lost or stol-
en- may re stopped by notifying the
secretary of the treasury division of
loans and currency, at Washington.
When registered bonds are assigned
they should be transmitted by tue
new owner to the secretary of the
treasury division of loans and cur
rency) for transfer on the looks of
the department.
interest on registered bonds is paid
y checks drawn at the treasury oe-
partment in favor of the registered
nolder. These checks will be sent by
Taft the presidents wife, i'll here
holder and the holder of registered
bond should notify t1e secretary of
the treasury division of leans and
| currency of any change in his post
2fllce address at least Is days before
the interest falls due. Checks for in
terest on registered bonds, as well
as interest on coupons detached from
coupon bonds, are payable on presen.
tation at the United States treasury,
or at the office of any assistant treas
urer OF the United States. Interest
checks and coupons covering inter
est on postal savings bonds may be
cashed by postmasters under the
same Conditions as other government
paper
Your attention is invited to the fact
that all applications ty depositors for
the purchase of postal savings bonds
under date of July 1 must be made
prior to June 10. Applications Should
be forwarded at as early date as
practicable. A supply of the deposit
ors' application form (PS 3O9) has
been mailed TO you under separate
cover Very truly yours, for the Dcst
master general, i. J.. WEED,
| Chief Clerk.